Quarterly ResultMay 14, 2026, 04:22 PM
KULR Q1 Revenue +98% to $4.85M; Net Loss $28.12M on Bitcoin Loss
AI Summary
KULR Technology Group reported its first quarter 2026 financial results, showing a 98% increase in revenue to $4.85 million and an improved gross margin of 29%. The company also reduced SG&A and R&D expenses, leading to a 22% decrease in operating loss. However, the net loss significantly increased to $28.12 million, primarily due to a $20.77 million non-cash mark-to-market loss on its bitcoin holdings. The company held a cash balance of $19.0 million as of May 13, 2026.
Key Highlights
- Revenue increased 98% to $4,846,430 in Q1 2026 from $2,448,606 year-over-year.
- Gross margin improved to 29% in Q1 2026 from 8% in the same period last year.
- SG&A expenses decreased 9% to $6,531,969 in Q1 2026.
- R&D expenses decreased 28% to $1,770,500 in Q1 2026.
- Operating loss decreased 22% to $7,385,177 in Q1 2026.
- Net loss increased to $28,119,844, or $0.61 per share, primarily due to a $20,767,713 bitcoin mark-to-market loss.
- Cash balance was $19.0 million as of May 13, 2026.
Price Impact
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