Kelso Technologies : 2025-Q1 Financial Report

About this update from Kelso Technologies Inc.

[{"type":"text","content":"\n \n \n KELSO TECHNOLOGIES INC.\n \n \n \n QUARTERLY REPORT\n \n \n \n For the Three Months Ended\n \n \n \n March 31, 2025\n \n \n \n (Expressed in US Dollars unless otherwise indicated)\n \n \n \n KELSO TECHNOLOGIES INC. MANAGEMENT DISCUSSION & ANALYSIS THREE MONTHS ENDED\n \n \n March 31, 2025\n \n \n \n (Expressed in US Dollars unless otherwise indicated)\n \n \n \n MANAGEMENT DISCUSSION AND ANALYSIS\n \n \n HIGHLIGHTS:\n \n \n Kelso Technologies Inc. reports the Company's first profitable quarter since Q1-2020.\n \n \n The Company reported Q1-2025 net income of $412,337 or $0.01 per share. Excluding discontinued operations, the Company reported net income of $504,982.\n \n \n For Q1-2025, gross revenue increased by 19.06% YoY to $3.16 million compared to $2.70 million in Q1-2024. Kelso increased its gross profit to 44.6% up from 41.8% in Q1-2024, primarily due to the sales mix and ongoing expense optimization strategies.\n \n \n The first quarter of 2025 brought both challenges and opportunities for the Company. Despite uncertainties surrounding international trade and tariffs affecting the demand for tank cars, the Company remains optimistic and dedicated to achieving sustainable revenue growth. While there are still hurdles to overcome, the Company's commitment to strategic planning and innovation positions it well to navigate these complexities and capitalize on emerging opportunities\n \n \n For FY2025, the company continues to believe that sales growth will be flat to slightly positive, ranging from 0% to 5%, compared to fiscal year 2024. The primary objective in 2025 will be to uphold cost discipline as the company prepares for the expected increase in new tank car builds commencing in 2026/2027. This strategy is designed to position the company to capitalize on the anticipated demand and enhance profitability.\n \n \n Announcing the retirement of Anthony \"Tony\" Andrukaitis as Director effective June 3, 2025 and as Chief Operating Officer June 30, 2025.\n \n \n Executive Vice President of Operations Amanda Smith will succeed Tony as COO effective July 1, 2025. The EVP position will be eliminated as part of management's ongoing cost reduction strategy.\n \n \n The Corporate Governance and Nominating Committee appoints Mark Temen of Phoenix, AZ to the Board of Directors, effective April 16, 2025.\n \n \n GENERAL\...

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