Worksport announced three significant operational updates, including a new national distribution partnership with Meyer Distributing, a record preliminary gross margin of 35% for May 2026, and a new target for a $36 million+ annualized revenue run-rate. These developments are expected to support the company's path toward achieving operational cash-flow positivity within 2026.
Key Details
- Distribution Agreement: Secured a national distribution agreement with Meyer Distributing, a major automotive aftermarket wholesaler. Worksport has received an initial purchase order, expanding its B2B reach across the U.S. and Canada.
- Financial Performance: Achieved a preliminary gross margin of approximately 35% in May 2026, a significant increase from 28.4% in Q1 2026 and 11% in December 2024.
- Revenue Outlook: The company is now targeting a $36M+ annualized revenue opportunity, which it estimates is the level required to reach operational cash-flow positivity. This target is supported by current sales tracking above $20 million annually and the new distribution channels.