secwatch.observer — SEC 8-K summary
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Issuer:     KULR Technology Group, Inc. (KULR)
CIK:        0001662684
Form:       8-K
Filed at:   2024-04-12T23:59:59+00:00
Accession:  0001104659-24-046773
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KULR reports FY2023 revenue up 146% to $9.8M; net loss widens to $23.7M
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- Revenue $9,830,166 in FY2023 vs $3,994,634 in FY2022, a 146% YoY increase driven by energy storage and battery transport sectors.
- Net loss $23,693,556 ($0.20 per share) vs $19,436,479 ($0.18) in FY2022; cash fell to $1,194,764 from $10,333,564.
- SG&A expenses rose 21% to $19.9M; R&D expenses up 48% to $6.2M; headcount reduced to 57 employees from 62.
- Billed 53 customers in 2023, up 47% from 36 in 2022; secured contracts with H55 ($1M+), Nanoracks ($865k), and Lockheed Martin (six-figure).
- Received new DOT special permits (21693, 21704) for SafeX battery transport and recycling, expanding service offerings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1662684/000110465924046773/0001104659-24-046773-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1662684/000110465924046773/tm2411757d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-046773

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