Core Insights - KULR Technology Group reported a quarterly loss of 17 cents per share, missing the analyst estimate of a 16 cents loss [2] - The company achieved quarterly revenue of $6.88 million, surpassing the analyst consensus estimate of $6 million [2] Financial Performance - Revenue increased by 116% year-over-year, from $3.18 million in the same period last year to $6.88 million [5] - Product sales rose by 112%, with revenue of approximately $1.62 million compared to approximately $765,000 in the same quarter last year [5] - Gross margin decreased to 9% in the third quarter, down from 71% in the same period last year, primarily due to increased service contract hours and higher costs related to digital asset mining leases [5] Management Commentary - KULR's CEO, Michael Mo, emphasized the company's growth and innovation, highlighting a more resilient balance sheet supported by unlevered Bitcoin holdings [3] - The CEO expressed confidence in investing in next-generation KULR ONE battery products and advancing R&D initiatives [3]

Financial Results - KULR Technology Group, Inc. announced financial results for Q3 2025, with specific figures to be detailed in the press release[5] - The report was filed on November 18, 2025, indicating the date of the earliest event reported[2] - The press release is attached as Exhibit 99.1, providing detailed financial data and insights[11] Company Information - The company is listed on NYSE American LLC under the trading symbol KULR[3] - KULR Technology Group is classified as an emerging growth company, which may influence its financial reporting standards[4] - The company’s principal executive offices are located in Webster, Texas[2] Operational Highlights - The press release includes recent operational highlights, which may impact future performance[7] - The financial results and operational updates are not deemed "filed" under the Securities Exchange Act, indicating a specific regulatory compliance approach[10] Investor Communication - The company utilizes various social media channels for public disclosures, enhancing investor communication[9] - The report emphasizes the importance of reviewing the company's website and social media for material information updates[9]

Energy Storage and Robotics - KULR Technology Group reported a focus on energy storage systems and robotics, with the KULR ONE® platform as the strategic core of its business[142] - The KULR ONE® platform includes various offerings such as K1 Space, K1 Guardian, K1 Max, and K1 Air, targeting sectors like aerospace, defense, and energy storage[144] - KULR's battery management system (kBMS) is designed for both space and terrestrial applications, emphasizing safety and performance under extreme conditions[157] - The KULR ONE® Max platform is engineered for grid energy storage and AI data center backup, meeting UL 9540/9540A safety standards[151] - KULR has expanded into low-volume production of custom lithium-ion batteries, enhancing capabilities for the commercial space and defense sectors[177] - The company acquired intellectual property from Vibetech International to enhance its energy management solutions, focusing on reducing energy loss from vibrations[178] - KULR's kBMS will integrate with Nvidia Jetson to create KULR Core™, enabling AI capabilities for battery management and mission autonomy[160] - KULR's testing capabilities for cells and batteries have been significantly expanded over the last three years, focusing on abuse, electrical, and environmental testing[175] - KULR VIBE technology demonstrated a 23% increase in battery life and a 45% lift increase in a mission-critical drone application[179] - KULR's SafeCASE technology addresses the battery recycling market, which is expected to reach over $77 billion by 2034[185] - KULR's thermal management solutions are critical for the aerospace and defense industries, which are projected to be worth nearly $3 trillion in 30 years[186] Financial Performance - Total revenue for the three months ended September 30, 2025, was $6,884,840, representing an increase of $3,699,062 or 116% compared to $3,185,778 in the same period of 2024[209] - Revenue from product sales during the three months ended September 30, 2025, increased by $859,728 or 112% compared to the same period in 2024, driven by a new client base generating more significant revenue per contract[210] - Revenue from mining digital assets for the three months ended September 30, 2025, was $4,396,603, with a total of 55.70 bitcoin earned from mining operations since the initial contract on March 7, 2025[216] - Research and development expenses for the three months ended September 30, 2025, were $2,323,010, an increase of $1,090,677 or 89% compared to the same period in 2024, due to planned increases in R&D services and new hires[223] - Selling, general and administrative expenses for the three months ended September 30, 2025, were $6,263,803, representing an increase of $3,528,384 or 129% compared to $2,735,419 in the same period of 2024[227] - Gross profit for the three months ended September 30, 2025, was $628,880, a decrease of $1,628,572 or 72% compared to $2,257,452 in the same period of 2024, with gross profit margins dropping from 71% to 9%[220] - Bad debt expenses for the three and nine months ended September 30, 2025, were $780,643, attributed to the write-off of accounts receivable associated with the company's Investee[229] - Impairment of equipment deposits for the nine months ended September 30, 2025, was $1,355,174, with no impairment expenses recorded in the same period of 2024[230] - Other income for the three months ended September 30, 2025, was $1,764,661, an increase of $2,058,125 compared to $(293,464) in the same period of 2024, primarily due to a $6,837,563 unrealized gain on Bitcoin holdings[231] - For the nine months ended September 30, 2025, other income increased by $11,204,070, primarily due to a $14,456,623 unrealized gain on Bitcoin holdings[232] Bitcoin and Mining Operations - KULR has deployed 3,570 Bitmain S19 XP 140T Bitcoin mining machines, increasing operational capacity to 750 petahash per second (PH/s)[201] - The company purchased 783.81 Bitcoin at an average cost of $101,683 per Bitcoin, totaling $79,700,002 during the nine months ended September 30, 2025[190] - KULR entered into a Master Loan Agreement with Coinbase for a revolving credit facility of up to $20 million[199] - The company issued 9,420,337 shares of common stock for aggregate gross proceeds of $107,311,618 during the nine months ended September 30, 2025[193] - KULR's Xero Vibe fan technology aims to improve cooling efficiency and reduce power consumption in server and data centers[182] - The company has adopted Bitcoin as its primary treasury reserve asset and plans to continue accumulating Bitcoin without a specific target[233] - As of September 30, 2025, the company held Bitcoin valued at $120,523,261, compared to $20,281,184 as of December 31, 2024, representing a significant increase[237] - Net cash used in operating activities for the nine months ended September 30, 2025, was $31,039,539, compared to $12,498,818 for the same period in 2024[238] - Net cash used in investing activities during the nine months ended September 30, 2025, was $85,499,202, primarily related to investments in digital assets of $79,700,002[239] - Net cash provided by financing activities for the nine months ended September 30, 2025, was $107,295,479, significantly higher than $12,427,476 in 2024, mainly due to proceeds from ATM equity financings[241] - The company entered into multiple lease agreements for Bitcoin mining machines, with total lease costs amounting to $8,556,045[234] - The average value of Bitcoin earned through machine lease agreements was $109,254, with a total of 55.70 Bitcoin mined[234] - As of September 30, 2025, cash balances were $20,588,596, down from $29,831,858 as of December 31, 2024[237] - The company repaid the remaining balance of the loan payable on October 15, 2025, improving its liquidity position[243] Partnerships and Collaborations - The company has partnered with Lockheed Martin and Leidos to develop technologies for hypersonic vehicles and other defense systems[188] - The company aims to convert early design partnerships into long-term production contracts, reinforcing its core mission of delivering safe and high-performance energy solutions[166]

Core Viewpoint - KULR Technology Group reported significant revenue growth in Q3 2025, driven by product sales and strategic partnerships, while also facing increased operating losses due to higher expenses in R&D and SG&A [2][6][7]. Financial Performance - Revenue for Q3 2025 increased by 116% to $6.88 million, compared to $3.18 million in Q3 2024 [2]. - Product sales rose by 112%, reaching approximately $1.62 million, up from approximately $765,000 in the same quarter last year [2]. - Cash and current accounts receivable totaled $24.54 million as of September 30, 2025 [3]. - Gross margin decreased to 9% in Q3 2025 from 71% in the same period last year, attributed to increased service contract hours and costs related to digital asset mining leases [3]. - SG&A expenses rose to $6.26 million in Q3 2025 from $2.74 million in Q3 2024, driven by growth-related investments [4]. - R&D expenses increased to $2.32 million in Q3 2025 from $1.23 million in the same period last year, reflecting planned increases in R&D services and new hires [5]. - Operating loss for Q3 2025 was $8.74 million, compared to $1.71 million in Q3 2024, primarily due to higher SG&A and R&D expenses [6]. - Net loss for Q3 2025 was $6.97 million, or a loss of $0.17 per share, compared to a net loss of $2.00 million, or a loss of $0.08 per share in the same period last year [7]. Strategic Developments - KULR announced partnerships with Amprius and Molicel to launch the KULR ONE Air product line for unmanned aircraft systems, with initial sample shipments starting in July 2025 and volume production expected in Q4 2025 [8]. - The company introduced six new commercial off-the-shelf K1S CubeSat batteries, enhancing its portfolio in space power systems [11]. - KULR launched a next-generation Battery Management System (kBMS) aimed at setting new industry standards for reliability and safety, with versions tailored for both defense and space applications [11]. - A hosting partnership with Soluna Holdings was established to operate approximately 3.3 MW of Bitcoin mining capacity, marking a strategic move into green data centers [11].

Core Points - KULR Technology Group, Inc. will hold a conference call on November 18, 2025, to discuss its financial results for Q3 2025 [1][3] - The company has included bitcoin as a primary asset in its treasury program since late 2024, committing to allocate up to 90% of its excess cash for bitcoin acquisition [4] Group 1: Conference Call Details - The conference call is scheduled for November 18, 2025, at 4:30 p.m. Eastern time [1][3] - Interested parties can submit questions to Stuart Smith via email by November 15, 2025 [2] Group 2: Company Overview - KULR Technology Group focuses on frontier technology businesses, including high-performance energy systems and AI Robotics [4] - The company provides advanced energy storage solutions for sectors such as space, aerospace, and defense, leveraging in-house battery design and production capabilities [4]

Core Insights - KULR Technology Group Inc. has entered a partnership with Soluna Holdings Inc. for a 3.3 MW Bitcoin mining hosting operation, marking a significant step in KULR's Bitcoin Treasury Accumulation Strategy [1][2][3] Company Overview - KULR Technology Group Inc. focuses on developing and commercializing thermal management technologies for electronics and batteries in the US [4] - Soluna Holdings Inc. operates in cryptocurrency mining through data centers and has three segments: Cryptocurrency Mining, Data Center Hosting, and HPC Services [4] Partnership Details - The partnership involves a Bitcoin Mining Lease where Soluna will manage KULR's mining hardware, ensuring guaranteed hashrate and uptime targets [3] - This collaboration allows Soluna to expand its customer base beyond traditional Bitcoin miners, aligning with KULR's strategy to allocate up to 90% of its surplus cash reserves to Bitcoin [2][3]

Core Viewpoint - KULR Technology Group, Inc. (KULR) is showing potential for a bullish trend as it has recently surpassed its 50-day moving average and reached a key support level [1][2]. Technical Analysis - KULR has recently overtaken the 50-day moving average, indicating a short-term bullish trend [1]. - The stock has increased by 17.8% over the past four weeks, suggesting positive momentum [2]. Earnings Estimates - There has been one upward revision in earnings estimates for the current fiscal year, with no downward revisions, indicating positive sentiment among analysts [3]. - The consensus earnings estimate for KULR has also increased, further supporting the bullish outlook [3]. Investment Sentiment - KULR currently holds a Zacks Rank of 3 (Hold), suggesting that the stock may continue to experience upward movement [2][3].

Core Insights - The article discusses the transition towards sustainable cryptocurrency mining through eco-friendly data centers, highlighting partnerships and expansions among key players in the industry [4][6][8]. Group 1: Industry Trends - Cryptocurrency mining data centers consume 100-200 times more energy than conventional office spaces, necessitating advancements in power consumption regulation and cooling mechanisms for sustainability [6]. - The market for sustainable data centers is projected to reach $43.64 billion by 2034, driven by the integration of renewable energy sources and advanced technologies [4][8]. Group 2: Company Developments - KULR Technology Group has entered a 3.3 MW hosting agreement with Soluna Holdings for Bitcoin mining at Project Sophie in Kentucky, set to launch in Q4 2025 [4][10]. - Soluna is also deploying a 20 MW Avalon miner project in Texas with Canaan Inc., expected to be operational by Q1 2026, enhancing its renewable-powered infrastructure [12][15]. - Riot Platforms mined 445 Bitcoin in September 2025, marking an 8% year-over-year increase, while diversifying into non-crypto data centers under new leadership [4][17]. - IREN Limited has doubled its AI cloud capacity to 23,000 GPUs, targeting over $500 million in annualized revenue by Q1 2026, reflecting the growing demand for AI and Bitcoin mining [20][22].

Core Insights - Soluna Holdings has announced a new hosting partnership with KULR Technology Group, marking its first collaboration with a Bitcoin treasury-focused company, thereby broadening its customer base beyond traditional Bitcoin miners and hyperscalers [1][2][3] Group 1: Partnership Details - Under the agreement, Soluna will operate approximately 3.3 MW of Bitcoin mining capacity for KULR at its Project Sophie facility in Kentucky, with operations expected to commence in Q4 2025 [2][5] - KULR will utilize Soluna's operational expertise to manage its mining hardware, ensuring guaranteed hashrate and uptime targets through a new "Bitcoin Mining Lease" structure [6][7] Group 2: Strategic Implications - The partnership reflects a strategic shift for Soluna, as it adapts its renewable-powered hosting model to meet the evolving demands of Bitcoin mining and adjacent industries [3][4] - KULR's commitment to allocate up to 90% of its surplus cash reserves to Bitcoin as part of its treasury strategy aligns with Soluna's model, which offers a pathway to guaranteed hashrate without the operational complexities of mining [7][12] Group 3: Market Context - The global Battery Backup Unit (BBU) market is projected to grow from 29.22 billion USD in 2025 to 43.64 billion USD by 2034, indicating a significant opportunity for companies like KULR as they expand their focus beyond Bitcoin mining [4]

Core Insights - KULR Technology Group has announced a new hosting partnership with Soluna Holdings to operate 3.3 MW of Bitcoin mining capacity at Soluna's Project Sophie facility in Kentucky, marking a strategic move into sustainable Bitcoin mining [1][4][6] - The partnership allows KULR to leverage Soluna's expertise in renewable-powered hosting, aligning with the growing demand for sustainable computing infrastructure in the Bitcoin mining sector [2][3][6] - KULR's commitment to Bitcoin as part of its treasury strategy includes allocating up to 90% of its surplus cash reserves to Bitcoin acquisition, supported by this new hosting framework [6][8] Company Overview - KULR Technology Group is a Bitcoin+ treasury company focused on high-performance energy systems and AI Robotics, delivering advanced energy storage solutions for various sectors [7][8] - Soluna Holdings specializes in developing green data centers that utilize surplus renewable energy for intensive computing applications, including Bitcoin mining [9] Market Context - The global Battery Backup Unit (BBU) market is projected to grow from 29.22 billion USD in 2025 to 43.64 billion USD by 2034, indicating a significant opportunity for KULR as it expands into BBU solutions [3]