Worksport Partners with Tri-State Enterprises for Distribution
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Should l Buy WKSP?
Worksport announced that it has secured Tri-State Enterprises as a new cross-regional distribution partner for Worksport's growing tonneau cover lineup, including the Company's recently launched Nexus cover. Last week, the Company received two initial purchase orders with a broad spectrum of SKUs and quantity, with another order anticipated in the coming days tied to near-term sales activity. This early traction reflects immediate demand following onboarding and signals strong momentum as Worksport expands its U.S. distribution footprint.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy WKSP?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on WKSP
Wall Street analysts forecast WKSP stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.895
Low
5.00
Averages
8.25
High
11.50
Current: 0.895
Low
5.00
Averages
8.25
High
11.50
About WKSP
Worksport Ltd., through its subsidiaries, designs, develops, and manufactures products for various markets, including automotive accessories, consumer electronics, and both residential and commercial heating, ventilation, and air conditioning system markets. The Company protects its products through an intellectual property portfolio with patents and trademarks relating to tonneau covers, solar integrated tonneau covers, portable power stations, NP (non-parasitic) hydrogen-based green energy systems, residential heating and cooling systems (heat pumps), and electric vehicle-charging stations. Its soft tonneau cover offering consists of vinyl wrapped tri- and quad-fold tonneau covers. The soft tonneau cover line includes The Worksport SC3, The Worksport SC3 PRO, The Worksport SC4, and The Worksport SC4 PRO. Its hard tonneau cover line includes The Worksport AL3 and The Worksport AL4. Its hard-folding cover, designed and manufactured in-house, is compatible with all major truck models.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Worksport Q1 Earnings Miss Expectations with Losses
- Earnings Report Disappointment: Worksport's Q1 GAAP EPS of -$0.54 misses expectations by $0.02, indicating challenges in profitability that could undermine investor confidence.
- Weak Revenue Growth: Although revenue increased by 47.8% year-over-year to $3.31M, it fell short of expectations by $2.02M, reflecting unmet market demand that may hinder future expansion plans.
- Executive Changes: Worksport has appointed Jennifer Kartychak as CFO to enhance margins and cash flow, indicating a strategic shift in financial management to address current fiscal pressures.
- CEO Stock Purchase: The CEO's acquisition of 88,200 shares demonstrates confidence in the company's future growth, with projected revenues of $35M to $42M in 2026, suggesting a positive outlook for long-term business development.
See More
Worksport Ltd. Q1 2026 Earnings Call Insights
- Financial Performance: In Q1 2026, Worksport Ltd. reported net sales of $3.3 million, reflecting a year-over-year growth of approximately 48%, with gross profit exceeding $854,000 and a gross margin of about 26%, indicating initial success in sales channel activation and cost control.
- Cash Flow Situation: The net cash used in operating activities for Q1 was approximately $8.2 million, with cash and cash equivalents decreasing to $566,000, highlighting the company's need to convert inventory into revenue to improve cash flow, indicating financial pressure.
- Product Launch Progress: The company commenced commercial shipping of SOLIS and NEXUS in January and April 2026, respectively, although CEO Rossi noted that initial sales were not significant, the future sales potential remains promising, particularly in Q2.
- Future Outlook: Management reaffirmed revenue guidance for 2026 at $35 million to $42 million, planning to gradually reduce the frequency of quarterly guidance updates in favor of focusing on long-term strategic resource allocation, demonstrating confidence in future growth.
See More
Worksport to Host Q1 2026 Earnings Call and Investor Townhall
- Earnings Call Scheduled: Worksport is set to hold its Q1 2026 earnings conference call on May 13, 2026, at 4:30 p.m. ET, where management will discuss financial results and recent business developments, aiming to enhance investor understanding of the company's operations.
- Inaugural Investor Townhall: Following the earnings call, Worksport will host its first investor townhall, introducing a new communication platform designed to establish a more direct connection with shareholders and facilitate deeper discussions on the company's strategic direction.
- Real-Time Interaction and Q&A: The townhall will feature a strategic discussion led by the CEO and real-time updates on product development, with shareholders encouraged to submit questions in advance, thereby enhancing investor engagement and transparency.
- Commitment to Long-Term Value Creation: CEO Steven Rossi emphasized that through this new communication format, Worksport aims to help shareholders better understand the company's strategic focus and its significance for long-term value creation, further strengthening relationships with investors.
See More
Worksport Appoints New CFO to Drive Growth
- Executive Change: Worksport announced the appointment of Jennifer Kartychak as CFO, effective May 1, 2026, replacing Michael Johnston who resigned on April 30, with the leadership change aimed at enhancing the company's operational cash flow positivity, reflecting a strong focus on financial management.
- Goal Alignment: Kartychak's incentives are closely tied to key objectives such as SEC reporting, monthly closes, internal controls, SG&A cost savings, margin improvement, and cash flow breakeven, ensuring her role is directly aligned with the company's growth roadmap.
- Financial Transparency: The company confirmed no disagreements on financial reporting or operations with the former CFO, a statement that may enhance investor confidence in the company's financial transparency and potentially have a positive impact on stock prices.
- Future Outlook: With accelerated new product launches, Worksport anticipates revenue between $35 million and $42 million in 2026, with gross margins climbing to 30%, indicating strong growth potential in a competitive market.
See More
Worksport CEO Steven Rossi Buys Shares, Signaling Confidence Amid Growth
- CEO Share Purchase: Worksport CEO Steven Rossi purchased 88,200 shares at $0.85 each, totaling approximately $75,000, demonstrating strong confidence in the company's future prospects amidst ongoing growth.
- Rapid Revenue Growth: The company anticipates revenue growth from approximately $1.5 million in 2023 to $16.1 million by 2025, with a target of $35 million to $42 million in 2026, reflecting robust market demand and expansion potential.
- Margin Improvement: Worksport's gross margins have improved from around 11% to 30%, with plans to reach 35% by 2026, significantly enhancing the company's profitability and financial health.
- Dealer Network Expansion: The dealer network has expanded to over 550 locations, with ongoing product launches, and the company expects to achieve positive cash flow by 2026 with quarterly revenues of $9 million to $11 million, further solidifying its market position.
See More
Worksport Ltd. Reports Significant Growth in FY 2025 Earnings
- Significant Sales Growth: Worksport's net sales for FY 2025 nearly doubled to $16.1 million, reflecting an 89.8% increase from 2024, indicating substantial progress in market expansion and product launches despite ongoing operational losses.
- Margin Improvement: Gross margins improved from 11% to 28% for FY 2025, with Q4 margins reaching 30.1%, demonstrating enhanced cost control and operational efficiency, which is expected to lay the groundwork for future profitability.
- Dealer Network Expansion: The company's dealer network expanded sixfold to over 550 locations in FY 2025, indicating a significant increase in market penetration that will help drive future sales growth and brand influence.
- 2026 Outlook: Management anticipates revenue between $35 million and $42 million for 2026, with a gross margin target of 35%, reflecting confidence in new product launches and market demand while emphasizing the strategic goal of achieving positive cash flow.
See More
Worksport Q1 Earnings Miss Expectations with Losses
- Earnings Report Disappointment: Worksport's Q1 GAAP EPS of -$0.54 misses expectations by $0.02, indicating challenges in profitability that could undermine investor confidence.
- Weak Revenue Growth: Although revenue increased by 47.8% year-over-year to $3.31M, it fell short of expectations by $2.02M, reflecting unmet market demand that may hinder future expansion plans.
- Executive Changes: Worksport has appointed Jennifer Kartychak as CFO to enhance margins and cash flow, indicating a strategic shift in financial management to address current fiscal pressures.
- CEO Stock Purchase: The CEO's acquisition of 88,200 shares demonstrates confidence in the company's future growth, with projected revenues of $35M to $42M in 2026, suggesting a positive outlook for long-term business development.
See More
Worksport Ltd. Q1 2026 Earnings Call Insights
- Financial Performance: In Q1 2026, Worksport Ltd. reported net sales of $3.3 million, reflecting a year-over-year growth of approximately 48%, with gross profit exceeding $854,000 and a gross margin of about 26%, indicating initial success in sales channel activation and cost control.
- Cash Flow Situation: The net cash used in operating activities for Q1 was approximately $8.2 million, with cash and cash equivalents decreasing to $566,000, highlighting the company's need to convert inventory into revenue to improve cash flow, indicating financial pressure.
- Product Launch Progress: The company commenced commercial shipping of SOLIS and NEXUS in January and April 2026, respectively, although CEO Rossi noted that initial sales were not significant, the future sales potential remains promising, particularly in Q2.
- Future Outlook: Management reaffirmed revenue guidance for 2026 at $35 million to $42 million, planning to gradually reduce the frequency of quarterly guidance updates in favor of focusing on long-term strategic resource allocation, demonstrating confidence in future growth.
See More
Worksport to Host Q1 2026 Earnings Call and Investor Townhall
- Earnings Call Scheduled: Worksport is set to hold its Q1 2026 earnings conference call on May 13, 2026, at 4:30 p.m. ET, where management will discuss financial results and recent business developments, aiming to enhance investor understanding of the company's operations.
- Inaugural Investor Townhall: Following the earnings call, Worksport will host its first investor townhall, introducing a new communication platform designed to establish a more direct connection with shareholders and facilitate deeper discussions on the company's strategic direction.
- Real-Time Interaction and Q&A: The townhall will feature a strategic discussion led by the CEO and real-time updates on product development, with shareholders encouraged to submit questions in advance, thereby enhancing investor engagement and transparency.
- Commitment to Long-Term Value Creation: CEO Steven Rossi emphasized that through this new communication format, Worksport aims to help shareholders better understand the company's strategic focus and its significance for long-term value creation, further strengthening relationships with investors.
See More
Worksport Appoints New CFO to Drive Growth
- Executive Change: Worksport announced the appointment of Jennifer Kartychak as CFO, effective May 1, 2026, replacing Michael Johnston who resigned on April 30, with the leadership change aimed at enhancing the company's operational cash flow positivity, reflecting a strong focus on financial management.
- Goal Alignment: Kartychak's incentives are closely tied to key objectives such as SEC reporting, monthly closes, internal controls, SG&A cost savings, margin improvement, and cash flow breakeven, ensuring her role is directly aligned with the company's growth roadmap.
- Financial Transparency: The company confirmed no disagreements on financial reporting or operations with the former CFO, a statement that may enhance investor confidence in the company's financial transparency and potentially have a positive impact on stock prices.
- Future Outlook: With accelerated new product launches, Worksport anticipates revenue between $35 million and $42 million in 2026, with gross margins climbing to 30%, indicating strong growth potential in a competitive market.
See More
Worksport CEO Steven Rossi Buys Shares, Signaling Confidence Amid Growth
- CEO Share Purchase: Worksport CEO Steven Rossi purchased 88,200 shares at $0.85 each, totaling approximately $75,000, demonstrating strong confidence in the company's future prospects amidst ongoing growth.
- Rapid Revenue Growth: The company anticipates revenue growth from approximately $1.5 million in 2023 to $16.1 million by 2025, with a target of $35 million to $42 million in 2026, reflecting robust market demand and expansion potential.
- Margin Improvement: Worksport's gross margins have improved from around 11% to 30%, with plans to reach 35% by 2026, significantly enhancing the company's profitability and financial health.
- Dealer Network Expansion: The dealer network has expanded to over 550 locations, with ongoing product launches, and the company expects to achieve positive cash flow by 2026 with quarterly revenues of $9 million to $11 million, further solidifying its market position.
See More
Worksport Ltd. Reports Significant Growth in FY 2025 Earnings
- Significant Sales Growth: Worksport's net sales for FY 2025 nearly doubled to $16.1 million, reflecting an 89.8% increase from 2024, indicating substantial progress in market expansion and product launches despite ongoing operational losses.
- Margin Improvement: Gross margins improved from 11% to 28% for FY 2025, with Q4 margins reaching 30.1%, demonstrating enhanced cost control and operational efficiency, which is expected to lay the groundwork for future profitability.
- Dealer Network Expansion: The company's dealer network expanded sixfold to over 550 locations in FY 2025, indicating a significant increase in market penetration that will help drive future sales growth and brand influence.
- 2026 Outlook: Management anticipates revenue between $35 million and $42 million for 2026, with a gross margin target of 35%, reflecting confidence in new product launches and market demand while emphasizing the strategic goal of achieving positive cash flow.
See More
