Financial Data and Key Metrics Changes - KULR closed Q4 2024 with revenue of approximately $3.37 million, a 44% increase from Q4 2023, while operating loss decreased by 29% year-over-year [6] - Gross margin improved to 64% in Q4 2024 from 29% in Q4 2023, and for the full year 2024, gross margin was 51% compared to 37% in 2023 [30] - The company ended 2024 with approximately $30 million in cash and $20 million in Bitcoin holdings, with total assets increasing to $63 million from $11 million at the end of 2023 [7][33] Business Line Data and Key Metrics Changes - Product sales revenue was approximately $3.6 million in 2024, down 47% year-over-year, while service revenue was approximately $4.4 million, up 51% from the previous year [29] - The number of paying customers increased to 71 in 2024, up from 53 in 2023, with product customers rising by 36% and service customers doubling to 34 [31] Market Data and Key Metrics Changes - KULR is focusing on energy management solutions for fast-growing markets such as space exploration, robotics, and AI infrastructure [8] - The company is expanding its headquarters in Texas to accommodate growth, reflecting a strategic move to enhance its operational capacity [10] Company Strategy and Development Direction - KULR aims to double its revenue in 2025 by growing its energy management business and expanding into new applications [9] - The company is positioning itself as a total solution provider for battery products in the aerospace and defense industries, having received AS9100 certification [11] Management's Comments on Operating Environment and Future Outlook - Management believes that space travel will become more affordable and prevalent, with significant opportunities in privatized space exploration [37] - The company is committed to its Bitcoin treasury strategy, viewing Bitcoin as a long-term store of value and a means to build a dynamic corporate culture [19][46] Other Important Information - KULR has signed its first two revenue-generating license agreements, recording $2.7 million in revenue from these deals [29] - The company is actively exploring partnerships in the Bitcoin mining sector to reduce energy costs associated with its operations [20] Q&A Session Summary Question: Will space travel become more prevalent over the next 10 years? - Management believes space travel will become more affordable and privatized space exploration will create significant market opportunities [37] Question: Are there plans to diversify crypto or buy more? - The company is focused on its Bitcoin treasury program and does not plan to diversify into other cryptocurrencies [39] Question: Can KULR confirm its relationship with Rocket Lab? - Management declined to comment on rumors regarding a partnership with Rocket Lab [44] Question: Why is a large portion of cash being invested into Bitcoin? - The treasury strategy aims to retain liquidity while building a Bitcoin treasury, considering it a good store of value [46] Question: What is the current status of KULR's battery contracts? - KULR is ready to take on larger contracts and has expanded its facility to support increased production capacity [52] Question: What opportunities exist for KULR with private space stations? - The KULR ONE Space platform is gaining traction with private space companies, especially with ongoing certification processes [71] Question: How much revenue in Q4 came from licensing deals? - KULR generated $1.7 million in revenue from licensing in Q4 2024 [67] Question: What is the current status of the Guardian ONE contract with the Army? - The company is conducting testing and targeting prototype production in fall 2025 [89]

Financial Performance - Revenue increased by 44% to $3.37 million in Q4 2024 from $2.33 million in the same period last year[4] - Operating loss decreased by 29% to $3.54 million in Q4 2024 from $4.97 million in the same period last year[4] - Gross margin improved to 64% in Q4 2024 compared to 29% in the same period last year[4] - Full-year 2024 revenue increased by 9% to $10.74 million from $9.83 million in 2023[8] - SG&A expenses decreased by 16% to $15.98 million in 2024 from $18.94 million in 2023[9] - R&D expenses decreased to $4.74 million in 2024 from $7.14 million in 2023[9] Cash Position - Cash position improved significantly to $29.83 million as of December 31, 2024, compared to $1.19 million as of December 31, 2023[11] Investments and Acquisitions - KULR expanded its Bitcoin holdings to 668.3 BTC, with a total investment of $65 million in Bitcoin acquisitions[4] - KULR signed a multi-million-dollar licensing agreement for advanced carbon fiber cathode applications for nuclear reactor systems in Japan[5] Future Plans - KULR plans to launch the KULR ONE Space battery in 2026, targeting a space battery market projected to grow from $3.9 billion to $6.35 billion by 2030[5]

HOUSTON, March 27, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced its financial results for the fourth quarter and full-year 2024. Fourth Quarter 2024 Financial Highlights: Revenue increased by 44% to $3.37 million from the same quarterly period of the prior year.Operating loss decreased by 29% to $3.54 million from the same quarterly period of the prior year.The Company had $29.83 milli ...

HOUSTON, March 25, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $5 million to reach a total of $65 million in bitcoin acquisitions. The additional purchases were made at a weighted average price of $88,824 per bitcoin, inclusive of fees and expenses. The Company now holds 668.3 BTC. This strategic move aligns with KU ...

HOUSTON, March 13, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management solutions, is proud to announce that a prominent private U.S. space company has acquired its NASA-certified M35A battery cells for integration into their spaceflight programs. This milestone underscores the growing demand for KULR’s high-performance, cost-effective energy solutions.This latest purchase highlights the M35A’s versatility and KULR’s abi ...

Core Insights - KULR Technology Group has secured a significant contract with a prominent private U.S. space company for its NASA-certified M35A battery cells, indicating a rising demand for its energy solutions [1][4] - The M35A cells are integral to NASA's Artemis II mission and are being incorporated into KULR's upcoming 400 watt-hour K1 Space battery, which is set for completion this month [1][2] - KULR's M35A cells meet NASA's rigorous 20793 standards, boasting an energy density of 214 watt-hours per kilogram at C/20 and -20°C, making them suitable for space missions [2][3] Company Developments - KULR's CEO highlighted the endorsement from a leading private space company as a testament to the performance and practicality of their energy solutions [3] - The company is actively collaborating with NASA to expand America's Strategic Battery Reserve, enhancing access to compliant cell formats and technologies for aerospace and defense applications [3][4] - KULR's holistic approach to energy storage solutions includes in-house battery design, testing, and production capabilities, allowing for rapid delivery of both commercial and custom systems [5] Market Position - The recent acquisition of M35A cells reinforces KULR's status as a trusted provider of advanced energy solutions, contributing to the advancement of space exploration [4] - The company aims to balance affordability with high safety and performance standards, ensuring transparency and quality assurance through traceable cell data [2][5]

HOUSTON, March 11, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, will hold a conference call on Thursday, March 27th at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the fourth quarter and full year ended December 31, 2024. The financial results will be issued in a press release prior to the call. KULR management will host the conference call, followed by a questio ...

Certification will Strengthen KULR’s Position in Aerospace and Defense Manufacturing Sector HOUSTON, Feb. 20, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced their Webster, Texas headquarters facility has achieved AS9100 certification. This certification is a significant milestone confirming KULR’s commitment to quality, safety, and customer satisfaction within the aerospace and defense ma ...

HOUSTON, Feb. 11, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $10 million to reach a total of approximately $60 million in bitcoin acquisitions. The additional purchases were made at a weighted average price of $103,905 per bitcoin, inclusive of fees and expenses. The Company now holds 610.3 BTC. This stra ...

HOUSTON, Feb. 11, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced it has increased its bitcoin purchases for its Bitcoin Treasury by an additional $10 million to reach a total of approximately $60 million in bitcoin acquisitions. The additional purchases were made at a weighted average price of $103,905 per bitcoin, inclusive of fees and expenses. The Company now holds 610.3 BTC. This strategic move ...