KULR Technology Group, Inc. Earnings Recaps
Q2 2026
Aug 17, 2026
Shares dropped 11.1% as investors were clearly disappointed by the significant revenue decline, gross margin compression, and a cautious outlook driven by supply chain bottlenecks, execution challenges, and delayed production capacity ramp.
Key takeaways
- Q2 revenue fell sharply to $2.1 million, down significantly from both prior year and Q1, resulting in a gross loss for the quarter.
- Supply chain constraints delayed production and shipments, particularly impacting new battery configurations for new customers.
- Execution struggled due to overloaded resources and management bandwidth consumed by board and leadership changes.
- The Texas production facility was not yet operational in Q2, delaying capacity expansion and negatively affecting manufacturing output.
- Management is prioritizing core business focus, has exited Bitcoin mining and repaid debt, and expects better execution and capacity utilization starting in Q3.
Q1 2026
May 15, 2026
KULR’s shares dropped 5.9% following earnings, reflecting investor disappointment with cautious outlook and ongoing margin pressure despite strong revenue growth and operational improvements.
Key takeaways
- Total revenue nearly doubled year-over-year, reaching $4.8 million, driven by 84% growth in product sales to $2.1 million.
- Gross margin improved to 29% from 8% a year ago, though product sales margin remained relatively low at 26%.
- Operating losses narrowed by approximately 22% year-over-year, indicating progress but continued unprofitability.
- Management highlighted ongoing scaling efforts with expanded manufacturing capacity and commitment to battery business capital allocation.
- While customer traction in UAV, defense, and space markets is expanding, the stock reaction indicates skepticism around the pace of profitability and outlook details.
Q3 2025
Nov 19, 2025
KULR Technology Group achieved record performance in Q3 2025, reporting $6.9 million in revenue—an impressive 116% year-over-year increase—while eliminating debt and positioning for rapid growth in the energy storage sector.
Key takeaways
- Revenue surged 116% year-over-year and 75% sequentially, driven by a successful transition to a product-focused business model.
- Maintained a robust financial position with approximately $140 million in cash, zero debt, and repayment of the $8 million loan.
- Launched over 150 KULR One Air battery SKUs, enhancing the largest made-in-USA battery portfolio and diversifying into high-demand markets like AI data centers and telecom.
- Expansion plans include a 100,000 square-foot Texas headquarters and scaling production capacity from thousands to over 50,000 battery packs per month by 2026.
- Positioned competitively with a focus on speed, quality, performance, and safety as key differentiators in the fast-growing energy storage market.