Worksport annualizes August sales orders to $35.05 million run rate
WKSP•Worksport reported a $35.05 million annualized sales-order run rate based on preliminary August orders of $2.92 million. August orders rose 16.4% from July, preliminary net sales increased 5.6% to $2.34 million, and estimated backlog climbed 145.1% to $898,000.
1. August sales and orders
Worksport said preliminary August orders were $2.92 million, up 16.4% from July’s $2.51 million, implying a $35.05 million annualized run rate. Preliminary net sales increased 5.6% to $2.34 million, while estimated backlog rose 145.1% to $898,000 as orders exceeded invoicing by about $532,000.
2. Margins and cash flow
Preliminary gross margin exceeded 30% for a fourth straight month, and monthly net sales were up about 150% since January. Management flagged a path toward positive operating cash flow if gross margin stays above 30% while revenue scales.
