KULR Technology Group announced its financial results for the fourth quarter and full-year 2024, reporting record revenue for both periods. Fourth-quarter revenue increased by 44% to $3.37 million compared to the same period in the prior year.
For the full year 2024, KULR achieved record revenue of $10.74 million, representing a 9% increase over 2023. The full-year gross margin also improved significantly, reaching 51% compared to 37% in 2023, benefiting from higher-margin service and licensing revenue.
The company's operating loss for the fourth quarter decreased by 29% to $3.54 million from the prior year. As of March 31, 2025, KULR maintained a strong liquidity position with $24.45 million in cash and $55.28 million in digital assets (Bitcoin), with no material financial debt.
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