Key Highlights

  • EPS was USD 0.10 against an estimated loss of USD 0.08, while Revenue of USD 7.4 million trailed estimates.
  • Net income was USD 4.47 million, against a net loss of USD 6.97 million in the third quarter of 2025.
  • The company sold all bitcoin, ended its treasury strategy and Mining operations, and repaid its Coinbase Credit borrowings in full.
  • Nine-month continuing operations revenue was USD 12.2 million, against USD 7.2 million a year earlier.

KULR Technology Group (NYSE American:KULR), a maker of thermal management and energy storage products, reported third quarter 2026 Earnings Per Share of USD 0.10, against an estimated loss of USD 0.08. Revenue of USD 7.4 million came in below the USD 10.0 million estimate. Net Income was USD 4.47 million, compared with a net loss of USD 6.97 million a year earlier. For the nine months, net loss was USD 46.5 million, compared with USD 17.6 million.

During the quarter the company sold all of its bitcoin, discontinued its Bitcoin treasury strategy, exited Bitcoin Mining operations and repaid in full its borrowings under a master Loan agreement with Coinbase Credit. The filing states that the risks described in its Annual Report under its bitcoin treasury strategy are no longer applicable.

For the nine months, revenue from continuing operations was USD 12.2 million against USD 7.2 million, from 49 customers against 50. Revenue from mining of digital Assets was USD 0.2 million in the quarter and USD 1.5 million for the nine months, against USD 4.1 million and USD 5.5 million a year earlier.

Grant revenue was USD 681,623 for the quarter and USD 1,618,811 for the nine months, against USD 501,032 for each prior-year period, reflecting a full period of activity under an award executed near the end of the third quarter of 2025. Related costs of USD 0.7 million and USD 1.6 million are classified within Research and Development expenses.

Power Infrastructure and Funding

The company recorded its first revenue from its battery energy storage modules during the quarter. These units are designed for distributed energy storage, including power-as-a-service deployments.

The company issued no shares under its at-the-market program in the three and nine months, and on September 30 it announced it had extended a pause of at-the-market transactions through December 31, 2026. The filing includes the Going Concern evaluation required under accounting standards, which asks whether conditions raise substantial doubt about meeting obligations within one year.

Legal Item Disclosed in the Filing

The legal proceedings item refers to a Section 205 Action described in a subsequent events note, which is incorporated by reference. The note in the filing describes the nature and status of that action.

Items to Follow

Continuing operations revenue after the bitcoin exit, the first deployments of the energy storage modules, grant revenue and the status of the at-the-market pause are the figures to follow. The swing from a net loss to net income in the quarter reflects items tied to the bitcoin exit alongside operations, so the nine-month net loss of USD 46.5 million gives a wider view of the year.