KULR Technology Group, Inc. Announces Revenue Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Revenue Guidance for the Fourth Quarter 2018
November 13, 2018 at 05:15 pm EST
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KULR Technology Group, Inc. announced revenue results for the third quarter and nine months ended September 30, 2018. For the three months ended September 30, 2018, the company generated $482,798 and $15,106 of revenues, an increase of $467,692. The company revenues consisted of sales of the company component product, the company Carbon Fiber Velvet (CFV) thermal management solution.
For the nine months ended September 30, 2018, the company generated $881,929 and $26,006 of revenues, an increase of $855,923. the company revenues consisted of sales of the company component product, the company CFV thermal management solution, sales of an Original Equipment Manufacturer (OEM) product as well as certain research and development contract services.
For the fourth quarter 2018, the company revenue for the third quarter of 2018 increased 182% as compared to the 2nd quarter of 2018, showing early signs of the momentum in the company business and the company growth potential. In the quarters ahead, the company plan to forge additional global OEM ventures as well as deepen the company partnerships within the aerospace and defense sectors. The company anticipates the company top line growth continuing for the next several quarters as the company diversified product lines gain further adoption in primarily the aerospace, defense, and electric vehicle markets.
KULR Technology Group, Inc. is an energy management platform company. The Company is engaged in developing, manufacturing, and licensing carbon fiber thermal management technologies for batteries and electronic systems. For its aerospace and Department of Defense (DOD) application, the Company's solution targets high-performance applications in direct energy, hypersonic vehicles and satellite communications. For commercial applications, its focus is solution to battery safety and sustainability. This total battery safety solution can be used for electric vehicles, energy storage, battery recycling transportation, cloud computing and fifth generation communication devices. Its heat management products and services are divided into various categories, Lithium-Ion Battery Thermal Runaway Shield (TRS), CellCheck, KULR-Tech Safe Case, Fiber Thermal Interface Material (FTI), Phase Change Material (PCM) Heat Sink, Internal Short Circuit (ISC) Device and CRUX Cathode.
KULR Technology Group, Inc. Announces Revenue Results for the Third Quarter and Nine Months Ended September 30, 2018; Provides Revenue Guidance for the Fourth Quarter 2018