Worksport Books $2.92M August Orders; Annualized Run Rate Hits $35M
WKSP sits 22% above its 52-week low of $0.37 on light trading volume (0.1× avg).
Summary
Worksport reported preliminary August sales orders of $2.92M, up 16.4% from July, pushing the annualized order run rate to $35.05M. Net sales rose 5.6% to $2.34M, extending an eight-month climb, while backlog jumped 145% to $898K as orders outpaced invoicing. Gross margin stayed above 30% for a fourth straight month. This follows the Q2 report showing record revenue but a going concern warning and Nasdaq delisting notice; the order momentum is a positive signal but the company still faces cash constraints and a pending reverse split authorization.
At the time of this announcement, WKSP was trading at $0.45 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $6.2M. The 52-week trading range was $0.37 to $3.88. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.