07:09 AM EDT, 03/26/2025 (MT Newswires) -- Kelso Technologies ( KIQSF ) overnight Tuesday said its 2024 net loss more than doubled due to one-time expenses and write-offs associated with discontinuing its KXI operations.

The net loss jumped to $4.6 million, or $0.04 per share, from $2.1 million, or $nil per share, in 2023. The increased was due to write-offs associated with the KXI HD system, the company said.

Revenue decreased by 2% to $10.7 million.

Kelso expects sales growth for 2025 to be flat or slightly positive, ranging from 0% to 5%. The company will also look to cut expenses associated with KXI. It will also pursue potential joint venture partnerships as it assesses the value of the project's core technology.