Form 8-K

8-K — Worksport Ltd

Accession: 0001493152-26-029499

Filed: 2026-06-22

Period: 2026-06-22

CIK: 0001096275

SIC: 3714 (MOTOR VEHICLE PARTS & ACCESSORIES)

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date

of Report (Date of earliest event reported): June 22, 2026

WORKSPORT

LTD.

(Exact name of registrant as specified in its

charter)

Nevada

001-40681

35-2696895

(State

or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS

Employer

Identification No.)

2500

N America Dr

West

Seneca, New York 14224

(Address of principal executive offices) (ZIP Code)

(888)

554-8789

Registrant’s

telephone number, including area code

Not

Applicable

(Former name or former address, if changed since last report)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions:

☐

Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities

registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbols

Name

of each exchange on which registered

Common

WKSP

The

Nasdaq Stock Market LLC

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

Emerging

growth company ☐

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item

7.01 Regulation FD Disclosure.

June 22, 2026, Worksport Ltd. (the “Company”) issued a press release: “Worksport (NASDAQ: WKSP) Achieves 35% May

Gross Margin, Lands Meyer Distribution, Targets $36M+ Revenue Run-Rate”

copy of the press release is attached hereto as Exhibit 99.1.

The

information under Item 7.01 of this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed”

for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section,

or incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, except as shall be

expressly set forth by specific reference in any such filing.

Item

9.01 Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit

No.

Description

99.1

Press

Release dated June 22, 2026, “Worksport (NASDAQ: WKSP) Achieves 35% May Gross Margin, Lands Meyer Distribution, Targets

$36M+ Revenue Run-Rate”

104

Cover

Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant

to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by

the undersigned hereunto duly authorized.

WORKSPORT

LTD.

Date:

June 22, 2026

By:

/s/

Steven Rossi

Name:

Steven

Rossi

Title:

Chief

Executive Officer

(Principal Executive Officer)

EX-99.1

Filename: ex99-1.htm · Sequence: 2

Exhibit

99.1

Worksport

(NASDAQ: WKSP) Achieves 35% May Gross Margin, Lands Meyer Distribution, Targets $36M+ Revenue Run-Rate

Company

announces three major operating inflections: preliminary May record breaking gross margin of approximately 35% (up 660 Basis

Points), a new Meyer Distributing relationship, , and a $36M+ 12-month revenue opportunity supported by accelerating B2C and

B2B growth.

The

announcement follows last week’s premium-priced direct investment and highlights the distribution scale, margin expansion,

and revenue drivers that management believes lead the Company’s path toward near-term operational cash-flow positivity.

West

Seneca, New York, June 22, 2026 — Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based

innovator and manufacturer of hybrid and clean energy solutions primarily for the light truck, overlanding, and global consumer goods

markets, today announced three new commercial and operational developments that management believes mark a potential inflection

point in Worksport’s 2026 growth plan.

The

Company announced that it has secured Meyer Distributing as a new national distribution partner, achieved 35% gross margin

in May 2026 (up from 28.4% in Q1 2026), and is now targeting a $36 million+ 12-month revenue opportunity supported

by increasing B2C activity, expanding B2B distribution, newly launched products, and improving operating leverage.

The

announcement follows Worksport’s recently completed premium-priced direct investment, which the Company believes reflected investor

confidence in its strategic direction. With annualized revenue currently tracking above $20 million and momentum continuing to

build during the second quarter, management believes the Company is entering the second half of 2026 with a significantly stronger commercial

and operating foundation.

Preliminary

May Gross Margin Reaches Approximately 35%

Worksport

today announced that it achieved approximately 35% gross margin in May 2026, representing a new record margin metric for the company,

based on preliminary unaudited internal results. This represents continued margin improvement from approximately 11% gross margin

in December 2024 and approximately 30% gross margin in December 2025. Gross margin has increased despite U.S. aluminum prices

rising approximately 50% in two years. Management believes any future decline in aluminum prices could provide additional gross margin

expansion. .

Management

believes the improvement reflects continued progress in production efficiency, cost discipline, pricing strength, and operating scale.

The margin milestone is important because, at higher gross margins, each incremental dollar of revenue can contribute more meaningfully

toward covering fixed operating costs.

Management

estimates that, assuming an approximate 35% gross margin level, Worksport would need to generate roughly $9 million in quarterly revenue

to achieve operational cash-flow positivity. Worksport continues to target initial operational cash-flow positivity within 2026,

supported by increased sales velocity and gross margins, expanding B2B distribution, ongoing B2C demand, and execution across its product

portfolio.

New

Meyer Distributing Relationship Expands Worksport’s B2B Reach

Worksport

also announced that it has secured Meyer Distributing as its first multinational distribution partner and has received an initial

purchase order for Worksport tonneau covers. Meyer Distributing is one of North America’s leading automotive aftermarket wholesale

distribution networks, serving dealers across the United States, Canada, and international markets with over 3.5 million sq. ft. of

warehouse space. Meyer was also recognized by the Specialty Equipment Market Association (SEMA) as Warehouse Distributor of the Year

in 2010, 2015, and 2017.

For

Worksport, the Meyer relationship represents more than an initial order. It marks a significant B2B milestone that gives the Company

access to a larger base of recurring orders from thousands of dealers, installers, and aftermarket resellers across USA and Canada,

at a time when Worksport is expanding production, launching new products, and targeting meaningful revenue growth in 2026.

The

Company believes the addition of Meyer–combined with recently announced Tri-State Enterprises traction and existing wholesale

and dealer relationships including Patriot Auto, and Worksport’s expanding dealer network–strengthens its commercial

platform and supports a larger recurring revenue opportunity as Worksport products move through established aftermarket sales channels.

$36M+

Annualized Revenue Opportunity Supported by B2C and B2B Growth

Worksport’s

B2C activity is currently tracking near approximately $1 million per month, or approximately $12 million annualized. Separately,

B2B sales were recently tracking near approximately $0.7 million per month, or approximately $8.4 million annualized.

With

the addition of Meyer Distributing, recent Tri-State momentum, existing channel relationships, and continued dealer network expansion,

management believes B2B annualized revenue potential can expand toward $24 million or more over the next 12 months following activation

and ramp-up of these relationships.

When

combined with current B2C activity, this supports a total annualized revenue opportunity of approximately $36 million or more. Management

believes this opportunity aligns with Worksport’s previously stated near-term cash-flow positivity goals and reflects a more scalable

commercial base than the Company had entering the year.

CEO

Commentary

“We

believe Worksport is entering a very different phase of the business,” said Steven Rossi, Founder and Chief Executive Officer of

Worksport. “Last week’s investment reflected external confidence in our direction. Today’s update demonstrates an operating

foundation: expanding distribution, improving gross margins, compelling B2C activity, and a clear revenue path toward near-term

operational cash-flow positivity.”

Mr.

Rossi added, “The Meyer relationship is an important step for our B2B strategy. Meyer is a respected name in automotive

aftermarket distribution, and we believe its reach can help Worksport products move through a much larger dealer and installer network

over time. Combined with Tri-State, Patriot Auto, AllPro, our expanding dealer base, and our new Nexus cover, we believe the commercial

architecture needed to scale is coming together.”

Mr.

Rossi concluded, “At approximately 35% gross margin, Worksport looks very different than it did a year ago. Each additional

dollar of revenue has more potential impact. Our objective remains clear: increase sales velocity, expand margins, convert inventory,

grow distribution, and pursue initial operational cash-flow positivity within 2026. We believe the inflection point we have been working

toward is beginning to take shape.”

Worksport

intends to continue updating shareholders as B2B onboarding, distributor sell-through, NEXUS adoption, margin progression, and

overall revenue conversion progress through 2026.

Stay

tuned for more information and join our mailing list to stay up to date with the latest: Join Worksport’s Newsletter

Contacts

Investor

Relations, Worksport Ltd. T: 1 (888) 554-8789 ext. 128

investors.worksport.com W: www.worksport.com E: investors@worksport.com

Connect

with Worksport Chief Executive Officer, Steven Rossi

Steven

Rossi X (Twitter)

Steven

Rossi LinkedIn

About

Worksport

Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau

covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport’s hard-folding cover,

designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including

the electric vehicle (EV) sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations

with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy’s

website is terravisenergy.com.

Connect

with Worksport

Please

follow the Company’s social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube,

and Instagram, the links of which are links to external third-party websites, as well as sign up for the Company’s newsletters

at investors.worksport.com.

Social

Media Disclaimer

The

Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than

content published by the Company. Investors and others should note that the Company announces material financial information to our investors

using our investor relations website, press releases, Securities and Exchange Commission (“SEC”) filings, and public conference

calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors,

the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material

non-public information on social media. If there is any significant financial information, the Company will release it broadly to the

public through a press release or SEC filing prior to publishing it on social media.

Forward-Looking

Statements

The

information contained herein may contain “forward-looking statements.” Forward-looking statements reflect the current view

about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,”

“scheduled,” “expect,” “future,” “intend,” “plan,” “project,”

“envisioned,” “should,” or the negative of these terms and similar expressions, as they relate to us or our management,

identify forward-looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they

are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies,

projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the

future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which

are outside of our control. Our actual results and financial situation may differ materially from those indicated in the forward-looking

statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual

results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the

following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to

sell our products; (iv) competition from other producers of similar products; and (v) with respect to any potential additional financing

transactions, there can be no assurance that any such transactions will be consummated, and any such transactions would be subject to,

among other things, market conditions, available shelf registration capacity, applicable regulatory requirements (including Nasdaq listing

rules), negotiation and execution of definitive documentation on mutually acceptable terms, and approval by the Company’s Board

of Directors. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements

is set forth in the Company’s filings with the SEC, including, without limitation, our latest Annual Report on Form 10-K and our

Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web

site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the

Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained

in this press release. The forward-looking statements made in this press release are made only as of the date of this press release,

and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.

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