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Technology
Kelso Technologies Inc. (TSX: KLS) Reports Higher Gross Profit Amid Declining Revenue in FY24
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Highlights
Kelso Technologies Inc. (TSX: KLS) has released its audited consolidated financial statements and Management Discussion and Analysis (MD&A) for the year ended December 31, 2024.
For the fiscal year 2024, Kelso reported a modest 2% decrease in revenue, totaling USD10.68 million compared to USD10.82 million in the previous year. Despite this decline, the company successfully increased its gross profit to USD4.69 million from USD4.58 million in FY2023. This improvement in gross profit was largely attributed to Kelso’s ability to maintain production efficiency and implement effective expense reduction strategies, leading to a gross profit margin of 44%, which exceeds industry averages.
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