Financial Statements — KULR
Balance Sheet
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 12.78 | 7.68 | 20.59 | 20.57 | 24.45 | 0.91 | 1.02 | 0.80 | 1.17 | 1.32 | 7.19 | 16.17 | 12.99 | 10.13 | 10.99 | 12.16 | 6.17 |
| Accounts Receivable | 1.86 | 2.05 | 2.96 | 3.87 | 2.94 | 2.68 | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Inventory | 1.51 | 1.40 | 0.78 | 0.77 | 0.49 | 0.61 | 0.54 | 1.05 | 1.55 | 1.38 | 1.67 | 0.34 | 0.28 | 0.29 | 0.19 | 0.18 | 0.05 |
| Total Current Assets | 84.67 | 16.81 | 28.53 | 31.05 | 30.77 | 4.83 | 3.87 | 3.37 | 5.05 | 7.07 | 11.91 | 19.92 | 15.63 | 12.53 | 12.18 | 13.45 | 7.15 |
| Property, Plant & Equipment | 7.31 | 5.45 | 3.46 | 3.52 | 3.65 | 3.54 | 3.77 | 4.18 | 4.91 | 5.47 | 5.75 | 0.83 | 0.41 | 0.36 | 0.39 | 0.08 | 0.05 |
| Intangible Assets | 0.30 | 0.34 | 0.47 | 0.51 | 0.54 | 0.61 | 0.65 | 0.68 | 0.75 | 0.79 | 0.75 | 0.21 | 0.21 | 0.21 | -- | -- | -- |
| Total Non-current Assets* | 15.40 | 88.70 | 127.53 | 110.42 | 63.04 | 7.53 | 7.53 | 7.94 | 7.56 | 8.19 | 8.20 | 6.01 | 3.75 | 3.48 | 2.20 | 0.94 | 0.05 |
| Total Assets | 100.08 | 105.51 | 156.06 | 141.46 | 93.80 | 12.35 | 11.39 | 11.30 | 12.61 | 15.26 | 20.11 | 25.93 | 19.38 | 16.01 | 14.39 | 14.38 | 7.20 |
| Accounts Payable | 1.56 | 1.64 | 1.24 | 1.81 | 1.21 | 4.38 | 4.81 | 5.80 | 4.83 | 1.10 | 0.90 | 0.96 | 0.30 | 0.19 | 0.07 | 0.12 | 0.18 |
| Total Current Liabilities | 25.08 | 9.96 | 6.93 | 3.74 | 3.35 | 5.98 | 6.25 | 7.28 | 11.41 | 11.78 | 11.50 | 17.84 | 7.15 | 2.56 | 1.52 | 1.25 | 2.45 |
| Total Non-current Liabilities* | 2.43 | 0.98 | 1.18 | 1.27 | 0.78 | 1.20 | 1.31 | 1.44 | 0.00 | 0.00 | 0.38 | 0.16 | 0.31 | 0.27 | 0.48 | 0.54 | 0.03 |
| Total Liabilities | 27.50 | 10.93 | 8.11 | 5.01 | 4.12 | 7.18 | 7.56 | 8.71 | 11.41 | 11.78 | 11.88 | 18.00 | 7.46 | 2.82 | 2.00 | 1.79 | 2.48 |
| Retained Earnings | (196.70) | (173.83) | (101.45) | (94.48) | (102.62) | (79.19) | (77.19) | (71.30) | (61.09) | (55.53) | (49.20) | (38.23) | (32.55) | (27.29) | (19.08) | (15.99) | (12.96) |
| Total Stockholder Equity | 72.57 | 94.58 | 147.96 | 136.45 | 89.68 | 5.17 | 3.84 | 2.59 | 1.20 | 3.47 | 8.23 | 7.93 | 11.92 | 13.19 | 12.39 | 12.59 | 4.72 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Total Revenue | 2.08 | 4.85 | 2.86 | 6.88 | 3.97 | 2.45 | 3.37 | 3.19 | 2.43 | 1.75 | 2.33 | 3.04 | 2.70 | 1.76 | 1.81 | 1.39 | 0.59 | 0.20 | 0.77 | 0.60 |
| Cost of Revenue | 2.72 | 3.43 | 3.64 | 6.26 | 3.26 | 2.24 | 1.23 | 0.93 | 1.86 | 1.24 | 1.65 | 1.70 | 1.69 | 1.12 | 0.15 | 0.93 | 0.42 | 0.12 | 0.23 | 0.16 |
| Gross Profit | (0.64) | 1.42 | (0.78) | 0.63 | 0.71 | 0.21 | 2.14 | 2.26 | 0.57 | 0.51 | 0.68 | 1.34 | 1.00 | 0.64 | 1.66 | 0.46 | 0.16 | 0.08 | 0.53 | 0.45 |
| Research & Development | 2.99 | 1.77 | 3.55 | 2.32 | 2.44 | 2.45 | 1.25 | 1.23 | 1.31 | 0.95 | 1.76 | 1.64 | 1.41 | 1.39 | 1.19 | 1.07 | 1.00 | 0.72 | 0.70 | 0.48 |
| Selling, General & Admin | 6.31 | 6.53 | 7.29 | 6.26 | 6.94 | 7.20 | 4.44 | 2.74 | 4.59 | 4.21 | 3.98 | 4.79 | 5.59 | 5.52 | 4.46 | 4.35 | 4.33 | 3.53 | 3.84 | 3.10 |
| Total Operating Expenses | 10.57 | 8.80 | 14.59 | 9.37 | 10.16 | 9.65 | 5.68 | 3.97 | 5.90 | 5.17 | 5.74 | 6.43 | 7.00 | 6.90 | 5.65 | 5.42 | 5.33 | 4.26 | 4.55 | 3.59 |
| Operating Income | (11.20) | (7.39) | (15.37) | (8.74) | (9.45) | (9.44) | (3.54) | (1.71) | (5.33) | (4.66) | (5.06) | (5.10) | (6.00) | (6.26) | (3.99) | (4.96) | (5.16) | (4.18) | (4.01) | (3.14) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 0.19 | 0.18 | 0.20 | 0.16 | -- | -- | -- | -- | -- | -- |
| Net Income | (21.97) | (28.12) | (44.26) | (6.97) | 8.14 | (18.81) | (4.62) | (2.00) | (5.89) | (5.01) | (5.19) | (5.56) | (6.33) | (6.60) | (4.46) | (5.59) | (5.25) | (4.14) | (4.07) | (3.10) |
| Basic EPS | (0.47) | (0.61) | (1.54) | (0.17) | 0.22 | (0.07) | (0.01) | (0.01) | (0.03) | (0.04) | (0.04) | (0.05) | (0.05) | (0.06) | (0.04) | (0.05) | (0.05) | (0.04) | (0.04) | -- |
| Diluted EPS | (0.47) | (0.61) | (1.54) | (0.17) | 0.22 | (0.07) | (0.01) | (0.01) | (0.03) | (0.04) | (0.04) | (0.05) | (0.05) | (0.06) | (0.04) | (0.05) | (0.05) | (0.04) | (0.04) | -- |
Cash Flow Statement
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Operating Cash Flow | (8.99) | (8.70) | (13.84) | (9.32) | (11.95) | (9.77) | (4.84) | (3.30) | (5.29) | (3.91) | (1.07) | (1.03) | (5.10) | (4.76) | (3.99) | (4.36) | (4.44) | (4.57) | (1.41) | (1.31) |
| Capital Expenditures | 0.22 | 0.17 | 2.40 | 0.25 | 0.21 | 0.12 | 0.39 | 0.05 | 0.12 | 0.01 | 0.03 | 0.04 | (0.11) | 0.30 | 2.11 | 0.46 | 0.10 | 0.02 | 0.03 | 0.32 |
| Free Cash Flow* | (9.21) | (8.88) | (16.25) | (9.57) | (12.16) | (9.89) | (5.23) | (3.35) | (5.41) | (3.92) | (1.10) | (1.08) | (4.99) | (5.06) | (6.10) | (4.81) | (4.53) | (4.60) | (1.44) | (1.63) |
| Investing Cash Flow | (0.58) | (1.54) | (3.58) | (11.86) | (28.92) | (44.72) | (21.39) | (0.05) | (0.15) | (0.01) | (0.05) | (0.10) | (0.54) | (0.36) | (1.88) | (2.23) | (0.30) | (0.25) | (1.35) | (1.35) |
| Financing Cash Flow | 14.96 | 4.62 | 10.14 | 21.20 | 36.99 | 49.11 | 55.15 | 3.24 | 5.66 | 3.52 | 1.15 | 0.98 | (0.23) | 1.97 | 0.03 | 9.76 | 7.59 | 0.09 | 6.63 | 1.49 |
* Derived from reported values
