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Kelso Technologies Inc. (KIQ) delivers critical safety solutions for the railway industry through patented equipment and engineering expertise. This news hub provides investors and industry professionals with authoritative updates on operational developments, regulatory milestones, and strategic initiatives.
Access consolidated coverage of earnings announcements, product innovations, and industry partnerships. Our repository includes verified press releases about AAR-certified equipment launches, operational efficiency improvements, and market expansion efforts within the rail safety sector.
Bookmark this page for streamlined tracking of Kelso's progress in developing pressure relief systems, manway technologies, and other safety-critical components. Regular updates ensure you stay informed about the company's role in advancing transportation safety standards across North America.
Kelso Technologies Inc. released its financial results for Q1 2024, reporting revenues of $2.65M, a rise from $2.46M in Q1 2023. The gross profit slightly increased to $1.11M from $1.09M, while the gross profit margin dropped to 42% from 44%. Non-cash expenses rose significantly to $540K from $255K, and the net loss narrowed to $698K from $787K. Adjusted EBITDA loss improved to $159K from $532K. As of March 31, 2024, Kelso had $1.07M in cash, down from $1.43M on December 31, 2023. The working capital decreased to $4.02M from $5.03M. The company had no long-term debt. Kelso expects stable rail tank car deliveries in 2024 and 2025, despite pandemic challenges. The company is focused on obtaining AAR approvals for its pressure car package, potentially boosting revenue. Kelso also progresses in its ADAS technology for wilderness vehicles, aiming for a significant market share by 2025.
