Worksport's June Gross Profit Jumps 132%, Bringing Cash-Flow Breakeven Within Reach
WKSP sits 30% above its 52-week low of $0.569 on light trading volume (0.2× avg).
Summary
Preliminary June results show Worksport's gross profit up 132% from April to $720K, with margins above 35%. The company says it is nearing cash-flow breakeven, a critical step for a business that has been burning cash and faces a reverse-split vote.
Key Events · Earnings and Guidance · WKSP
-
Gross Profit Surges 132% in June
Preliminary June gross profit reached ~$720K, up 132% from April's ~$310K, on net sales of ~$2.08M (up 46%). Gross margin run rate now exceeds 35%, up from 26% in Q1 2026.
-
Nearing Cash-Flow Breakeven
Management stated the company is 'materially closer to cash-flow breakeven' as gross profit growth outpaces revenue growth, reducing the cash burn that has required dilutive equity financing.
-
Reverse Split Vote Looms
The strong operating momentum comes as shareholders are being asked to approve a reverse stock split (up to 1-for-250) to maintain Nasdaq listing, with the proxy filed on July 20, 2026.
-
Q2 Earnings Expected by August 11
Complete Q2 2026 financial results are expected to be filed by about August 11, 2026, which will provide audited figures and a fuller picture of the company's trajectory.
Analysis · WKSP · Manufacturing
Preliminary June 2026 results show gross profit surged 132% from April to $720K, driven by a 46% sales increase to $2.08M. Gross margins now run above 35%, up from 26% in Q1, and management says the company is materially closer to cash-flow breakeven. For a business that has been burning cash and relying on dilutive equity raises, this marks a significant operational milestone—and it arrives just as shareholders are being asked to approve a reverse stock split to maintain Nasdaq listing. The improving unit economics directly address the going-concern risk flagged in the last 10-Q.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 35.9% of the 1728 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.06%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WKSP was trading at $0.74 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $10.2M. The 52-week trading range was $0.57 to $4.46. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.