Nucor earnings beat by $0.08, revenue fell short of estimates
HOUSTON - KULR Technology Group, Inc. (NYSE American: KULR), a $257 million market cap company known for its advanced energy management solutions, has recently sold its NASA-certified M35A battery cells to a significant private U.S. space company for use in their spaceflight programs. With trailing twelve-month revenue of $9.7 million and an impressive gross margin of 41.5%, this transaction emphasizes the increasing market demand for KULR’s high-performance, cost-efficient energy solutions. According to InvestingPro analysis, the company’s stock has shown remarkable volatility, with additional insights available in their comprehensive Pro Research Report.
The M35A cells are notable for their role in NASA’s Artemis II mission and are also being incorporated into KULR’s 400 watt-hour K1 Space battery. While the K1 Space battery is expected to be completed within March and will subsequently undergo a review by NASA’s safety board, InvestingPro data indicates the company operates with a current ratio of 0.81, suggesting careful management of production resources will be crucial. The M35A cells are designed to meet NASA’s stringent 20793 standards and boast an energy density of 214 watt-hours per kilogram at C/20 and -20°C, making them particularly suitable for the challenging environment of space missions.
In December 2024, KULR announced the immediate availability of the M35A cells, which streamlines the procurement process for customers by offering a ready-to-use solution that aligns affordability with high safety and performance standards. Each cell comes with detailed screening data, lot numbers, and serial numbers to ensure traceability and quality assurance.
KULR CEO Michael Mo expressed pride in providing state-of-the-art energy solutions that adhere to the highest industry benchmarks while remaining economically viable. The adoption of M35A cells by a leading space company validates their functionality and effectiveness. KULR’s ongoing collaboration with NASA also includes efforts to enhance America’s Strategic Battery Reserve, which aims to increase the accessibility of 20793-compliant cell formats and technologies for aerospace and defense applications.
KULR Technology Group Inc. delivers innovative energy storage solutions for the space, aerospace, and defense sectors by utilizing its battery design expertise, comprehensive testing suite, and production capabilities. The company’s approach enables the delivery of both commercial-off-the-shelf and custom next-generation energy storage systems promptly and cost-effectively.
This news is based on a press release statement from KULR Technology Group, Inc. The company has also diversified its treasury program to include bitcoin, committing up to 90% of its surplus cash to the cryptocurrency since December 4, 2024. The stock has demonstrated significant momentum, posting a 321% return over the past six months, though InvestingPro analysis reveals over 10 additional key insights about the company’s financial health and market position. For further details, please refer to KULR’s official communications or access the detailed Pro Research Report available on InvestingPro.
In other recent news, KULR Technology Group, Inc. has achieved significant milestones and strategic developments. The company announced that its headquarters in Webster, Texas, has received AS9100 certification, a recognized standard for quality management in the aerospace and defense sectors. This certification may open doors for growth opportunities in these industries. Additionally, KULR expanded its Bitcoin Treasury by purchasing an additional $10 million in bitcoin, bringing its total holdings to approximately $60 million. The company uses BTC Yield as a key performance indicator for its bitcoin strategy, reporting a 167.3% yield year to date.
KULR also increased its common stock offering from $50 million to $100 million, which may enhance its financial flexibility. This expansion was detailed in a filing with the Securities and Exchange Commission under an agreement with Craig-Hallum Capital Group LLC. In partnership news, KULR has teamed up with Scripps Research Institute’s Baran Lab to develop a new pyrolytic carbon electrode material, which could transform synthetic organic electrochemistry. Furthermore, KULR issued 270,000 shares of its Non-convertible Series A Voting Preferred Stock to its CEO, Michael Mo, as part of a strategy to enhance strategic flexibility and protect against hostile actions.
The company has also adjusted executive compensation to align with market rates, increasing salaries and granting restricted stock units to its executives. These developments reflect KULR’s efforts to strengthen its market position and reward leadership for navigating market challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.