Worksport regained Nasdaq minimum bid requirement after a 75% share rise over five trading days. The company reported a preliminary May gross margin of 35% (up 660 bps), secured a national distribution agreement with Meyer Distributing and set a $36M+ annual revenue run rate target.
On June 24, Worksport’s shares closed above the minimum Nasdaq bid requirement, marking a 75% gain over five trading days and preserving the company’s listing status.
Preliminary May gross margin reached approximately 35%, up 660 basis points from Q1 levels, driven by manufacturing efficiencies and pricing discipline. The company’s current annualized revenue run rate exceeds $21 million and is projected to surpass $36 million within 12 months.
Worksport expanded its North American reach by partnering with Meyer Distributing to broaden dealer and installer access. The company also completed two direct investments at premium valuations and is evaluating up to $10 million in additional financing.
CEO Steven Rossi will host a live investor town hall on June 30 to outline second-half 2026 execution plans, discuss NEXUS product traction, distributor onboarding, and pathways to initial operational cash-flow positivity.
