Worksport Regains Nasdaq Compliance, Boosts Revenue Target to $36M+ on Strong 35% Gross Margin
WKSP sits 86% above its 52-week low of $0.569 on elevated volume (7.2× avg).
Summary
Worksport has successfully regained Nasdaq minimum bid price compliance, removing a significant listing risk. The company reported a preliminary 35% gross margin for May, a substantial increase of approximately 660 basis points from Q1 2026. Furthermore, Worksport projects a significantly increased annual revenue run-rate of over $36 million, up from a previous $21 million target. This positive financial and compliance news follows recent developments including new distribution partnerships and patent approvals, providing a strong counterpoint to the 'going concern' warning issued in Q1 2026.
At the time of this announcement, WKSP was trading at $1.06 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $15.2M. The 52-week trading range was $0.57 to $4.90. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.