KULR Technology (KULR) financial statements
KULR Technology reported revenue of $16M in fiscal 2025, up 136.8% a year over 9 years.
Net income was -$62M and the operating margin -265.9%, against -11937.8% in 2016.
Free cash flow was -$48M, and the company returned $97,522 in net buybacks.
The diluted share count rose 639% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from KULR Technology's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6,900 | $235,584 | $1M | $830,398 | $623,965 | $2M | $4M | $10M | $11M | $16M |
| Cost of revenue | $7,749 | $156,609 | $336,654 | $226,505 | $187,903 | $1M | $2M | $6M | $5M | $15M |
| Gross profit | -$849 | $78,975 | $937,374 | $603,893 | $436,062 | $1M | $2M | $4M | $5M | $770,972 |
| Research and development | $29,404 | $361,231 | $508,144 | $502,225 | $289,772 | $2M | $4M | $7M | $5M | $11M |
| Selling, general and admin | $398,130 | $2M | $3M | $2M | $2M | $11M | $16M | $19M | $16M | $28M |
| Operating income | -$823,705 | -$2M | -$2M | -$2M | -$2M | -$12M | -$18M | -$22M | -$15M | -$43M |
| Interest expense | $0 | $2,963 | — | — | — | — | $282,054 | $718,420 | $209,817 | $159,944 |
| Pre-tax income | -$821,528 | -$2M | — | — | — | — | — | — | -$18M | -$62M |
| Income tax | $800 | $800 | $0 | $0 | $0 | $0 | — | — | — | — |
| Net income | -$822,328 | -$2M | -$2M | -$2M | -$3M | -$12M | -$19M | -$24M | -$18M | -$62M |
| EPS (diluted) | -$0.16 | -$0.32 | -$0.24 | -$0.16 | -$0.24 | -$1.20 | -$1.44 | -$1.60 | -$0.75 | -$1.56 |
| Diluted shares | 5M | 8M | 10M | 10M | 10M | 12M | 13M | 15M | 23M | 40M |
| Gross margin | -12.3% | 33.5% | 73.6% | 72.7% | 69.9% | 54.3% | 59.2% | 37.3% | 51.1% | 4.8% |
| Operating margin | -11937.8% | -1024.5% | -163.4% | -238.4% | -375.1% | -477.2% | -457.8% | -228.0% | -141.9% | -265.9% |
| Net margin | -11917.8% | -1029.1% | -161.6% | -238.4% | -456.8% | -493.7% | -486.6% | -241.0% | -163.2% | -382.8% |
Balance sheet
Fiscal years, from KULR Technology's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $9,087 | $895,761 | $229,896 | $108,857 | $9M | $15M | $10M | $1M | $30M | $13M |
| Receivables | — | — | — | — | — | — | — | $901,672 | $3M | $2M |
| Inventory | $12,932 | $13,767 | $9,594 | $27,091 | $55,452 | $191,311 | $2M | $1M | $545,467 | $581,156 |
| Total current assets | $164,063 | $1M | $406,316 | $209,250 | $9M | $16M | $16M | $4M | $34M | $26M |
| Property, plant and equipment | $462 | $43,493 | $44,791 | $27,516 | $57,857 | $374,475 | $3M | $5M | $4M | $5M |
| Total assets | $164,525 | $1M | $451,107 | $236,766 | $9M | $19M | $24M | $11M | $63M | $129M |
| Total current liabilities | $431,686 | $480,310 | $576,244 | $1M | $3M | $2M | $10M | $7M | $5M | $6M |
| Total liabilities | $237,494 | $480,310 | $576,244 | $1M | $3M | $3M | $13M | $13M | $5M | $7M |
| Shareholders' equity | -$267,161 | $739,706 | -$125,137 | -$796,965 | $6M | $16M | $10M | -$2M | $57M | $122M |
| Net debt | -$9,087 | -$895,761 | -$229,896 | -$108,857 | -$9M | -$15M | -$10M | -$1M | -$30M | -$13M |
Cash flow
Fiscal years, from KULR Technology's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$594,666 | -$1M | -$1M | -$1M | -$3M | -$7M | -$17M | -$12M | -$17M | -$45M |
| Capital spending | $0 | $51,828 | $16,609 | $0 | $46,087 | $383,285 | $3M | $266,150 | $573,444 | $3M |
| Free cash flow | -$594,666 | -$1M | -$1M | -$1M | -$3M | -$7M | -$20M | -$12M | -$18M | -$48M |
| Stock-based compensation | $35,915 | $598,204 | $457,713 | $220,625 | $343,854 | $4M | $4M | $4M | $3M | $7M |
| Share buybacks (net) | — | — | — | — | — | — | — | -$229,249 | -$500,000 | -$97,522 |
| Net borrowing | — | — | — | — | $155,226 | — | — | — | — | — |
| Free cash flow margin | -8618.3% | -448.9% | -108.0% | -143.1% | -445.0% | -297.9% | -501.6% | -124.4% | -166.8% | -296.0% |
Questions
What was KULR Technology's revenue in 2025?
$16M in fiscal 2025, from its 10-K filing.
How much free cash flow does KULR Technology generate?
-$48M in fiscal 2025 (operating cash flow minus capital spending).
From KULR Technology's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.