$KULR
KULR Technology Group, Inc.
CIK:0001662684|SEC Filings
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||
| Revenue | $ 2,080,177 | $ 3,652,471 | $ 6,026,607 | $ 6,101,077 |
| Cost of revenue | 2,719,110 | 2,938,761 | 6,148,248 | 5,181,022 |
| Gross Profit (Loss) | (638,933) | 713,710 | (121,641) | 920,055 |
| Operating Expenses | ||||
| Research and development | 2,985,659 | 2,436,754 | 4,756,159 | 4,886,654 |
| Selling, general, and administrative | 6,307,097 | 6,941,599 | 12,839,066 | 13,573,072 |
| Credit losses on accounts receivable | 1,272,889 | 1,272,889 | ||
| Credit losses on R&D activity | 500,000 | |||
| Impairment expense | 786,397 | 1,355,174 | ||
| Total Operating Expenses | 10,565,645 | 10,164,750 | 19,368,114 | 19,814,900 |
| Loss From Operations | (11,204,578) | (9,451,040) | (19,489,755) | (18,894,845) |
| Other Income (Expense) | ||||
| Change in fair value of digital assets | (10,591,667) | 17,367,660 | (31,359,380) | 7,619,060 |
| Interest income | 47,476 | 168,975 | 85,963 | 337,399 |
| Miscellaneous income | 7,000 | 7,000 | ||
| Interest expense | (229,047) | (2,124) | (234,488) | (12,521) |
| Change in fair value of accrued issuable equity | 58,678 | 319,276 | ||
| Amortization of debt discount | (82,878) | |||
| Gain on debt extinguishment, net | 50,000 | |||
| Total Other Income (Expense) | (10,766,238) | 17,593,189 | (31,500,905) | 8,230,336 |
| Net Income (Loss) | $ (21,970,816) | $ 8,142,149 | $ (50,990,660) | $ (10,664,509) |
| Net Income (Loss) Per Share | ||||
| Net Income (Loss) Per Share, Basic (in dollars per share) | $ (0.47) | $ 0.22 | $ (1.1) | $ (0.3) |
| Net Income (Loss) Per Share - Diluted (in dollars per share) | $ (0.47) | $ 0.22 | $ (1.1) | $ (0.3) |
| Weighted Average Number of Common Shares Outstanding | ||||
| Weighted Average Number of Common Shares Outstanding - Basic (in shares) | 46,303,656 | 37,273,766 | 46,275,080 | 36,103,775 |
| Weighted Average Number of Common Shares Outstanding - Diluted (in shares) | 46,303,656 | 37,590,336 | 46,275,080 | 36,103,775 |
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Current Assets: | ||
| Cash | $ 12,783,933 | $ 13,300,188 |
| Restricted cash | 142,025 | |
| Accounts receivable, net of allowance for credit losses of $2,005,492 and $1,450,000 as of June 30, 2026 and December 31, 2025, respectively | 1,859,668 | 2,076,556 |
| Grant receivable | 640,682 | 1,886,376 |
| Inventory | 1,511,313 | 581,156 |
| Inventory deposits | 440,035 | 839,644 |
| Digital assets | 30,839,860 | |
| Digital assets, pledged as collateral | 33,083,010 | |
| Auto-vibe assets | 5,046,759 | |
| Prepaid expenses and other current assets | 3,373,794 | 1,825,849 |
| Total Current Assets | 84,674,320 | 25,556,528 |
| Digital assets, non-current | 93,995,256 | |
| Restricted cash, non-current | 142,025 | |
| Accounts receivable, non-current, net of allowance for credit losses of $717,397 and $0 as of June 30, 2026 and December 31, 2025, respectively | 49,020 | 998,772 |
| Auto-Vibe assets, non-current, net of allowance for credit losses of $500,000 and $0 as of June 30, 2026 and December 31, 2025, respectively | 4,521,759 | |
| Property and equipment, net | 7,314,800 | 5,482,743 |
| Equipment deposits | 17,119 | 806,000 |
| Security deposits | 106,980 | 39,430 |
| Intangible assets, net | 304,931 | 370,925 |
| Operating lease right-of-use assets | 2,668,447 | 1,338,657 |
| Deferred financing costs | 276,690 | 276,690 |
| Other non-current assets | 102,703 | |
| Total Assets | 100,076,091 | 128,967,704 |
| Current Liabilities: | ||
| Accounts payable | 1,557,625 | 3,173,813 |
| Accrued expenses and other current liabilities | 2,818,004 | 2,628,914 |
| Loan payable | 20,000,000 | |
| Operating lease liabilities, current portion | 341,724 | 366,937 |
| Deferred revenue | 358,345 | 107,267 |
| Total Current Liabilities | 25,075,698 | 6,276,931 |
| Operating lease liabilities, non-current portion | 2,426,016 | 1,078,575 |
| Total Liabilities | 27,501,714 | 7,355,506 |
| Commitments and contingencies (Note 11) | ||
| Stockholders' Equity | ||
| Common stock, $0.0001 par value, 500,000,000 shares authorized; 46,293,969 and 46,272,047 shares issued and outstanding at June 30, 2026, respectively; 46,063,172 and 46,041,250 shares issued and outstanding at December 31, 2025, respectively | 4,629 | 4,606 |
| Additional paid-in capital | 269,665,057 | 267,712,241 |
| Treasury stock, at cost; 21,922 shares held at June 30, 2026 and December 31, 2025 | (393,744) | (393,744) |
| Accumulated deficit | (196,701,665) | (145,711,005) |
| Total Stockholders' Equity | 72,574,377 | 121,612,198 |
| Total Liabilities and Stockholders' Equity | 100,076,091 | 128,967,704 |
| Series A Voting Preferred Stock | ||
| Stockholders' Equity | ||
| Preferred stock, $0.0001 par value, 20,000,000 shares authorized | 100 | 100 |
| Series B Convertible Preferred Stock | ||
| Stockholders' Equity | ||
| Preferred stock, $0.0001 par value, 20,000,000 shares authorized | ||
| Series C Convertible Preferred Stock | ||
| Stockholders' Equity | ||
| Preferred stock, $0.0001 par value, 20,000,000 shares authorized | ||
| Series D Convertible Preferred Stock | ||
| Stockholders' Equity | ||
| Preferred stock, $0.0001 par value, 20,000,000 shares authorized |