Form 8-K

8-K — Worksport Ltd

Accession: 0001493152-26-049703

Filed: 2026-11-03

Period: 2026-11-03

CIK: 0001096275

SIC: 3714 (MOTOR VEHICLE PARTS & ACCESSORIES)

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — form8-k.htm (Primary)

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2026-11-03

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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): November 03, 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.

November 03, 2026, Worksport Ltd. (the “Company”) issued a press release: “Worksport Reports Preliminary Q3 Results,

Reduces Operating Cash Use 89% from Second Quarter to Approximately $0.37 Million; Delivers record net sales of approximately $7.24 million”

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 November 03, 2026, “Worksport Reports Preliminary Q3 Results, Reduces Operating Cash Use 89% from Second Quarter to Approximately $0.37 Million; Delivers record net sales of approximately $7.24 million”

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: November 03, 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

Reports Preliminary Q3 Results, Reduces Operating Cash Use 89% from Second Quarter to Approximately $0.37 Million; Delivers record net

sales of approximately $7.24 million

Operating

cash use about 5% of net sales, down from 66% in Q2 and 249% in Q1; B2B and distribution reached 50% of September net sales

Ninth

consecutive month of net sales growth; September sets Company record at $2.68 million

West

Seneca, New York, November 03, 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 preliminary third-quarter 2026 results. Net cash used in operating activities was approximately $0.37 million,

an improvement of ~$3.1 million or 89% compared to ~$3.4 million in the second quarter, and down from ~$8.2 million in the first

quarter, as the Company converted approximately $2.5 million of inventory into sales and cash.

Preliminary

Third-Quarter 2026 Highlights

● Operating

cash use at a single-digit percentage of net sales: approximately 5% in the third quarter,

down from 66% in the second quarter and 249% in the first quarter

● Record

net sales of approximately $7.2 million, up 44% year-over-year and 38% from the second

quarter

● Nine

Consecutive Months of Growth: September net sales reached a Company-record $2.68 million,

supported by sustained gross margins above 30% and an expanding contribution from B2B sales.

Management highlights that while the sales-mix now has more B2B sales, gross margin has remained

stable, reflecting improved business health.

From

Investment to Conversion

Worksport

built inventory during the first half of 2026 to support its product launches and distribution expansion. In the third quarter, the Company

began converting that inventory into sales and cash, reducing inventory to approximately $9.6 million at September 30 from $12.1 million

at June 30, as production is transitioning toward a just-in-time model.

Growth

Led by Distribution

B2B

and distribution sales reached 50% of September net sales, up from 25% in December 2025, as distribution partners added Worksport

products. SOLIS, while not yet a significant contributor to net sales, has now more than quadrupled its sales from the second

quarter. Third-quarter sales orders of approximately $7.87 million exceeded invoiced sales, leaving an estimated backlog of approximately

$740,000 at September 30, up from approximately $117,000 at June 30.

“Based

on our current operating cash use, the resources available to us, including our credit facility, and the inventory we still must convert,

we believe the business is in position to reach operating cash flow breakeven. Achieving that sustainably will let us build growth

without significant dependence on equity financing. We still have work ahead of us, but the gap continues to narrow, and the pieces

are in place. We described the first quarter as our investment and launch readiness quarter, and said the second half would be about

conversion. The third quarter delivered on that,” said Steven Rossi, Chief Executive Officer of Worksport. “We converted

inventory into sales and cash, grew gross profit faster than recurring cash costs, and reduced the cash our operations use by more than

95% since the first quarter.”

Worksport

expects to report full third-quarter 2026 results with its Quarterly Report on Form 10-Q, followed by its earnings call on November

10, 2026, aftermarket.

Sign-up

for the call here: https://us06web.zoom.us/webinar/register/WN_GpWdIF_gQpW_7Lk1ATXZuQ

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) 554-8789-128

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

Connect

with Worksport Chief Executive Officer, Steven Rossi

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 has an active partnership

with Hyundai for the SOLIS Solar cover. Additionally, 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 its investors

using its 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.

Supplemental

Operating Metrics and Preliminary Results

The

Company presents sales orders, invoiced sales, estimated backlog and sales-channel mix to provide additional context on demand and operating

trends alongside its U.S. GAAP financial results. Management uses these metrics to evaluate operating performance and support strategic

decisions. These metrics are not substitutes for recognized net sales and may differ from similarly titled metrics used by other companies.

Sales

orders represent the value of orders received and recorded during the applicable month. Invoiced sales reflect monthly invoicing before

applying certain discounts. Estimated backlog is derived from sales orders and invoicing totals using a first-in, first-out allocation

assumption, rather than an order-level analysis of fulfillment dates. These metrics are distinct from recognized net sales; conversion

of sales orders and estimated backlog to revenue depend on fulfillment and satisfaction of applicable revenue-recognition requirements.

Operating

cash use refers to net cash used in operating activities as presented in the Company’s preliminary condensed consolidated statement

of cash flows prepared in accordance with U.S. GAAP. Inventory converted into sales and cash refers to the reduction in the Company’s

inventory balance between June 30, 2026 and September 30, 2026. B2B and distribution mix reflects preliminary net sales to business and

distribution customers as a percentage of total net sales, as classified by management. Operating cash use as a percentage of net sales

is net cash used in operating activities divided by preliminary net sales for the same period.

The

third-quarter financial information in this release is preliminary and unaudited, is based on management’s current close, remains

subject to the completion of quarter-end review procedures, and may differ from the results to be reported in the Company’s Quarterly

Report on Form 10-Q for the quarter ended September 30, 2026.

Forward-Looking

Statements

The

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

about future events. Forward-looking statements in this release include expectations regarding operating cash flow, liquidity, reliance

on equity or other external financing, progress toward operating cash flow breakeven, inventory conversion, order and backlog conversion,

sales-channel mix, production volumes and gross margin. 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; (v) order cancellations or fulfillment

delays, production constraints and working-capital requirements; (vi) the Company’s ability to continue converting inventory into

sales and cash and to reduce operating cash use; and (vii) the availability of financing on acceptable terms. 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, except as required by applicable law.

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