KULR Technology Group (KULR)
XASE:KULR
Want to see KULR full AI Analyst Report?
Top Page
KULR Technology Group
(NYSE MKT:KULR)
Select Model
Select Model
Rating:52Neutral
Price Target:
$4.00
▲(17.99% Upside)
Action:Reiterated
Date:06/03/26
The score is held down primarily by weak financial performance—large losses and heavy cash burn despite improving revenue. Technicals are supportive with strong trend/momentum, but overbought indicators add risk. The earnings call was constructive on margin improvement and a defined scale-up plan, while valuation offers limited support due to negative earnings.
Positive Factors
Strong Revenue Growth
Nearly doubling revenue year-over-year demonstrates durable commercial traction across multiple end markets. Sustained top-line expansion improves odds that pilot programs convert to recurring product shipments, supporting scale, customer diversification and longer-term revenue visibility if conversion and qualification continue.
Negative Factors
Deep Negative Cash Flow
Large, persistent cash burn is a structural weakness: ongoing negative operating and free cash flow necessitate external financing to fund production ramps and working capital. Recurrent cash deficits increase dilution risk, constrain investment flexibility, and make long-term plans contingent on successful capital raises.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
Nearly doubling revenue year-over-year demonstrates durable commercial traction across multiple end markets. Sustained top-line expansion improves odds that pilot programs convert to recurring product shipments, supporting scale, customer diversification and longer-term revenue visibility if conversion and qualification continue.
Read all positive factors
KULR Technology Group (KULR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$172.53M
Dividend YieldN/A
Average Volume (3M)2.84M
Price to Earnings (P/E)―
Beta (1Y)2.18
Revenue Growth62.35%
EPS Growth-46.70%
CountryUS
Employees52
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-1.52
Shares Outstanding46,254,040
10 Day Avg. Volume3,851,899
30 Day Avg. Volume2,835,554
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 Cap1.24
Enterprise Value/Revenue11.57
Enterprise Value/Gross Profit108.38
Enterprise Value/Ebitda-4.39
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, is a U.S.-based company dedicated to the development and commercialization of advanced thermal management technologies. These innovations are crucial for safeguarding...
How the Company Makes Money
KULR primarily generates revenue by selling (1) products, (2) services, and (3) technology/licensing tied to its battery and thermal management solutions, where available through customer contracts.
1) Product revenue: KULR sells thermal manageme...
KULR Technology Group Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Positive
The call presented a number of clear operational and commercial inflection points: nearly double-digit revenue growth (+98% YoY), sizable gross margin improvement (from 8% to ~29%), product adoption across multiple end markets (air, space, maritime, data center, telecom), and planned capacity expansion targeting 10,000 packs/month. At the same time, the business remains loss-making, revenue is still modest in absolute terms, and the planned H2 ramp depends on execution and qualification milestones. Management emphasized cost discipline and board changes to improve pricing and margins. Overall, the progress and momentum across product lines and margin metrics outweigh the remaining execution and capital risks, but the story remains execution-dependent.Positive Updates
Strong Revenue Growth
Total revenue grew 98% year-over-year to $4.8 million (Q1 2026 vs $2.4M in Q1 2025). Product sales rose 84% year-over-year to $2.1 million.
Negative Updates
Profitability Still Work in Progress
Company remains loss-making despite improvement — total loss from operations only reduced (~22% YoY) and management emphasized that one quarter does not constitute a full turnaround.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue grew 98% year-over-year to $4.8 million (Q1 2026 vs $2.4M in Q1 2025). Product sales rose 84% year-over-year to $2.1 million.
Read all positive updates
Company Guidance
Management guided 2026 as a build‑and‑scale year for the KULR ONE platform, with specific timing and metrics: Q1 showed momentum (total revenue +98% YoY to $4.8M; product revenue +84% YoY to $2.1M; blended gross margin ~29% vs 8% in Q1 2025; product gross margin 26%; operating loss down ~22% YoY), and the company plans to add ~25,000 sq ft of manufacturing in Q2 (bringing total R&D/production to >31,000 sq ft), install automated production lines and begin production in Q3 at a new facility (2000 sq ft cited) to target capacity of ~10,000 battery packs/month in H2 2026 to improve unit economics and margins; cost discipline targets include R&D down ~28–35% YoY and SG&A down ~8–9% YoY (total operating expenses ex a $500k credit loss down ~24% YoY), cash on hand ≈ $19M with ~1,085 BTC in treasury, and the company is prioritizing CapEx, working capital for inventory, and deployments across defense, UAS, space, maritime, telecom (over half a dozen BaaS engagements) and data‑center opportunities.KULR Technology Group Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
55
Neutral
Cash Flow
18
Very Negative
| Breakdown | Mar 2026 | Dec 2024 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 16.17M | 10.74M | 9.83M | 3.99M | 2.41M |
| Gross Profit | 770.97K | 5.48M | 3.67M | 2.36M | 1.31M |
| EBITDA | -60.26M | -14.36M | -20.03M | -17.73M | -11.71M |
| Net Income | -61.90M | -17.52M | -23.69M | -19.44M | -11.91M |
Balance Sheet | |||||
| Total Assets | 128.97M | 62.93M | 10.86M | 23.63M | 19.23M |
| Cash, Cash Equivalents and Short-Term Investments | 13.30M | 29.83M | 1.19M | 10.33M | 14.86M |
| Total Debt | 1.45M | 1.85M | 352.19K | 9.17M | 1.09M |
| Total Liabilities | 7.36M | 5.50M | 13.05M | 13.13M | 2.87M |
| Stockholders Equity | 121.61M | 57.43M | -2.18M | 10.49M | 16.37M |
Cash Flow | |||||
| Free Cash Flow | -47.87M | -17.94M | -13.01M | -22.00M | -9.54M |
| Operating Cash Flow | -44.88M | -17.34M | -11.97M | -17.35M | -6.81M |
| Investing Cash Flow | -89.08M | -21.60M | -1.05M | -4.65M | -2.74M |
| Financing Cash Flow | 117.44M | 67.57M | 3.87M | 17.47M | 15.53M |
KULR Technology Group Technical Analysis
Neutral
3.39
Price Trends
3.13
Positive
3.12
Positive
3.50
Positive
Market Momentum
0.34
Positive
47.90
Neutral
19.24
Positive
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 3.39 is below the 20-day moving average (MA) of 4.15, above the 50-day MA of 3.13, and below the 200-day MA of 3.50, indicating a neutral trend. The MACD of 0.34 indicates Positive momentum. The RSI at 47.90 is Neutral, neither overbought nor oversold. The STOCH value of 19.24 is Positive, 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 |
|---|---|---|---|---|---|---|---|
82 Outperform | $396.54M | 34.85 | 17.69% | ― | 11.50% | 9.24% | |
62 Neutral | $238.70M | 55.15 | 2.37% | 2.25% | 4.82% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $402.84M | -6.26 | -9.42% | 5.93% | -8.43% | 30.33% | |
52 Neutral | $172.53M | ― | -56.90% | ― | 62.35% | -46.70% | |
52 Neutral | $467.43M | ― | -42.12% | ― | -47.30% | 61.05% | |
52 Neutral | $79.70M | -69.42 | -12.20% | ― | 9.64% | 45.26% |
* Technology Sector Average
KULR
KULR Technology Group
3.73
-6.11
-62.09%
MEI
Methode Electronics
11.37
3.07
36.94%
RELL
Richardson Electronics
16.63
7.21
76.48%
ASPN
Aspen Aerogels
5.64
-0.53
-8.59%
LINK
Interlink Electronics
5.06
0.99
24.32%
MPTI
M-tron Industries Inc
91.76
45.11
96.70%
KULR Technology Group Corporate Events
Executive/Board Changes
KULR Technology Group Announces CFO Shawn Canter Departure
Neutral
May 21, 2026
On May 21, 2026, KULR Technology Corporation entered into a Separation Agreement and General Release with Chief Financial Officer Shawn Canter, under which his employment with the company terminated and, effective May 22, 2026, he resigned from al...
Business Operations and StrategyExecutive/Board Changes
KULR Overhauls Board and Refocuses on Core Growth
Positive
Apr 28, 2026
On April 28, 2026, a majority stockholder of KULR Technology Group removed four directors from the board and immediately elected Microsoft executive Ben Frank and pricing specialist Mike Kimel as new directors, while simultaneously amending and re...
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.