- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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