KULR Technology Group Hosts Q4 Shareholder Update Call

Rhea-AI Summary

KULR Technology Group (OTCQB:KULR) reported a remarkable 298% increase in revenue for Q4 2020, driven by growth in aerospace and government sectors. Gross margins improved significantly from 48% to 80% year-over-year. Additionally, shareholder equity surged from a deficit of $525,612 to a surplus of $6,118,552 within the same period. The company hosted a conference call on March 29, 2021, to discuss these results, which are available for replay on their website.

Positive

• 298% revenue increase year-over-year.
• Gross margins improved from 48% to 80%.
• Shareholder equity increased from a deficiency of $525,612 to a surplus of $6,118,552.

Negative

• None.

SAN DIEGO, CA / ACCESSWIRE / March 30, 2021 / KULR Technology Group Inc. (OTCQB:KULR) (the "Company" or "KULR"), a leading developer of next-generation thermal management technologies, announced today that company management hosted a conference call on Monday, March 29, 2021 to answer shareholder questions and to review its financial results for the fourth quarter of fiscal year 2020. The transcript and audio stream are available for replay on the Company's website available here.

Fourth Quarter 2020 Financial Highlights Included:

• Increase in revenue by 298% compared to the prior year corresponding quarter - mainly reflecting increased aerospace and government business.
• Improved gross margins from 48% in the quarter ended December 31, 2019 to 80% in the quarter ended December 31, 2020.
• Increased shareholder equity from a deficiency of $525,612 at September 30, 2020 to a surplus of $6,118,552 by the end of the quarter ended December 31, 2020.

About KULR Technology Group Inc.
KULR Technology Group Inc. (OTCQB:KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. Leveraging the company's roots in developing breakthrough cooling solutions for NASA space missions and backed by a strong intellectual property portfolio, KULR enables leading aerospace, electronics, energy storage, 5G infrastructure, and electric vehicle manufacturers to make their products cooler, lighter and safer for the consumer. For more information, please visit www.KULRTechnology.com.

Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on May 14, 2020. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts are provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Media Contact:
Derek Newton
Head, Media Relations
Main: (786) 499-8998
Derek.Newton@KULRTechnology.com

Investor Relations:
KULR Technology Group Inc.
Main: (888) 367-5559
IR@KULRTechnology.com

SOURCE: KULR Technology Group, Inc.

View source version on accesswire.com:
https://www.accesswire.com/638322/KULR-Technology-Group-Hosts-Q4-Shareholder-Update-Call

FAQ

What were KULR's financial results for Q4 2020?

KULR reported a 298% increase in revenue, improved gross margins to 80%, and increased shareholder equity to a surplus of $6,118,552.

When did KULR hold its conference call for Q4 results?

KULR held its conference call on March 29, 2021.

How much did KULR's revenue grow compared to last year?

KULR's revenue grew by 298% compared to the same quarter last year.

What factors contributed to KULR's revenue increase?

The increase was primarily driven by growth in the aerospace and government business.

Where can I find the replay of KULR's conference call?

The replay of KULR's conference call is available on the company's website.