KULR Technology Group (KULR) Company Report

KULR Technology Group achieved its strongest quarter to date in Q3 2025, reporting revenue of approximately $6.9 million, representing a 116% year-over-year increase and 75% sequential growth. This quarter also set a new trailing 12-month revenue record of $16.7 million.
The company maintains a robust financial foundation with approximately $140 million in cash and digital assets and no debt following the full repayment of an $8 million Coinbase loan. As of the end of Q3 2025, KULR's cash balance was over $20 million, and its Bitcoin holdings were valued at approximately $120 million.
KULR is expanding its product offerings, including the launch of KULR One Air for UAVs and drones, and the extension of the KULR One platform into AI data centers and telecom infrastructure. The company expects its energy storage and management business to grow tenfold over the next three years.
To support anticipated demand, KULR plans to expand its Texas headquarters to over 100,000 sq ft and scale battery production from a few thousand packs per month to more than 50,000 packs per month by mid-2026.

Nov 18, 2025, 9:30 PM

Transcript

KULR Technology Group Reports Record Q3 2025 Revenue and Strategic Product Expansion

KULR

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

KULR Technology Group delivered its strongest quarter to date in Q3 2025, generating approximately $6.9 million in revenue, marking a 116% year-over-year increase and a 75% sequential increase from the previous quarter. The company also set a new trailing 12-month revenue record at $16.7 million.
The company's financial foundation is strong, with approximately $140 million in cash and digital assets (including $120 million in Bitcoin) and no debt following the full repayment of an $8 million loan.
KULR is actively transitioning to a product-driven company, with product revenue more than doubling in Q3 2025. This includes the launch of KULR One Air, which now features over 150 made-in-USA battery SKUs for UAVs and drones, and the expansion of the KULR One platform into AI data centers and telecom infrastructure with new battery backup units and energy storage systems.
To meet anticipated demand, KULR plans to expand its Texas headquarters to over 100,000 sq ft in 2026 and scale production from a few thousand packs per month to more than 50,000 packs per month, with the capability to scale to 100,000 packs per month if demand accelerates.
The company maintains a disciplined Bitcoin treasury strategy, acquiring Bitcoin through mining operations at an all-in cost of approximately $102,000 per coin, which also provides strategic insights into the infrastructure energy solutions market.

Nov 18, 2025, 9:30 PM

Transcript

KULR Technology Group Reports Record Q3 2025 Revenue and Strategic Expansion

KULR

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

KULR Technology Group reported its strongest quarter to date in Q3 2025, generating approximately $6.9 million in revenue, representing 116% year-over-year growth and 75% sequential growth. This marks the fifth consecutive quarter of year-over-year revenue growth and a new trailing 12-month revenue record of $16.7 million.
The company strengthened its financial foundation, holding approximately $140 million in cash and digital assets and no debt after fully repaying an $8 million Coinbase loan. At the end of Q3 2025, the cash balance was over $20 million, and Bitcoin holdings were worth approximately $120 million.
KULR is transitioning to a product-driven company, with product revenue more than doubling in Q3 2025. Key initiatives include the launch of KULR One Air, which has created over 150 battery SKUs since July, and expansion of the KULR One platform into AI data centers and telecom infrastructure with new battery backup units (BBUs) and battery energy storage systems (BESS).
To meet rising demand, KULR plans to expand its Texas headquarters to over 100,000 sq ft in 2026 and scale production from a few thousand packs per month to more than 50,000 packs per month by mid-2026, with potential to scale to 100,000 packs per month if demand accelerates.
The company's Bitcoin treasury strategy involves incremental and economically sound BTC acquisitions through mining operations, with an all-in cost of approximately $102,000 per coin through Q3 2025. This strategy is aligned with shareholder value and synergistic with its move into AI data center energy markets.

Nov 18, 2025, 9:30 PM

Transcript

KULR Technology Group Reports Strong Q3 2025 Revenue Growth Amidst Decreased Margins and Increased Net Loss

KULR

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

KULR Technology Group reported a 116% increase in revenue to $6.88 million for the third quarter ended September 30, 2025, up from $3.18 million in the prior year, with product sales growing 112% to $1.62 million.
Gross margin significantly decreased to 9% in Q3 2025 from 71% in Q3 2024, primarily due to increased hours spent on service contracts and higher costs related to digital assets mining leases.
The company posted a net loss of $6.97 million, or $0.17 per share, for Q3 2025, compared to a net loss of $2.00 million, or $0.08 per share, in the same period last year.
As of September 30, 2025, KULR had $24.54 million in cash and current accounts receivable combined.
Key operational developments include strategic partnerships for the KULR ONE Air product line for Unmanned Aircraft Systems, a 3.3 MW Bitcoin mining hosting partnership with Soluna, and the launch of new CubeSat batteries and a next-generation Battery Management System.

Nov 18, 2025, 9:16 PM

8-K

KULR Technology Group Sets Third Quarter 2025 Earnings Call

KULR

Earnings

New Projects/Investments

KULR Technology Group, Inc. will host a conference call on Tuesday, November 18th, 2025, at 4:30 p.m. Eastern time to discuss its financial results for the third quarter ended September 30, 2025.
Interested parties can submit relevant questions prior to the call via email to [email protected] by 8:00 p.m. ET on Saturday, November 15th, 2025.
KULR operates as a Bitcoin+ Treasury company that builds a portfolio of frontier technology businesses, and since late 2024, has committed to allocating up to 90% of its excess cash to the acquisition of bitcoin.

Nov 12, 2025, 9:15 PM

Press Release

KULR and Soluna Partner for Bitcoin Mining Project

KULR

New Projects/Investments

KULR Technology Group and Soluna Holdings have announced a hosting partnership for approximately 3.3 MW of Bitcoin mining capacity at Soluna's Project Sophie facility in Kentucky.
Operations under the Bitcoin Mining Lease structure are expected to begin in the fourth quarter of 2025, supporting KULR's Bitcoin Treasury Accumulation Strategy.
The partnership is also positioned to expand into Battery Backup Unit (BBU) solutions and AI data center hosting powered by stranded renewable energy.
Despite this strategic partnership, Soluna Holdings is currently facing significant financial difficulties, including negative profitability and high financial risk.

Oct 9, 2025, 1:50 PM

Morningstar

KULR Technology Group Announces Hosting Partnership with Soluna

KULR

New Projects/Investments

KULR Technology Group (KULR) announced a new hosting partnership with Soluna Holdings, Inc. (Soluna).
Under the agreement, Soluna will operate approximately 3.3 MW of Bitcoin mining capacity for KULR at its Project Sophie facility in Kentucky.
The 3.3 MW deployment is expected to commence operations in Q4 2025.
This partnership supports KULR's Bitcoin Treasury Accumulation Strategy, which involves committing up to 90% of its surplus cash reserves to Bitcoin.

Oct 9, 2025, 12:30 PM

8-K

KULR Technology Group Announces 3.3 MW Bitcoin Mining Partnership with Soluna

KULR

New Projects/Investments

KULR Technology Group has entered into a 3.3 MW hosting partnership with Soluna Holdings, where Soluna will operate Bitcoin mining capacity for KULR at its Project Sophie facility in Kentucky.
This collaboration supports KULR's strategy as a Bitcoin+ treasury company, which includes committing up to 90% of its surplus cash reserves to Bitcoin.
The 3.3 MW deployment at Project Sophie is anticipated to commence operations in Q4 2025, with Soluna providing guaranteed hashrate and uptime targets for KULR's mining hardware.
KULR's CEO also indicated plans to expand beyond Bitcoin mining into Battery Backup Unit (BBU) solutions, viewing Soluna as a potential partner for future sustainable AI data center hosting projects.

Oct 9, 2025, 12:30 PM

Press Release

KULR Technology Group Launches Next-Generation Battery Management System

KULR

Product Launch

New Projects/Investments

KULR Technology Group, Inc. announced the launch of its next-generation KULR-developed Battery Management System (kBMS) on October 2, 2025, designed to set new industry benchmarks for reliability, safety, and energy efficiency.
The kBMS is offered in two variants: one for defense and terrestrial mission-critical applications, and another optimized for spacecraft power systems, with the space version providing flexible configurations for balancing budget, safety, and mission assurance.
Key features include an analog architecture with rad-tolerant chipset integration, robust firmware with dual-redundancy hardware, reduced power draw through lower-impedance MOSFETs, and a unique calibration capability that lowers lifecycle costs and reduces downtime.
This product launch expands KULR's offerings, positioning it as a comprehensive battery safety and intelligence provider with immediate availability for design-in and qualification programs.