KULR Technology Group (NYSEAMERICAN:KULR) Releases Earnings Results, Misses Estimates By $0.39 EPS

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

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

Shares of KULR stock remained flat at $2.97 on Thursday. 2,128,304 shares of the stock were exchanged, compared to its average volume of 1,869,512. The stock has a market capitalization of $137.39 million, a P/E ratio of -1.94 and a beta of 2.31. The firm has a 50 day simple moving average of $3.30 and a 200-day simple moving average of $3.13. KULR Technology Group has a one year low of $1.94 and a one year high of $6.30.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KULR. BNP Paribas Financial Markets increased its position in shares of 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 acquiring an additional 4,150 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in KULR Technology Group by 13.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 40,578 shares of the company’s stock valued at $121,000 after purchasing an additional 4,757 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in KULR Technology Group by 12.6% during the 4th quarter. Vontobel Holding Ltd. now owns 43,633 shares of the company’s stock worth $129,000 after purchasing an additional 4,893 shares in the last quarter. LPL Financial LLC raised its stake in shares of KULR Technology Group by 51.1% in the fourth 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. Finally, Russell Investments Group Ltd. lifted its holdings in shares of KULR Technology Group by 201.7% in the fourth quarter. Russell Investments Group Ltd. now owns 9,167 shares of the company’s stock valued at $27,000 after purchasing an additional 6,129 shares in the last quarter. 21.23% of the stock is owned by institutional investors and hedge funds.

KULR Technology Group Company Profile

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.