KULR Technology Group Q2 Earnings Call Highlights

Q2 results fell sharply short of expectations: Revenue declined to $2.1 million as supply-chain bottlenecks, limited engineering and manufacturing capacity, leadership disruption and Texas facility delays hurt battery-product deliveries. KULR recorded a gross loss, although first-half energy-management platform revenue remained broadly stable. KULR is refocusing on its core battery business and preserving liquidity: The company exited Bitcoin mining, repaid its $20 million credit facility, ended related operating commitments and reported approximately $60 million in cash with no debt. Management is also pursuing cost reductions and avoiding equity issuance to limit dilution. Management expects operational improvement in the second half: KULR anticipates its Texas facility and automated production lines will become operational in Q3, while delayed shipments recover and battery volumes ramp. Defense-drone orders, Axiom Space selection and potential NDAA-compliant charger sales provide additional growth opportunities.

KULR Technology Group NYSEAMERICAN: KULR reported second-quarter 2026 revenue of $2.1 million, a significant decline from both the prior-year period and the first quarter, as supply-chain bottlenecks, execution constraints and delayed production capacity affected deliveries of its battery products. Chief Executive Officer Michael Mo said the company recorded a gross loss during the quarter and acknowledged that the results fell short of management's expectations. He said KULR's priorities for 2026 remain product-revenue growth, gross-margin improvement and cost discipline.

Supply Chain, Program Load and Capacity Delays Weighed on Results Mo identified four main challenges during the quarter: long lead times for components in new programs, too many customer programs relative to available engineering and manufacturing resources, management disruption from board and leadership changes, and the lack of contribution from KULR’s new Texas facility. New parts required for newer battery programs created supply-chain bottlenecks that delayed planned second-quarter shipments, according to Mo. The company is also reviewing customer engagements and directing engineering and manufacturing resources toward programs with the strongest expected economics and strategic value. Despite the quarterly decline, Mo said KULR’s energy management platform business was broadly stable for the first half. Revenue from that platform was $4.76 million in the first six months of 2026, compared with $4.73 million a year earlier. Total first-half revenue was $6.03 million, compared with $6.1 million in the prior-year period. Second-quarter product sales were principally driven by two large orders from new customers involving new battery configurations, Mo said. He described that mix as evidence that the company is bringing products into new accounts as its KULR ONE platform scales.

Company Shifts Resources to Core Battery Operations Management said it has taken steps since quarter-end to simplify operations and concentrate capital on its core battery business. The company exited Bitcoin mining, repaid its $20 million credit facility using proceeds from Bitcoin sales, and did not issue shares through its at-the-market program during the first half of 2026. Chief Financial Officer Mike Kimel said KULR used proceeds from the sale of 333 Bitcoin to repay its Coinbase loan in full, releasing 565 Bitcoin that had been pledged as collateral. The company also terminated ...