Bitcoin News Today: KULR Reports 116% Jump in Q3 Revenue While Net Loss Expands, Boosting Investment in R&D and Bitcoin

Bitget App

Trade smarter

Bitget

News

Markets

Bitcoin News Today: KULR Reports 116% Jump in Q3 Revenue While Net Loss Expands, Boosting Investment in R&D and Bitcoin

Bitget-RWA2025/11/19 01:34

By:Bitget-RWA

- KULR's Q3 2025 revenue surged 116% to $6.88M, but net loss widened to $6.97M due to impairment charges and rising operating costs. - The company boosted R&D spending by 88% to $2.32M while launching six CubeSat batteries and a next-gen battery management system. - Strategic partnerships with Molicel and Amprius , plus a 3.3 MW Bitcoin mining deal with Soluna , support KULR's UAS-focused product expansion. - Despite $24.5M in cash reserves and a Bitcoin treasury strategy, KULR faces risks from 69% revenue

KULR Technology Group, Inc. (NYSE American: KULR)

announced a 116% increase in revenue year-over-year

to $6.88 million for the third quarter of 2025, fueled by significant gains in both product sales and digital asset mining activities. Despite the substantial revenue growth, the company

reported a larger net loss of $6.97 million

, or $0.17 per share, compared to a $2.00 million loss, or $0.08 per share, during the same quarter last year. This loss was mainly due to a one-off impairment expense, credit losses on accounts receivable, and higher operating costs, including

a 128% jump in SG&A expenses to $6.26 million

and

an 88% increase in R&D expenditures to $2.32 million

The company’s gross margin

dropped significantly to 9% in Q3

from 71% in the same period last year, mainly due to higher costs related to service agreements and

Bitcoin

mining lease expenses.

CEO Michael Mo pointed out

that the robust revenue performance and a combined $24.5 million in cash and receivables put

KULR

in a strong position to ramp up R&D and drive product innovation, especially in advanced battery technologies. The company

introduced six new CubeSat batteries

for use in space and unveiled a next-generation Battery Management System (kBMS) tailored for aerospace and defense sectors.

Bitcoin News Today: KULR Reports 116% Jump in Q3 Revenue While Net Loss Expands, Boosting Investment in R&D and Bitcoin image 0

Strategic collaborations with Molicel

and Amprius Technologies were noted as important drivers for the KULR ONE Air product series, which is aimed at the unmanned aerial systems (UAS) market. Additionally, the company

landed a 3.3 MW Bitcoin mining hosting agreement

with Soluna Holdings, utilizing green energy infrastructure to grow its digital asset holdings.

KULR continues to operate without debt

, and its Bitcoin treasury approach—allocating up to 90% of surplus cash to Bitcoin—further enhances its financial agility. However, the company

is exposed to customer concentration risk

, as a single customer contributed 69% of Q3 revenue.

Analysts at Seeking Alpha

underscored the “super growth cycle” theme

, pointing to strong trends in AI data centers, telecom infrastructure, and UAVs as major growth engines for the energy storage business.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!