Filing Flows › Worksport (WKSP) › Q1 2026
Worksport (WKSP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
Worksport (WKSP) reported revenue of $3.3M for the first quarter 2026 (Q1 2026), +48% from a year earlier. Operating margin was -173.4%, net loss $5.8M (175.9% of revenue).
Worksport, Q1 2026: revenue $3.3M (+48% year over year), operating margin -173.4%, net loss $5.8M, operating cash flow −$8.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.3M | — | +48% |
| Operating profit | −$5.7M | — | — |
| Net earnings | −$5.8M | — | — |
| Operating cash flow | −$8.2M | — | — |
What changed
Revenue was $3.3M in Q1 2026, up 48% year over year. Hard Tonneau Covers was the largest line at 99% of revenue. Hard Tonneau Covers added $1.2M year over year (up 54%), 107% of the total change. Soft Tonneau Covers declined 65%.
Gross margin was 25.8%, up 8.1 points from Q1 2025. Operating costs exceeded revenue by $5.7M, an operating margin of -173.4%. Operating expenses grew 42% against revenue growth of 48%. The fastest-growing cost line was Other operating costs (+193%). The quarter ended with a net loss of $5.8M.
Operating cash flow was −$8.2M. Non-cash charges added back $426K of depreciation and amortization and $748K of share-based compensation. Working capital and other items used $3.6M. Capital expenditures of $104K exceeded it, leaving free cash flow of −$8.3M.
Questions
What was Worksport's revenue in the first quarter 2026?
Worksport (WKSP) reported revenue of $3.3M for the first quarter 2026 (Q1 2026), +48% from a year earlier.
Was Worksport profitable in the first quarter 2026?
Operating loss was $5.7M (-173.4% of revenue) and net loss $5.8M.
Source: Worksport 10-Q on SEC EDGAR.