Worksport Ltd. (WKSP) Earnings Call Transcripts

Worksport Ltd.'s Latest Earnings Call - Q1 FY2026

In Q1 2026, Worksport Ltd. reported a significant revenue increase of approximately 48% year-over-year, reaching $3.3 million, while gross profit more than doubled to $854,000, resulting in a gross margin of 26%. The company emphasized that this quarter was primarily focused on product launches and building inventory, with management indicating a strong outlook for Q2 and the second half of 2026 as they aim for operational cash flow positivity. Guidance for fiscal 2026 remains at $35 million to $42 million, reaffirming their commitment to scaling operations and improving profitability.

Reported metrics

Guidance from management

Management reaffirmed their revenue guidance for fiscal 2026 at $35 million to $42 million, emphasizing a focus on achieving operational cash flow positivity by the end of the year.

What management said

COR takes a chunk of it. It's in the millions for COR means we have to manufacture batches of 1,000 at a time. And then the rest of the blend, AL3, HD3, AL4 and NEXUS only just started being made at the tail end of the quarter. So Jen may have a bit more back of the napkin insight on that, but it's an even blend in my perspective. Am I right, Jen?

Sure. So in terms of our breakdown of G&A, I'll talk about G&A in its totality and then what gets absorbed up into our margin, if you will. So in our G&A pool, about 66% of our G&A cost is with salaries, wages and benefits, inclusive of equity compensation. About 11% of that is depreciation and amortization, about 10% relates to facility support and then the remainder relates primarily to professional fees, and profe...

What analysts pressed on

Analysts expressed concerns regarding the significant cash burn and the ability to convert inventory into revenue effectively. There were also questions about the sustainability of the increased sales and marketing expenses and how they would impact future profitability.

Main topics on the call

• Revenue Growth — Worksport achieved revenue of $3.3 million in Q1 2026, a 48% increase from $2.2 million in Q1 2025. Management stated, "We believe Worksport has the potential to become a $100 million-plus middle market revenue company p...
• Product Launches — The company launched the SOLIS and COR products in Q1 2026, with early sales expected to ramp up in Q2. Management noted, "We did clip sales COR and SOLIS, but they just weren't that meaningful," indicating a focus on bu...
• Gross Margin Improvement — Gross margin improved to approximately 26% in Q1 2026, up from 18% in Q1 2025. Management highlighted, "Our Q1 2026 gross margin was approximately 26% compared to approximately 18% in Q1 2025," showcasing effective cost ...
• Distribution Partnerships — Worksport secured a significant partnership with Tri-State Enterprises, expanding distribution across several states. Management stated, "Tri-State could be a 7-figure, maybe even 8-figure account for Worksport," indicat...

Read the full Worksport Ltd. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 14 Worksport Ltd. earnings call transcripts on record, spanning August 13, 2024 to August 11, 2026. Based on this history, Worksport Ltd. reports quarterly. The most recent call on file is dated August 11, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

WKSP

Exchange

NasdaqCM

Country

US

Sector

Consumer Discretionary

Industry

Automobile Components

Calls on record

14

First call

August 13, 2024

Most recent

August 11, 2026

Reporting cadence

quarterly