KULR reports record Q3 2022 revenue of $1.4M but net loss widens to $5.6M

KULR Technology Group, Inc.

2022-Q3 EPS reported -$0.14 revenue$2,181,230

Revenue of $1.4M, record quarter, up 133% YoY from $0.6M.
Net loss of $5.6M ($0.05 per share), vs $3.1M ($0.03) YoY; operating loss $5.0M.
Gross margin fell to 33% from 74% due to higher labor and component costs.
Cash $16.2M at Sep 30, 2022, up from $14.9M at Dec 31, 2021.
Operational highlights: Phase 2 for Lockheed Martin, orders from DoD, Fortune 20, Fortune 500, SafeCase DoT approval.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KULR Technology Group, Inc. reported the third quarter ended September 30, 2022 results: revenue $1.4 million, net income $5.6 million, or a loss of $0.05 per share, EPS $0.05 per share.

Period: the third quarter ended September 30, 2022
Revenue: $1.4 million
Net income: $5.6 million, or a loss of $0.05 per share
EPS: $0.05 per share
Result: reported results

Exact text from the filing

results for the third quarter ended September 30, 2022. Third Quarter 2022 Financial Results Revenues: In the third quarter ended September 30, 2022, revenue increased to $1.4 million from $0.6 million reported in the same period last year. The increase in revenue was primarily due to an increase in contract services and product sales revenues in the quarter.

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Source: SEC EDGAR

accession 0001104659-22-116495

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