KULR Technology Group, Inc. Q3 FY2021 Earnings Call

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  • Revenue: $600,000 in Q3 2021, a 339% increase compared to $137,000 in Q3 2020. Growth was attributed to increased product sales and new contracts.
  • Gross Margin: 74%, driven by favorable product mix, indicating improved operational leverage.
  • SG&A Expenses: Rose to $3.1 million (up 273% from $830,000 in Q3 2020), primarily due to increased stock-based compensation, marketing, travel, and consultancy costs post-COVID.
  • R&D Investment: Increased significantly to $482,000 (up 830% from $52,000 in Q3 2020), supporting aggressive product development efforts.
  • Net Loss: Increased to $3.1 million (from $1 million in Q3 2020); loss per share was $0.03 vs. $0.01 YoY.
  • Cash Position: $11 million as of Q3 end; increased further by $6.5 million in Q4 from warrant exercises. KULR remains debt-free.
  • NYSE American Listing: Celebrated in July 2021; options trading began in November. Institutional support includes Vanguard (3%), along with State Street, Northern Trust, and Charles Schwab.

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Operator: Welcome and thank you for joining us for the KULR Technology Group Incorporated November 2021 Shareholder Update Call and Discussion of the Third Quarter 2021 Financial Results. KULR Technology Group is a publicly traded company listed on the New York Stock Exchange under the ticker symbol KULR. Therefore, it is important that I start this call with a reading of the Safe Harbor statement covering this call. Now this call does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This call may contain certain forward-looking statements based on the company's current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements made on this call are based on the information available to KULR Technology Group as of the date hereof. The company's actual results may differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with the company's business, which include risk factors disclosed in the company's Form 10-K filed with the Securities and Exchange Commission on March 19, 2021. Forward-looking statements include statements regarding the company's expectations, beliefs, intentions, or strategies regarding the future, and can be identified by forward-looking words, such as anticipate, believe, could, estimate, expect, intent, may, should, and would, or similar words. All forecasts are provided by management on this call

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