KULR Technology reports 116% revenue growth in third quarter

KULR Technology Group Inc. (NYSE American: KULR) reported third-quarter revenue of $6.88 million, representing a 116% increase from $3.18 million in the same period last year, according to a company statement.

The Houston-based energy systems company posted a net loss of $6.97 million, or $0.17 per share, compared to a net loss of $2.00 million, or $0.08 per share, in the third quarter of 2024. Product sales increased 112% to approximately $1.62 million from $765,000 in the prior year quarter.

Gross margin declined to 9% from 71% in the same period last year, primarily due to increased service contract hours and higher costs related to digital assets mining leases. Operating loss expanded to $8.74 million from $1.71 million in the prior year quarter.

The company's selling, general and administrative expenses rose to $6.26 million from $2.74 million, while research and development expenses increased to $2.32 million from $1.23 million. KULR attributed the increases to planned investments in growth activities, including additional personnel and stock-based compensation.

As of September 30, 2025, KULR reported combined cash and current accounts receivable of $24.54 million.

During the quarter, KULR announced partnerships with Amprius Technologies (NYSE: AMPX) and Molicel for its KULR ONE Air battery systems targeting unmanned aircraft systems. The company also entered a 3.3 MW hosting partnership with Soluna Holdings Inc. (NASDAQ: SLNH) for Bitcoin mining operations and launched six new commercial off-the-shelf CubeSat battery models.

KULR describes itself as a Bitcoin treasury company that builds frontier technology businesses ranging from energy systems to AI robotics.

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