KULR Technology Group (KULR)
XASE:KULR
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KULR Technology Group
(NYSE MKT:KULR)
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Rating:59Neutral
Price Target:
$3.50
▲(3.24% Upside)
Action:ReiteratedDate:01/15/26
The score is held back primarily by weak financial quality (ongoing losses and negative operating/free cash flow) despite strong revenue growth and low leverage. Offsetting this, technical momentum is constructive and recent earnings commentary and corporate developments point to accelerating commercial traction and expansion, while valuation remains constrained by negative earnings and no dividend support.
Positive Factors
Robust revenue growth and product-led shift
Sustained, rapid top-line expansion and a clear shift from services to product sales signal improving commercial traction and scalable revenue. Product revenue more than doubled, indicating rising product-market fit and higher repeatability versus one-off services revenue.
Negative Factors
Negative operating and free cash flow
Persistent negative operating and free cash flows limit self-funded growth and increase reliance on external financing or asset sales. Even with strong cash reserves, ongoing negative cash generation raises sustainability questions if revenue growth or margin improvements stall.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust revenue growth and product-led shift
Sustained, rapid top-line expansion and a clear shift from services to product sales signal improving commercial traction and scalable revenue. Product revenue more than doubled, indicating rising product-market fit and higher repeatability versus one-off services revenue.
Read all positive factors
KULR Technology Group (KULR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$102.31M
Dividend YieldN/A
Average Volume (3M)982.91K
Price to Earnings (P/E)―
Beta (1Y)2.05
Revenue Growth71.92%
EPS Growth31.84%
CountryUS
Employees52
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.17
Shares Outstanding45,674,420
10 Day Avg. Volume1,001,787
30 Day Avg. Volume982,914
Financial Highlights & Ratios
PEG Ratio5.70
Price to Book (P/B)92.28
Price to Sales (P/S)493.54
P/FCF Ratio-295.43
Enterprise Value/Market Cap0.85
Enterprise Value/Revenue5.22
Enterprise Value/Gross Profit23.60
Enterprise Value/Ebitda-4.15
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.55
Revenue Forecast (FY)$35.50M
KULR Technology Group Business Overview & Revenue Model
Company Description
KULR Technology Group, Inc., through its subsidiary, KULR Technology Corporation, develops and commercializes thermal management technologies for batteries, electronics, and other components applications in the United States. It offers lithium-ion...
How the Company Makes Money
KULR generates revenue through multiple key streams, primarily by selling its thermal management products and solutions to industries such as aerospace, automotive, and consumer electronics. The company has established significant partnerships wit...
KULR Technology Group Earnings Call Summary
Earnings Call Date:Nov 18, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Mar 31, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong positive sentiment, with record revenue growth and a solid financial position enabling significant expansion and innovation in high-growth markets. Although there are some challenges such as a decline in services revenue and one-time impairments, the overall outlook remains optimistic.Positive Updates
Record Revenue Growth
KULR Technology Group reported approximately $6.9 million in revenue for Q3 2025, marking a 116% increase year-over-year and a 75% sequential growth from the previous quarter.
Negative Updates
Decline in Services Revenue
While product revenue grew by 112%, services revenue was down by 74%, indicating a shift in business focus that may impact service-related revenue streams.
Read all updates
Q3-2025 Updates
Positive
Negative
Record Revenue Growth
KULR Technology Group reported approximately $6.9 million in revenue for Q3 2025, marking a 116% increase year-over-year and a 75% sequential growth from the previous quarter.
Read all positive updates
Company Guidance
During the KULR Technology Group's third-quarter 2025 earnings call, the company reported a robust performance with approximately $6.9 million in revenue, marking a 116% increase year-over-year and a 75% rise sequentially. The shift from services to a product-driven model was evident as product revenue more than doubled, while services revenue declined by 74%. KULR's financial health was highlighted by a $140 million reserve in cash and digital assets, and the absence of debt following the repayment of an $8 million Coinbase loan. The company anticipates a tenfold growth in its energy storage and management business over the next three years, driven by high demand for its KULR One platform, which includes the recently launched KULR One Air. The Texas-based facility is set for expansion to over 100,000 square feet by 2026, aiming to increase production from a few thousand to possibly 100,000 packs per month. The company also discussed its strategic Bitcoin treasury and mining operations, holding approximately $120 million in Bitcoin at the end of the third quarter. Despite a decline in services revenue, the company's focus on research, development, and expansion positions it for sustained growth, with a trailing twelve-month revenue record of $16.7 million.KULR Technology Group Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.68M | 10.74M | 9.83M | 3.99M | 2.41M | 623.97K |
| Gross Profit | 3.69M | 5.48M | 3.67M | 2.36M | 1.31M | 436.06K |
| EBITDA | -20.99M | -14.36M | -20.03M | -17.73M | -11.71M | -2.32M |
| Net Income | -22.26M | -17.52M | -23.69M | -19.44M | -11.91M | -2.85M |
Balance Sheet | ||||||
| Total Assets | 156.06M | 62.93M | 10.86M | 23.63M | 19.23M | 9.21M |
| Cash, Cash Equivalents and Short-Term Investments | 20.59M | 29.83M | 1.19M | 10.33M | 14.86M | 8.88M |
| Total Debt | 5.39M | 1.85M | 352.19K | 9.17M | 1.09M | 2.48M |
| Total Liabilities | 8.11M | 5.50M | 13.05M | 13.13M | 2.87M | 3.09M |
| Stockholders Equity | 147.96M | 57.43M | -2.18M | 10.49M | 16.37M | 6.12M |
Cash Flow | ||||||
| Free Cash Flow | -36.85M | -17.94M | -13.01M | -22.00M | -9.54M | -2.78M |
| Operating Cash Flow | -35.88M | -17.34M | -11.97M | -17.35M | -6.81M | -2.73M |
| Investing Cash Flow | -106.88M | -21.60M | -1.05M | -4.65M | -2.74M | -46.09K |
| Financing Cash Flow | 162.44M | 67.57M | 3.87M | 17.47M | 15.53M | 11.55M |
KULR Technology Group Technical Analysis
Negative
3.39
Price Trends
3.07
Negative
3.15
Negative
4.27
Negative
Market Momentum
-0.18
Positive
28.74
Positive
10.53
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KULR, the sentiment is Negative. The current price of 3.39 is above the 20-day moving average (MA) of 2.70, above the 50-day MA of 3.07, and below the 200-day MA of 4.27, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 28.74 is Positive, neither overbought nor oversold. The STOCH value of 10.53 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KULR.
KULR Technology Group Risk Analysis
KULR Technology Group disclosed 37 risk factors in its most recent earnings report. KULR Technology Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
KULR Technology Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $242.69M | 18.10 | 20.09% | ― | 12.79% | 23.79% | |
64 Neutral | $158.03M | -268.55 | 0.51% | 2.25% | 6.17% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $102.31M | -6.13 | -20.63% | ― | 71.92% | 31.84% | |
47 Neutral | $197.70M | -4.46 | -9.42% | 5.93% | -9.51% | 29.57% | |
46 Neutral | $273.32M | -0.60 | -133.77% | ― | -14.74% | -20086.56% | |
43 Neutral | $47.25M | -35.85 | -14.57% | ― | -1.70% | 17.13% |
* Technology Sector Average
KULR
KULR Technology Group
2.24
-8.32
-78.79%
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5.58
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11.04
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3.00
-1.25
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MPTI
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69.03
24.49
54.98%
KULR Technology Group Corporate Events
Business Operations and StrategyM&A Transactions
KULR Secures Major Caban Energy Supply and Manufacturing Deal
Positive
Jan 14, 2026
On January 14, 2026, KULR Technology Group announced it had been awarded a five-year preferred battery supply agreement from Miami-based renewable energy company Caban Energy, expected to generate about $30 million in revenue starting in 2026. As ...
Business Operations and StrategyPrivate Placements and Financing
KULR Pauses ATM Offering to Focus on Growth
Positive
Dec 22, 2025
On December 22, 2025, KULR Technology Group announced that it had elected to pause, effective December 19, 2025, its at-the-market equity offering program with Cantor Fitzgerald and Craig-Hallum through June 30, 2026, while keeping the underlying ...
Business Operations and StrategyProduct-Related Announcements
KULR Partners for Next-Gen AI Battery Solution
Positive
Dec 17, 2025
On December 17, 2025, KULR Technology Group announced a Joint Development Collaboration with a leading global battery-cell manufacturer to co-develop the next-generation KULR ONE® MAX Battery Backup Unit (BBU) product line. This innovative BB...
Business Operations and StrategyProduct-Related Announcements
KULR Joins Open Compute Project with AI Focus
Positive
Dec 11, 2025
On December 11, 2025, KULR Technology Group announced its Platinum Membership in the Open Compute Project (OCP), marking its entry into the AI data center market with rack-level Battery Backup Units (BBUs). This move signifies a strategic shift fr...
Business Operations and StrategyProduct-Related Announcements
KULR Technology Sponsors Reuters Energy Live 2025
Positive
Dec 9, 2025
On December 9, 2025, KULR Technology Group announced its sponsorship of Reuters Energy Live 2025, where its CTO, Dr. William Walker, will present on the company’s next-generation Battery Backup Units (BBUs). The presentation will highlight t...
Business Operations and StrategyShareholder Meetings
KULR Technology Group Holds Annual Stockholders Meeting
Positive
Nov 26, 2025
On November 21, 2025, KULR Technology Group held its Annual General Meeting of Stockholders, where significant decisions were made. Stockholders approved the election of five directors, ratified the appointment of CBIZ CPAs P.C. as the independent...
Business Operations and StrategyProduct-Related Announcements
KULR Unveils Next-Gen 400V Battery System
Positive
Nov 24, 2025
On November 24, 2025, KULR Technology Group announced the development of a next-generation 400V battery system for a Counter-UAS Directed Energy System, with a prototype ready in just five weeks. This development highlights KULR’s rapid engi...
Business Operations and StrategyFinancial Disclosures
KULR Technology Group Reports Q3 2025 Revenue Surge
Neutral
Nov 18, 2025
KULR Technology Group reported a 116% increase in revenue for the third quarter of 2025, driven by growth in product sales and strategic partnerships. Despite the revenue gains, the company faced a net loss of $6.97 million due to increased SGA an...
Financial Disclosures
KULR Technology Group to Host Q3 Results Call
Neutral
Nov 12, 2025
KULR Technology Group announced it will host a conference call on November 18, 2025, to discuss its third-quarter financial results. The call will include a question-and-answer session, and interested parties can submit questions in advance. This ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.