KULR Technology Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2024
November 13, 2024 at 04:14 pm EST
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KULR Technology Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2024. For the third quarter, the company reported sales was USD 3.19 million compared to USD 3.04 million a year ago. Net loss was USD 2 million compared to USD 5.56 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.05 a year ago.
For the nine months, sales was USD 7.37 million compared to USD 7.5 million a year ago. Net loss was USD 12.9 million compared to USD 18.5 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.16 a year ago.
KULR Technology Group, Inc. is an energy management platform company. The Company is engaged in developing, manufacturing, and licensing carbon fiber thermal management technologies for batteries and electronic systems. For aerospace and Department of Defense (DOD) applications, its solutions target high-performance applications in direct energy, hypersonic vehicles, and satellite communications. For commercial applications, its focus is a total solution to battery safety and sustainability. This total battery safety solution can be used for electric vehicles, energy storage, battery recycling transportation, cloud computing and fifth generation (5G) communication devices. Its product and service offerings include KULR ONE, KULR VIBE, Lithium-Ion Battery Thermal Runaway Shield, KULR Automated Battery Cell Screening and Test System, CellCheck, KULR SafeCase, Fiber Thermal Interface Material, Phase Change Material (PCM) Heat Sink, Internal Short Circuit (ISC) Device, and CRUX Cathode.