Kulr Technology Financials
This page shows Kulr Technology (KULR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Kulr Technology has an operating margin of -141.9%, meaning the company retains $-142 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -228.0% the prior year.
Kulr Technology's revenue grew 9.2% year-over-year to $10.7M, a solid pace of expansion. This earns a growth score of 55/100.
Kulr Technology carries a low D/E ratio of 0.10, meaning only $0.10 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 7.32, Kulr Technology holds $7.32 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While Kulr Technology generated -$17.3M in operating cash flow, capex of $573K consumed most of it, leaving -$17.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Kulr Technology passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Kulr Technology generates $0.99 in operating cash flow (-$17.3M OCF vs -$17.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Kulr Technology earns $-72.6 in operating income for every $1 of interest expense (-$15.2M vs $210K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Kulr Technology generated $10.7M in revenue in fiscal year 2024. This represents an increase of 9.2% from the prior year.
Kulr Technology's EBITDA was -$13.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 33.5% from the prior year.
Kulr Technology generated -$17.9M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 46.5% from the prior year.
Kulr Technology reported -$17.5M in net income in fiscal year 2024. This represents an increase of 26.0% from the prior year.
Kulr Technology earned $-0.09 per diluted share (EPS) in fiscal year 2024. This represents an increase of 55.0% from the prior year.
Kulr Technology held $29.8M in cash against $0 in long-term debt as of fiscal year 2024.
Kulr Technology had 33M shares outstanding in fiscal year 2024. This represents a decrease of 75.3% from the prior year.
Kulr Technology's gross margin was 51.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 13.8 percentage points from the prior year.
Kulr Technology's operating margin was -141.9% in fiscal year 2024, reflecting core business profitability. This is up 86.1 percentage points from the prior year.
Kulr Technology's net profit margin was -163.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 77.8 percentage points from the prior year.
Kulr Technology invested $4.7M in research and development in fiscal year 2024. This represents a decrease of 33.6% from the prior year.
Kulr Technology spent $500K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 118.1% from the prior year.
Kulr Technology invested $573K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 115.5% from the prior year.
KULR Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.9M+73.3% | $4.0M+62.3% | $2.4M-27.4% | $3.4M+38.6% | $2.4M+39.0% | $1.7M-25.1% | $2.3M-23.3% | $3.0M |
| Cost of Revenue | $6.3M+91.9% | $3.3M+45.4% | $2.2M+82.6% | $1.2M-33.9% | $1.9M+50.2% | $1.2M-25.0% | $1.7M-3.1% | $1.7M |
| Gross Profit | $629K-11.9% | $714K+245.9% | $206K-90.4% | $2.1M+274.1% | $573K+12.1% | $511K-25.2% | $683K-48.9% | $1.3M |
| R&D Expenses | $2.3M-4.7% | $2.4M-0.5% | $2.4M+96.6% | $1.2M-4.5% | $1.3M+36.7% | $955K-39.8% | $1.6M-13.0% | $1.8M |
| SG&A Expenses | $6.3M-9.8% | $6.9M-3.6% | $7.2M+62.3% | $4.4M-3.4% | $4.6M+9.1% | $4.2M+3.4% | $4.1M-11.7% | $4.6M |
| Operating Income | -$8.7M+7.5% | -$9.5M-0.1% | -$9.4M-166.7% | -$3.5M+33.5% | -$5.3M-14.4% | -$4.7M+6.4% | -$5.0M+2.4% | -$5.1M |
| Interest Expense | $135K+6274.3% | $2K-79.6% | $10K-29.2% | $15K-56.2% | $34K-74.7% | $133K-23.0% | $172K-6.6% | $185K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$7.0M-185.7% | $8.1M+143.3% | -$18.8M-307.0% | -$4.6M+21.6% | -$5.9M-17.6% | -$5.0M+3.6% | -$5.2M+6.6% | -$5.6M |
| EPS (Diluted) | $-0.17-177.3% | $0.22 | $-0.07 | $0.29 | $-0.26-550.0% | $-0.040.0% | $-0.04+20.0% | $-0.05 |
KULR Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $156.1M+10.3% | $141.5M+50.8% | $93.8M+49.1% | $62.9M+452.4% | $11.4M+0.8% | $11.3M+4.0% | $10.9M-13.8% | $12.6M |
| Current Assets | $28.5M-8.1% | $31.0M+0.9% | $30.8M-9.9% | $34.2M+783.7% | $3.9M+14.8% | $3.4M-13.7% | $3.9M-22.7% | $5.1M |
| Cash & Equivalents | $20.6M+0.1% | $20.6M-15.9% | $24.4M-18.0% | $29.8M+2833.5% | $1.0M+27.3% | $799K-33.1% | $1.2M+2.4% | $1.2M |
| Inventory | $785K+1.6% | $772K+58.9% | $486K-10.9% | $545K+1.9% | $535K-49.1% | $1.1M-8.4% | $1.1M-25.9% | $1.6M |
| Accounts Receivable | $3.0M-23.6% | $3.9M+31.6% | $2.9M+48.3% | $2.0M+3.0% | $1.9M+96.0% | $983K+9.1% | $902K-30.5% | $1.3M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $8.1M+61.7% | $5.0M+21.5% | $4.1M-25.0% | $5.5M-27.2% | $7.6M-13.3% | $8.7M-33.2% | $13.0M+14.4% | $11.4M |
| Current Liabilities | $6.9M+85.1% | $3.7M+11.8% | $3.3M-28.3% | $4.7M-25.3% | $6.2M-14.1% | $7.3M+5.5% | $6.9M-39.5% | $11.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $148.0M+8.4% | $136.4M+52.2% | $89.7M+56.2% | $57.4M+1397.4% | $3.8M+48.1% | $2.6M+218.6% | -$2.2M-281.9% | $1.2M |
| Retained Earnings | -$101.4M-7.4% | -$94.5M+7.9% | -$102.6M-22.4% | -$83.8M-8.6% | -$77.2M-8.3% | -$71.3M-7.6% | -$66.3M-8.5% | -$61.1M |
KULR Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.3M+22.0% | -$11.9M-22.3% | -$9.8M-101.8% | -$4.8M+8.5% | -$5.3M-35.4% | -$3.9M-264.4% | -$1.1M-3.7% | -$1.0M |
| Capital Expenditures | $247K+15.2% | $214K+78.3% | $120K-68.8% | $385K+215.8% | $122K+810.2% | $13K-53.1% | $29K-36.5% | $45K |
| Free Cash Flow | -$9.6M+21.4% | -$12.2M-23.0% | -$9.9M-89.2% | -$5.2M+3.4% | -$5.4M-38.1% | -$3.9M-256.1% | -$1.1M-2.0% | -$1.1M |
| Investing Cash Flow | -$11.9M+59.0% | -$28.9M+35.3% | -$44.7M-109.1% | -$21.4M-14192.7% | -$150K-1016.6% | -$13K+74.4% | -$52K+46.9% | -$99K |
| Financing Cash Flow | $21.2M-42.7% | $37.0M-24.7% | $49.1M-11.0% | $55.1M+874.5% | $5.7M+60.5% | $3.5M+205.9% | $1.2M+17.6% | $980K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
KULR Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.1%-8.8pp | 18.0%+9.5pp | 8.4%-55.1pp | 63.6%+40.0pp | 23.5%-5.6pp | 29.2%-0.1pp | 29.3%-14.7pp | 44.0% |
| Operating Margin | -126.9%+111.0pp | -237.9%+147.8pp | -385.7%-280.6pp | -105.0%+114.0pp | -219.0%+47.2pp | -266.2%-53.1pp | -213.1%-45.5pp | -167.6% |
| Net Margin | -101.3%-306.2pp | 204.9%+973.0pp | -768.1%-631.0pp | -137.1%+105.1pp | -242.2%+44.2pp | -286.4%-63.8pp | -222.5%-39.6pp | -182.9% |
| Return on Equity | N/A | 6.0% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -4.5%-10.2pp | 5.8%+25.8pp | -20.1%-12.7pp | -7.3%+44.4pp | -51.7%-7.4pp | -44.3%+3.5pp | -47.8%-3.7pp | -44.1% |
| Current Ratio | 4.12-4.2 | 8.29-0.9 | 9.19+1.9 | 7.32+6.7 | 0.62+0.2 | 0.46-0.1 | 0.57+0.1 | 0.44 |
| Debt-to-Equity | 0.05+0.0 | 0.040.0 | 0.05-0.0 | 0.10-1.9 | 1.97-1.4 | 3.37+9.3 | -5.98-15.5 | 9.50 |
| FCF Margin | -138.9%+167.2pp | -306.2%+97.8pp | -404.0%-248.9pp | -155.1%+67.5pp | -222.6%+1.6pp | -224.2%-177.0pp | -47.2%-11.7pp | -35.5% |
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Frequently Asked Questions
What is Kulr Technology's annual revenue?
Kulr Technology (KULR) reported $10.7M in total revenue for fiscal year 2024. This represents a 9.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Kulr Technology's revenue growing?
Kulr Technology (KULR) revenue grew by 9.2% year-over-year, from $9.8M to $10.7M in fiscal year 2024.
Is Kulr Technology profitable?
No, Kulr Technology (KULR) reported a net income of -$17.5M in fiscal year 2024, with a net profit margin of -163.2%.
What is Kulr Technology's earnings per share (EPS)?
Kulr Technology (KULR) reported diluted earnings per share of $-0.09 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Kulr Technology's EBITDA?
Kulr Technology (KULR) had EBITDA of -$13.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Kulr Technology's gross margin?
Kulr Technology (KULR) had a gross margin of 51.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Kulr Technology's operating margin?
Kulr Technology (KULR) had an operating margin of -141.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Kulr Technology's net profit margin?
Kulr Technology (KULR) had a net profit margin of -163.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Kulr Technology's free cash flow?
Kulr Technology (KULR) generated -$17.9M in free cash flow during fiscal year 2024. This represents a -46.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Kulr Technology's operating cash flow?
Kulr Technology (KULR) generated -$17.3M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Kulr Technology's total assets?
Kulr Technology (KULR) had $62.9M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Kulr Technology's capital expenditures?
Kulr Technology (KULR) invested $573K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Kulr Technology spend on research and development?
Kulr Technology (KULR) invested $4.7M in research and development during fiscal year 2024.
Does Kulr Technology buy back shares?
Yes, Kulr Technology (KULR) spent $500K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Kulr Technology have outstanding?
Kulr Technology (KULR) had 33M shares outstanding as of fiscal year 2024.
What is Kulr Technology's current ratio?
Kulr Technology (KULR) had a current ratio of 7.32 as of fiscal year 2024, which is generally considered healthy.
What is Kulr Technology's debt-to-equity ratio?
Kulr Technology (KULR) had a debt-to-equity ratio of 0.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kulr Technology's return on assets (ROA)?
Kulr Technology (KULR) had a return on assets of -27.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Kulr Technology's cash runway?
Based on fiscal year 2024 data, Kulr Technology (KULR) had $29.8M in cash against an annual operating cash burn of $17.3M. This gives an estimated cash runway of approximately 21 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Kulr Technology's Piotroski F-Score?
Kulr Technology (KULR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kulr Technology's earnings high quality?
Kulr Technology (KULR) has an earnings quality ratio of 0.99x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Kulr Technology cover its interest payments?
Kulr Technology (KULR) has an interest coverage ratio of -72.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Kulr Technology?
Kulr Technology (KULR) scores 51 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.