KULR Technology Group (KULR) AI Stock Analysis

• Market Cap: $179.50M
• Dividend Yield: N/A
• Average Volume (3M): 1.74M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.71
• Revenue Growth: 71.92%
• EPS Growth: 31.84%
• Country: US
• Employees: 52
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.17
• Shares Outstanding: 45,674,420
• 10 Day Avg. Volume: 1,669,913
• 30 Day Avg. Volume: 1,740,053
• PEG Ratio: 5.70
• Price to Book (P/B): 92.28
• Price to Sales (P/S): 493.54
• P/FCF Ratio: -295.43
• Enterprise Value/Market Cap: 0.87
• Enterprise Value/Revenue: 9.35
• Enterprise Value/Gross Profit: 42.24
• Enterprise Value/Ebitda: -7.43
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: $4.00 ▲(42.35% Upside)

KULR Technology Group's overall stock score reflects strong revenue growth and strategic expansion plans, but is tempered by ongoing profitability challenges and bearish technical indicators. The positive sentiment from the earnings call and corporate events provides some optimism for future growth.

Positive Factors

Revenue Growth

The significant revenue growth indicates strong demand for KULR's products, suggesting a robust market position and potential for continued expansion.

Strong Financial Position

A strong cash position and no debt provide KULR with financial flexibility to invest in growth opportunities and weather economic downturns.

Expansion and Innovation

Entering new high-growth markets with innovative products can drive long-term revenue growth and enhance competitive positioning.

Negative Factors

Profitability Challenges

Ongoing profitability issues may limit reinvestment in business operations and could impact long-term financial sustainability.

Cash Flow Issues

Negative cash flows can constrain operational flexibility and necessitate external financing, impacting long-term growth potential.

Decline in Services Revenue

A significant decline in services revenue could reduce diversification of income streams, increasing reliance on product sales.

KULR Technology Group Business Overview & Revenue Model

Company Description

KULR Technology Group (KULR) is a leading provider of advanced thermal management solutions, specializing in technologies that enhance the safety and performance of lithium-ion batteries. The company operates primarily in the aerospace and automotive sectors, offering products such as thermal runaway shielding, battery safety testing, and energy storage solutions. KULR's innovative applications of carbon fiber and other advanced materials position it at the forefront of the battery technology field, catering to the growing demand for safer and more efficient energy solutions.

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 with major players in these sectors, enabling it to secure contracts for its battery safety technologies. Additionally, KULR engages in research and development collaborations that often lead to licensing agreements or joint ventures, further diversifying its income sources. The growing global emphasis on electric vehicles and energy storage solutions is also a significant factor contributing to KULR's earnings, as demand for their innovative thermal management products increases.

KULR Technology Group Financial Statement Overview

Summary

KULR Technology Group shows strong revenue growth but struggles with profitability, as indicated by negative net profit margins and cash flow issues. The balance sheet is stable with low leverage, but overall financial health needs improvement.

Income Statement

KULR Technology Group has shown a significant revenue growth rate of 28.5% TTM, indicating strong top-line expansion. However, the company is struggling with profitability, as evidenced by negative net profit, EBIT, and EBITDA margins. The gross profit margin has decreased over time, suggesting rising costs or pricing pressures. Overall, while revenue growth is a positive sign, the lack of profitability is a concern.

Balance Sheet

The company's balance sheet shows a low debt-to-equity ratio of 0.013 TTM, indicating low leverage and financial risk. However, the return on equity is negative, reflecting ongoing losses and inefficient use of equity capital. The equity ratio is relatively stable, suggesting a solid asset base. Overall, the balance sheet is stable but lacks profitability.

Cash Flow

KULR's cash flow statement reveals a challenging situation with negative operating and free cash flows. The free cash flow growth rate is positive at 20% TTM, but the operating cash flow to net income ratio is negative, indicating cash flow issues. The free cash flow to net income ratio is slightly above 1, suggesting some alignment between cash flows and accounting profits. Overall, cash flow management needs improvement.

Breakdown	TTM	Dec 2024	Dec 2023	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

• Technical Analysis Sentiment: Neutral
• Last Price: 2.81
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KULR, the sentiment is Neutral. The current price of 2.81 is below the 20-day moving average (MA) of 2.92, below the 50-day MA of 3.78, and below the 200-day MA of 7.08, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 63.04 is Neutral, neither overbought nor oversold. The STOCH value of 97.12 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for KULR.

KULR Technology Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MPTI	73 Outperform	$150.88M	21.00	22.65%	―	12.79%	23.79%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
RELL	61 Neutral	$150.88M	488.89	0.11%	2.27%	6.17%	―
MEI	56 Neutral	$292.30M	―	-8.87%	5.72%	-9.51%	29.57%
KULR	52 Neutral	$179.50M	―	-29.07%	―	71.92%	31.84%
ASPN	45 Neutral	$292.57M	―	-75.06%	―	-14.74%	-20086.56%
LINK	41 Neutral	$64.81M	―	-13.78%	―	-1.70%	17.13%

KULR Technology Group Corporate Events

KULR Technology Group Holds Annual Stockholders Meeting

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 accounting firm for 2025, approved the 2025 Equity Incentive Plan, and endorsed executive compensation, indicating strong shareholder support for the company’s strategic direction.

KULR Unveils Next-Gen 400V Battery System

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 engineering capabilities and positions the company as a key player in the expanding directed energy weapons market, which is expected to grow significantly due to increasing global defense budgets and demand for advanced countermeasures.

KULR Technology Group Reports Q3 2025 Revenue Surge

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 SG&A and R&D expenses, and a one-time impairment charge. Key highlights include partnerships with Amprius and Molicel for the KULR ONE Air product line, a hosting partnership with Soluna for Bitcoin mining, and the launch of new CubeSat batteries and a next-gen battery management system, positioning KULR for future growth in the UAS and space sectors.

KULR Technology Group to Host Q3 Results Call

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 announcement highlights KULR’s commitment to transparency and engagement with stakeholders, potentially impacting investor relations and market perception.

KULR Partners with Soluna for Bitcoin Mining

On October 9, 2025, KULR Technology Group announced a hosting partnership with Soluna Holdings, where Soluna will operate 3.3 MW of Bitcoin mining capacity for KULR at its Project Sophie facility in Kentucky. This collaboration marks Soluna’s first partnership with a Bitcoin treasury-focused company and supports KULR’s strategy to engage in Bitcoin mining through renewable energy infrastructure. The partnership is expected to commence operations in Q4 2025, enhancing Soluna’s leadership in sustainable computing and supporting KULR’s Bitcoin Treasury Accumulation Strategy.

KULR Launches Next-Gen Battery Management System

On October 2, 2025, KULR Technology Group announced the launch of its next-generation Battery Management System (kBMS), designed to set new standards in reliability, safety, and energy efficiency. The kBMS is available in two variants for defense and space applications, offering flexibility in cost and performance. This launch marks KULR’s expansion beyond thermal management into comprehensive battery safety solutions, potentially accelerating its adoption in mission-critical sectors.

KULR Technology Unveils New CubeSat Battery Line

On September 9, 2025, KULR Technology Group announced the release of six new commercial off-the-shelf versions of its KULR ONE Space CubeSat battery line, ranging from 100 to 500Wh, to meet the evolving needs of the space sector. The new K1S batteries, built on KULR’s flight-proven heritage, offer enhanced flexibility, safety, and customization for CubeSat and small satellite operators, strengthening KULR’s position as a leading provider of next-generation space power solutions.