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Kelso Technologies Inc. (KIQ) generates a steady stream of news centered on its activities as a transportation equipment and product engineering company. Its disclosures focus on proprietary rail tank car valves and related rail products, as well as an automotive division that has developed an automated suspension‑based Advanced Driver Assistance System for commercial mission‑critical wilderness operations. News items often explain how these products are intended to support safe handling and containment of commodities during transport and to mitigate risks linked to human and technology error.
Investors and industry followers reviewing Kelso‑related news can expect regular updates on financial performance prepared under IFRS, including quarterly results, profitability trends, cost management efforts and liquidity developments. The company’s releases also discuss strategic priorities such as operational efficiency, overhead reduction and the pursuit of Association of American Railroads (AAR) approvals for components like its Bottom Outlet Valve (BOV), Angle Valve (AV) and pressure car package.
Corporate governance and leadership changes are another recurring theme in Kelso’s news flow. Recent announcements have covered the appointment of an interim and then permanent Chief Executive Officer, changes in the Chief Financial Officer and Chief Operating Officer roles, and the addition or retirement of directors with rail and finance experience. Shareholder meeting results, including director elections and auditor appointments, are also reported.
By following Kelso Technologies news, readers can track how the company describes its progress on regulatory approvals for rail products, its automotive initiatives, and its efforts to align operations with market conditions in the rail and transportation sectors. This page brings together those updates so that investors, analysts and industry participants can review Kelso’s publicly reported developments in one place.
Kelso Technologies Inc. (TSX: KLS) announced key changes to its Board of Directors. Lead Director Paul Cass will retire on August 31, 2025, after serving approximately ten years in various capacities including Chair of the Audit Committee and Compensation Committee. Independent Director Jesse Crews will assume the role of Lead Director starting September 1st, 2025.
The company has appointed CFO Sameer Uplenchwar to fill the vacant board seat. Paul Cass's tenure was marked by his manufacturing expertise from previous executive roles at WhiteWater West Industries and Ballard Power Systems. Jesse Crews brings significant rail industry experience as former CEO of GATX Capital and CIO of Trinity Rail Leasing Corporation.
Kelso Technologies (TSX:KLS) reported its Q2-2025 financial results, marking its second consecutive profitable quarter with net income of $72,175 ($0.00 per share). Q2-2025 revenue decreased 8.6% YoY to $2.64 million, primarily due to customer caution following new tariffs in April and May.
The company demonstrated strong cost management, reducing total expenses by 30% ($580,303) year-over-year in H1 2025. Despite revenue challenges, Kelso maintained profitability and improved its financial position, with working capital increasing to $2.68 million as of June 30, 2025.
Looking ahead, Kelso projects flat to slightly positive sales growth (0-5%) for FY2025, with tank car builds expected to decline in 2026 before rebounding to 13,000 units in 2027. The company is pursuing AAR approvals for its Bottom Outlet Valve and Angle Valve products to expand revenue opportunities.
Kelso Technologies reports its first profitable quarter since Q1-2020, with Q1-2025 net income of $412,337 ($0.01 per share). The company's revenue increased 19.06% year-over-year to $3.16 million, with improved gross profit margins of 44.6%.
Key financial highlights include:
- Working capital: $2.57 million
- Cash position: $417,188
- Total assets: $6.88 million
Management expects flat to 5% sales growth for FY2025. The company is preparing for increased tank car builds in 2026/2027, with industry forecasts predicting growth to 13,000 units by 2027. Leadership changes include COO Tony Andrukaitis's retirement and Amanda Smith's promotion to COO effective July 2025.
Kelso maintains a strong position with no long-term interest-bearing debt and is pursuing AAR approvals for its Bottom Outlet Valve and Angle Valve products.
Kelso Technologies (TSX: KLS) announced key leadership changes, with COO Anthony Andrukaitis retiring from the Board of Directors on June 3rd, 2025, and from his COO position on June 30th, 2025. Executive Vice President Amanda Smith will take over as COO starting July 1, 2025. The company is also welcoming Mark Temen as the sixth board member.
Andrukaitis, who has served since October 2011, was instrumental in building the Bonham team and mentoring Smith. He oversaw the Bonham, Texas facilities operations and the company's rail product line development. His retirement was previously delayed due to COVID-19 pandemic challenges.
As part of operational streamlining, the Executive Vice President of Operations position will be eliminated. The transition is expected to be seamless, with Smith fully assuming COO responsibilities in July 2025.
Kelso Technologies (TSX: KLS) has announced its 2025 outlook and strategic initiatives, projecting flat to modest sales growth of 0-5% compared to FY2024's expected revenue of $10.7 million. The company anticipates a significant loss in FY2024 due to one-time expenses and write-offs.
Key strategic initiatives include pursuing AAR approval for its Bottom Outlet Valve and Angle Valve products, which are in service trial periods. The tank car market shows signs of improvement, with deliveries reaching 10,000 cars in 2024 and projected at 10,325 in 2025, representing a 15.8% increase over the 2021-2023 average.
The company has implemented cost-cutting measures and secured a $250,000 line of credit from Texas Capital Bank. Management expects market recovery post-2025, with industry projections indicating growth to 13,000 units by 2027.
Kelso Technologies (TSX:KLS) has announced the appointment of Frank Busch as permanent Chief Executive Officer, following his successful tenure as interim CEO since July 2024. The Board of Directors unanimously approved this appointment, with Lead Independent Director Paul Cass expressing confidence in Busch's leadership capabilities.
Busch, who has accepted the position, stated his commitment to executing the company's strategic plan and achieving growth objectives while managing resources effectively. The company plans to present its FY2025 outlook in the upcoming weeks.
Kelso Technologies Inc. (TSX: KLS) released its Q3 2024 financial results, reporting a 20% decrease in revenue to $2.52 million compared to Q3 2023. The company faced challenging market conditions in tank car demand, resulting in a net loss of $361,800. However, this represents an improvement from Q2 2024's net loss of $544,927, attributed to new management's expense reduction strategies.
Despite challenges, Kelso maintained an above-industry-average gross profit margin of 44%. The company appointed Frank Busch as interim CEO, Sameer Uplenchwar as CFO, and Maureen O'Hanley Doucette as Corporate Secretary. Kelso's US subsidiary secured a $500,000 line of credit from Texas Capital Bank after the quarter-end.
The company remains focused on cost control and aligning operations with reduced revenue. Kelso is also conducting a strategic review of its KXI HD system to maximize shareholder value and is nearing completion of AAR approvals for its rail pressure car products, expected to drive new sales growth in 2025.
Kelso Technologies announced the retirement of CEO and President, James R. Bond, effective July 9, 2024. Bond also retired from his role as a director. Frank Busch, a director since February 2020 and Chair of the Audit and Finance Committee, was appointed interim CEO. Busch, who has extensive experience in finance and leadership, aims to ensure a smooth transition and plans to engage with stakeholders to review the company's market outlook and strategic planning.
Mr. Bond has been recognized for his years of service, and Mr. Busch expressed his commitment to maintaining operational continuity while taking on new challenges in his interim role.
Kelso Technologies announced the results of its 2024 Annual General and Special Meeting held on June 6, 2024. A total of 26,741,861 common shares were voted, which is 49.12% of the outstanding shares. Six directors were elected, but James R. Bond received less than majority support and has tendered his resignation. The reappointment of Smythe, LLP as auditors was approved with 89.30% votes in favor. However, all equity incentive plans, including the omnibus equity incentive plan and stock options, were not approved with over 74% votes against. New officer appointments were also confirmed.