Worksport Ltd. (NASDAQ: WKSP) reported preliminary July product orders of approximately $2.52 million, a company record, alongside net sales of about $2.22 million for the month. The West Seneca, N.Y.-based manufacturer of truck tonneau covers and clean energy solutions said roughly $300,000 in firm orders remained in backlog at month-end.
July net sales rose 6.7% from June and 60.6% from March, reflecting consistent commercial momentum as the company targets an annualized revenue rate of $30 million. Gross profit for the month reached approximately $680,000, translating to a gross margin of 30.8%, the third consecutive month above 30%.
Steven Rossi, founder and chief executive officer, noted that July’s performance underscored the growth platform’s increasing commercial traction. He emphasized the company’s focus on converting rising demand into stronger gross profit and improved cash performance, rather than prioritizing order volume alone.
Worksport’s product portfolio includes tonneau covers, solar integrations, portable power systems, and heating and cooling solutions designed for major truck models. The company cautioned that its order figures represent an operating metric of aggregate completed orders during July and do not equate to GAAP-recognized net sales, which only occur upon revenue recognition under accounting standards.
The July results remain preliminary, unaudited, and subject to finalization following external financial reporting close and review processes.
