Core Insights - Kelso Technologies Inc. reported its third consecutive profitable quarter with a net income of $182,851 for Q3-2025, and gross revenue increased by 11.3% year-over-year to $2.81 million [5][12][15] - The company has successfully reduced total expenses by 20% year-to-date, amounting to $766,486, demonstrating a commitment to cost management and operational efficiency [5][13] - Kelso is diversifying its operations beyond rail markets into sectors such as Water & Wastewater, Oil & Gas, Chemicals, Paper & Pulp, and Irrigation, leveraging existing assets for minimal capital investment [5][13][14] Financial Performance Summary - For Q3-2025, revenues were $2,808,144 compared to $2,523,282 in Q3-2024, with a gross profit of $1,166,259 and a gross profit margin of 42% [6] - Year-to-date revenues for 2025 reached $8,609,426, up from $8,067,477 in 2024, with a gross profit of $3,651,459 [6] - The company reported a profit from continuing operations of $762,806 for the nine months ended September 30, 2025, compared to a loss of $414,402 in the same period of 2024 [6] Liquidity and Capital Resources - As of September 30, 2025, the company had cash of $835,098 and working capital of $2,893,240, an increase from $2,125,386 at the end of 2024 [9][10] - The total assets were $6,516,637, slightly down from $6,570,345 at the end of 2024, while net equity increased to $4,896,343 [10] - The company increased its line of credit from $500,000 to $1,000,000, enhancing its financial flexibility [11] Outlook - Kelso anticipates sales growth of 0% to 5% for FY2025 compared to 2024, with new tank car production expected to decline in 2026 but recover in 2027 [14] - The company is focused on securing AAR approvals for its Angle Valve and Bottom Outlet Valve, which are in service trials, to unlock new revenue streams [14] - Kelso's proactive measures, including market diversification and strengthening liquidity, position it well for long-term success despite modest near-term growth expectations [15]

Core Points - Kelso Technologies Inc. announces the retirement of Lead Director Paul Cass effective August 31, 2025, with Independent Director Jesse Crews taking over the role from September 1, 2025 [1][4] - Sameer Uplenchwar, the CFO, has been appointed to the newly vacant seat on the Board of Directors [1][4] - Paul Cass has served on the board for approximately ten years, holding various positions including Chair of the Audit Committee and Lead Director, contributing significantly to the company [2][3] - Jesse Crews, the new Lead Director, has extensive experience in the rail industry and has been an Independent Director since 2018 [3][4] Company Overview - Kelso Technologies is a diverse transportation equipment company specializing in the creation, production, sales, and distribution of proprietary products for rail and other transportation sectors [5] - The company focuses on high-quality tank car valves designed for safe handling and containment of commodities during rail transport, addressing public safety and environmental concerns [5]

Core Insights - Kelso Technologies Inc. reported its second consecutive profitable quarter with a net income of $72,175 for Q2-2025, despite a revenue decline of 8.6% year-over-year due to macroeconomic challenges [5][12][14] - The company anticipates flat to slightly positive sales growth of 0% to 5% for FY2025 compared to FY2024, while maintaining disciplined cost management to prepare for future demand increases [5][14][16] - Kelso is actively seeking full approval from the Association of American Railroads (AAR) for its new products, which is expected to create new revenue opportunities [15][17] Financial Performance Summary - For the three months ended June 30, 2025, revenues were $2,643,208, down from $2,891,591 in the same period of 2024, with a gross profit of $1,075,446 and a gross profit margin of 41% [4][5] - In the first half of 2025, total revenues reached $5,801,283, slightly up from $5,544,195 in the first half of 2024, with a gross profit of $2,485,201 and a gross profit margin of 43% [4][5] - The company reduced total expenses by 30% year-over-year, amounting to $580,303, demonstrating effective cost management [5][12] Liquidity and Capital Resources - As of June 30, 2025, the company had cash of $488,273 and accounts receivable of $1,303,613, compared to cash of $153,147 and accounts receivable of $1,091,304 as of December 31, 2024 [8][9] - The working capital position improved to $2,682,405 as of June 30, 2025, up from $2,125,386 at the end of 2024 [9] - The company fully repaid $250,000 drawn from its $500,000 line of credit, now having access to the entire amount [10] Strategic Outlook - The company is preparing for a potential rebound in tank car builds, expecting lower production in 2026 but a rise to 13,000 units in 2027 [16] - Kelso's strategic focus includes maintaining operational readiness and cost management to capitalize on anticipated demand increases in the rail industry [14][16] - The company aims to enhance profitability through a wider array of new proprietary products and improved operational efficiency [17][18]

Core Points - Kelso Technologies Inc. held its Annual General and Special Meeting on June 3, 2025, with significant shareholder participation [1][2] - A total of 24,737,277 common shares were voted, representing 44.85% of the outstanding shares [2] Election of Directors - The number of directors elected was set at five, with 96.2% of votes in favor [3] - The following nominees were elected with their respective vote percentages: - Frank Busch: 81.24% For - Paul Cass: 77.37% For - Laura Roach: 80.43% For - Jesse V. Crews: 76.69% For - Mark Temen: 81.06% For [3] Appointment of Auditors - Smythe, LLP was reappointed as the auditors with 92.03% of votes in favor [4] Omnibus Equity Incentive Plan - The adoption of the Omnibus Equity Incentive Plan was approved with 69.56% of votes in favor [5] - New officer appointments were made, including: - Frank Busch as President and CEO - Sameer Uplenchwar as CFO - Anthony Andrukaitis retiring as COO on June 30, 2025 - Amanda Smith moving to COO on July 1, 2025 [5] Company Overview - Kelso Technologies is a transportation equipment company focused on rail and automotive sectors, specializing in high-quality rail tank car valves [6] - The company aims to enhance public safety and reduce environmental risks through innovative product designs [6]

Core Viewpoint - Kelso Technologies Inc. reported its first profitable quarter since Q1-2020, with a net income of $412,337 for Q1-2025, indicating a positive turnaround in financial performance [5][11]. Financial Performance Summary - Revenues for Q1-2025 reached $3,158,074, a 19.06% increase from $2,652,604 in Q1-2024 [4][5]. - Gross profit increased to $1,409,754, with a gross profit margin of 45%, up from 42% in the previous year [4][5]. - The company reported a net income of $412,337, compared to a net loss of $698,759 in Q1-2024 [4][5]. - Adjusted EBITDA for Q1-2025 was $412,172, significantly higher than $99,720 in Q1-2024 [4][6]. Liquidity and Capital Resources - As of March 31, 2025, the company had cash of $417,188 and accounts receivable of $1,596,583, compared to cash of $1,066,089 and accounts receivable of $939,641 as of March 31, 2024 [4][8]. - Working capital improved to $2,570,415 from $2,125,386 at the end of 2024 [9]. - Total assets were reported at $6,877,978, down from $10,207,748 in the previous year [6][9]. Strategic Outlook - The company anticipates flat to slightly positive sales growth of 0% to 5% for FY2025 compared to FY2024, focusing on cost discipline in preparation for increased tank car production expected in 2026/2027 [12][15]. - Kelso is seeking full approval from the Association of American Railroads (AAR) for its Bottom Outlet Valve and Angle Valve, which is expected to create new revenue opportunities [13]. - The forecast for tank car deliveries shows a modest increase, with expectations of 10,325 units in 2025, indicating a 15.8% rise over the average from 2021 to 2023 [14].

Core Points - Kelso Technologies Inc. announces the retirement of Anthony Andrukaitis from the Board of Directors and as Chief Operating Officer, effective June 3rd and June 30th, 2025, respectively [1][2] - Amanda Smith will take over as COO starting July 1, 2025, following a mentorship period with Andrukaitis [1][4] - Mark Temen has been appointed as the sixth member of the Board of Directors, bringing financial expertise to the company [1][5][6] Company Leadership Transition - Andrukaitis has served since October 24, 2011, and has been instrumental in building a strong team and mentoring Smith [2] - His retirement was delayed due to challenges posed by the COVID-19 pandemic and the rail recession [3] - The transition to Smith is expected to be seamless, with the elimination of the Executive Vice President of Operations position as part of cost-reduction efforts [4] Board Composition - Mark Temen's appointment is seen as a significant addition to the Board, enhancing governance with his finance and business experience [5][6] - The Board expresses gratitude for Andrukaitis's long service and contributions to the company [6] Company Overview - Kelso Technologies specializes in the design, production, and distribution of proprietary products for rail and automotive transportation [7] - The company focuses on safety and efficiency in its rail equipment business, particularly in the production of high-quality tank car valves [7]

Core Points - Kelso Technologies Inc. announces the retirement of Anthony Andrukaitis from the Board of Directors effective June 3, 2025, and as Chief Operating Officer effective June 30, 2025, with Amanda Smith set to assume the COO role starting July 1, 2025 [1][4] - Mark Temen has been appointed as the sixth member of the Board of Directors, bringing years of finance and business experience [1][5][6] Management Transition - Andrukaitis has served since October 24, 2011, building a strong team and mentoring Amanda Smith for the COO role [2] - His retirement was delayed due to challenges posed by the COVID-19 pandemic and the rail recession, during which he provided guidance to the new management team [3] - Amanda Smith expressed gratitude for Andrukaitis's mentorship and leadership during difficult business challenges [4] Board Composition - The Corporate Governance and Nominating Committee welcomed Mark Temen to the Board, highlighting his financial expertise as a valuable addition [5][6] - The company expressed appreciation for Andrukaitis's long service and contributions to the organization [6] Company Overview - Kelso Technologies specializes in the creation, production, sales, and distribution of proprietary products for rail and automotive transportation, focusing on safety and operational efficiency [7]