KULR Technology Group (KULR, Financial) has entered into a strategic partnership with AstroForge to create a cutting-edge 500 watt-hour battery pack, known as the KULR ONE Space (K1S). This collaboration underscores the increasing demand for high-performance battery solutions within the burgeoning space battery sector, which is forecasted to grow from $3.9 billion to $6.35 billion by 2030, according to analysis by Virtue Market Research.
The innovative K1S battery pack is designed using KULR's proven modules and complies with NASA JSC 20793 standards, ensuring a reliable and quick-to-market solution that perfectly suits AstroForge's critical mission requirements. The K1S model is constructed from NASA-approved cells and undergoes rigorous validation through WI-37 screening processes. This development highlights KULR's expertise in engineering optimized battery designs that achieve maximum volumetric and gravimetric energy density, setting a new standard in the industry.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for KULR Technology Group Inc (KULR, Financial) is $5.50 with a high estimate of $6.00 and a low estimate of $5.00. The average target implies an upside of 343.55% from the current price of $1.24. More detailed estimate data can be found on the KULR Technology Group Inc (KULR) Forecast page.
Based on the consensus recommendation from 2 brokerage firms, KULR Technology Group Inc's (KULR, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for KULR Technology Group Inc (KULR, Financial) in one year is $1.26, suggesting a upside of 1.61% from the current price of $1.24. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the KULR Technology Group Inc (KULR) Summary page.
KULR Key Business Developments
Release Date: March 27, 2025
- Q4 2024 Revenue: $3.37 million, up 44% from Q4 2023.
- Full Year 2024 Revenue: $10.7 million, up 9% from 2023.
- Q4 2024 Gross Margin: 64%, compared to 29% in Q4 2023.
- Full Year 2024 Gross Margin: 51%, up from 37% in 2023.
- Product Revenue 2024: $3.6 million, down 47% year over year.
- Service Revenue 2024: $4.4 million, up 51% from 2023.
- Operating Loss: Decreased by 29% year over year.
- R&D Expenses 2024: Down 34% from 2023.
- SG&A Expenses 2024: Down 16% from 2023.
- Earnings Per Share 2024: Improved by 55% over 2023.
- Paying Customers 2024: 71, up from 53 in 2023.
- Cash and Bitcoin Holdings: Over $80 million as of March 26, 2025.
- Bitcoin Holdings: 667 Bitcoins.
- Total Assets End of 2024: $63 million, up 479% from end of 2023.
- Total Liabilities End of 2024: Down 58% to $5.5 million.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- KULR Technology Group Inc (KULR, Financial) reported a record revenue of $3.37 million for Q4 2024, marking a 44% increase from Q4 2023.
- The company's gross margin improved significantly to 64% in Q4 2024, compared to 29% in the same quarter of the previous year.
- KULR expanded its customer base, with product sale customers increasing from 39% in 2023 to 53% in 2024, and service revenue customers doubling from 17 to 34.
- The company holds a strong financial position with over $80 million in cash and Bitcoin holdings and no debt.
- KULR is expanding its headquarters in Webster, Texas, to accommodate growth, adding over 13,000 square feet of office space.
Negative Points
- Product revenue decreased by 47% year over year in 2024, despite overall revenue growth.
- A significant customer did not order any products in 2024, impacting revenue, although the company managed to offset this with new customers.
- KULR's heavy investment in Bitcoin raises concerns about volatility and whether funds could be better allocated to company growth.
- The company has not yet secured contracts for providing service technicians on US military airbases, despite interest in such opportunities.
- KULR's involvement in nuclear energy projects is in early stages and expected to take a long time to materialize.
