K
KULR Technology Group, Inc.
KULRCIK 0001662684NYSENon-AcceleratedSmaller ReportingElectronic Components & AccessoriesDelawareFY ends Dec 31
Period
FY 2025
Revenue
$16.17M
Net Income
$-61.90M
Total Assets
$2.90M
Equity
$121.61M
Shares Out
46.26M
Op. Cash Flow
$-44.88M
Business
KULR Technology Group designs and manufactures advanced battery energy storage systems and thermal management solutions for aerospace, defense, autonomous platforms, e-mobility, grid storage, and space applications. Its core offerings include the KULR ONE® modular battery platform (with domain-specific variants for space, defense, aviation, grid, and subsea), battery management systems, vibration-reduction technology (KULR VIBE), battery recycling solutions (SafeCASE and Thermal Runaway Shield), and custom battery engineering services. KULR operates a vertically integrated design and manufacturing facility in Houston, Texas, serving mission-critical applications where thermal management, safety, and propagation resistance are essential, alongside direct sales and partnership-based distribution.
Summary from 10-K filed 2026-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 16 | 11 | 10 | 4 | 2 | |
| Cost of revenue | 15 | 5 | 6 | 2 | 1 | |
| Gross Profit | 770,972 | 5 | 4 | 2 | 1 | |
| Research and development | 11 | 5 | 7 | 4 | 2 | |
| Selling, general, and administrative | 28 | 16 | 19 | 16 | 11 | |
| Credit losses on accounts receivable | 2 | — | — | — | — | |
| Impairment of finance lease right-of-use asset | 905,630 | 0 | — | — | — | |
| Impairment of property and equipment | 625,967 | 0 | — | — | — | |
| Impairment of intangible assets | 202,058 | 0 | — | — | — | |
| Impairment of equipment deposits | 1 | — | — | — | — | |
| Total Operating Expenses | 44 | 21 | 26 | 21 | 13 | |
| Loss From Operations | −43 | −15 | −22 | −18 | −12 | |
| Change in fair value of digital assets | −14 | −718,826 | — | — | — | |
| Impairment of equity investment | −3 | — | — | — | — | |
| Credit loss on loan receivable | −2 | — | — | — | — | |
| Interest income | 563,271 | 10,575 | — | — | — | |
| Change in fair value of accrued issuable equity | −17,075 | −228,777 | 167,040 | 147,035 | −125,821 | |
| Interest expense | −159,944 | −209,817 | −718,420 | — | — | |
| Amortization of debt discount | −82,878 | −1 | −730,230 | −511,825 | −128,198 | |
| Gain on debt extinguishment | 50,000 | 9,834 | — | −8,508 | — | |
| Total Other Expense, net | −19 | −2 | −1 | −1 | −397,736 | |
| Net Loss | −62 | −18 | −24 | −19 | −12 | |
| Net Loss Per Share - Basic (in dollars per share) | −1.56 | −0.75 | −0.2 | −0.18 | −0.15 | |
| Net Loss Per Share - Diluted (in dollars per share) | −1.56 | −0.75 | −0.2 | −0.18 | −0.15 | |
| Weighted Average Number of Common Shares Outstanding - Basic (in shares) | 40 | 23 | 118 | 106 | 96 | |
| Weighted Average Number of Common Shares Outstanding - Diluted (in shares) | 40 | 23 | 118 | 106 | 96 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2025 2025-10-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 |
|---|---|---|---|---|---|---|
| Cash | 13 | — | 30 | 1 | — | |
| Accounts receivable, net of allowance for credit losses of $1,450,000 and $0 as of December 31, 2025 and 2024, respectively | 2 | — | 3 | 901,672 | — | |
| Grant receivable | 2 | — | — | — | — | |
| Inventory | 581,156 | — | 545,467 | 1 | — | |
| Inventory deposits | 839,644 | — | 0 | 27,500 | — | |
| Auto-Vibe assets | 5 | — | — | — | — | |
| Prepaid expenses and other current assets | 2 | — | 1 | 631,361 | — | |
| Total Current Assets | 26 | — | 34 | 4 | — | |
| Digital assets | 94 | — | 20 | — | — | |
| Accounts receivable, non-current portion | 998,772 | — | 1 | — | — | |
| Property and equipment, net | 5 | — | 4 | 5 | — | |
| Equipment deposits | 806,000 | — | 1 | 1 | — | |
| Security deposits | 39,430 | — | 48,158 | 10,228 | — | |
| Intangible assets, net | 370,925 | — | 577,099 | 719,395 | — | |
| Operating lease right-of-use assets, net | 1 | — | 1 | 129,202 | — | |
| Finance lease right-of-use asset, net | 0 | 987,932 | 6,215 | — | — | |
| Deferred financing costs | 276,690 | — | 155,497 | 70,607 | — | |
| Other non current assets | 102,703 | — | — | — | — | |
| Total Assets | 3 | — | 63 | 11 | — | |
| Accounts payable | 3 | — | 2 | 3 | — | |
| Accrued expenses and other current liabilities | 3 | — | 1 | 3 | — | |
| Accrued issuable equity | — | — | 420,427 | 13,002 | — | |
| Operating lease liabilities, current portion | 366,937 | — | 493,468 | 102,186 | — | |
| Finance lease liability, current portion | — | — | 2,463 | — | — | |
| Notes payable, net of discount, current portion | — | — | 494,796 | — | — | |
| Deferred revenue | 107,267 | — | 32,768 | 551,021 | — | |
| Total Current Liabilities | 6 | — | 5 | 7 | — | |
| Operating lease liabilities, non-current portion | 1 | — | 818,750 | — | — | |
| Finance lease liability, non-current portion | — | — | 3,852 | — | — | |
| Other non-current liabilities | — | — | 10,966 | — | — | |
| Total Liabilities | 0 | — | 5 | 13 | — | |
| Commitments and contingencies (Note 17) | — | — | — | — | — | |
| Common stock, $0.0001 par value, 500,000,000 shares authorized; 46,063,172 and 46,041,250 shares issued and outstanding at December 31, 2025, respectively; 33,100,207 and 33,083,812 shares issued and outstanding at December 31, 2024, respectively | 4,606 | — | 3,310 | 13,403 | — | |
| Additional paid-in capital | 268 | — | 142 | 64 | — | |
| Treasury stock, at cost; 21,922 and 16,395 shares held at December 31, 2025 and December 31, 2024, respectively. | −393,744 | — | −296,222 | −296,222 | — | |
| Accumulated deficit | −146 | — | −84 | −66 | — | |
| Total Stockholders' Equity | 122 | — | 57 | −2 | 1 | |
| Total Liabilities and Stockholders' Equity | 129 | — | 63 | 11 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Non-cash operating lease expense | 569,967 | 447,332 | 250,893 | — | — | |
| Depreciation and amortization expense | 1 | 2 | 2 | 259,399 | 67,715 | |
| Stock-based compensation | 7 | 3 | 4 | 4 | 4 | |
| Write down finance lease ROU asset | 1,351 | — | — | — | — | |
| Digital assets received as downtime credits | −784,187 | — | — | — | — | |
| Mining of digital assets | −7 | — | — | — | — | |
| Loss on disposal of property and equipment | — | 26,490 | — | — | — | |
| Subtotal | 25 | 7 | — | — | — | |
| Accounts receivable | −3 | −3 | 623,473 | −1 | −80,834 | |
| Auto-Vibe assets | −5 | — | — | — | — | |
| Inventory | −35,689 | 603,580 | 519,047 | −2 | −135,859 | |
| Inventory deposits | −839,644 | 27,500 | 257,760 | −3,072 | −309,688 | |
| Prepaid expenses and other current assets | −787,012 | −510,179 | 981,647 | −1 | −110,204 | |
| Security deposits | 8,728 | −37,930 | 50,213 | −1,500 | −50,213 | |
| Accounts payable | 1 | −708,276 | 754,056 | 658,715 | 385,342 | |
| Accrued expenses and other current liabilities | 888,647 | −2 | 1 | 824,826 | 768,215 | |
| Operating lease liabilities | −558,558 | −324,870 | −270,571 | −205,034 | −144,540 | |
| Deferred revenue | 74,499 | −518,253 | 528,021 | −109,303 | 112,303 | |
| Subtotal | −8 | −7 | — | — | — | |
| Net Cash Used In Operating Activities | −45 | −17 | −12 | −17 | −7 | |
| Loan receivable | −2 | — | — | — | — | |
| Equity investments | −3 | — | — | — | — | |
| Purchase of intangible assets | −138,180 | — | −135,000 | −543,572 | −200,000 | |
| Equipment deposits | −806,000 | −22,738 | −644,963 | −1 | −2 | |
| Purchases of property and equipment | −3 | −573,444 | −266,150 | −3 | −383,285 | |
| Purchases of digital assets | −80 | −21 | — | — | — | |
| Net Cash Used In Investing Activities | −89 | −22 | −1 | −5 | −3 | |
| Proceeds from loan payable | 8 | — | — | — | — | |
| Repayments of loan payable | −8 | — | — | — | — | |
| Proceeds from exercise of stock options | 10,815 | 23,455 | — | 53,457 | 121,866 | |
| Proceeds from the SEPA | — | 9 | — | 250,000 | — | |
| Proceeds from notes payable | — | 3 | 250,000 | 5 | — | |
| Issuance costs on notes payable | — | −166,100 | — | −17,200 | — | |
| Repurchase and cancellation of common stock | — | −500,000 | — | — | — | |
| Payment of employee tax withholdings from shares withheld | −448,301 | — | — | — | — | |
| Purchase of treasury shares | −97,522 | −500,000 | −229,249 | — | — | |
| Payments for deferred financing costs | −562,016 | −406,109 | — | — | −365,000 | |
| Repayments of notes payable | −577,674 | −3 | — | −1 | −2 | |
| Repayment of finance lease liability | −989,772 | −1,453 | — | — | — | |
| Net Cash Provided By Financing Activities | 117 | 68 | 4 | 17 | 16 | |
| Net Increase (Decrease) In Cash | −17 | 29 | −9 | −5 | 6 | |
| Interest | 159,943 | 62,380 | 314,731 | 86,062 | 1,635 | |
| Taxes | 0 | 0 | — | — | — | |
| Right-of-use asset for operating lease liability | 691,852 | 2 | 51,154 | — | 814,817 | |
| Purchase consideration payable | 594,860 | — | — | — | — | |
| Deferred financing costs charged to additional paid-in capital | 440,823 | 307,643 | 1,211 | 982 | — | |
| Common stock issued in satisfaction of accrued issuable equity | 80,328 | 386,516 | 206,047 | — | 209,200 | |
| Accounts payable and accrued expenses for property and equipment purchases | 23,995 | 45,646 | 489,211 | 294,794 | — | |
| Preferred shares issued for no consideration | 27 | 73 | — | — | — | |
| Common shares issued for restricted stock units vested and other common stock issued for services | 30 | 14 | — | — | — | |
| Warrants issued in connection with notes payable | — | 112,863 | — | — | — | |
| Notes payable for property and equipment | — | 42,788 | — | — | — | |
| Common stock issued pursuant to cashless warrant exercises | — | −18 | — | — | — | |
| Restricted stock awards converted to restricted stock units | — | 27 | — | — | — | |
| Original issue discount on indebtedness | — | 929,200 | — | — | — | |
| Common stock issued pursuant to Advance Notices in satisfaction of prepaid advance liability and interest | — | 6 | — | — | — | |
| Right-of-use asset for finance lease liability | 987,932 | 7,768 | — | — | — |
Filings
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Frequently asked questions
What is KULR Technology Group, Inc.'s CIK number?
KULR Technology Group, Inc.'s SEC CIK number is 0001662684 (1662684). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find KULR Technology Group, Inc.'s SEC filings?
All of KULR Technology Group, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did KULR Technology Group, Inc. last report earnings?
KULR Technology Group, Inc. (KULR) most recently filed an earnings 8-K with the SEC on May 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001104659-26-061192). This is KULR Technology Group, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is KULR Technology Group, Inc.'s most recent earnings 8-K?
KULR Technology Group, Inc.'s latest earnings 8-K (Item 2.02) was filed May 14, 2026 under accession 0001104659-26-061192. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View KULR Technology Group, Inc.'s latest earnings 8-K →
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