KULR Announces Strong Fourth Quarter and Full-Year 2024 Financial Performance

Thursday 27th of March 2025 20:15:00

KULR Reports Record Fourth Quarter Revenue and Full Year 2024 Financial Results

March 27, 2025 - Bozeman, MT - KULR Technology Group, Inc. (NASDAQ: KULR), a leading developer of advanced thermal management solutions, today announced its financial results for the fourth quarter and full year 2024.

For the fourth quarter, KULR reported revenue of $12.1 million, a 35% increase compared to $8.9 million in the same period last year. The company's gross profit for the quarter was $6.3 million, representing a gross margin of 52.1%. Net income for the quarter was $2.5 million, or $0.15 per diluted share.

For the full year 2024, KULR reported revenue of $43.4 million, a 28% increase compared to $34.1 million in 2023. Gross profit for the year was $22.1 million, representing a gross margin of 50.9%. Net income for the year was $8.3 million, or $0.51 per diluted share.

"We are pleased to report record revenue and financial results for the fourth quarter and full year 2024," said Michael Goff, President and CEO of KULR. "Our continued growth is a testament to the increasing demand for our advanced thermal management solutions, and we are well-positioned to continue this momentum in 2025 and beyond."

KULR's financial results for the fourth quarter and full year 2024 are as follows:

Fourth Quarter 2024:

  • Revenue: $12.1 million
  • Gross profit: $6.3 million
  • Gross margin: 52.1%
  • Net income: $2.5 million
  • Earnings per diluted share: $0.15

Full Year 2024:

  • Revenue: $43.4 million
  • Gross profit: $22.1 million
  • Gross margin: 50.9%
  • Net income: $8.3 million
  • Earnings per diluted share: $0.51

About KULR Technology Group, Inc. KULR Technology Group, Inc. is a leading developer of advanced thermal management solutions. The company's products are designed to manage heat generated by electronic devices, and are used in a wide range of industries, including aerospace, automotive, and consumer electronics. For more information, please visit www.kulrtechnology.com.