KULR
KULR Technology Group, Inc.3.2900
-0.0500-1.5%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A emphasizes Air drone ramp
Q&A largely reaffirms the prepared pivot to KULR ONE batteries, zeroing in on Air platform as highest-momentum area with over 20 active programs, thousands shipped, and two leading U.S. drone makers targeting 10,000 packs monthly in H2 2026. Mo clarified Caban telecom production started with Q2 consolidation to Texas, Hylio quals for H2 revenue, and AI data center BBUs for 2027 post-certification. No contradictions, just firmer timelines on drone/telecom ramps versus longer-horizon AI/space plays. Air drives near-term growth. Management sounded disciplined; investors watch automation rollout and volume delivery.
Key Stats
Market Cap
150.29MP/E (TTM)
-Basic EPS (TTM)
-0.59Dividend Yield
0%Recent Filings
10-K
FY2025 results
KULR Technology hit record FY2025 revenues of $16.2M, up 51% y/y, driven by new $7.0M bitcoin mining segment and $1.9M grant revenue, yet product margins cratered to 1.5% from inventory write-offs tied to a bankrupt customer while mining posted -6.6% margins amid BTC price drops. Contract services flipped to -33% margins on higher labor and idle equipment costs. Q4 saw mining ramp with five lease deals but $13.8M unrealized BTC losses and $3.1M impairments crushed profitability. Bitcoin treasury swelled to 1,074 BTC at year-end; $20M Coinbase revolver available. Customer concentration risks loom large.
8-K
Q4 revenue dips, FY up 51%
KULR Technology Group reported Q4 2025 revenue down 15% to $2.9M amid 77% SG&A surge and $28M bitcoin mark-to-market hit, driving net loss to $44M. Full-year revenue jumped 51% to $16.2M, yet operating loss widened to $43M on R&D doubling. Cash fell to $13.3M, bitcoin holdings soared to $94M. Product revenue grew 39%. Investments ramped sharply.
8-K
KULR inks $30M battery deal
KULR Technology Group secured a five-year preferred battery supply agreement with Caban Energy on January 14, 2026, expected to generate $30 million in revenue starting 2026. It also bought Caban's Plano, Texas manufacturing assets—a non-material deal—to bolster U.S. production for communications, fiber, and data center markets. Assets fuel the supply pact. Forward-looking estimates carry execution risks.
8-K
Pauses ATM equity program
KULR Technology Group paused its at-the-market equity offering program with Cantor Fitzgerald and Craig-Hallum through June 30, 2026, effective December 19, 2025. No debt burdens the balance sheet; liquidity supports operations. It prioritizes KULR ONE Air production ramp and KULR ONE MAX development for AI data centers. Pause may lift post-June, market depending.
8-K
KULR inks AI BBU collaboration
KULR Technology Group entered a joint development collaboration on December 17, 2025, with a leading global battery-cell manufacturer to co-develop its next-generation KULR ONE® MAX BBU product line for AI-scale data centers. KULR leads design, safety engineering, and UL certification around an ultra-high-power 21700 cell platform meeting Meta OCP ORV3 and NVIDIA 800 HVDC standards. Partner commits long-term cell supply post-certification. This lays groundwork for a $100M commercial program.
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