KULR Q1 revenue surges 778% to $1.8M; net loss widens to $6.6M

KULR Technology Group, Inc.

2023-Q1 EPS reported -$0.06 revenue$1,759,802

Revenue $1.8M vs $0.2M YoY; driven by product sales and contract services.
Net loss $6.6M ($0.06 per share) vs $4.1M ($0.04 per share) YoY; operating loss $6.3M.
Cash balance $7.2M Mar 31, down from $10.3M Dec 31, 2022.
Awarded $1.13M U.S. Army contract; new CFO Shawn Canter from Goldman Sachs.
Opened R&D center in Texas; secured NASA contract for automated cell screening.

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 first quarter ended March 31, 2023 results: revenue $1.8 million, net income $6.6 million, EPS $0.06 per share.

Period: first quarter ended March 31, 2023
Revenue: $1.8 million
Net income: $6.6 million
EPS: $0.06 per share
Result: reported results

Exact text from the filing

today reported results for the first quarter ended March 31, 2023. First Quarter 2023 Financial Results Revenues: In the first quarter ended March 31, 2023, revenue increased to $1.8 million from $0.2 million reported in the same period last year. The 778% year over year revenue increase was primarily due to an increase in product sales and contract services revenues

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Source: SEC EDGAR

accession 0001104659-23-060778

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