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KULR Technology Group
(KULR)
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Rating:45Neutral
Price Target:
$2.50
▼(-8.09% Downside)
Action:Reiterated
Date:09/12/26
The score is held down primarily by very weak financial performance (tiny and declining revenue base, extreme losses, and worsening cash burn). Technical signals also point to a sustained downtrend with negative momentum. Offsetting factors are limited but include earnings-call and event-driven improvements to financial flexibility (cash balance, debt elimination, reduced digital-asset exposure) and stated execution steps, which provide some support but do not outweigh current operating weakness.
Positive Factors
Debt-free liquidity
A cash balance of approximately $60 million with no debt gives KULR financial flexibility to fund production expansion, absorb operating volatility, and pursue customer programs without immediate interest or repayment obligations. This strengthens its ability to execute over the next several quarters.
Negative Factors
Severe unprofitability
Extremely negative operating and net margins show that the current revenue base is not covering KULR’s cost structure. Unless gross margins and operating efficiency improve materially, growth could continue requiring external funding rather than generating durable earnings or internally funded expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free liquidity
A cash balance of approximately $60 million with no debt gives KULR financial flexibility to fund production expansion, absorb operating volatility, and pursue customer programs without immediate interest or repayment obligations. This strengthens its ability to execute over the next several quarters.
Read all positive factors
KULR Technology Group (KULR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$115.70M
Dividend YieldN/A
Average Volume (3M)656.23K
Price to Earnings (P/E)―
Beta (1Y)2.25
Revenue Growth28.49%
EPS Growth-296.38%
CountryUS
Employees47
SectorTechnology
Sector Strength88
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)-2.21
Shares Outstanding46,280,323
10 Day Avg. Volume622,583
30 Day Avg. Volume656,227
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.97
Price to Sales (P/S)7.27
P/FCF Ratio-2.46
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$7.00Price Target Upside157.35% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
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, designs and builds advanced battery systems for autonomous platforms, digital infrastructure, and e-mobility and space. It provides battery production, internal shor...
How the Company Makes Money
KULR makes money primarily by selling products and services tied to battery safety and thermal management. Key revenue streams include: (1) Product revenue from thermal management components and materials (e.g., thermal interface/heat dissipation ...
KULR Technology Group Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Neutral
The call acknowledged a materially weak quarter (Q2 revenue of $2.1M and a gross loss) and a large first-half net loss heavily influenced by non-cash digital-asset markdowns, but management laid out concrete remediation steps: debt elimination, ~ $60M cash balance, cost cuts (SG&A down ~9% in Q2), operational reprioritization, capacity expansion in Texas, and product/milestone progress (Axiom selection, >350 Wh/kg demo, initial >$5M defense order). Positives show financial flexibility and clear execution priorities, while near-term operational execution, supply-chain bottlenecks, and recent losses present meaningful risks. The items on both sides are substantial and roughly balanced.Positive Updates
Cash Position and Debt Elimination
Approximately $60 million on the balance sheet and no debt after using proceeds from Bitcoin sales to fully repay a $20 million loan; avoided issuing shares through the ATM in H1 2026.
Negative Updates
Disappointing Q2 Revenue and Gross Loss
Q2 revenue was $2.1 million, described as 'down significantly' versus prior year and Q1, and the quarter produced a gross loss.
Read all updates
Q2-2026 Updates
Positive
Negative
Cash Position and Debt Elimination
Approximately $60 million on the balance sheet and no debt after using proceeds from Bitcoin sales to fully repay a $20 million loan; avoided issuing shares through the ATM in H1 2026.
Read all positive updates
Company Guidance
Management's guidance focused on three accountability measures—product revenue growth, gross margin improvement, and cost discipline—while providing many concrete metrics: Q2 revenue was $2.1 million with a gross loss, first‑half total revenue was $6.03M versus $6.10M year‑ago and energy management platform revenue was $4.76M versus $4.73M, SG&A declined ~9% YoY in Q2 (~5% in H1) and R&D was ~3% lower in H1, and the company holds approximately $60M of cash with no debt after repaying a $20M credit facility using proceeds from the sale of 333 BTC (releasing 565 BTC pledged), exiting mining and eliminating ~$2.1M of mining expense commitments for a $150k fee; management noted a ~ $51M H1 net loss of which ~$31.4M was non‑cash mark‑to‑market on digital assets. Operationally they expect a ~25,000 sq ft Texas facility and automated cylindrical/pouch cell lines to be operational in Q3, raw‑materials inventory is up roughly five‑fold since end‑2025 and will increase further in H2, NDAA‑compliant 6S chargers are being sampled with an 18S prototype complete and NDAA chargers expected to ship by end‑2026, pack volume to begin ramping in H2, and near‑term commercial traction includes a defense battery opportunity >$5M and demonstration of KULR ONE Air at >350 Wh/kg amid the U.S. Drone Dominance demand wave (a $1.1B program with ~30,000 units being delivered now and ~60,000 more expected in September, and FY2027 drone/counter‑drone budget requests >$70B).KULR Technology Group Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.68M | 16.17M | 10.74M | 9.83M | 3.99M | 2.41M |
| Gross Profit | 629.28K | 770.97K | 5.48M | 3.67M | 2.36M | 1.31M |
| EBITDA | -78.71M | -60.26M | -14.36M | -20.03M | -17.73M | -11.71M |
| Net Income | -101.33M | -61.90M | -17.52M | -23.69M | -19.44M | -11.91M |
Balance Sheet | ||||||
| Total Assets | 100.08M | 128.97M | 62.93M | 10.86M | 23.63M | 19.23M |
| Cash, Cash Equivalents and Short-Term Investments | 76.71M | 13.30M | 29.83M | 1.19M | 10.33M | 14.86M |
| Total Debt | 22.77M | 1.45M | 1.85M | 352.19K | 9.17M | 1.09M |
| Total Liabilities | 27.50M | 7.36M | 5.50M | 13.05M | 13.13M | 2.87M |
| Stockholders Equity | 72.57M | 121.61M | 57.43M | -2.18M | 10.49M | 16.37M |
Cash Flow | ||||||
| Free Cash Flow | -44.00M | -47.87M | -17.94M | -13.01M | -22.00M | -9.34M |
| Operating Cash Flow | -40.85M | -44.88M | -17.34M | -11.97M | -17.35M | -6.81M |
| Investing Cash Flow | -17.57M | -89.08M | -21.60M | -1.05M | -4.65M | -2.74M |
| Financing Cash Flow | 50.92M | 117.44M | 67.57M | 3.87M | 17.47M | 15.53M |
KULR Technology Group Technical Analysis
Neutral
2.72
Price Trends
2.58
Negative
3.16
Negative
3.06
Negative
Market Momentum
-0.04
Negative
51.99
Neutral
76.22
Neutral
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 2.72 is above the 20-day moving average (MA) of 2.43, above the 50-day MA of 2.58, and below the 200-day MA of 3.06, indicating a neutral trend. The MACD of -0.04 indicates Negative momentum. The RSI at 51.99 is Neutral, neither overbought nor oversold. The STOCH value of 76.22 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for KULR.
KULR Technology Group Risk Analysis
KULR Technology Group disclosed 49 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $330.72M | 26.62 | 13.03% | ― | 11.85% | 10.33% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $253.63M | 39.20 | 3.98% | 1.35% | 9.41% | ― | |
53 Neutral | $93.58M | -76.67 | -10.92% | ― | 7.85% | 45.80% | |
51 Neutral | $511.15M | -13.28 | -5.46% | 1.45% | 1.36% | 32.69% | |
48 Neutral | $433.20M | -3.58 | -53.29% | 6.79% | -49.12% | 59.96% | |
45 Neutral | $115.70M | -1.14 | -92.81% | ― | 28.49% | -296.38% |
* Technology Sector Average
KULR
KULR Technology Group
2.53
-1.80
-41.57%
MEI
Methode Electronics
13.79
6.37
85.90%
RELL
Richardson Electronics
17.73
8.30
87.92%
ASPN
Aspen Aerogels
5.48
-1.82
-24.93%
LINK
Interlink Electronics
5.98
-3.59
-37.51%
MPTI
M-tron Industries Inc
78.26
25.16
47.38%
KULR Technology Group Corporate Events
Business Operations and StrategyExecutive/Board Changes
KULR Technology Group Grants RSUs to Chief Financial Officer
Positive
Sep 11, 2026
Between August 20 and September 11, 2026, KULR Technology Group sold approximately 764 bitcoin in open market transactions to unrelated purchasers, generating gross proceeds of about $58.6 million at a weighted average price of roughly $76,633 per...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
KULR Sells Bitcoin Holdings to Eliminate Credit Facility
Positive
Jul 24, 2026
During the period from July 9 to July 23, 2026, KULR Technology Group, Inc. sold approximately 333 bitcoin in open-market transactions at a weighted average price of about $64,538 per BTC, generating roughly $21.5 million in gross proceeds. The sa...
Business Operations and StrategyPrivate Placements and Financing
KULR Technology Extends ATM Pause, Emphasizes Non-Dilutive Growth
Positive
Jun 26, 2026
On June 26, 2026, KULR Technology Group announced it had extended through September 30, 2026 the pause of its at-the-market equity offering program with Cantor Fitzgerald and Craig-Hallum, reaffirming a non-dilutive growth strategy. Management sai...
Business Operations and StrategyFinancial Disclosures
KULR Outlines Battery-Centric Strategy for Physical AI
Positive
Jun 24, 2026
On June 24, 2026, KULR Technology Group released a shareholder letter from Chairman and CEO Michael Mo, outlining a strategic vision built on the premise that “battery is infrastructure” for the emerging era of physical AI. The company...
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.