Worksport Announces Reduced Cash Use and Record Sales in Q3 2026

Worksport Ltd. has reported preliminary third-quarter 2026 results, marking an 89% reduction in operating cash use to approximately $0.37 million. This sharp decrease from $3.4 million in the second quarter is attributed to converting $2.5 million of inventory into sales and cash.

The company also achieved record net sales of approximately $7.24 million, a 44% year-over-year increase. September saw a company-record $2.68 million in net sales, with sustained gross margins above 30%. A significant portion of this growth was driven by B2B sales expansion.

The reduction in cash usage and inventory reflects a strategic shift towards a just-in-time production model. Furthermore, sales orders surpassed invoiced sales, leaving a backlog of $740,000. CEO Steven Rossi emphasized the transition from investment to conversion, suggesting a path to operating cash flow breakeven.