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].