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KULR Technology Reports Record Revenue, First Quarterly Profit in Q2 2025
ByAinvest
Friday, Aug 15, 2025 3:07 pm ET1min read
KULR Technology Group Inc reported record revenue of approximately $4 million in Q2 2025, a 63% increase from Q2 2024. The company achieved its first quarterly profit of $0.22 per share and grew product revenue by 74% year over year. However, service revenue decreased by 57% and gross margin was impacted by unanticipated labor hours and Bitcoin price fluctuations. KULR has approximately $140 million in cash and Bitcoin, positioning it well for future growth.
KULR Technology Group Inc. (NYSE American: KULR) has reported robust financial results for the second quarter of 2025, marking significant growth and a turning point in its financial trajectory. The company reported record revenue of approximately $4 million, a 63% increase from the same period last year [1].Key highlights of the quarter include:
- Revenue Growth: Revenue increased by 63% to $3.97 million, with product sales up by 74% to approximately $1.98 million.
- Cash and Bitcoin Holdings: As of June 30, 2025, KULR held $24.73 million in cash and current accounts receivable, along with a substantial Bitcoin holding of approximately 1,035 BTC.
- Profitability: The company achieved its first quarterly profit of $8.14 million, or $0.22 per share, driven primarily by the mark-to-market gain of its Bitcoin holdings.
- Operating Loss: Despite the profit, the company reported an operating loss of $9.45 million due to increased SG&A expenses and R&D investments.
- Gross Margin: Gross margin decreased to 18% from 24% last year, primarily due to unanticipated labor hours and Bitcoin price fluctuations.
KULR's CEO, Michael Mo, commented on the results, noting the company's strong financial position and the strategic importance of its Bitcoin holdings in enabling future growth. The company's CFO, Shawn Canter, highlighted the significant revenue growth and the ongoing investment in R&D and Bitcoin acquisition strategies.
KULR's financial performance underscores its commitment to innovation and strategic growth. The company's inclusion in the Russell 3000® Index and its strategic partnership with German Bionic further demonstrate its market positioning and potential for future success.
References:
[1] https://www.globenewswire.com/news-release/2025/08/14/3133889/0/en/KULR-Technology-Group-Reports-Second-Quarter-2025-Financial-Results.html
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