Pickup owners are among the automotive aftermarket’s biggest spenders. They spent more than $15 billion in 2025 modifying their trucks for work, off-road use and lifestyle, according to the SEMA, which puts pickup-related products at 30% of the $52.92 billion U.S. market for accessory and performance parts.
Tonneau covers, the hard and soft covers that close off a pickup’s cargo bed, are a steady part of that spending. Research firm Arizton values the U.S. tonneau cover market at $1.85 billion in 2025 and expects it to reach $2.62 billion by 2031, growth of about 6% a year. Portable power is growing much faster: Persistence Market Research forecasts that the global portable power station market will rise from about $1.8 billion in 2026 to $4.9 billion by 2033, or about 15% a year.
Worksport (Nasdaq: WKSP) sells into both markets, with its own truck bed covers alongside its COR portable power system and SOLIS solar cover. Its latest figures extend an eight-month sales climb, with orders now running ahead of what the company bills.
Preliminary figures released on October 6, 2026 show August 2026 sales orders of about $2.92 million, up 16.4% from July. Preliminary net sales grew 5.6% over the same period, to $2.34 million.
The gap is now visible in the company’s order book. August orders exceeded invoicing by about $532,000, which lifted Worksport’s estimated backlog from roughly $366,000 at the end of July to about $898,000, an increase of around 145%.
For a small manufacturer, orders that arrive faster than they can be billed can signal demand, but they still need to convert into recognized revenue and cash. The West Seneca, New York-based company, best known for its pickup truck bed covers, says that conversion is now its priority.
“Our priority is to convert this higher order pace into shipments and cash while keeping spending disciplined, so revenue growth translates into a financially stronger business for shareholders,” said Steven Rossi, Founder and Chief Executive Officer of Worksport.
Multiplied by 12, August orders give Worksport an annualized sales-order run rate of about $35.05 million, up from about $30.13 million based on July’s updated order figure. The company stresses that the run rate is illustrative. It assumes a constant monthly pace and is not a forecast, full-year guidance or a committed 12-month order book.
Worksport’s preliminary monthly net sales have increased in each successive month from January through August 2026, an eight-month climb from about $937,000 in January to $2.34 million in August, a gain of roughly 150%. In the second quarter, the company reported record net sales of $5.23 million, up 27.4% from a year earlier.
Margins have held up as volumes grew. August was the fourth consecutive month with a preliminary gross margin above 30%, after the second-quarter gross margin of about 31.5%, compared with 26.4% a year earlier.
“If we sustain that margin strength while growing revenue, we can generate more gross profit to cover operating expenses and narrow the gap to positive operating cash flow,” Rossi said. “Higher production volumes should also help us spread fixed manufacturing costs across more units, supporting further margin improvement as we scale.”
Cash is what makes the conversion question pressing. Worksport reported a second-quarter net loss of $3.97 million and ended June 2026 with $1.16 million in cash, though operating cash use fell to about $3.44 million from $8.23 million in the first quarter. In an August 27 SEC filing, the company announced a warrant inducement agreement expected to generate about $2.3 million in gross proceeds, before fees and expenses. Under the agreement, a holder agreed to exercise earlier warrants at a reduced price of $0.60 per share, down from $2.90, in exchange for new warrants. Shares issued upon exercise dilute existing shareholders, and exercise of the new warrants could cause further dilution. In August, management said it was targeting positive cash flow from operations within the remainder of 2026; that remained a target rather than an achieved result.
The August figures predate Worksport’s September channel expansion. On September 30, the company began selling its COR portable power system on Amazon, aiming the product at homeowners, contractors and campers beyond its truck-owner base. Any effect from that launch would show up in later months.
All of the monthly figures are preliminary and unaudited and may change after the company closes its books. Worksport estimates backlog from order and invoicing totals on a first-in, first-out basis rather than by tracking individual orders. The next few months will show whether the growing backlog becomes invoiced sales.