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KULR Technology Group Q3 revenue jumps year-over-year

By Reuters News


Overview

  • U.S. energy systems platform's Q3 revenue rose 197% yr/yr, driven by KULR ONE product sales

  • Q3 net income driven by non-recurring gain from digital asset sale after Bitcoin exit

  • Gross margin fell to 4% from 17% due to low-margin initial builds and custom program losses


Outlook

  • Company expects R&D expenses to decline starting Q4 2026 and further in 2027

  • Company expects $4 mln in annualized cost savings from workforce reduction by end-2026

  • KULR expects significant ramp up of NDAA-compliant battery solutions for autonomous systems in 2027


Result Drivers

  • KULR ONE PLATFORM - Product sales growth driven by KULR ONE platform, including KULR ONE Max battery systems for power-as-a-service in Japan

  • NDAA-COMPLIANT SUPPLY CHAIN - Co built supply chain for domestic-sourcing requirements, including own battery management systems and in-house assembly

  • COST REDUCTION MEASURES - Co implemented workforce reduction and process streamlining, targeting $4 mln in annualized cost savings


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$7.40 mln

Q3 EPS

$0.10

Q3 Net Income

$4.50 mln

Q3 Gross Margin

4.00%

Q3 Income from Operations

-$11 mln


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the electrical components & equipment peer group is "buy"

  • Wall Street's median 12-month price target for KULR Technology Group Inc is $7.00, about 329.4% above its November 9 closing price of $1.63


Reuters Recommended Reads

  • Nov 10 - Ambiq Micro Q3 sales jump 110%, beat estimates on edge AI demand

  • Nov 10 - 908 Devices Q3 revenue growth beats estimates; hikes forecast

  • Nov 9 - Telos Q3 revenue and adj EPS beat on security solutions strength; raises FY outlook


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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