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KULR Technology Group (KULR) investor relations material
KULR Technology Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary18 Nov, 2025
Executive summary
Achieved record Q3 2025 revenue of $6.9 million, up 116% year-over-year, driven by strong product sales, strategic partnerships, and expansion into bitcoin mining.
Transitioned to a product-driven business, with product revenue more than doubling and services revenue declining as focus shifts to scalable markets.
Significant expansion into bitcoin mining and treasury strategy, with $79.7M invested in bitcoin and $6.1M earned from mining in the first nine months.
Maintains a strong financial position with $140 million in cash and digital assets, no debt, and full repayment of an $8 million loan.
Gross profit margin declined to 9% in Q3 2025 from 71% in Q3 2024, mainly due to higher costs and non-recognition of revenue from a defaulted customer.
Financial highlights
Q3 2025 revenue reached $6.9 million, a 116% increase year-over-year; product sales up 112% to $1.62 million; services revenue declined 74%.
Digital asset mining contributed $4.4 million in Q3 and $6.1 million year-to-date; no such revenue in 2024.
Gross margin declined to 9% from 71% year-over-year; net loss for Q3 2025 was $7.0 million, or $0.17 per share.
Cash and receivables at September 30, 2025: $24.54 million; bitcoin holdings: $120.5 million.
Operating expenses rose sharply, with R&D up 89% and SG&A up 129% in Q3 2025 year-over-year.
Outlook and guidance
Expects energy storage and management business to grow tenfold over the next three years.
Anticipates scaling production to 50,000 packs per month by mid-2026, with readiness to double if demand accelerates.
Management remains confident in continued growth, citing a resilient balance sheet and ongoing investments in next-generation products and R&D.
Volume production of new KULR ONE Air battery systems for unmanned aircraft scheduled for Q4 2025.
No substantial doubt about liquidity for the next twelve months due to strong cash and bitcoin holdings.
Quantify mining lease impact on gross margin
Bitcoin treasury's role in funding R&D
K1A volume production ramp-up strategy
What is KULR's BBU competitive edge for AI racks?
How does Bitcoin mining aid AI market entry?
KULR's Energy as a Service model outlook?
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Next KULR Technology Group earnings date
Q4 202527 Mar, 2026
Next KULR Technology Group earnings date
Q4 202527 Mar, 2026
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KULR Technology Group Inc developes and commercializes thermal management technologies for batteries, electronics, and other components applications. The company's proprietary technology has been developed to combat the fires and other safety hazards associated with the growing use of rechargeable lithium-ion batteries in everyday products.
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