KULR - Earnings call transcript Q2 2021 | KULR Technology Group, Inc.

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Operator

Greetings, and welcome to KULR Technology Group's Q2 2021 Investor Call. [Operator Instructions].

As a reminder, this conference is being recorded. This shareholder update call does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This shareholder update call contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties.

shareholder as are of the available on in us to the statements update based call information Forward-looking date hereof.

may forward-looking Exchange March risks Form XX-K results implied Commission the risk our on actual differ with in those include from Our our disclosed stated business, in which such uncertainties the statements XX, and to filed XXXX. factors due associated with materially or Securities and

or be and over the similar information this identified regarding available are statements time. and expects expectations, intentions by on release future our time, as and this management projections and regarding management believe, words. intend, in can All forecasts forward-looking Forward-looking estimate, at statements include anticipate, that based change by or and beliefs, may such would are words expect, internal strategies provided expectations could, may, should

are and best host, performance the of In call, over in on Group. to information would new update with given addition, about assume update services. no current obligation We of financial opportunities contracts, our entirely the current as backlog turn a our products existing like our new conversations future the and Michael Mo, I Co-Founder forecasts shareholder information, and of future KULR to management's otherwise. the of result customers your events and included to CEO or now whether conference estimate Technology

Michael Mo

to Group. update This Joe. time investor Thanks Technology you, is to Thank everybody's KULR join the Michael I'm QX of today Mo. call. XXXX our CEO

sustain President operational talk Westbrook equity and and over then over provide balance conclude New then talk and For to our today's XXXX. to areas will developments, investments year-over-year XXXX business for in company beyond. June which on our Q&A QX XXX% in updates We significant growth about revenue broader we institutional I highlights facilitate and on and some by sheet all as American in has much our about Stock operational the on increased financial have pool Trading the a And session our continue Cochran, capital we make provide visibility will and recent we our KULR's and XX, expand our more of today. QX million Exchange the to updates. York Exchange will call -- to then QX York May uplisting $X.X helped the raised then raised provides COO, and a first retail will Simon liquidity. to of call, Keith X. increase the to on strengthened investors New highlights

$X.X of allow which to addition, in capacity the strongest position special X.X for batteries, close permits working cash technologies stocks its to Transportation exercise million energy an with also alongside X.X battery shares of of competition. warrants KULR the compared we kilowatt million energy our and strategy regulatory to to materialized X common cutting-edge for of purchase and Energy warrants into These In With collaboration Department and meaningful this in retains encouraging X in common in prototype capacity, DoD stocks damaged, incorporate quarter, key $XX organizations. in and in co-develop intent markets: testing transportation to applications. also market energy at over and results storage received approximately X allow been of the U.S. has while agencies our product received safe Department U.S. the total of NASA, and hour in end July. million history. recycled from shares management respectively. of transportation technologies financial lithium-ion June, thermal permits million is exercise defective our from and million international of upside $X.X is And to in second U.S. long-term in potentials purchase a approximately And these aggregate market with of We market. inception, the QX of recalled into special to Xx the the mass strategy up initial Since

developments business. accelerate architecture, battery we our continue As platforms, also and our testing grow the screening to in investments aerospace in and new cell fast-charging in and technology smart automation battery battery we sales defense

we Our battery business in model transportation continue for our and on opportunities technology energy near-term markets. the to focus evolve as storage commercialization

economy. efficient circular battery migration systems, making the total global management, sustainability more increase to goal end-of-life the provider safety solutions Our KULR key is battery in and battery provide solutions to for technology

XX the nearly and retired for Stayce During Relief. General, Inspector to a as before the our our of Boeing Board XX,XXX General United to X-star is the served as Harris the is She General, of of as the The a our and served she's Chairperson also Director And was for new of Director a Independent she Harris, Force. over for a Compensation independent served honored KULR's States pilot we're Force Airlines Fixed-Income member an pilot General also also BlackRock second add Lieutenant and retired as at Committee, the the United very Air the experienced Funds flight Director years Lieutenant and Company. of as Reserve quarter, Trustee retirement. Directors Miss Direct hours Stayce Air with Mutual Board.

provide our will highlights. operational Cochran QX Keith updates Keith? Next, on

Terry Cochran

thanks, some for and provide highlights. your Thanks, operational time today. I Michael, now everyone, will

XXX% will specifications. battery flow screening design visually and stated our During ensure cell battery proprietary the to process cell each their and QX, inspect they has The of KULR line line. completed serialize, cell test automated meet of that

Our new customers to cells anticipate in operation cylindrical X reserve this Defense critical automation capable our and battery company XXXXX be We system The aerospace test facility in half of processing Diego. cells. to our initiatives. to initial first of XXXX world-class per year during and to XXXXX in million equipment for X.X battery of up has strategic the be San their and full KULR the partners. with sourced be Department anticipates launch serve development with will system

the cells. software the long-term software and battery hardware vision We previously both system, platforms control a services better manage company integrating with developing hardware provide As shared, smart of software is to data KULR's to includes completely battery integrated and will over to stability. platform a intelligence. health believe and which is battery hardware enable monitor and thermal safety

expects the large-volume as charging pack charging products sales joins he thicker manufacturing served battery leadership battery new cathode service with KULR added enable worldwide and anode since Vice and and Martinez. system and first at is sales channel we at side He our Also show systems. was and Also test Antonio and Arrow on President worldwide this September KULR electronic role join most of currently of that. XX killer into preliminary the in joins and the XX, is over energy Principal strategic it carbon KULR process. company's years experience operations. developing and Provenzano execution years architecture quarter, growth advanced hope Manager most of during June believes At The in XXXX, the developing in and KULR to the Greg Day. company of Energy. variety electronics supporting crucial cells. components, Our delivered design our Electronics Vice join industry fiber-based of in leadership manufacturing and a goals. industries, Operations a play and app with recently in Antonio applications Electronics faster Corporation of as strategy of a a battery pivots with personnel for XX will and KULR, validation Marketing. test a Greg certainly spent Solutions will his the results at solutions KULR XXXX, Advanced over as to On of battery in cells, of in experience fast for most quarter, safer services notably everybody materials Sales Jabil us are career of Battery company We manufacturing Pulse electronics XXXX. Program across President

highlights. provide Westbrook QX financial will Simon Next,

Simon Westbrook

Thanks, Keith.

plan, successful staff, New fundraising and including Stock expenses foundations automated as the York in management, for company investor the engineering test expansion additional equipment, hiring relations as is well our new building senior and facilities, production advertising Exchange and a the and activities. uplisting expanded Following business marketing XXXX,

increase KULR mainly this to pave and due to The due to believes longer-term and compensation consulting $X.X in stock-based admin quarter On period generated this we second and improved expenses marketing last revenues, $X.X XX, Selling short-term increase was profitability, advertising fees was last paid products quarter the million ended same in will June growth and to the year. shareholder recent million over in to which investment XXXX, in and XXX% the KULR reported services. in increase increased revenue way sales compared for an million from corresponding value. and The over year. as impacts was the employees the While increased period sales expenses of of general SG&A to XXX% $X.X the opposed expenses, in additional of consultants. noncash revenue

over year. R&D, $X.X loss with payroll of last operations, first combination year. process the a same research of expenses compared this to despite XX, and $X.X a fund difficult $X projects. recent us through period and of increased million experienced in year. compensation the to ongoing last and Overall, from in year. the $XXX,XXX to implemented $XX.X The for new For product quarter improvements for by well net recent quarters. December the loss this million in million -- the positioned reflected million COVID-inspired XXX% funding leaves in period quarter support trading stock-based expense, the of in year June net marketing increase operating $X this $XXX,XXX to compared our The fees reported professional developments the cash XX same quarter million company million in conditions quarter On preceding $XXX,XXX expense, other the operations advertising noncash our to expenses quarter expand and of increased in year, $XX,XXX second in with loss $X.X at increase XXXX. of compared the business costs X.X This and compared a the included in was This million increase development balances and comparable $X.X increase headcount loss for

Now I'll Q&A. the return to to Joe up open

Operator

Instructions]. [Operator

Our first question.

or cash will raise or current need your additional fund can near-term you plans position, the offerings partnerships? you With capital through upcoming to

Terry Cochran

This discussing Cochran. position, cash is take shareholders. go today ahead fully product our Keith I'll plans that. that With with Joe, execute and we're business current our funded development and to our Yes. we're

Operator

recycling Can walk through the of question. life? everyday next how Our your you business and us arm impacts that

Michael Mo

is capability energy recycling John I'll that batteries, DDR DoT accommodate battery the and recently Mo. up special expanding the Joe, working I will Yes, to to to recycling X.X our that. working hours. battery power prototype and battery with role take important for We're now We play a also permit safety Yes, received companies, -- their battery case in battery Michael very solution This ecosystem. sorry. We're even believe customize kilowatt their recycling e-mobility needs. OEMs larger on packs. for to recycling,

remember permits Just just these that special in we received QX.

them has get and facto these for them work engaged, to started standards industry. on customer real board safety the to de Now get the solutions the make

work and a so And lot we're ahead, looking there's really that. of forward to

Operator

in EV problems And your What follow-up. line, address? what you products down space to question. the a next years currently XX solve? problems X do would the battery like to Our

Michael Mo

is this Joe, Michael Yes, Mo again.

our and key data. building with batteries, issues. systems that carbon address thermal the safer and next-generation developing issues of the the stability portfolio the new into manage suite eventually, resolve material. to safety X and XX and industry to technology we need that's actively the services We're in We're believe a batteries to and get faster for And monitor to the that software we and material products is years. are technology as fiber these that charge these over addressing next its we're battery, problems platforms hardware Our will with

Our position our the therefore, as goal provider and is the leading in shareholder process. to maximize KULR return industry solutions the in

Operator

materials price margins? our next will question. the their of profit affect And How

Terry Cochran

much like one. price in Well, and this else. transportation certainly are costs take I'll everybody Michael, pretty materials some seeing we Yes. increases

seeing longer and on we some equipment components. Additionally, lead also are certain times

should impact have it's become but pricing these our our minimal on impacts very We're the factors to significant in like any However, not, I business, material. way. said, able adjust

negligible So it will we the least think future. foreseeable be for at

Operator

are using to with provider Are in you teams? on work the next partnership question. Or with exclusive Autosport your racing Our Andretti other you an space? planning

Michael Mo

great. technology been that so our with Technologies, great products industry. them Andretti in a far. Yes. partnership for has We're partner with a the partnership stage develop lot They've early of been to killer of us our

the realize to lot a do both us there's to So of our fully synergy of for partnership.

So stages us. for that's early

Operator

it's NASA. question. that a safety use the for entailed And day Can explain for was creating in post about and guide There if our next you a what other today? still

Terry Cochran

would they battery Not post really closely be I'm But referring really technologies. to. sure safety not would NASA question that information to. and work into yes, and referring they suggest those independently, cell I more which on what if like they that. and it We our clear Investor group, down back with some write track give do were we'll testing -- on ask could their would to Relations maybe that

Operator

question. KULR our available And directly next be Will ever to products consumers?

Terry Cochran

Provenzano of our directly consumption. past out so. channels channels. hope pack, this that market opportunity to in battery products there of we we sales market Greg online to With this our direct will And anticipation customers will Well, we delivering or safe be in build and smart certainly quarter mass product support have think hired an that, to through

So the in answer to consumers we're setting the systems is of deliver to half first place short XXXX. in

Operator

last our handful A question. the is doing Internet. with What of And KULR on orders you the of Molicel? two are between purchase

Michael Mo

we ISC produce cells. to trigger with have of been Yes, a Yes. cell makers number working

they've So and some were one to online post referring with defense and the be that contracts I of government we been cell working think customers. that Energy battery battery serve involved They're the the makers aerospace partner. may our Moli of a to and great question cells,

Operator

management There questions time. call Michael like I at closing back for the to any remarks. to are no this further and would turn

Michael Mo

Thank Joe. you for great, that. Well,

the building revolution. KULR, products total provide management at thermal and suite for a safety. and we're is a of block this critical technology We diligently a for battery we believe whole to be so services And to solution electrification going building

enjoy regulations sustainable And a believe more circular multiple life shift solutions initiatives. we and with streams to we clean the of to product industries scalable and lines investment the well As positioned we battery the are energy to serve tailwind circuit for recycling model economy, attractive the and of ESG revenue demand economy. business have cycle for

customers X patent strong partners government, We and have and portfolio. in sectors. Tier and commercial very we have growing based aerospace, And a defense

is And management the billion-dollar critical last very shareholder Our experienced markets. for platform least, space-proven battery safety the value. technology growth is play company of growth not dedicated multiple team increased long-term a for our and

on with Battery on like thank will for much. everybody Thank we you September you us, see XXXX. XX, to time so I'd and So all spending Solutions Day

Operator

conference. today's concludes This

day. You and your may your lines time. disconnect this Thank very you at much for participation, have a great

KULR Technology (KULR) 25 Aug 212021 Q2 Earnings call transcript