Bitcoin News Today: KULR's Q3 Revenue Surges 116% as Net Loss Widens, Fueling R&D and Bitcoin Bets

KULR Technology Group, Inc. (NYSE American: KULR) reported a 116% year-over-year revenue surge to $6.88 million in Q3 2025, driven by robust growth in product sales and digital asset mining operations. Despite the revenue jump, the company posted a wider net loss of $6.97 million, or $0.17 per share, compared to $2.00 million, or $0.08 per share, in the same period last year. The loss was attributed to a one-time impairment charge, credit losses on receivables, and elevated operating expenses, including a 128% increase in SG&A costs to $6.26 million and a 88% rise in R&D spending to $2.32 million.

The company's gross margin contracted sharply to 9% in Q3 from 71% in the prior-year period, reflecting higher costs tied to service contracts and Bitcoin mining leases. CEO Michael Mo emphasized that the strong revenue growth and $24.5 million in combined cash and accounts receivable reserves position KULR to accelerate its R&D and product innovation, particularly in next-generation battery systems. The firm launched six new CubeSat batteries for space applications and a next-gen Battery Management System (kBMS) designed for aerospace and defense markets.

Strategic partnerships with Molicel and Amprius Technologies were highlighted as catalysts for KULR's KULR ONE Air product line, targeting the unmanned aerial systems (UAS) sector. The company also secured a 3.3 MW Bitcoin mining hosting deal with Soluna Holdings, leveraging renewable energy infrastructure to expand its digital asset portfolio.

KULR's balance sheet remains debt-free, with its Bitcoin treasury strategy-allocating up to 90% of excess cash to Bitcoin-further reinforcing financial flexibility. However, the firm faces risks from customer concentration, as one client accounted for 69% of Q3 revenue.

Analysts at Seeking Alpha highlighted the "super growth cycle" narrative, citing momentum in AI data centers, telecom infrastructure, and UAVs as key drivers for the energy storage segment.