KULR Technology Group reported Q3 2024 revenue of $3.19M, up 5% YoY, with gross profit increasing 69% to $2.26M. The quarter was highlighted by a significant improvement in gross margin to 71% from 44% last year, driven by a new $1.03M IP licensing agreement for KULR VIBE technology. Product sales declined 60% to $765K, while contract services grew 22% to $1.39M.Operating expenses decreased substantially, with R&D costs down 32% to $1.23M and SG&A expenses reduced 41% to $2.74M through strategic cost management and operational efficiencies. The company strengthened its financial position by raising $3.43M through an ATM offering and establishing new merchant cash advance agreements, though maintaining adequate liquidity remains a key focus.The company expanded its strategic initiatives by signing a $2.35M licensing deal for its vibration reduction technology and relocating headquarters to Webster, Texas. While facing working capital challenges, KULR continues to execute its growth strategy in energy storage and thermal management solutions, with particular focus on aerospace, defense and industrial applications. The NYSE American has accepted KULR's compliance plan, giving the company until June 2025 to meet listing requirements.

KULR Technology Group reported Q3 2024 revenue of $3.19M, up 5% YoY, with gross profit increasing 69% to $2.26M. The quarter was highlighted by a significant improvement in gross margin to 71% from 44% last year, driven by a new $1.03M IP licensing agreement for KULR VIBE technology. Product sales declined 60% to $765K, while contract services grew 22% to $1.39M.Operating expenses decreased substantially, with R&D costs down 32% to $1.23M and SG&A expenses reduced 41% to $2.74M through strategic cost management and operational efficiencies. The company strengthened its financial position by raising $3.43M through an ATM offering and establishing new merchant cash advance agreements, though maintaining adequate liquidity remains a key focus.The company expanded its strategic initiatives by signing a $2.35M licensing deal for its vibration reduction technology and relocating headquarters to Webster, Texas. While facing working capital challenges, KULR continues to execute its growth strategy in energy storage and thermal management solutions, with particular focus on aerospace, defense and industrial applications. The NYSE American has accepted KULR's compliance plan, giving the company until June 2025 to meet listing requirements.