Kelso Technologies Inc. Stock Price, News & Analysis

Kelso Technologies (NYSE American: KIQ) reported its unaudited interim financial results for the six months ending June 30, 2022. Total revenues increased to $5,833,347, up from $3,335,838 in 2021, while gross profit rose to $2,701,955 with a gross margin of 46% compared to 42% last year. The adjusted EBITDA loss decreased to $283,486 from $908,621. The company maintains a working capital of $8,219,641 and continues to focus on R&D for new product development amidst a growing rail tank car market.

Kelso Technologies Inc. (KIQ) held its Annual General Meeting on June 2, 2022, with 35.69% of shares voted. The following nominees were elected as directors: James R. Bond (59.83% for), Peter Hughes (57.87% for), Anthony Andrukaitis (59.88% for), Paul Cass (83.37% for), Laura Roach (59.95% for), Jesse V. Crews (61.19% for), and Frank Busch (60.55% for). Additionally, Smythe, LLP was reappointed as auditors with 91.56% approval. Key officers appointed include James R. Bond as CEO, Richard Lee as CFO, and Anthony Andrukaitis as COO.

Kelso Technologies Inc. (KIQ) reported its unaudited financial results for Q1 2022, showing a significant increase in revenues of $2,963,851, up from $1,220,487 in Q1 2021. The gross profit rose to $1,428,394, marking a gross profit margin of 48%. However, an adjusted EBITDA loss of $207,880 was recorded. Cash on hand stood at $2,782,758, with working capital increasing to $8,845,629. Management is optimistic about growth prospects in the rail tank car market, expecting demand to reach 10,000 new tank cars in 2022, supported by ongoing R&D in both rail and automotive sectors.

Kelso Technologies reported its audited financial results for the year ended December 31, 2021, revealing revenues of $7.43 million, down from $11.15 million in 2020. Gross profit decreased to $3.20 million, representing a 43% margin, consistent with 2020. The company reported a net loss of $2.76 million compared to a $1.31 million loss the previous year. As of year-end, cash holdings improved to $3.38 million, contributing to a working capital increase to $8.67 million. The outlook indicates cautious optimism for recovery driven by increasing tank car demands and new product developments.

Kelso Technologies (NYSE American: KIQ) announced successful installation of its K2AV angle valve by oil refiners participating in service trials. With around 85,000 pressure tank cars in the market, each using three K2AV units, Kelso aims to generate multi-million dollar revenues. The K2AV, made from high-quality steel, addresses customer demand for more reliable valves. CEO James R. Bond expressed optimism about production readiness pending final AAR approvals. The K2AV complements Kelso's Pressure Car Kit, streamlining pressure car sourcing.

Kelso Technologies (KIQ) has announced significant progress in its KXI™ Wildertec™ Heavy Duty Suspension project through its subsidiary, KIQ X Industries. The company has secured partnerships with Vector Truck Designs and Kinetic Drive Solutions to develop a regulatory-compliant prototype. Vector will manage mechanical components, while KDS will create an integrated suspension control system. The completed prototype is anticipated by Q2 2022, aiming to meet market needs for efficient wilderness transportation. Despite supply chain challenges, these collaborations signal a strong commitment to innovation and safety in the automotive sector.

Kelso Technologies Inc. (NYSE American: KIQ) reported its financial results for the nine months ending September 30, 2021. The Company generated revenues of $5.43 million, a decline from $9.75 million in the same period in 2020. Gross profit was $2.25 million with a gross profit margin of 41%, down from 44% in 2020. Adjusted EBITDA showed a loss of $1.20 million. However, working capital improved to $9.14 million due to a successful equity placement of 7 million units in March 2021. The Company anticipates a gradual recovery in business volumes in 2022, driven by new product offerings and anticipated growth in the tank car market.

Kelso Technologies (NYSE MKT: KIQ) announced the final certification of its pressure relief valve (PCH) by the Association of American Railroads (AAR), following extensive field trials. The PCH is designed for rail pressure cars, part of a market with over 85,000 pressure cars in North America. This certification opens doors for significant revenue opportunities. Key advantages of the PCH include its patented design, quick delivery, and enhanced reliability. Kelso aims to expand its market presence with this product and related offerings, targeting new revenue streams.

Kelso Technologies (KIQ) announced the successful completion of the design, engineering, and regulatory testing of two essential truck tanker equipment components: a pressure/vacuum relief valve (PVR) and a one-bolt manway (OBM). These products comply with DOT regulations and are aimed at enhancing safety and efficiency in commodity transport. The OBM and PVR are expected to create multi-million-dollar revenue opportunities and are now ready for full market distribution, with marketing initiatives already in progress.