SAN DIEGO, Aug. 12, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today reported results for the second quarter ended June 30, 2024. Second Quarter 2024 Financial Results Revenues: In the second quarter that ended June 30, 2024, revenue was $2.43 million compared to $2.70 million reported in the same period last year. Contract Services revenue increased 75.7%, with revenue of approximately $1.30 million ...

With a leading position in safe battery design and testing, and as a significant player in the global electrification movement, KULR is among the few companies to meet the stringent requirements and rigorous testing standards of NASA's JSC 20793 Revision D for crewed space missions. This qualification enables KULR's products and solutions to be used in the Artemis missions and other upcoming critical space voyages. KULR specializes in evaluating battery cells essential for manned space missions. To meet gro ...

Battery Testing and Analysis Services Unit to Generate $8 Million to $10 Million Revenue Annually Starting in 2025 SAN DIEGO, May 29, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a global leader in sustainable energy management, today announced it has secured a contract from a top Japanese multinational automaker ("Automaker") for testing and analysis of high-energy battery cells intended for their next-generation electric vehicles. The Company will u ...

Core Insights - KULR Technology Group has secured a contract with a leading Japanese automaker for testing high-energy battery cells, which is expected to generate annual revenue of $8 million to $10 million starting in 2025 [1][3] - The company utilizes its KULR ONE Design Solutions (K1-DS) platform to enhance design readiness for the automaker's future electric vehicle projects [1][3] - KULR's testing protocols are considered among the most comprehensive in the industry, incorporating advanced techniques such as Fractional Thermal Runaway Calorimetry (FTRC) [2][4] Revenue Generation - The K1-DS platform is projected to evolve into a standalone business generating $8 to $10 million annually without requiring additional investment in testing capabilities [3] - KULR recognizes design services as a high-margin, recurring revenue stream, particularly targeting the automotive sector [4] Market Trends - The demand for battery testing services is driven by electric vehicle manufacturers' need for improved efficiency and faster charging times [4] - According to the International Energy Agency, electric vehicles are expected to represent 35% of new vehicle sales globally by 2030 [4] Company Overview - KULR Technology Group is a leader in energy management solutions, focusing on sustainable practices and the electrification of the circular economy [5] - The company has developed next-generation carbon fiber thermal management technologies for batteries and electronic systems, enhancing operational efficiency and sustainability [5]

Company Strategy and Leadership - KULR Technology Group's CEO Michael Mo voluntarily reduced his cash compensation by 33% and opted for an equity incentive grant that vests after 12 months, aligning his interests with shareholders [1] - The revised compensation model ensures one-third of the CEO's salary is tied to the company's stock market value, directly correlating his benefits with value creation [2] - The CEO emphasized the importance of operating in a lean and agile manner, citing a 23% reduction in operating and investment cash usage in Q1 2024 compared to Q1 2023 [3] Market and Product Outlook - The company is focusing on capturing market share in space, military, and industrial battery applications over the next three years, leveraging its KULR ONE platform [3] - KULR Technology Group is positioned as a leader in energy management solutions, contributing to the electrification of the circular economy through its carbon fiber thermal management technologies [4] Financial and Operational Performance - The company has successfully reduced its cash consumption, with a 23% decrease in operating and investment cash usage in Q1 2024 compared to the same period in 2023 [3]

SAN DIEGO, May 23, 2024 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), global leader in safe and high-performance energy storage solutions, today announced that, in keeping with the Company's recent efforts to reduce its cash consumption, KULR's compensation committee approved a voluntary request by CEO Michael Mo to reduce the cash component of his compensation by 33% and, believing in the future of KULR, to instead grant him an equity incentive grant that ...

Vancouver, Kelowna, and Delta, British Columbia--(Newsfile Corp. - May 23, 2024) - Investorideas.com, a go- to investing platform covering electric vehicles releases a report on the evolution of the sector as the recreational market follows suit, featuring KULR Technology Group, Inc (NYSE American: KULR), a global leader in safe and high-performance energy storage solutions. Read the full article on Investorideas.com https://www.investorideas.com/News/2024/renewable-energy/05230Recreational-Market-EV.asp Al ...

The partnership highlights BRP's proactive approach to thermal runaway management across all its e-mobility market verticals – including National Fire Protection Association (NFPA) 1192, while concurrently aligning with KULR's development of the KULR ONE Design Solutions (K1-DS) platform, which focuses on regulatory compliance, including battery cell testing, propagation-resistant materials, pack and module level testing. The NFPA 1192 standard establishes fire and life safety criteria for recreational vehi ...

Core Viewpoint - KULR Technology Group, Inc. (KULR) has experienced a significant decline of 21.7% over the past four weeks, but is now positioned for a potential trend reversal as it enters oversold territory, with analysts predicting better earnings than previously expected [1] Group 1: Technical Indicators - The Relative Strength Index (RSI) is utilized to identify oversold stocks, with a reading below 30 indicating oversold conditions [2] - KULR's current RSI reading is 27.58, suggesting that the heavy selling pressure may be exhausting, indicating a possible rebound [5] Group 2: Fundamental Indicators - There is a strong consensus among sell-side analysts that KULR's earnings estimates for the current year have increased by 9.1% over the last 30 days, which typically correlates with price appreciation [6] - KULR holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a turnaround [7]

Core Points - Kulr Technology reported a Q1 2024 earnings per share of -4 cents, missing Wall Street's expectation of -2 cents per share, although it improved from -6 cents per share year-over-year [1][2] - The company's Q1 revenue was $1.75 million, significantly below analysts' estimate of $4.6 million, with no year-over-year revenue growth [2] - Despite the challenges, the CFO stated that there is ongoing customer demand for KULR products and services, and the company is focused on investing in growth while managing costs [3] Stock Performance - KULR stock is down 27.7% as of Thursday morning, but it had previously increased by 159.2% year-to-date before the earnings report [4] - Trading volume for KULR stock was about 800,000 shares, far below the daily average of approximately 12.6 million shares [3]