KULR Technology Group (NYSEAMERICAN:KULR) Issues Quarterly Earnings Results, Misses Expectations By $0.39 EPS

KULR Technology Group (NYSEAMERICAN:KULR) released its quarterly earnings data on Thursday. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.39), FiscalAI reports. KULR Technology Group had a negative net margin of 607.65% and a negative return on equity of 51.89%. The company had revenue of $2.08 million during the quarter, compared to analysts’ expectations of $9.00 million.

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 NYSEAMERICAN:KULR traded down $0.33 during mid-day trading on Friday, hitting $2.64. 3,609,402 shares of the company traded hands, compared to its average volume of 1,043,283. The firm’s 50 day simple moving average is $3.24 and its 200 day simple moving average is $3.12. The firm has a market cap of $122.13 million, a P/E ratio of -1.19 and a beta of 2.31. KULR Technology Group has a 52-week low of $1.94 and a 52-week high of $6.30.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. XTX Topco Ltd lifted its holdings in KULR Technology Group by 294.4% in the 4th quarter. XTX Topco Ltd now owns 94,499 shares of the company’s stock worth $280,000 after buying an additional 70,540 shares in the last quarter. AQR Capital Management LLC increased its position in shares of KULR Technology Group by 62.7% during the fourth quarter. AQR Capital Management LLC now owns 23,614 shares of the company’s stock worth $70,000 after acquiring an additional 9,098 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of KULR Technology Group during the fourth quarter worth about $613,000. Price T Rowe Associates Inc. MD lifted its stake in shares of KULR Technology Group by 13.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 40,578 shares of the company’s stock worth $121,000 after acquiring an additional 4,757 shares in the last quarter. Finally, Arosa Capital Management LP acquired a new position in shares of KULR Technology Group in the fourth quarter worth about $888,000. 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.