Financial Data and Key Metrics Changes - Revenue increased by 40% year-over-year to $2.4 million for Q1 2025, marking the highest trailing twelve months revenue Cooler has ever generated [26] - Product revenue surged by 89%, while service revenue declined by 8%, with the company recognizing its first Bitcoin mining revenue of $250,000 [27] - Gross margin for Q1 2025 was down primarily due to unanticipated labor hours needed for technical projects [27] - Cash balance at the end of Q1 was $24 million, with total assets amounting to $94 million and no material financial debts [28] Business Line Data and Key Metrics Changes - Overall revenue per customer increased by approximately 64%, with product revenue per customer up 195% and service revenue per customer up 7% [27] - The company is focusing on its Koother One battery platform and has expanded its facility footprint to approximately 31,000 square feet, doubling battery production capacity [11] Market Data and Key Metrics Changes - The exoskeleton market is projected to grow from $2.5 billion to $24 billion by 2031, driven by labor shortages in manufacturing and other sectors [31] - The global market for wearable robotics is expected to reach $42 billion by 2033, indicating significant growth potential [14] Company Strategy and Development Direction - Cooler Technology Group is positioning itself as a Bitcoin-first company, integrating Bitcoin into its core strategy and identity [6][24] - The company is entering strategic BTC mining opportunities and has launched a blockchain-secured supply chain initiative [10] - The partnership with German Bionic aims to enhance productivity and safety in various industries through the use of exoskeleton technology [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in doubling revenue by the end of 2025, citing strong performance in Q1 2025 as a positive indicator [44] - The company acknowledges the challenges in the EV battery market, opting to focus on high-margin sectors instead [46] - Management emphasized the importance of navigating a dynamic and volatile future, highlighting the strategic role of Bitcoin in their operations [24] Other Important Information - The company will not be extending its San Diego lease and will consolidate operations into its Webster, Texas facility [34] - A grant of $6.7 million from the Texas Space Commission will support the development of next-generation space battery systems [13] Q&A Session Summary Question: Is KULR still pursuing a deal with UPS for SafeCase? - Yes, the company continues to pursue a deal with UPS for SafeCase [35] Question: Does KULR still have a licensing deal with Ampreus? - KULR has a technology design partnership with Ampreus, focusing on high-energy and high-power batteries [36] Question: Is Cooler paying SpaceX to take their tech into space in 2026? - Yes, Cooler is paying SpaceX to take their CubeSat and battery into space in 2027 [38] Question: Which partnerships do you think will be the most profitable in the short term? - Both the Cooler One space development and the new AI robotics opportunity are promising [39] Question: What is the California facility used for now? - The California facility is transitioning all activities to the Webster, Texas facility by the end of the year [40] Question: What do you say to investors waiting on sales agreements? - The company expects to engage more customers and move them into production faster due to the expanded facility [42] Question: Does this quarter give you confidence in doubling revenue by the end of 2025? - Yes, the company still expects to double revenue by the end of 2025 [44] Question: What is KULR's vision for providing batteries for the EV industry? - KULR has intentionally stayed away from the EV battery market due to its challenging nature and razor-thin margins [46] Question: Does KULR have plans for other battery needs besides current solutions? - Currently, KULR is focused on its quarter '1 platform for space, DOD, robotics, and industrial applications, not consumer products [49]

Financial Data and Key Metrics Changes - Revenue for Q1 2025 increased by 40% year-over-year to $2.4 million, marking the highest trailing twelve months revenue Cooler has ever generated and the third consecutive quarter of record revenue [26] - Product revenue rose by 89%, while service revenue decreased by 8%, with the company recognizing its first Bitcoin mining revenue of $250,000 [26] - Overall revenue per customer increased by approximately 64%, with product revenue per customer up 195% and service revenue per customer up 7% [26] - Gross margin for Q1 2025 was 18%, down primarily due to unanticipated labor hours needed for technical projects [26] Business Line Data and Key Metrics Changes - The battery business is entering a pivotal phase with accelerated development cycles, increased production scale, and enhanced capacity [11] - The company has expanded its facility footprint to approximately 31,000 square feet, doubling its battery production capacity [11] - The Apogee exoskeleton suit is being marketed to various sectors, with a focus on addressing labor shortages and enhancing worker safety [15][16] Market Data and Key Metrics Changes - The global market for wearable robotics is projected to reach $42 billion by 2033, indicating significant growth potential [14] - The exoskeleton market is expected to grow from $2.5 billion to $24 billion by 2031, driven by labor shortages in the manufacturing sector [30] Company Strategy and Development Direction - The company is positioning itself as a Bitcoin-first organization, integrating Bitcoin into its core strategy and operations [6][24] - Cooler is focusing on strategic partnerships, such as with German Bionic for exoskeleton technology, to enhance productivity and safety in various industries [30][31] - The company is consolidating its operations from California to Texas to streamline activities and improve efficiency [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in doubling revenue by the end of 2025, citing strong performance in Q1 2025 as a positive indicator [43] - The company acknowledges the challenges in the EV battery market, opting to focus on high-margin sectors instead [45] - Management emphasized the importance of navigating volatility in Bitcoin and the broader market landscape [25] Other Important Information - The company holds $55 million worth of Bitcoin, with a total asset value of $94 million and no material financial debts [27] - A non-operating, non-cash expense of approximately $9.7 million was recorded due to a mark-to-market adjustment of Bitcoin holdings [28] Q&A Session Summary Question: Is KULR still pursuing a deal with UPS for SafeCase? - Yes, the company continues to pursue a deal with UPS on SafeCase for large-sized batteries [34] Question: Does KULR still have a licensing deal with Ampreus? - The company has a technology design partnership with Ampreus, focusing on high-energy and high-power batteries [35][36] Question: Is Cooler paying SpaceX to take their tech into space in 2026? - Yes, Cooler is paying SpaceX to take its CubeSat and battery into space in 2027 [37] Question: Which partnerships do you think will be the most profitable in the short term? - The company is excited about both the Cooler One space development and the new AI robotics opportunity [38] Question: What is the California facility used for now? - The California facility is transitioning all activities to the Webster, Texas facility by the end of the year [39] Question: What do you say to investors waiting on sales agreements? - The company expects to engage more customers and move them into production faster due to the expanded facility [41] Question: Does KULR have plans for other battery needs besides current solutions? - Currently, the focus is on the quarter '1 platform for space, DOD, robotics, and industrial applications, not consumer-oriented products [48]