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KULR Technology | 10-Q: Q2 2024 Earnings Report

KULR Technology | 10-Q: Q2 2024 Earnings Report

KULR Technology | 10-Q：2024财年二季报
美股SEC公告 ·  08/12 16:17

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KULR Technology Group, Inc. reported its financial results for the quarter ended June 30, 2024. The company saw a decrease in revenue, reporting $2.43 million compared to $2.70 million in the same period last year, a 10% decline. Product sales dropped by 42%, while contract services increased by 76%. The gross profit margin decreased to 24% from 37% year-on-year, primarily due to specific project costs with no corresponding revenue and increased depreciation expenses. Operating expenses saw a reduction, with R&D expenses decreasing by 32% and selling, general, and administrative expenses by 11%. The net loss widened to $5.89 million from $6.33 million in the previous year. The company's cash position decreased slightly to $1.02 million from $1.19 million at the end of 2023. KULR's liquidity was supported by equity offerings, including an At the Market Offering agreement for up to $20 million and merchant cash advance agreements. The company's focus remains on expanding its KULR ONE battery solutions and KULR VIBE vibration reduction technology, aiming to capitalize on the growing demand for energy storage and management solutions.
KULR Technology Group, Inc. reported its financial results for the quarter ended June 30, 2024. The company saw a decrease in revenue, reporting $2.43 million compared to $2.70 million in the same period last year, a 10% decline. Product sales dropped by 42%, while contract services increased by 76%. The gross profit margin decreased to 24% from 37% year-on-year, primarily due to specific project costs with no corresponding revenue and increased depreciation expenses. Operating expenses saw a reduction, with R&D expenses decreasing by 32% and selling, general, and administrative expenses by 11%. The net loss widened to $5.89 million from $6.33 million in the previous year. The company's cash position decreased slightly to $1.02 million from $1.19 million at the end of 2023. KULR's liquidity was supported by equity offerings, including an At the Market Offering agreement for up to $20 million and merchant cash advance agreements. The company's focus remains on expanding its KULR ONE battery solutions and KULR VIBE vibration reduction technology, aiming to capitalize on the growing demand for energy storage and management solutions.
KULR科技集团公司公布了截至2024年6月30日的财务业绩。该公司营业收入下降，报告243万美元，相比去年同期的270万美元下降了10％。产品销售下降了42％，而合同服务增长了76％。毛利润率由去年同期的37％下降至24％，主要是由于特定项目成本没有相应的收入和折旧费用增加。营业费用减少，研发费用减少32％，销售、一般和行政费用减少11％。净亏损从上一年的633万美元扩大至589万美元。该公司的现金头寸从2023年底的119万美元微降至102万美元。KULR的流动性得到了股本发行的支持，包括At the Market Offering协议，最高可达2000万美元和商业现金预付协议。该公司的重点仍然是扩大其KULR ONE电池解决方案和KULR VIBE减震技术，旨在利用不断增长的能源存储和管理解决方案的需求。
KULR科技集团公司公布了截至2024年6月30日的财务业绩。该公司营业收入下降，报告243万美元，相比去年同期的270万美元下降了10％。产品销售下降了42％，而合同服务增长了76％。毛利润率由去年同期的37％下降至24％，主要是由于特定项目成本没有相应的收入和折旧费用增加。营业费用减少，研发费用减少32％，销售、一般和行政费用减少11％。净亏损从上一年的633万美元扩大至589万美元。该公司的现金头寸从2023年底的119万美元微降至102万美元。KULR的流动性得到了股本发行的支持，包括At the Market Offering协议，最高可达2000万美元和商业现金预付协议。该公司的重点仍然是扩大其KULR ONE电池解决方案和KULR VIBE减震技术，旨在利用不断增长的能源存储和管理解决方案的需求。
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