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Kelso Technologies Inc. reports its audited financial statements for the year ended December 31, 2023, showing revenues of $10.8 million and a net loss of $2.1 million. The company's working capital decreased to $5 million, and total assets dropped to $9.7 million. Kelso aims to secure full AAR approvals for its rail products in 2024 to enhance financial performance.
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Kelso Technologies Inc. announces voluntary delisting of common shares from NYSE American while continuing to trade on TSX due to non-compliance with listing standards. The company chose to delist to avoid costs and administrative burdens, deciding against a reverse split. Kelso does not plan to list on another U.S. exchange.
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Kelso Technologies Inc. reports that its subsidiary KIQ X Industries is establishing a Phase-One production facility to convert heavy-duty vehicles with its proprietary Automated Traction Optimization Method. The facility is designed to facilitate approximately $25 million of annual revenue, with potential to scale to over $100 million per year. The Company aims to deliver safety enhancing technology solutions for various industries, including wilderness fire fighting, mobile medical treatment, mining, energy transmission, and more.
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Kelso Technologies Inc. (KLS, KIQ) received a notification letter from the NYSE American stating that the Company is not in compliance with the continued listing standards due to low share prices. The Company must effect a reverse stock split or demonstrate sustained price improvement by June 12, 2024, to avoid accelerated delisting action.
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Kelso Technologies Inc. (TSX: KLS) (NYSE American: KIQ) reports unaudited financial statements for the nine months ended September 30, 2023. Revenues decreased to $7.75 million from $8.54 million in 2022. Gross profit margin was 43%. Net loss was $1.94 million. Liquidity decreased to $5.56 million from $7 million in December 2022. The company faces challenges due to economic conditions, but is focusing on new rail products and ADAS for automotive markets.
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Kelso Technologies files first patent application for Automated Traction Optimization Method for Vehicle Suspension Systems, signaling a new technology evolution. Method aims to provide novel traction capabilities, diminish wheel slip, and improve ride quality in wilderness environments. Expected to positively impact transportation safety and revenue growth in under serviced wilderness market segments.
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Kelso Technologies Inc. has released its unaudited consolidated interim financial statements for the six months ended June 30, 2023. Revenues for the period were $4.6 million, a decrease from $5.8 million in the previous year. Gross profit margin declined to 41% from 46%. The company reported a net loss of $1.8 million, compared to a net loss of $573,579 in the same period last year. The company's working capital position as of June 30, 2023, was $5.4 million.
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Kelso Technologies Inc.
NYSE:KIQ
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About KIQ
kelso technologies is a leading innovator in the railway equipment supply industry. our company, which is engaged in the design, engineering, sales, production and distribution of patented technologies, addresses the challenging issues involved in the safe transportation of railed and trucked commodities. our products are specifically designed to provide reliability and performance while minimizing the potential effects of human error whenever possible. a series of external pressure relief valves, a revolutionary new manway system, eduction tubes and pd hopper components are just a few of the offerings available from kelso. in addition, we are in the process of developing new and innovative products to our folio including, but not limited to, a bottom outlet and vacuum relief valve for general purpose cars.