KULR Technology Group — Third Quarter 2026 Earnings Summary

KULR Technology Group reported third-quarter 2026 revenue of $7.4 million, representing a 197% year-over-year increase driven by product sales that nearly quadrupled to $6.5 million. The company completed its exit from Bitcoin mining by selling all holdings for approximately $80.1 million, repaid its outstanding debt, and ended the quarter with $54.5 million in cash and no digital assets. Gross margin for the quarter was 4%, reflecting lower margins on initial production builds and custom programs, while research and development expenses rose to $5.02 million due to investments in NDAA-compliant battery supply chains. To improve future profitability, KULR implemented a reduction in force in November 2026 expected to generate $4 million in annualized cost savings and plans to ramp up production of autonomous system batteries in 2027.