Overview

• US energy-systems platform's Q1 revenue rose 98% yr/yr

• Gross margin improved to 29% from 8% a year ago

• Net loss widened due to non-cash bitcoin mark-to-market loss

Outlook

• Company did not provide specific guidance or outlook for the current quarter or full year

Result Drivers

• REVENUE GROWTH - Co said revenue increased 98% yr/yr, reflecting growing customer traction across core battery and energy systems platforms

• COST CONTROL - Co reduced SG&A and R&D expenses, contributing to a 22% decrease in operating loss

• BITCOIN LOSS IMPACT - Net loss widened due to a $20.8 mln non-cash mark-to-market loss on bitcoin holdings

Company press release: ID:nGNX5fC5Py

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Gross Margin		29.00%

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the electrical components & equipment peer group is "buy"

• Wall Street's median 12-month price target for KULR Technology Group Inc is $8.00, about 97.5% above its May 13 closing price of $4.05

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