Worksport Secures Meyer Distributing Deal, Projects Over $36M Annual Revenue Run Rate
WKSP sits 70% above its 52-week low of $0.569.
Summary
Worksport announced Meyer Distributing as a new national distribution partner, significantly expanding its market reach. The company now reports a current 2026 revenue run rate above $21 million and targets an annualized run rate exceeding $36 million. This news provides specific details following the June 22nd announcements of a major distribution deal and increased revenue targets. For a company with a $14 million market cap, these projected revenues are highly material and indicate substantial growth. This development helps address the 'going concern' warning issued in the Q1 10-Q by demonstrating strong business momentum and revenue generation.
At the time of this announcement, WKSP was trading at $0.97 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $14.2M. 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.