HOUSTON, May 14, 2026 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (NYSE:KULR) (the "Company" or "KULR"), an energy-systems platform company that enables the safe, certifiable deployment of ultra-high-power lithium battery systems for space and defense programs, mobility applications, hyperscale AI data centers, and telecom infrastructure OEMs, today announced its financial results for the first quarter 2026.

First Quarter 2026 Financial Results:

Revenues: Revenue increased 98% to $4,846,430 in the first quarter ended March 31, 2026, from $2,448,606 reported in the same year-ago period.

Gross Margins: Gross margin was 29% in the first quarter ended March 31, 2026, compared to 8% in the same year-ago period.

Selling, General and Administrative (SG&A) Expenses: SG&A expenses decreased 9% to $6,531,969 in the first quarter ended March 31, 2026, from $7,200,250 reported in the same year-ago period.

R&D expenses: R&D expenses decreased 28% to $1,770,500 in the first quarter ended March 31, 2026, from $2,449,900 in the same year-ago period.

Operating Loss: Loss from operations decreased 22% to $7,385,177 in the first quarter ended March 31, 2026, compared to $9,443,805 reported in the same year-ago period.

Net Loss: Net loss for the first quarter of 2026 increased to $28,119,844, or a net loss of $0.61 per share, compared to a net loss of $18,806,658, or a net loss of $0.54 per share from the same period last year. Higher net loss in the first quarter of 2026 was primarily driven by a $20,767,713 mark-to-market loss associated with the ...