On August 13, 2026, KULR Technology
Group, Inc. (the “Company”) issued a press release announcing certain financial results for the second quarter ended June
30, 2026. A copy of the press release is incorporated herein by reference and is furnished as Exhibit 99.1.
The information under this
Item 2.02 is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information
be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or
the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
The following exhibits are being furnished as part of this Current
Report on Form 8-K.
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf of the undersigned hereunto
duly authorized.
Exhibit 99.1
KULR Technology
Group Reports Second Quarter 2026 Financial Results
HOUSTON / GLOBENEWSWIRE / August 13, 2026
/ KULR Technology Group, Inc. (NYSE American: KULR) (the "Company" or "KULR"), a developer of safe, high-power
energy systems that enable physical AI across space, defense, drones, data centers, robotics, and other mission-critical applications,
today announced its financial results for the second quarter 2026.
Second Quarter 2026 Financial Results:
Revenues: Revenue decreased 43% to $2,080,177
in the second quarter ended June 30, 2026, from $3,652,471 reported in the same year-ago period.
Gross Margins: Gross margin was (31)% in the second
quarter ended June 30, 2026, compared to 20% in the same year-ago period.
Selling, General and Administrative (SG&A)
Expenses: SG&A expenses decreased 9% to $6,307,097 in the second quarter ended June 30, 2026, from $6,941,599 reported in the same
year-ago period.
R&D Expenses: R&D expenses increased 23%
to $2,985,659 in the second quarter ended June 30, 2026, from $2,436,754 in the same year-ago period.
Operating Loss: Loss from operations increased
19% to $11,204,578 in the second quarter ended June 30, 2026, compared to $9,451,040 reported in the same year-ago period.
Net Loss: Net loss for the second quarter of 2026
was $21,970,816, or a net loss of $0.47 per share, compared to net income of $8,142,149, or net income of $0.22 per share from the year-ago
period. The net loss in the second quarter of 2026 was primarily driven by a $10,591,667 change in fair value loss associated with the
Company’s bitcoin holdings.
Management Commentary
KULR Chief Financial Officer Mike Kimel commented,
“During the second quarter of 2026, we continued sharpening our focus on KULR’s core energy platform and simplifying the business
around our highest-priority growth opportunities. The Bitcoin treasury strategy provided meaningful financial flexibility, but its volatility
also had a significant impact on our reported results, including approximately $10.6 million of non-cash change in fair value losses,
making the underlying performance of our battery business more difficult for shareholders to assess. Since quarter-end, we have exited
Bitcoin mining, repaid the Coinbase loan in full, and begun reducing our Bitcoin holdings in a deliberate and disciplined manner. These
actions are designed to reduce balance-sheet volatility, improve financial visibility, and allow us to concentrate our capital and execution
on scaling the core business while maintaining a disciplined approach to shareholder dilution. Importantly, we did not issue any shares
through the ATM during the first half of 2026.”
The Company reported a cash balance of $12.8 million
as of June 30, 2026.
KULR Technology Group Second Quarter 2026 Earnings
Call
Date: Thursday, August 13th,
2026
Time: 4:30 p.m. Eastern time (1:30 p.m.
Pacific time)
To access the call, please register using the
following link: KULR Second Quarter 2026 Earnings Call. After registering, an email will be sent, including dial-in details and
a unique conference call access code and PIN required to join the live call. The conference call will be available for replay here
via the Investor Relations section on KULR’s website (www.kulr.ai).
Safe Harbor Statement
This release contains certain forward-looking
statements based on our current expectations, intentions and assumptions that involve risks and uncertainties. Forward-looking statements
in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated
or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors
disclosed in our Form 10-K filed with the Securities and Exchange Commission on March 31, 2026, as may be amended or supplemented by other
reports we file with the Securities and Exchange Commission from time to time. Forward-looking statements include statements regarding
our 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 in this release are based
on information available at this time, and management expects that internal expectations may change over time. These statements are not
guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results
to differ materially from those expressed or implied by such forward-looking statements. Except as otherwise required by applicable law,
we assume no obligation to update the information included in this press release, whether as a result of new information, future events
or otherwise.
About KULR Technology Group, Inc.
KULR Technology Group, Inc. (NYSE American: KULR)
is an energy-systems platform company that designs and manufactures safe, high-power battery solutions for physical AI and other mission-critical
applications. Its KULR ONE® platform integrates advanced battery architecture, thermal management, safety engineering, battery management
systems, and power electronics to serve space and defense, drones and electric aviation, AI data-center backup, robotics, and Energy-as-a-Service
markets. Based in Webster, Texas, KULR is scaling domestic production to support the growing energy demands of physical AI and autonomous
systems. Learn more at KULR.ai.
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Investor Relations:
KULR Technology Group, Inc.
Email: ir@kulr.ai
