KULR Technology Group (NYSEAMERICAN:KULR) Posts Quarterly Earnings Results

KULR Technology Group (NYSEAMERICAN:KULR) released its quarterly earnings data on Thursday. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.39), FiscalAI reports. KULR Technology Group had a negative net margin of 383.52% and a negative return on equity of 45.70%. The company had revenue of $2.08 million for the quarter, compared to the consensus estimate of $9.00 million.

Here are the key takeaways from KULR Technology Group’s conference call:

• Q2 revenue fell to $2.1 million, down sharply from the prior year and first quarter, and the company reported a gross loss. Management attributed the shortfall to supply-chain delays, execution challenges, leadership transitions, and Texas production capacity not yet being operational.
• KULR exited Bitcoin mining, sold 333 Bitcoin to repay its $20 million credit facility, and released 565 Bitcoin held as collateral. Management said the company now has approximately $60 million in cash and other balance-sheet resources, no debt, and avoided ATM share issuance during the first half.
• Management expects second-half improvement as delayed shipments recover, the Texas facility and automated battery lines become operational in Q3, and production volumes ramp. The company is also increasing inventory and multi-sourcing components to improve supply-chain resilience and fulfillment capacity.
• KULR cited expanding demand in U.S. drones, defense, space, maritime, and robotics, including initial defense-drone battery orders from a customer participating in the Drone Dominance initiative representing an opportunity exceeding $5 million. It also highlighted selection by Axiom Space and plans to begin shipping NDA-compliant chargers to U.S. customers by year-end.
• The company is conducting an operating review focused on customer and program economics, ERP and data improvements, vendor efficiency, and prioritizing KULR ONE programs with the strongest strategic and financial value. SG&A declined 9% year over year in Q2, while management emphasized that cost reductions must be paired with revenue growth and margin improvement.

KULR Technology Group Stock Performance

KULR stock traded down $0.33 during midday trading on Friday, reaching $2.65. The company’s stock had a trading volume of 3,393,287 shares, compared to its average volume of 1,880,162. The stock has a fifty day simple moving average of $3.26 and a two-hundred day simple moving average of $3.12. KULR Technology Group has a 1 year low of $1.94 and a 1 year high of $6.30. The firm has a market capitalization of $122.36 million, a price-to-earnings ratio of -1.72 and a beta of 2.31.

Hedge Funds Weigh In On KULR Technology Group

Several institutional investors have recently made changes to their positions in KULR. BNP Paribas Financial Markets lifted its holdings in KULR Technology Group by 147.9% during the third quarter. BNP Paribas Financial Markets now owns 6,956 shares of the company’s stock worth $29,000 after buying an additional 4,150 shares during the period. Russell Investments Group Ltd. raised its position in shares of KULR Technology Group by 201.7% in the 4th quarter. Russell Investments Group Ltd. now owns 9,167 shares of the company’s stock worth $27,000 after acquiring an additional 6,129 shares in the last quarter. Focus Partners Wealth bought a new position in shares of KULR Technology Group in the 3rd quarter worth $42,000. The Manufacturers Life Insurance Company purchased a new stake in shares of KULR Technology Group during the 2nd quarter worth $81,000. Finally, LPL Financial LLC lifted its stake in shares of KULR Technology Group by 51.1% during the 4th quarter. LPL Financial LLC now owns 16,158 shares of the company’s stock worth $48,000 after purchasing an additional 5,466 shares during the last quarter. Hedge funds and other institutional investors own 21.23% of the company’s stock.

About KULR Technology Group

KULR Technology Group, Inc, through its subsidiary, KULR Technology Corporation, develops and commercializes thermal management technologies for electronics, batteries, and other components applications in the United States. It provides lithium-ion battery thermal runaway shields; automated battery cell screening and test systems; cellchecks; safecases; fiber thermal interface materials; phase change material heat sinks; internal short circuit devices; and CRUX cathodes. The company's technologies are used in electric vehicles, energy storage, battery recycling transportation, cloud computing, and 5G communication devices.