Worksport Registers ~20% Sales Decline In Q3

by Shivani Kumaresan, Benzinga Staff Writer

November 15, 2021 12:02 PM | 1 min read | Make a Comment

Worksport Ltd WKSP reported a third-quarter FY21 sales decline of 19.8% year-on-year, to $0.093 million. The cost of sales declined 13% Y/Y.
Net loss for the quarter expanded to $(2.04) million in Q3 from $(0.37) million last year.
General and administrative expenses increased 10-fold to $0.52 million.
The company held $29 million in cash and equivalents as of September 30, 2021.
Worksport has also started developing its eCommerce site, which is expected to launch in January 2022.
Price Action: WKSP shares are trading lower by 5.45% at $4.86 on the last check Monday.