Author: Ravi Shankar

Rob Sutton, Head of Braiin AI and Robotics, to lead sessions on counter-UAS, sovereign robotics capability and critical infrastructure protection, featuring a keynote by Brigadier Grant Chambers, Director General Joint Warfare

GOLD COAST, Australia, Nov. 10, 2026 (GLOBE NEWSWIRE) — Braiin Limited (NASDAQ:BRAI) (“Braiin” or the “Company”), a global AI platform company delivering automation and predictive analytics across precision agriculture, customer experience and property technology, announces that Braiin is the presenting partner of the Defence Robotics & Counter-UAS Congress at Global Drone 2026, taking place from November 11 to 13, 2026, at Cbus Super Stadium on the Gold Coast, Queensland, Australia.

About Global Drone 2026

Global Drone^® is positioned as the global meeting place for autonomous innovation, bringing together drones, robotics, artificial intelligence, autonomous systems and Advanced Air Mobility under one roof. Over three days, Cbus Super Stadium is transformed into an international expo of more than 200 commercial exhibitors, a live “Drone Zone” with demonstrations across air, land and water, daily keynote luncheons with industry and government leaders, and the Global Drone Congress, which runs six industry streams: Advanced Air Mobility; Agri-Business; Defence Robotics & Counter-UAS; Technology, Ecology, Conservation & Natural Disaster Response; Entertainment & Sport, with Mining, Construction & Asset Management; and Future Invest. The event is expected to attract 15,000 attendees from around the world, and is supported by the City of Gold Coast through Invest Gold Coast.

• Wednesday, November 11: Advanced Air Mobility and Agri-Business congresses, covering AAM pilot training, OEMs and airline operators, and drones in agriculture.
• Thursday, November 12: Defence Robotics & Counter-UAS Congress presented by Braiin, alongside the Technology, Ecology, Conservation & Natural Disaster Response congress.
• Friday, November 13: Future Invest pitch tracks for autonomous-technology founders, Entertainment & Sport and Mining, Construction & Asset Management sessions, and Future Careers Day connecting students with industry.

Further information and the full program are available at www.globaldroneshow.com.

Braiin Presents the Defence Robotics & Counter-UAS Congress at Global Drone 2026

• Date: November 12, 2026
• Location: Cbus Super Stadium, Gold Coast, Queensland, Australia
• Stream: Defence Robotics & Counter-UAS Congress (Room 1)
• Program: www.globaldroneshow.com/program

The Congress opens with a keynote address by Brigadier Grant Chambers, Director General Joint Warfare, Australian Defence Force, followed by a Q&A led by Rob Sutton, Head of Braiin AI and Robotics, and a panel with Neil Hart, Strategic Advisor, Defence, Air & Space, Queensland Government, on defence robotics, uncrewed systems, counter-UAS and the protection of critical infrastructure and national security.

Mr. Sutton will also moderate a founders’ panel on what is required to enable a sovereign RAS capability in Australia, with the founders of Ichor Autonomy and Skyborne Technologies, Beaten Zone Venture Partners and AutogenAI, and will close the day moderating a panel on what it will take to protect Australia’s critical infrastructure ahead of the Brisbane 2032 Olympic and Paralympic Games, with Des Lacy OAM, Head of Security, Brisbane 2032; Superintendent Paul Hart, Queensland Police Service Commander and Program Manager, Brisbane 2032; and DroneShield. A further session presented by Braiin on international collaboration brings together Invest Gold Coast, Trade and Investment Queensland, the High Commission of Canada and the Ambassador of Ukraine to Australia and New Zealand.

Mr. Sutton is a former Australian Army aviation engineer who has worked on the Army’s uncrewed aircraft programs since 2008, when a deployment to Afghanistan first exposed him to the operational potential of drones. He has since helped the Australian Army implement five drone programs and advised defence, government, mining and agriculture clients on the strategy, regulation, airspace approvals and operation of autonomous systems. He is a Fellow and Chartered Professional Engineer of Engineers Australia, a Registered Professional Engineer of Queensland and a Certified Practicing Project Director.

“Counter-UAS and sovereign autonomous capability have moved from the margins of defence planning to its centre,” said Rob Sutton, Head of Braiin AI and Robotics. “Global Drone brings together the Australian Defence Force, state government, industry founders and international partners in one room. Presenting the Defence Robotics & Counter-UAS Congress reflects the role Braiin plays in helping defence and critical-infrastructure operators adopt uncrewed systems safely and at scale.”

“This gives Braiin a direct line into Australia’s defence and critical-infrastructure market for autonomous systems,” said Natraj Balasubramanian, Chief Executive Officer of Braiin. “Combined with our AI platform and our agricultural drone capability, it positions the Company across the full spectrum of uncrewed-systems applications, from farming to defence and security. In August this year Braiin filed ten defence-technology-related copyright applications with the US Copyright Office, which are currently pending registration, underlining the depth of our commitment to this sector.”

About Braiin Limited

Braiin Limited (NASDAQ:BRAI) is a global technology platform operating across AI, agritech, customer experience solutions, PropTech, and living infrastructure. Braiin’s ecosystem combines embedded distribution, intelligent automation, and recurring revenue platforms designed to support the lifecycle of the home and connected consumer services. For more information, visit www.braiin.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included herein, including but not limited to such things as future business strategy, plans, and goals, and the expansion and growth of our business. The words “estimate”, “plan”, “anticipate”, “expect”, “intend”, “believe”, “target”, “budget”, “may”, “can”, “will”, “would”, “could”, “should”, “seeks”, or “scheduled to” and similar words or expressions, or negatives of these terms or other variations of these terms or comparable language or any discussion of strategy or intention identify forward-looking statements. Please see the risk factors included in the Company’s United States Securities and Exchange Commission filings, which could cause actual results and events to differ materially from those contained in the forward-looking statements. You are cautioned against attributing undue certainty to forward-looking statements. Although these forward-looking statements were based on assumptions that the Company believes are reasonable when made, you are cautioned that forward-looking statements are not guarantees of future performance and that actual results, performance, or achievements may differ materially from those made in or suggested by the forward-looking statements in this press release. Any forward-looking statements made in this press release speak only as of the date of those statements. We undertake no obligation to update those statements or publicly announce the results of any revisions to any of those statements to reflect future events or developments.

Investor Relations Contact:
Mike Mason
CORE IR
(212) 655-0924
ir@braiin.com

Public Relations Contact:
Matthew Cossel
Core PR
(212) 655-0924
pr@braiin.com

• Share Repurchases Retire a Further 6.8% of Outstanding Shares Below Net Asset Value
• Cash Used in Operations Down 52% and G&A Expenses Down 24% Year over Year
• Balance Sheet Remains Debt-Free

SAN DIEGO, Nov. 10, 2026 (GLOBE NEWSWIRE) — Lite Strategy, Inc. (Nasdaq: LITS) (“Lite Strategy” or the “Company”), the first U.S. public company to adopt Litecoin (“LTC”) as its primary treasury reserve asset, today announced financial results for its fiscal 2027 first quarter ended September 30, 2026.

The first quarter of fiscal 2027 opened Lite Strategy’s second fiscal year operating under its Litecoin treasury strategy. With Litecoin appreciating 60% during the quarter, the Company reported net income of $16.0 million primarily associated with the remeasurement of its LTC treasury asset as of September 30, 2026, while further reducing shares outstanding during the quarter by 6.8% through its ongoing share repurchase program that continues to be funded solely by its active treasury operations.

“Our first quarter of fiscal 2027 showed what an actively managed Litecoin treasury can deliver,” said Jay File, CEO & CFO of Lite Strategy. “When we reported fiscal year 2026 results, we said this year would be about accretive buybacks, recurring yield and lower costs. In the first quarter, we repurchased another 2.2 million of our shares at a meaningful discount to net asset value, saw our covered call program continue to generate cash, significantly reduced general and administrative expenses and cut the cash used in our operations by more than half, all with a debt-free balance sheet. Every capital allocation decision we make is measured against whether we expect it to increase the value behind every share of LITS common stock. Looking ahead, our focus is on proving that a digital asset treasury and institutional-grade fiscal discipline can thrive together while selectively evaluating M&A and strategic opportunities that can expand our treasury operations and drive business development across the Litecoin ecosystem.”

Fiscal 2027 First Quarter and Recent Highlights

• Repurchased approximately 2.2 million LITS shares at an average price of $1.08 per share during the first fiscal quarter of 2027, consistently maintaining the discount to net asset value (NAV) in the low 20% range and bringing the percentage of aggregate shares repurchased since program commencement to September 30, 2026, to approximately 18%
• Premium proceeds of approximately $130,000 generated from covered call program during the current period, bringing cumulative proceeds of approximately $1.1 million in just over a year from program initiation
• Reduced general and administrative expenses 24% to $2.4 million and cut net cash used in operating activities 52% to $2.2 million versus the prior year comparative quarter
• Held 751,798 LTC with a fair value of $50.5 million at September 30, 2026, including 64,700 LTC pledged as collateral for covered call options
• Maintained a debt-free balance sheet, continuing to fund the share buyback program entirely through active treasury management operations

“Litecoin just marked fifteen years of continuous operation, and in that time the network has never stopped doing what it was built to do: move value quickly, cheaply and securely for anyone, anywhere,” said Charlie Lee, Lite Strategy Board Member and creator of Litecoin. “With regulators now recognizing Litecoin as a digital commodity, and LitVM bringing smart contracts to the network, Litecoin is evolving from a pure payment rail into a broader platform. Lite Strategy gives investors a direct way to take part in that growth, and I’m proud to support a company that is actively investing in the Litecoin ecosystem rather than simply holding the asset.”

Cash and Liquidity

At September 30, 2026, Lite Strategy held $4.3 million in cash and cash equivalents and $46.2 million in unrestricted digital assets, with total assets of $58.4 million and total liabilities of $1.7 million. The Company had no outstanding debt. Shares outstanding totaled 29,884,653 as of October 30, 2026. During October 2026, the Company repurchased 825,181 additional shares at a weighted-average price of $1.27 per share. Complete financial statements are available in the Company’s Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission.

Business Update and Continued Strategic Focus

Management’s primary objective remains focused on increasing the LTC backing behind every share of LITS common stock. With the active treasury program now established following its first 12-months of execution and while operating on a debt-free basis, the Company’s fiscal 2027 priorities focus on building operating activity around the Litecoin ecosystem, including through selective acquisitions and strategic partnerships, broadening its institutional investor base, and deploying capital only where it is accretive on a per-share basis. All three rest on institutional-grade custody, internal controls and SEC and Nasdaq compliance already established during our first year of operations as a digital asset treasury company.

The regulatory foundation for Litecoin continues to strengthen. The SEC’s March 2026 Digital Asset Interpretation identified LTC as a digital commodity rather than a security, and the CFTC confirmed it will continue to regulate LTC on that basis. In August 2026, the SEC built on that guidance by proposing Regulation Crypto Assets; its public comment period closed on October 20, 2026. Together, these actions give corporate treasuries, asset managers and other institutions a clearer basis for evaluating LTC exposure than they had a year ago. The Company continues to monitor legislative and regulatory developments.

Lite Strategy is also investing directly in the growth of the Litecoin ecosystem. The Company is the lead institutional investor in LitVM, the first zero-knowledge Layer-2 platform bringing smart contract capability to the Litecoin network, as LitVM advances toward its mainnet launch. LitVM is designed to extend Litecoin from a payment network into a programmable one, supporting decentralized finance, stablecoin issuance and tokenized assets, with LTC serving as the network’s native token. Broader use of Litecoin across these applications supports the long-term utility of the LTC held in the Company’s treasury.

For the remainder of fiscal 2027, management intends to expand its institutional investor relations program and continue building the case for LTC as an institutional asset. Management believes Lite Strategy is well positioned as one of the only pure-play, publicly traded vehicles offering investors liquid, regulated exposure to Litecoin’s growth, without the custody, security and operational complexity of holding the asset directly.

Pharmaceutical Assets
Lite Strategy continues pre-clinical evaluation of voruciclib, an oral CDK9 inhibitor, in non-oncology indications. Preliminary ex vivo study results showed modulation of immune cell subsets, supporting further development in animal models. The Company continues to assess out-licensing or sale opportunities for voruciclib and zandelisib as potential sources of non-dilutive capital.

About Lite Strategy
Lite Strategy Inc. (Nasdaq: LITS) is a San Diego-based digital asset treasury company that holds LTC as a primary reserve asset and pursues capital markets strategies designed to generate income from those holdings while retaining long-term exposure. Formerly MEI Pharma Inc., the Company adopted its Litecoin treasury strategy in 2025 to diversify reserves, enhance capital efficiency and align with emerging financial technologies. Lite Strategy also retains a portfolio of pharmaceutical assets that it is managing for out-licensing or sale. More information is available at www.litestrategy.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding LTC and its potential performance, the Company’s Litecoin treasury strategy, the share repurchase program, out-licensing, regulatory foundation, or sale of pharmaceutical assets and the sufficiency of the Company’s capital resources. These statements are subject to risks and uncertainties, including volatility in the price of LTC, the regulatory treatment of digital assets, the Company’s ability to maintain compliance with Nasdaq listing standards, potential dilution from outstanding warrants and options and the other risks described in the Company’s filings with the Securities and Exchange Commission. Actual results may differ materially. The Company undertakes no obligation to update any forward-looking statement except as required by law.

Contacts

Investor Relations:
Alliance Advisors IR
Adele Carey
SVP, Investor Relations
investor@litestrategy.com

Public Relations:
Impact3
Casey Wilson
Director of Public Relations
media@litestrategy.com

VANCOUVER, Washington, Nov. 10, 2026 (GLOBE NEWSWIRE) — CytoDyn Inc. (OTCQB: CYDY) (“CytoDyn” or the “Company”), a clinical-stage oncology company advancing leronlimab, a first-in-class humanized monoclonal antibody targeting the CCR5 receptor with therapeutic potential across multiple indications, including colorectal cancer (CRC) and metastatic triple-negative breast cancer (mTNBC), today announced that leronlimab will be evaluated in two new mTNBC regimens within the Quantum Leap Healthcare Collaborative’s (QLHC) PRE-I-SPY Phase 1-1b platform study, with enrollment expected to begin shortly.

The two studies will evaluate leronlimab in distinct immunotherapy-based combinations, each incorporating a PD-1 inhibitor. PRE5 will evaluate leronlimab alongside Merck’s pembrolizumab and the antibody-drug conjugate sacituzumab, while PRE7 will evaluate leronlimab in combination with Akeso’s penpulimab and the standard chemotherapy agents gemcitabine and carboplatin. Both studies are designed to assess safety and tolerability in earlier-line metastatic treatment settings while exploring preliminary signals of clinical activity.

“These studies represent an important opportunity to further investigate the potential of CCR5 inhibition as part of combination treatment strategies for patients with metastatic triple-negative breast cancer,” said Jacob Lalezari, M.D., Head of Research and Translational Sciences at CytoDyn. “By evaluating leronlimab alongside different immunotherapy-based regimens and incorporating exploratory biomarker analyses, we hope to gain a better understanding of its potential role in modulating the tumor microenvironment and informing future treatment approaches for patients with this aggressive disease.”

mTNBC is an aggressive form of breast cancer characterized by the absence of estrogen receptor, progesterone receptor, and HER2 expression, limiting the applicability of several targeted treatment approaches used in other breast cancer subtypes. The two Phase 1 studies will evaluate leronlimab in combination with established treatment regimens and will incorporate exploratory biomarker assessments, including circulating tumor DNA (ctDNA) and PD-L1 expression, to generate early insights that may help inform subsequent clinical development.

“There remains a need to better understand how novel combination strategies can improve treatment for patients with metastatic triple-negative breast cancer,” said Paula Pohlmann, M.D., Ph.D., of The University of Texas MD Anderson Cancer Center and principal investigator for both studies. “PRE-I-SPY allows us to evaluate safety while simultaneously examining biological markers that may provide an early indication of how these treatment combinations are affecting the disease.”

PRE-I-SPY Study Design and Patient Populations

Both studies will primarily evaluate the safety and tolerability of leronlimab-containing combinations while assessing preliminary signals of clinical activity and exploratory biomarkers, including ctDNA and PD-L1 expression as measured by combined positive score (CPS).

PRE5 will primarily enroll patients receiving first- or second-line treatment, while PRE7 will focus on patients receiving second-line treatment. Both studies will include patients with a CPS of less than 10.

Both study arms will use a de-escalation design that starts at the highest dose of leronlimab (700mg) and evaluates dose reductions based on a one-cycle, 21-day dose-limiting toxicity (DLT) observation period. Cohorts will include six patients each and are designed to potentially expand if no DLTs are observed in the first cohort.

PRE-I-SPY is a Phase 1 platform study designed to efficiently evaluate the safety and optimal dosing of new therapeutic agents and combinations for breast cancer. QLHC is the sponsor of the PRE-I-SPY platform study, while CytoDyn is providing leronlimab for evaluation in the two new regimens.

“An important goal of PRE-I-SPY is to identify promising therapeutic combinations with acceptable safety profiles that could potentially be evaluated in earlier-stage, high-risk breast cancer through the I-SPY 2.2 platform,” said Laura Esserman, M.D., Co-founder of QLHC and Principal Investigator of the I-SPY 2 platform.

Preparations are already underway for both studies, and enrollment for PRE5 is expected to begin in the first quarter of calendar 2027. Enrollment for PRE7 is likely to begin in the second or third quarter of calendar 2027. Additional information and updates on both studies will be provided in future Company communications.

About Quantum Leap Healthcare Collaborative

Quantum Leap Healthcare Collaborative (QLHC) is a 501c(3). It is a nonprofit pioneer that designs, implements, and succeeds at building and iterating creative and nimble solutions that drive meaningful results for patients. QLHC’s mission is to better serve patients by accelerating and innovating health care through approaches that challenge the status quo of science and care. QLHC’s efforts focus on achieving our long-term vision to improve human health for all through personalized medicine by bridging the gap between research and care. QLHC provides operational, financial, and regulatory oversight to I-SPY.

For more information, visit https://www.quantumleaphealth.org/.

About CytoDyn

CytoDyn is a clinical-stage oncology company dedicated to advancing leronlimab, a first-in-class humanized monoclonal antibody that targets the CCR5 receptor, a key regulator of immune function implicated in cancer, infectious diseases, and autoimmune disorders. Guided by a mission to improve patients’ quality of life through therapeutic innovation, CytoDyn is committed to integrity, responsibility, and service as it works to bring transformative treatments to patients worldwide.

For more information, please visit www.cytodyn.com and follow us on LinkedIn.

Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements relating to, among other things, mechanism of action, clinical development programs, clinical trial results, product development, market position, future operating and financial performance, and business strategy. The reader is cautioned not to rely on these statements, which are based on current expectations of future events. For important information about these statements and our Company, including the risks, uncertainties and other factors that could cause actual results to vary materially from the assumptions, expectations and projections expressed in any forward-looking statements, the reader should review our Annual Report on Form 10-K for the fiscal year ended May 31, 2026, including the section captioned “Forward-Looking Statements” and in Item 1A, as well as subsequent reports filed with the Securities and Exchange Commission. CytoDyn Inc. does not undertake to update any forward-looking statement as a result of new information or future events or developments except as required by applicable law.

Corporate Contact
CytoDyn Inc.
ir@cytodyn.com

Media Contacts
David Schull or Ignacio Guerrero-Ros, Ph.D.
Russo Partners, LLC
CytoDyn@russopartnersllc.com

CULVER CITY, Calif., Nov. 10, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, will hold a conference call and webcast on Thursday, November 12, 2026 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the third quarter ended September 30, 2026.

Snail Games management will host the conference call and webcast, followed by a question-and-answer period. Participants may listen to the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.com/.

About Snail, Inc.
Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.

Investor Contact:
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
SNAL@gateway-grp.com

Industry recognition highlights AmpliTech’s innovation in open, interoperable 5G radio access solutions

HAUPPAUGE, N.Y., Nov. 10, 2026 (GLOBE NEWSWIRE) — AmpliTech Group, Inc. (Nasdaq: AMPG) (the “Company”), a developer of advanced RF and microwave technologies and Open RAN radio solutions, today announced that it has been named Winner of the Open RAN Champion for Innovation at The Fast Mode Awards 2026 in the Telecoms Solution Provider category.

The award, announced by telecom industry publication The Fast Mode on November 3, 2026, recognizes AmpliTech’s achievements in the innovation dimension of Open RAN. Other recipients within the Open RAN Champion category include Capgemini for Performance, Rakuten Symphony for Impact and P.I. Works for Growth.

AmpliTech continues to develop an expanding portfolio of Open RAN radio solutions to support flexible, interoperable network deployments. Its work spans radio configurations for macro networks, enterprise and private 5G applications, with an emphasis on RF performance, multi-vendor interoperability and giving operators more choice in how they build next-generation wireless networks. AmpliTech plans to build on this recognition through continued radio innovation, ecosystem collaboration and engagement with network operators and systems integrators pursuing open, scalable 5G deployments.

Mr. Fawad Maqbool, CEO/CTO of AmpliTech Group, commented: “We are honored to receive the Open RAN Champion Innovation Award from The Fast Mode. This recognition reflects our team’s dedication to developing innovative, high-performance Open RAN solutions that address the evolving needs of wireless network operators worldwide. As the industry continues its transition toward open, interoperable, and flexible network architectures, AmpliTech remains committed to delivering American-engineered technology that supports the next generation of wireless connectivity. This award further underscores our growing industry recognition and the progress we are making in strengthening our brand, expanding our market presence, and positioning AmpliTech as a leading innovator in this strategically important growth market.”

As part of this recognition, AmpliTech Group has been invited to attend the official awards ceremony taking place in conjunction with The Fast Mode LiveX Kuala Lumpur 2027, scheduled for January 25–26, 2027, at the InterContinental Kuala Lumpur in Malaysia. The Company intends to participate in this international industry gathering and accept its Open RAN Champion, Innovation Award in person.

LiveX KL 2027 will bring together telecommunications operators, technology providers, and industry leaders to explore advancements in artificial intelligence, next-generation connectivity, and digital infrastructure. AmpliTech views its participation as an opportunity to further strengthen its global industry visibility, engage with potential customers and strategic partners, and reinforce its commitment to advancing Open RAN innovation worldwide.

About AmpliTech Group, Inc.:

AmpliTech Group, Inc. (NASDAQ: AMPG, AMPGW) designs, develops, and manufactures advanced RF and microwave signal-processing components and systems for satellite, 5G/6G telecom, quantum computing, defense, and space applications. Its five divisions, AmpliTech Inc., Specialty Microwave, Spectrum Semiconductor Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group 5G Divisions work symbiotically and serve customers worldwide. Through continuous innovation and U.S.-based manufacturing, AmpliTech is enabling the next generation of connectivity and communication systems. For further information, please visit www.amplitechgroup.com

About The Fast Mode:

The Fast Mode is an independent research and digital media publication delivering news, analysis, and insights covering the global telecommunications and technology industries. Founded in 2013, the publication focuses on emerging technologies and innovations in 5G/6G, Open RAN, artificial intelligence, cloud computing, network infrastructure, and digital services. Through its editorial coverage, industry research, and recognition programs, including The Fast Mode Awards, it highlights organizations and technologies helping shape the future of global connectivity. View the full list of winners announced by The Fast Mode organization on their Results Announcement page here: www.thefastmode.com/awards/2026-winners

For more information, visit www.thefastmode.com.

Safe Harbor Statements:

This release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the Company’s plans to advance its Open RAN portfolio, future innovation, interoperability activities, partnerships and potential market opportunities. Such statements involve risks and uncertainties, and actual results may differ materially from those anticipated. Factors that could cause differences include customer demand, product development and qualification, supply chain conditions, competition and other risks described in the Company’s filings with the SEC, including the “Risk Factors” sections. The Company undertakes no obligation to update forward-looking statements except as required by law.

Contacts:
Corporate Social Media
LinkedIn: AmpliTech Group, Inc.

Company Contact:
Jorge Flores
Tel: 631-521-7831
Investors@amplitechgroup.com

Revenue up 25% year-over-year and 21% sequentially, marking third consecutive quarter above $1 million

Higher-margin cartridge sales grew 32% year-over-year and 35% sequentially, representing 61% of total revenue

Gross profit margin expanded to 54.5%, up from 46.6% in the prior-year quarter

Company submitted its FDA 510(k) premarket notification during the quarter, a key step toward planned U.S. market entry

NEW YORK, Nov. 10, 2026 (GLOBE NEWSWIRE) — Intelligent Bio Solutions Inc. (Nasdaq: INBS) (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, today announced its financial results and operational highlights for the fiscal first quarter ended September 30, 2026.
“Fiscal first quarter revenue was the highest quarterly revenue in our Company’s history,” said Harry Simeonidis, President and CEO at Intelligent Bio Solutions. “Each reader draws on a recurring supply of higher-margin cartridges, which is driving most of our revenue growth. Our business continues to scale with improving unit economics, including expanding gross profit margins driven by manufacturing efficiencies and a higher share of revenue from higher-margin cartridge consumables.”

Mr. Simeonidis continued, “In September, we submitted our 510(k) premarket notification to the FDA for the Intelligent Fingerprinting Drug Screening System, the culmination of the clinical program we executed throughout 2026 and a key step toward our planned entry into the multi-billion-dollar U.S. drug screening market. Going forward, we will continue to invest in the clinical and regulatory work behind our 510(k) submission while maintaining discipline across the rest of the business.”

Product Revenue Breakdown

Three Months Ended September 30, 2026 (Q1 Fiscal 2027):

• Total revenue of $1.39 million, up 25% year-over-year and 21% sequentially
• Cartridge sales of $845,583, up 32% year-over-year and 35% sequentially, representing 61% of Q1 revenue
• Other sales of $281,253, up 52% year-over-year, representing 20% of Q1 revenue
• Gross profit of $758,004, up 46% year-over-year, with gross profit margin of 54.5%, up from 46.6% in the same period the year prior
• Cash and cash equivalents of $5.93 million at September 30, 2026, compared to $3.99 million at June 30, 2026

Fiscal First Quarter 2027 and Subsequent Highlights

• Record quarterly revenue: Revenue of $1,391,835 surpassed the Company’s prior quarterly record of $1,145,802, set in the fourth quarter of fiscal 2026, and marked the third consecutive quarter of sequential revenue growth and the third consecutive quarter above $1 million.
• Cartridge consumables driving growth: Cartridge sales accounted for 73% of the $280,038 year-over-year increase in total revenue and grew to 61% of quarterly revenue, up from 58% a year ago.
• Gross profit margin above 54%: Gross profit margin of 54.5% improved approximately 790 basis points year-over-year, reflecting manufacturing efficiencies and a growing share of higher-margin cartridge sales.
• FDA 510(k) submitted: On September 9, 2026, the Company submitted its 510(k) premarket notification to the FDA, seeking clearance of the Intelligent Fingerprinting Drug Screening System for detection of the opiate codeine. The submission included a method comparison study that demonstrated accuracy above 98%, sensitivity above 94%, and specificity of 100% across three independent U.S. clinical sites.
• 510(k) clinical program completed: During the quarter, the Company completed precision testing, interference, usability, and method comparison studies, and resolved all cybersecurity review items, finalizing the body of clinical evidence supporting its submission.
• ISO 13485:2016 recertification: The Company’s Intelligent Fingerprinting Drug Screening business was recertified to the ISO 13485:2016 quality management system standard by the British Standards Institution, supporting alignment with the FDA’s amended Quality Management System Regulation.
• Customer and installed base growth: 516 active customer accounts as of September 30, 2026, including 27 new accounts added during the quarter, with a reader installed base of 1,978 units.

The fiscal first quarter extended INBS’s consistent run of growth, with the installed base built through prior reader placements continuing to drive recurring, higher-margin cartridge demand. With its 510(k) submission complete, record quarterly revenue, and expanding gross profit margins, management believes the Company is well-positioned to continue its growth through fiscal 2027 as it pursues its planned entry into the multi-billion-dollar U.S. drug screening market.

About Intelligent Bio Solutions Inc. 

Intelligent Bio Solutions Inc. (Nasdaq: INBS) is a medical technology company delivering intelligent, rapid, non-invasive testing solutions. The Company believes that its Intelligent Fingerprinting Drug Testing Solution, comprising its portable, on-site Intelligent Fingerprinting Drug Screening System (“System”) and its Confirmatory Analysis Kit for back-to-lab testing, will revolutionize portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields. Designed as a fast, hygienic, and cost-effective solution, the System screens for the recent use of common drugs of abuse, including opiates, cocaine, methamphetamine, and cannabis. With sample collection in seconds and results in under ten minutes, this technology would be a valuable tool across workplace, law enforcement, and government settings. The Company’s current customer segments outside the U.S. include construction and engineering, manufacturing, transport and logistics, mining, energy and utilities, government and public services, law enforcement and forensics, and drug treatment and rehabilitation.

Intelligent Bio Solutions Inc. is an authorized distributor of the SMARTOX SmarTest Patch. The SmarTest Patch is a discreet, water-resistant, and tamper-evident device worn on the skin for 7 to 10 days at a time, continuously collecting sweat to detect a broad range of substances, including cocaine, opiates, methamphetamine, marijuana, and fentanyl. The differing detection windows of the SmarTest Patch and the System allow the Company to address both short- and long-term detection needs while maintaining a consistent, non-invasive, sweat-based approach. 

For more information, visit: https://ibs.inc/

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, statements regarding Intelligent Bio Solutions Inc.’s ability to successfully develop and commercialize its drug and diagnostic tests, realize commercial benefits from its partnerships and collaborations, secure regulatory clearance or approvals, including the timing and outcome of the FDA’s review of its 510(k) premarket notification, and timelines to enter the U.S. market, among others. Although Intelligent Bio Solutions Inc. believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, actual results may differ materially from those expressed or implied by such statements. Intelligent Bio Solutions Inc. has attempted to identify forward-looking statements by terminology, including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” and “approximately,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including those described in Intelligent Bio Solutions’ public filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this release speak only as of the date of this release. Intelligent Bio Solutions undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Company Contact
Intelligent Bio Solutions Inc. 
info@ibs.inc  

Investor & Media Contact
Valter Pinto, Managing Director 
KCSA Strategic Communications 
PH: (212) 896-1254 
INBS@kcsa.com

Financial Tables to Follow

Intelligent Bio Solutions Inc. Condensed Consolidated Balance Sheets
	As of September 30,				As of June 30,
	2026				2026
	(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	5,929,871			$	3,992,312
Accounts receivable, net		999,756				848,464
Inventories, net		478,048				418,577
Research and development tax incentive receivable		529,433				806,951
Other current assets		1,108,355				1,030,932
Total current assets		9,045,463				7,097,236
Property and equipment, net		278,000				294,399
Operating lease right-of-use assets		1,702,337				1,751,040
Intangibles, net		2,595,875				2,799,161
Total assets	$	13,621,675			$	11,941,836
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued expenses	$	3,669,088			$	4,130,213
Current portion of operating lease liabilities		152,700				147,005
Current employee benefit liabilities		756,680				651,706
Total current liabilities		4,578,468				4,928,924
Employee benefit liabilities, less current portion		54,947				49,931
Operating lease liabilities, less current portion		1,635,732				1,672,155
Total liabilities		6,269,147				6,651,010
Commitments and contingencies
Shareholders’ equity
Common stock, $0.01 par value, 100,000,000 shares authorized, 3,316,815 and 3,316,803 shares issued and outstanding, as of September 30, 2026, respectively; 2,905,615 and 2,905,603 shares issued and outstanding, as of June 30, 2026, respectively		33,168				29,056
Treasury stock, at cost, 12 shares as of September 30, 2026 and June 30, 2026, respectively		(1	)			(1	)
Additional paid-in capital		85,770,298				80,992,006
Accumulated deficit		(77,622,342	)			(74,964,040	)
Accumulated other comprehensive loss		(598,453	)			(546,186	)
Total consolidated Intelligent Bio Solutions Inc. equity		7,582,670				5,510,835
Non-controlling interest		(230,142	)			(220,009	)
Total shareholders’ equity		7,352,528				5,290,826
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	13,621,675			$	11,941,836

Intelligent Bio Solutions Inc. Condensed Consolidated Statements of Operations and Other Comprehensive Income (Loss) (Unaudited)
	Three Months Ended September 30,
	2026				2025
Revenue	$	1,391,835			$	1,111,797
Cost of revenue (exclusive of amortization shown separately below)		(633,831	)			(593,506	)
Gross profit		758,004				518,291
Other income
Government support income		205,501				193,267
Operating expenses
Selling, general and administrative expenses		(2,579,641	)			(2,706,889	)
Development and regulatory approval expenses		(829,544	)			(486,169	)
Depreciation and amortization		(237,067	)			(257,907	)
Impairment of long-lived assets		–				(261,780	)
Total operating expenses		(3,646,252	)			(3,712,745	)
Loss from operations		(2,682,747	)			(3,001,187	)
Other income (expense), net
Interest expense		(1,435	)			(2,309	)
Realized foreign exchange loss		(5,344	)			–
Interest income		21,091				8,504
Total other income, net		14,312				6,195
Net loss		(2,668,435	)			(2,994,992	)
Net loss attributable to non-controlling interest		(10,133	)			(11,986	)
Net loss attributable to Intelligent Bio Solutions Inc.	$	(2,658,302	)		$	(2,983,006	)
Other comprehensive (loss) income
Foreign currency translation (loss) gain		(52,267	)			48,716
Total other comprehensive (loss) income		(52,267	)			48,716
Comprehensive loss		(2,720,702	)			(2,946,276	)
Comprehensive loss attributable to non-controlling interest		(10,133	)			(11,986	)
Comprehensive loss attributable to Intelligent Bio Solutions Inc.	$	(2,710,569	)		$	(2,934,290	)
Net loss per share, basic and diluted	$	(0.86	)		$	(3.49	)
Weighted average shares outstanding, basic and diluted		3,095,306				854,693

8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Full name of discloser:	Rathbones Group Plc
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):  The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:  Use a separate form for each offeror/offeree	Vesuvius Plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken:  For an opening position disclosure, state the latest practicable date prior to the disclosure	09/11/2026
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?  If it is a cash offer or possible cash offer, state “N/A”	No

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	10p Ordinary Shares
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled:	2,375,870	0.9573%
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	2,375,870	0.9573%

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit
10p Ordinary Shares	Sale	125,000	458.32p

(b) Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii) Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)
10p Ordinary Shares

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

No

Date of disclosure:	10/11/2026
Contact name:	Nicky Vaughan – Compliance Department
Telephone number:	0151 243 7224

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at.

As AI agents generate code at unprecedented speeds, Rackspace infrastructure will allow Blacksmith to accelerate continuous integration workloads and turn sluggish deployment pipelines into near-instant feedback loops

SAN ANTONIO, Nov. 10, 2026 (GLOBE NEWSWIRE) — Rackspace ® (NASDAQ: RXT), the operator of the full enterprise AI stack, and Blacksmith, the infrastructure platform for building and testing code, today announced a multi-year agreement under which Rackspace will provide dedicated compute, powered by AMD EPYC CPUs, together with storage representing approximately 2 MW of capacity in Northern Virginia. The capacity is expected to begin deploying in early 2027, providing Blacksmith with a long-term partner to accelerate software delivery lifecycles and power the modern wave of AI-driven software development.

“When we talk to developers and engineering teams, we keep hearing that AI is making it much easier to write code, but getting those changes tested and ready to ship is becoming the bottleneck. We’re building Blacksmith to help developers merge code faster and feel confident about what they’re shipping. Our partnership with Rackspace will help us scale the infrastructure behind that work,” said Aditya “JP” Jayaprakash, co-founder and CEO of Blacksmith.

Accelerating Continuous Integration to Keep Pace with Machine-Speed Software Generation

The increasing adoption of AI coding tools and autonomous agents is now driving growth for Blacksmith as development teams seek to accelerate software delivery. With AI models now generating substantial pull requests and drafting thousands of lines of code in seconds, the constraint is no longer writing code, it is verifying whether that AI-generated code is built and tested before it can be merged. This is rapidly increasing demand for continuous integration (CI) workloads and creating new challenges for development teams seeking to maintain efficient testing and deployment pipelines.

Blacksmith already delivers fast, cost-efficient continuous integration experiences to its customers. By partnering with Rackspace for proven, scalable network, data center, and infrastructure management, Blacksmith can remain focused on optimizing its platform while scaling its infrastructure to support anticipated customer demand.

“Modern AI-driven software development demands speed, scale, capacity, and security. At Rackspace, we are proud to provide the infrastructure to support this evolution and support Blacksmith with dedicated compute and storage as they work to accelerate code testing and deployment for their customers and solve one of today’s greatest software challenges,” said Gajen Kandiah, Chief Executive Officer of Rackspace. “We are starting to see innovation in GPU and training workloads drive growing demand for inference and CPU-heavy capacity, and this agreement is exactly the kind of long-term, contracted demand that shift creates.”

Scaling AI Infrastructure for the Next Generation of Software Engineering

Today’s announcement builds on Rackspace’s multi-year agreement with AMD, which covers an initial 30 MW phased deployment of dedicated AMD compute across Rackspace’s global data centers from late 2026 through 2028, subject to deployment authorizations and financing. The agreement established AMD as a strategic technology partner for the silicon layer of Rackspace’s governed enterprise AI stack, expanding the compute options available to customers as their AI requirements evolve. Through the AMD CPUs Rackspace will deliver to Blacksmith, this investment further translates into the foundational runtime layer for modern AI coding, where autonomous agents can build, run, and fix software at machine speed.

About Rackspace

Rackspace (NASDAQ: RXT) is the operator of the full enterprise AI stack, bringing together infrastructure, applications, data and AI platforms across private and public cloud environments. Through its Build | Operate | Innovate delivery model, Rackspace combines engineering, infrastructure and continuous operations to help enterprises deploy and operate AI reliably, reduce complexity and realize measurable business value. Building on more than 25 years of experience operating complex enterprise technology, Rackspace helps customers manage AI performance and costs while maintaining control over their data, technology choices and where their AI runs. Its vendor-neutral, model-agnostic capabilities give customers the flexibility to evolve as technology changes. Learn more at www.rackspace.com.

About Blacksmith

Blacksmith is the infrastructure platform for building and testing code. Its purpose-built compute and caching help teams run CI 2–40x faster, without having to provision, scale or maintain the underlying infrastructure themselves. More than 10,000 companies, including Ashby, Granola, Handshake and LangChain, run their CI on Blacksmith. The company was founded in 2024 by Aditya (JP) Jayaprakash, Aayush Shah and Aditya Maru and is backed by Sequoia Capital, Premji Invest, Peak XV Partners, GV and Y Combinator. For more information, visit blacksmith.sh.

Forward-Looking Statements

Rackspace has made statements in this press release and other reports, filings, and other public written and verbal announcements that are forward-looking and therefore subject to risks and uncertainties. All statements, other than statements of historical fact, included in this press release are, or could be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. These forward-looking statements include, without limitation: the terms, scope, duration, and anticipated benefits of Rackspace’s agreement with Blacksmith; the expected size, location, timing, and pace of deployment of dedicated compute and storage capacity, including approximately 2 MW in Northern Virginia and the expectation that deployment will begin in early 2027; the anticipated performance of that capacity; and statements attributed to Blacksmith or its representatives regarding its plans, expectations, or business. Forward-looking statements are often identified by words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “aim,” “will,” “may,” “could,” “would,” “should,” “continue,” and similar expressions. These statements are based on Rackspace’s current expectations, estimates, and assumptions as of the date of this release and are not guarantees of future performance or results.

Actual results may differ materially from those expressed or implied by these statements, and the anticipated deployment, timeline, and benefits may not be achieved in full, on the anticipated timeline, or at all, due to a number of risks and uncertainties, including: Rackspace’s ability to secure, build out, power, and deliver data center space and related infrastructure on the anticipated timeline; delays, shortages, or cost increases in the procurement or delivery of AMD EPYC processors, storage, or other components; Blacksmith’s ability to utilize the capacity and its business, financial condition, and demand for its services; Rackspace’s ability to allocate capacity, capital, and personnel among competing priorities and the effect of that allocation on its other businesses; the availability of financing and capital on acceptable terms, and Rackspace’s indebtedness; the timing and amount of revenue and costs associated with the agreement and their accounting treatment; competition; cybersecurity incidents; general economic and market conditions; the outcome and effects of pending or future litigation and regulatory proceedings; and the other risks described under “Risk Factors” and elsewhere in Rackspace’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2025 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026, each as may be updated by subsequent filings with the SEC.

Forward-looking statements speak only as of the date of this release. Rackspace undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Media Contact Rackspace:
Gracie LePere
publicrelations@rackspace.com

Media Contact Blacksmith:
Katelyn Daniell
katelyn@blacksmith.sh 

• Third quarter revenue from continuing operations was $7.4 million, up 197% year-over-year. Product sales were $6.5 million, up 299%, and represented 88% of revenue. 
• Product-line growth across the KULR ONE platform, including KULR ONE Max (K1M) battery energy storage systems for power-as-a-service deployments in Japan’s open power market.
• Completed exit from Bitcoin; ended the quarter with $54.5 million in cash, no debt and no digital assets, with the ATM program paused through December 31, 2026. Third quarter GAAP net income of $4.5 million was due to a $15.8 million non-recurring gain on digital assets prior to their sale.
• Built an NDAA-compliant battery supply chain for autonomous systems, including cell manufacturer partnerships and KULR’s own battery management systems and chargers, ahead of an expected 2027 production ramp.
• Implemented a November 2026 reduction in force expected to generate approximately $4 million in annualized cost savings; research and development expenses are expected to decrease beginning in the fourth quarter of 2026 and further in 2027.

HOUSTON, Nov. 10, 2026 (GLOBE NEWSWIRE) — 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 third quarter of 2026.

“In the third quarter, we delivered on the three measures that matter for 2026: product revenue growth, gross margin improvement and cost discipline,” said Michael Mo, Founder and CEO of KULR Technology Group. “Product sales nearly quadrupled year-over-year, and the growth came from our KULR ONE platform. Gross margin returned to positive territory, though it is not yet where this business can run. We completed our exit from Bitcoin, repaid our only debt and ended the quarter with $54.5 million in cash. We have concentrated the Company’s focus on fewer programs and our strategic customers, and in 2027 our goal is to grow revenue while reducing cost. In my June letter to shareholders, I laid out a straightforward strategy: build more batteries, sell more batteries. Our third-quarter results demonstrate that we are executing along that strategy.”

Third Quarter 2026 Financial Results

All results are presented on a continuing-operations basis. The results of the Company’s former Bitcoin mining business are presented as discontinued operations, and prior-period amounts have been recast.

Revenues: Revenue for the third quarter ended September 30, 2026 increased 197% to $7.40 million, compared to $2.49 million in the same period last year. Product sales increased 299% to approximately $6.49 million, compared to approximately $1.62 million in the same quarter last year, driven by KULR ONE platform growth, including KULR ONE Max battery energy storage systems for power-as-a-service deployments in Japan. The Company served 22 product customers in the quarter, compared to 18 in the same period last year.

Gross Margin: Gross margin was 4% in the third quarter of 2026, compared to 17% in the same period last year. The decrease was driven primarily by the low margin on initial production builds of a new KULR ONE Max battery energy storage system configuration and gross losses on several custom battery assembly programs where direct labor and production costs exceeded contract value. The prior-year period benefited from high-margin sales of KULR ONE Space battery assemblies.

Research and Development (R&D) Expenses: R&D expenses increased to $5.02 million in the third quarter of 2026 from $2.32 million in the same period last year, including $0.69 million of costs reimbursed through grant revenue under the Company’s Texas Space Commission award. The increase in non-reimbursable R&D reflected investment in new battery programs and designs for autonomous platforms, the development of the Company’s own NDAA-compliant battery charger and battery management system products, and the bring-up of production lines for new KULR ONE battery configurations. The Company expects R&D expenses to decrease beginning in the fourth quarter of 2026 and further in 2027, as the production line bring-up and the new pack development programs are completed in the fourth quarter and the battery management system and charger programs are completed in early 2027.

Selling, General and Administrative (SG&A) Expenses: SG&A expenses decreased 3% to $5.91 million in the third quarter of 2026 from $6.06 million in the same period last year, primarily due to the conclusion of strategic investment and corporate development activities that drove costs higher during 2025, lower accounting, legal, consulting, marketing and other professional fees in the third quarter of 2026, partially offset by higher personnel costs from new hires and costs associated with the Company’s new facility.

Operating Loss: Loss from operations was $11.00 million for the third quarter of 2026, compared to $8.74 million in the same period last year, primarily driven by the increase in R&D.

Net Income: Net income for the third quarter of 2026 was $4.47 million, or $0.10 per basic and diluted share, compared to a net loss of $6.97 million, or $0.17 per share, in the same period last year. Third quarter net income was driven by a $15.8 million non-recurring change in the fair value of digital assets, reflecting the recovery in the value of the Company’s Bitcoin from June 30, 2026 to the dates of sale, and does not reflect operating profitability.

Cash and Liquidity: As of September 30, 2026, the Company had $54.5 million in cash, no outstanding borrowings and no digital assets.

Completed Exit from Bitcoin

During the third quarter, KULR sold all its Bitcoin holdings, totaling 1,099.09 BTC, for net proceeds of approximately $80.1 million, and used a portion of the proceeds to repay in full the $20.0 million loan outstanding under its Coinbase credit facility. KULR exited its Bitcoin mining operations effective July 2026 and no longer holds or intends to acquire or mine digital assets. The Company is now focused entirely on its battery and energy systems business, and its reported Q3 results reflect that shifted business focus directly.

Product Revenue Growth Drivers

KULR ONE is one battery platform serving three markets: autonomous systems, power infrastructure and space.

KULR ONE Air and Autonomous Systems. KULR serves two autonomous-systems applications: KULR ONE Air for drones and additional KULR ONE architectures for uncrewed underwater vehicles. Customers in these markets are preparing for the domestic-sourcing requirements of the National Defense Authorization Act (NDAA) for batteries, including restrictions on cells and components from foreign entities of concern, which are coming into effect over the next few years. In 2026, KULR built a supply chain intended to meet those requirements: partnerships with battery cell manufacturers for compliant cells, its own battery management systems and chargers so that the electronics in KULR ONE Air batteries are designed and sourced under KULR’s control, and in-house final assembly, testing and certification at its new production line facility (“Forge 2”). KULR expects 2027 to be a significant year for the ramp up of NDAA-compliant battery solutions for its autonomous systems customers.

KULR ONE Max and Power-as-a-Service Energy Storage in Japan. KULR ONE Max is KULR’s high-capacity battery platform, and its battery energy storage system configuration is focused on Japan, one of the most advanced open power markets in the world. Open generation, wholesale, retail, balancing and capacity markets have created a fast-growing market for distributed battery storage delivered as power-as-a-service, with storage units placed at customer sites and operated as a fleet. In the third quarter, KULR ONE Max shipments for these deployments contributed significantly to the Company’s product sales growth. Fleets of lithium-ion storage at customer sites depend on battery safety and battery monitoring, the two areas in which KULR has over a decade of experience: safety engineering that allows units to be approved for and kept at customer sites, and monitoring that turns a fleet into a managed asset through state-of-health, state-of-safety, uptime and warranty data. KULR believes this represents a significant growth opportunity for its battery safety and monitoring technology.

KULR ONE Space. KULR ONE Space is KULR’s heritage line: battery systems built to human-spaceflight safety standards. KULR is applying this platform to three growing markets: private space exploration, where KULR’s Texas Space Commission award funds cold-temperature lithium-ion development for the next generation of lunar and Martian missions; satellite constellations, which need standardized, certified power at production volume; and space-based AI data centers, where power density, thermal management and safety in sealed environments are critical.

The Engines: KULR ONE Studio Designer Pro and KIOS

KULR ONE Studio Designer Pro is KULR’s internally developed, AI-driven design and engineering platform, trained on KULR’s own intellectual property, including more than 900 battery pack designs from 1S to 72S configurations and characterization data for 34 cell types from nine cell vendors. A KULR engineer states the requirement, an AI agent operates the platform to produce the design and its full build package, with standards such as UN 38.3, IEC 62133 and UL 2580 checked as design rules on every build, and the engineer reviews and signs every release. A complete battery design, from scratch to fully released, can now be completed in as little as four hours depending on complexity, shortening the design cycle from weeks to hours. In October 2026, KULR began shipping KULR ONE Air battery packs designed with Designer Pro to customers.

KULR Intelligent Operating System (KIOS) is KULR’s internally developed enterprise management platform, hosted on Company-controlled infrastructure with a single database. It brings together new product introduction and program management, product lifecycle management, AS9100-aligned quality management, manufacturing work orders, purchasing and shipping, sales pipeline, budgeting and human resources, with AI agents operating under the same permissions, approvals and audit logging as employees. Initial deployment has reduced engineering record search time by up to 95%, accelerated certain inventory and bill-of-materials processes by up to three to five times, and enabled consolidation of five third-party software platforms.

Cost Discipline

In the third quarter, KULR concentrated the Company on fewer programs and its strategic customer accounts. In the fourth quarter of 2026, KULR implemented a reduction in force intended to streamline its processes, lower its cost structure, shorten turnaround time on customer programs and concentrate engineering resources on strategic customer accounts, while protecting engineering capacity for those accounts and volume production capacity at Forge 2. The Company expects these actions to generate approximately $4 million in annualized cost savings upon full implementation. The restructuring is expected to be substantially completed by the end of 2026, with the anticipated savings supporting a lower operating expense base entering 2027.

The Company expects to incur severance and related costs ranging from $0.35 million to $0.65 million in connection with the reduction, substantially all of which will be recognized in the fourth quarter of 2026. Actual savings, costs and timing may differ from current estimates.

“The investments that drove our 2026 R&D, the compliant electronics, the new battery configurations and the production lines, are built, and our operating expense base has been reset,” said Mike Kimel, Chief Financial Officer of KULR Technology Group. “We expect R&D and SG&A to decline as we scale the product revenue business, and we are focused on improving gross margins as production volume increases and repeat orders replace initial production builds. Our goal is a cost structure that lets KULR scale revenue without a corresponding increase in overhead, on a credible path toward profitability.”

KULR Technology Group Third Quarter 2026 Earnings Call
Date: Tuesday, November 10^th, 2026
Time: 8:30 a.m. Eastern time (5:30 a.m. Pacific time)

To access the call, please register using the following link: KULR Third 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, including (i) statements in connection with our discussions related to our October 23, 2026 petition filed in the Court of Chancery of the State of Delaware; (ii) our November 2026 workforce reduction; (iii) our expectations regarding decreased R&D and SG&A expenses through 2027; (iv) our expectations and goals regarding gross margin improvement; (v) our intentions to not acquire, hold or mine digital assets; (vi) the expected ramp-up of battery solutions for our autonomous systems customers; and (vii) our expectations regarding the growth opportunity for our product deployments in Japan. Such forward-looking statements can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “goal,” “will,” “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

Company announcement
No. 75/2026

                                                10 November 2026

Reporting of transactions made by persons discharging managerial responsibilities
Pursuant to the Market Abuse Regulation, Article 19, Netcompany Group A/S, CVR no. 39 48 89 14 (“Netcompany”), hereby notifies receipt of information of the following transactions made by persons discharging managerial responsibilities in Netcompany.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Thomas Johansen
2.	Reason for the notification
a)	Position/status	CFO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Netcompany Group A/S, CVR no. 39488914
b)	LEI	5299006DEGAWX1Z1X779
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Shares  DK0060952919
b)	Nature of the transaction	Purchase
c)	Price(s) and volume(s)	Price(s)         Volume(s)   DKK 343        700
d)	Aggregated information Aggregated volume Price	700 DKK 240.100
e)	Date of the transaction	10 November 2026
f)	Place of the transaction	Nasdaq Copenhagen A/S (XCSE)

Additional information
For additional information, please contact:

Netcompany Group A/S
Thomas Johansen, CFO, +45 51 19 32 24
Frederikke Linde, Head of IR, +45 60 62 60 87

Attachment

• 75. Netcompany – Reporting of transactions made by persons discharging managerial response