KULR Technology Group, Inc. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Context: The company reported a challenging quarter with revenue missing expectations due to supply chain, execution, and capacity issues. Management emphasized focus on core battery business (KULR ONE) for physical AI markets like drones, defense, and space. No excuses were made for underperformance; actions include exiting Bitcoin activities and streamlining operations. Comparisons below reference H1 2025 and Q2 2025 where noted.

Revenue Performance

  • Q2 2026 Revenue: $2.1 million — significantly down from both Q1 2026 and Q2 2025 (exact prior-year figure not specified, but described as a sharp decline).
  • H1 2026 Total Revenue: $6.03 million vs. $6.1 million in H1 2025 (slight underperformance year-over-year).
  • Energy Management Platform (Core Business): $4.76 million in H1 2026 vs. $4.73 million in the prior-year period (essentially stable, +0.6% YoY).
  • Q2 Product Sales: Driven by two large orders from new customers with new battery configurations, indicating broadening demand despite overall decline.
  • Gross Margin: Gross loss in Q2 2026 (specific figure not provided); underperformance highlighted as a key shortfall versus expectations.

Key Challenges in Q2 2026

  • Supply chain bottlenecks from new parts and long lead times, delaying planned shipments.

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Stuart Smith: Welcome everyone to the KULR Technology Group Q2 2026 earnings call. In just a moment, I will be joined by the CEO of the company, Michael Mo, and the CFO of the company, Mike Kimel. Before we can get started, please listen to the following safe harbor statement covering this call. This call may contain certain forward-looking statements based on the company's current expectations, intentions, and assumptions that involve risks and uncertainties. Forward-looking statements made on this call are based on the information available to management as of the date hereof. KULR Technology Group's actual results may differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with their business, which include the risk factors disclosed in their Form 10-K filed with the Securities and Exchange Commission on March 31st, 2026, as may be amended or supplemented by other reports filed by the company with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding the company's expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as anticipate, believe, could, estimate, expect, intend, may, should, and would, or similar words. All such forward-looking statements that are provided by management on this call are based on information available at this time, and management expects that their inter

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