KULR Technology Group Inc
F:7FA0
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KULR Technology Group Inc
F:7FA0
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US |
KULR Technology Group Inc
KULR Technology Group, Inc. engages in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems. The company is headquartered in San Diego, California and currently employs 62 full-time employees. The company went IPO on 2018-05-21. The firm is engaged in developing, manufacturing, and licensing carbon fiber thermal management technologies for batteries and electronic systems. For its aerospace and Department of Defense (DOD) application, the Company's solution targets high-performance applications in direct energy, hypersonic vehicles and satellite communications. For commercial applications, its focus is 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 communication devices. Its heat management products and services are divided into various categories, Lithium-Ion Battery Thermal Runaway Shield (TRS), CellCheck, KULR-Tech Safe Case, Fiber Thermal Interface Material (FTI), Phase Change Material (PCM) Heat Sink, Internal Short Circuit (ISC) Device and CRUX Cathode.
KULR Technology Group, Inc. engages in developing, manufacturing, and licensing next-generation carbon fiber thermal management technologies for batteries and electronic systems. The company is headquartered in San Diego, California and currently employs 62 full-time employees. The company went IPO on 2018-05-21. The firm is engaged in developing, manufacturing, and licensing carbon fiber thermal management technologies for batteries and electronic systems. For its aerospace and Department of Defense (DOD) application, the Company's solution targets high-performance applications in direct energy, hypersonic vehicles and satellite communications. For commercial applications, its focus is 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 communication devices. Its heat management products and services are divided into various categories, Lithium-Ion Battery Thermal Runaway Shield (TRS), CellCheck, KULR-Tech Safe Case, Fiber Thermal Interface Material (FTI), Phase Change Material (PCM) Heat Sink, Internal Short Circuit (ISC) Device and CRUX Cathode.
Revenue: Q1 revenue rose 98% year over year to $4.8 million, with product sales up 84% to $2.1 million, showing meaningful top-line momentum.
Margins: Gross margin improved sharply, with blended gross margin at about 29% versus 8% a year ago and product sales gross margin at 26%.
Cost discipline: Operating losses narrowed, helped by lower spending; management said R&D and SG&A both declined year over year.
Production ramp: KULR said its new manufacturing space and production lines are on track, with Q3 start-up expected and capacity targeted at 10,000 battery packs per month.
Demand mix: Defense, drone, space, telecom and data center opportunities all appear to be building, with management calling out accelerating defense demand and multiple new program wins.
Balance sheet: The company said it has about $19 million of cash and about 1,085 Bitcoin in treasury, while emphasizing that it is not using cash to buy more Bitcoin.
