Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
Please consider a small donation if you think this website provides you with relevant information
| Statement |
|---|
| By reducing the vibration up to 90% KULR VIBE significantly improves data quality and visual clarity for LiDAR in high resolution optical cameras |
| And so, I think we have pretty good brand awareness there now |
| We expect strong growth in our service contract revenue to be an early indication of our overall revenue growth potential, which will be driven largely by product sales rep |
| Our KULR One platform continue to see strong growth in design services and product sales in energy storage, space, battery recycling and electric transportation markets |
| In addition, our proprietary thermal management products for the aerospace and defense markets are contributing to the acceleration of our growth into 2024 |
| Our revenue per employee in the quarter was approximately $43,000, which is up 14% from the second quarter and 70% from the first quarter of this year, indicating increasing human capital productivity |
| Based on continued record quarterly growth and the broadening and deepening of our customer engagement across multiple market verticals, our sales funnel shows that our current 2024 revenue potential to be between $26 and $34 million |
| Q3 growth is largely viewed by our KULR One platform, which is well-positioned to serve multiple fast growing, multibillion dollar markets for safety, performance and sustainability is of the utmost importance |
| I am pleased report that we achieved another record revenue quarter in Q3 of 2023 |
| So this is a great synergistic opportunity for us |
| I think that in addition to that, as we are growing and gaining scale, I think we'll be able to continue to improve our margins, and you'll see those hopefully continue to improve as we move forward |
| And the reason we're able to do that is we're starting to get very good brand recognition out in the industry |
| So marketing is an area that we've been able to really reduce costs |
| KULR posted another record quarter, the second in a row, adding to the record setting revenue of the second quarter |
| And so what we see there is we're able to get much more efficient with those R&D dollars, because from one battery pack to the next battery pack we're starting to get into situations where it's almost a replication of previous work done, so that improves the efficiency |
| We expect this partnership to be well-positioned to participate in U.S |
| While our overall revenue grew approximately 120% year-over-year to over $3 million, our service contract revenue grew over 4800% year-over-year |
| For the nine months ending Q3, our revenue per paying customer was over $200,000, up approximately 170% with the number of paying customers growing to 37% up 28% from the same nine month period last year |
| electric truck market is expected to grow at a 54% CAGR to reach over $15 billion by 2030 |
| And it's worth noting, again, we grew both revenue up about 245% and paying customers up about 28% |
| And then on the R&D side of the business, we're getting great leverage from the last two and a half years of investment that we've made in the KULR One platform |
| In fact, just this week, we had a very positive meeting to display the KULR VIBE capabilities for drone OEM |
| And I guess this is evidenced by the growth trends that we've put up and people that we've noted earlier, and our continued efforts as we've previously talked about to optimize our cost structure |
| So once we can prove out the lithium-ion battery that we produce to them is safe and meet their energy needs, we believe the opportunity opens up from the current approximately about a $100 million opportunity for these applications to a much, much larger opportunity across the army platform |
| Very good |
| And we've added capabilities to further improve our time to market |
| And this allows for a real-time algorithm adjustments to be made that further refine our ability to provide the optimal solution to achieve incredible track and balance results |
| So between our cash, our receivables, to current visibility in terms of what the pipeline looks like, our various partnerships and initiatives we feel like we have - we're in a good position to continue to finance the growth of the business and we'll continue to use the cash flow generated internally and to the extent that external financing is appropriate |
| And I guess we - I think we have a good line of sight to having operational breakeven in - we think potentially in the second quarter of next year obviously we'll have to meet certain milestones, which we can't guarantee we will, but we think that they're very much possible based on what we see today and the red revenue visibility, the pipeline, the various customer partnerships we have and certain initiatives that are that are in place |
| The global battery recycling markets project to grow to $54 billion by 2030 |
| Statement |
|---|
| So I was just saying, you touched on this earlier on cash consumption coming down a bit year-over-year without sacrificing revenue growth, obviously |
| Army is very interested in increasing the power and energy density of the lithium-ion battery, but the lithium-ion battery safety is a top concern |
| Jake Sekelsky And then Shawn, I think you touched on this a bit, but it looks like cash consumption has come down quite a bit year-over-year, while you were still able to continue to grow revenue |
| What we don't want to do is we don't want to sacrifice growth |
| We believe we've already increased - keeping increased customer revenue, diversity, and you can see that in our numbers, a period, for example, ending September 30, revenue from customers representing more than 10% of the total revenue for the period went down from 81% to 69%, indicating increased diversity |
| The company's actual results may differ materially from those stated or implied in such forward looking statements due to risks and uncertainties associated with the company's business, which include the risk factors disclosed in their form 10-K filed with the Securities Exchange Commission on March 28, 2023 |
| Turning to capital allocation, we want to highlight that for the first nine months of 2023 versus 2022, our cash used from operations is down approximately 20% and our cash used from operations and investing combined is down approximately 26% all while increasing revenue by about 245% or almost 3.5 times |
| Can you first talk a little bit about the R&D pipeline, if customer opportunities there, if it's anything different than what we have in contract services? And then on the SG&A, decline down to 4.8 from 5.6 last quarter |
| If you know what I mean, we're really not having to beat the doors down of other OEMs, they're coming to us proactively |
| And Howard's final question is how is the company attempting to drive brand awareness of their thermal runway shield offering in order to prevent tragedies such as a fire that killed three generations of New York City family |
Please consider a small donation if you think this website provides you with relevant information