From GlobeNewswire: 2025-03-27 16:15:00

KULR Technology Group, Inc. announced fourth-quarter 2024 financial results, showing a 44% revenue increase to $3.37 million and a 29% decrease in operating loss. The company had $29.83 million in cash and $20.28 million in Bitcoin holdings as of December 31, 2024. Gross margin was 64% in Q4 2024.

The company was awarded a defense contract for a specialized Phase-Change Material (PCM) heat sink for a missile program and a contract by the U.S. Navy to develop high-temperature Internal Short Circuit (ISC) cells. KULR also launched its KULR Xero Vibe™ solution on the NVIDIA Jetson edge AI platform.

KULR announced a Bitcoin Treasury strategy and expanded its Bitcoin holdings to 668 BTC with a 181.1% BTC yield. The company also signed a service agreement to launch the KULR ONE Space (K1S) battery on a SpaceX rideshare mission in 2026.

Additionally, KULR regained compliance with NYSE American Stockholders’ Equity Requirement, signed a distribution and integration agreement with EDOM Technology, and announced a collaboration with the U.S. Army to evaluate vibration reduction on helicopter platforms. KULR also granted a carbon fiber cathode license for nuclear reactor applications and collaborated with Scripps Research on pyrolytic carbon electrode technology.

For full-year 2024, KULR reported a 9% revenue increase to $10.74 million, reduced SG&A and R&D expenses, and decreased net loss to $17.52 million. The company’s cash position improved to $29.83 million, with $20.28 million in Bitcoin holdings as of December 31, 2024.

KULR Technology Group will host its Fourth Quarter and Full-Year 2024 Earnings Call on March 27th, 2025, at 4:30 p.m. Eastern time. To access the call, registration is required via the provided link. Details for replaying the conference call will also be available on KULR’s website.



Read more at GlobeNewswire:: KULR Reports Record Fourth Quarter Revenue and Full-Year