Latest news with #MichaelMo
Yahoo
28-05-2025
- Business
- Yahoo
MicroStrategy-inspired KULR set to join Russell 3000 Index
KULR Technology Group, Inc. is set to be included in the Russell 3000 Index, effective after the U.S. market opens on June 30, according to the annual reconstitution of the Russell indexes for this year. The Russell 3000 Index tracks the performance of the 3,000 largest publicly traded companies in the United States, based on their total market capitalization. Fund managers and other investment professionals widely use it as a benchmark to manage the performance of the U.S. stock market. The index may include companies that are part of other related indexes, such as the Russell 1000 (for large companies), the Russell 2000 (for smaller ones), or growth value indexes that reflect the type of company based on financial measures. KULR has also been selected for inclusion in the Russell Microcap Index, which comprises the smallest 1,000 companies in the Russell 2000 Index. KULR creates highly disruptive products and technologies that address the evolving needs of electronics and energy storage for both commercial and military applications. In late 2024, KULR also generated headlines when it announced that it would invest up to 90% of its excess cash reserves in Bitcoin as part of its treasury strategy. Michael Saylor has praised KULR's approach to Bitcoin treasury, branding it as a bold alignment with sound money principles. KULR's CEO, Michael Mo, has also previously acknowledged Saylor's influence on their decision to adopt Bitcoin as a core treasury asset. The Russell indexes are maintained by FTSE Russell, which is part of the London Stock Exchange Group. These indices are essential benchmarks for gauging investment performance, and more than $18 trillion is tied to them globally. Beginning in 2026, FTSE Russell intends to update these indexes twice a year — once in June and then again in December, rather than just once — to stay better aligned with the marketplace as it evolves. MicroStrategy-inspired KULR set to join Russell 3000 Index first appeared on TheStreet on May 27, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
27-05-2025
- Business
- Associated Press
KULR Technology Group Set to Join Russell 3000® Index
HOUSTON, May 27, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the 'Company' or 'KULR'), a global leader in sustainable energy management, today announced it is set to join the broad-market Russell 3000® Index, effective after the United States market opens on June 30, as part of the 2025 Russell indexes reconstitution. The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes. 'KULR is honored to be included in both the Russell 3000® and Russell Microcap® Indexes,' said Michael Mo, CEO of KULR. 'This marks another important milestone in our growth trajectory and is expected to enhance both our visibility and liquidity among institutional investors.' Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. Fiona Bassett, CEO of FTSE Russell, an LSEG business, commented: 'The Russell indexes have continuously adapted to the evolving dynamic US economy, and it's crucial to fully recalibrate the suite of Russell US Indexes, ensuring the indexes maintain an accurate representation of the market. The transition to a semi-annual reconstitution frequency from 2026 will ensure our indexes continue to represent the market and maintain the purpose of the index as a portfolio benchmark.' For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the 'Russell Reconstitution' section on the FTSE Russell website. About KULR Technology Group Inc. KULR Technology Group Inc. (NYSE American: KULR) delivers cutting edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company's holistic offering allows delivery of commercial-off-the-shelf and custom next generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. On December 4, 2024, KULR announced that its Board of Directors has agreed to include bitcoin as a primary asset in its treasury program and committed to allocating up to 90% of its surplus cash to the acquisition of bitcoin. For more information, please visit About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell. Safe Harbor Statement 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 March 31, 2025, as may be amended or supplemented by other reports we file with the Securities and Exchange Commission from time to time. 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 based 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. Investor Relations: KULR Technology Group, Inc. Phone: 858-866-8478 x 847 Email: [email protected] KULR Media Relations: M Group Strategic Communications (on behalf of KULR) Email: [email protected]
Globe and Mail
15-04-2025
- Business
- Globe and Mail
KULR Expands into High-Growth Robotics Market with German Bionic AI-Powered Exoskeletons for U.S. Workforce
HOUSTON, April 15, 2025 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a leader in advanced energy management platforms, today announced the launch of a new strategic partnership with German Bionic ('GB'), a leading global robotics company known for its groundbreaking robotic exoskeleton, Apogee ULTRA, to expand into the rapidly growing fields of robotics and artificial intelligence. GB counts global logistics companies, large retailers, hospitals, and major international airports among its customers, including Dachser Intelligent Logistics, GXO, Nuremberg Airport, Canadian Tire, the British consumer electronics retailer Currys, and the Charité Hospital Berlin. According to Spherical Insights, the global wearable robotic exoskeleton market size is expected to reach $41.5 billion by 2033. The initiative includes the formation of a dedicated business unit, KULR AI & Robotics, aimed at driving innovation and commercialization of affordable and mature robotic solutions to support the US workforce and reshoring of manufacturing. During their EOY and Q4 earnings call, KULR also announced that their website has been updated and relaunched as to reflect this shift and the introduction of the new business unit. The new unit will be led by Josh Steinmann, VP of AI and Robotics. 'This partnership exemplifies our broader strategy to leverage our energy management expertise and become a key enabler of the robotics and AI ecosystem, as these applications demand higher battery performance and more efficient thermal management for their high-performance electronics,' said Michael Mo, CEO of KULR Technology Group. 'AI is a critical enabler of robotics, and we're aggressively focused on this area – through this partnership and other strategic initiatives – to help shape the future of human-machine interface.' 'We are pleased to have KULR as a key partner, joining us in the journey to scale and deliver the world's strongest data-driven exoskeletons to North America and beyond,' says Armin G. Schmidt, Founder and CEO of German Bionic. 'At the core of our innovation is a clear understanding of energy as a fundamental force – something unseen yet essential in driving both progress and human advancement. Our exoskeletons are designed to empower and elevate frontline workers, unlocking their full potential each day. This partnership is the natural unfolding of our mission to infuse the world with greater value, vitality, and purpose.' The sixth-generation Apogee ULTRA is a proven, in-market solution engineered for large-scale deployment. Apogee ULTRA and anticipated future generations of the exoskeleton can enhance human energy output significantly and materially reduce workplace injuries, driving outsized returns on investment, employee satisfaction and retention, and reduced healthcare costs. This technology has demonstrated success across multiple sectors, including delivery logistics, supply chain solutions, manufacturing, construction, and healthcare. Key elements of the partnership include a collaborative technology effort to further enhance the capabilities of Apogee ULTRA, the world's most powerful exoskeleton, focused on performance improvements, AI integration, and increased user adaptability. KULR will also hold exclusive marketing and distribution rights for North America, establishing the Company as the primary provider of GB's products spanning all industries. KULR's expansion into this sector aligns with US strategic priorities to expand domestic manufacturing and industry. The Company aims to become a key player in the next generation of AI-powered, human-centered robotic technologies serving delivery logistics, supply chain solutions, manufacturing, construction, and healthcare. Looking ahead, KULR plans to localize the manufacturing and assembly of future generation exoskeletons within the United States, supporting domestic supply chain resilience, reducing lead times, and enhancing scalability for widespread adoption. About KULR Technology Group Inc. KULR Technology Group Inc. (NYSE American: KULR) delivers cutting-edge energy storage solutions for space, aerospace, and defense by leveraging a foundation of in-house battery design expertise, comprehensive cell and battery testing suite, and battery fabrication and production capabilities. The Company's holistic offering allows the delivery of commercial off-the-shelf and custom next-generation energy storage systems in rapid timelines for a fraction of the cost compared to traditional programs. On December 4, 2024, KULR announced that its Board of Directors has agreed to include bitcoin as a primary asset in its treasury program and committed to allocating up to 90% of its surplus cash to the acquisition of bitcoin. For more information, please visit About German Bionic German Bionic is a global robotics firm that develops and manufactures smart power suits and other wearable technologies. It was the world's first company to deliver connected exoskeletons for the workplace, applying self-learning and artificial intelligence to support lifting movements and prevent poor posture, and thereby becoming an intelligent link between humans and machines. The German Bionic smart power suits and wearables protect the health of workers and markedly reduce the risk of accidents and injury to improve work processes. In recognition of this innovative technology, which puts people back at the center of Industry 5.0, German Bionic has received numerous awards including the CES 'Best of Innovation' Award, the Fast Company 'Innovation by Design Award', and the 'Innovation Champion' Award of the European Investment Bank. German Bionic is headquartered in Germany and the US, with offices in Berlin, Augsburg, Boston and Tokyo. For more information, visit: A photo accompanying this announcement is available at
Yahoo
02-04-2025
- Business
- Yahoo
KULR Technology Group Inc (KULR) Q4 2024 Earnings Call Highlights: Record Revenue and Strategic ...
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. Warning! GuruFocus has detected 6 Warning Signs with KULR. Release Date: March 27, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. KULR Technology Group Inc (KULR) 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. 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. Q: How prevalent do you think space travel becomes over the next 10 years, and will there be applications on Earth as well? A: Michael Mo, CEO: Space travel will become more affordable and prevalent, but the bigger market opportunity lies in privatized space exploration, such as new satellites and equipment. As volume increases, costs will decrease, leading to potential applications on Earth. Q: Are there plans to diversify crypto or buy more? A: Shawn Canter, CFO: We are focused on our Bitcoin treasury program and have no current plans to diversify into other cryptocurrencies. Q: Why is such a large portion of cash being invested into Bitcoin, and could this money be better allocated to focus on the growth of the KULR brand? A: Shawn Canter, CFO: Our strategy is to retain liquidity and significant cash reserves while building our Bitcoin treasury. We view Bitcoin as a good store of value and a positive for shareholders. We are also investing in our company, people, facilities, and product development. Q: What is the current status of your Guardian One contract with the Army? A: Michael Mo, CEO: We are conducting more testing and self-screening with the Army and targeting prototype production in the fall of 2025. Q: How much revenue in Q4 came from licensing deals? A: Shawn Canter, CFO: In Q4 2024, KULR generated $1.7 million in revenue from licensing, and for the full year, $2.7 million. Q: What opportunities exist for KULR to integrate its patented thermal runway shield in aircraft, given partnerships with Molicel? A: Michael Mo, CEO: We have a close relationship with Molicel and are building our KULR One Air reference platform for electric aviation and drone markets. The thermal runway shield will play an integral role in these developments. Q: Has KULR considered pursuing a service contract with the US military for service technicians on airbases? A: Michael Mo, CEO: It's a great idea, but such contracts depend on the US military's interest. We haven't received any indication of such an arrangement being welcomed at this moment. Q: What are KULR's plans for its California operations after the lease extension ends in 2025? A: Shawn Canter, CFO: Our California activities remain important. Whether we stay in the current facility or move will be based on the long-term best interests of KULR, its customers, and shareholders. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
27-03-2025
- Business
- Yahoo
KULR Technology Buys Another 56 Bitcoin for $5M, Takes Holdings to 668 BTC
KULR (KULR) a leader in advanced energy management has acquired an additional $5 million worth of bitcoin (BTC). The latest purchase was made at an average price of $88,824 per bitcoin, increasing the company's total holdings to 668.3 BTC, per the announcement from CEO Michael Mo. This move is in line with KULR's bitcoin treasury strategy, first announced in December, which allows for up to 90% of its surplus cash reserves to be held in bitcoin. The company stack was purchased for about $65 million, or an average price of $97,305 per token. It's worth just above $58 million at bitcoin's current price in the $87,000 area. Year to date, KULR has achieved a bitcoin yield of 181.1%, according to Mo, utilizing a mix of cash and its at-the-market (ATM) equity program to fund acquisitions. The bitcoin yield is a key performance indicator (KPI) for the company, calculated by assessing the percentage change period over period in the ratio of bitcoin holdings to KULR's assumed fully diluted shares outstanding. This metric reflects the company's efficiency in increasing BTC exposure relative to shareholder dilution. KULR stock is trading 3.5% higher in the pre-market session. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
