Quarterly ResultMay 14, 2026, 04:20 PM
KULR Technology Q1 Revenue +97.9% to $4.85M; Net Loss $(28.12)M
AI Summary
KULR Technology Group reported a significant increase in revenue and gross profit for the first quarter of 2026. Revenue nearly doubled to $4.85 million, and gross profit surged by 587.8%. However, the company's net loss widened to $(28.12) million, primarily due to a substantial $(20.77) million expense from the change in fair value of digital assets. The cash balance decreased, and the company took on a $5.00 million loan payable during the quarter, while also recognizing $1.37 million in grant revenue.
Key Highlights
- KULR Technology reported Q1 2026 revenue of $4.85 million, a 97.9% increase from $2.45 million in Q1 2025.
- Gross profit for Q1 2026 was $1.42 million, up 587.8% from $0.21 million in Q1 2025.
- Net loss for Q1 2026 widened to $(28.12) million, compared to $(18.81) million in Q1 2025.
- Basic and diluted net loss per share for Q1 2026 was $(0.61), compared to $(0.54) in Q1 2025.
- Cash balance at March 31, 2026, was $7.68 million, down from $13.30 million at December 31, 2025.
- Digital assets decreased to $65.37 million at March 31, 2026, from $93.99 million at December 31, 2025.
- A change in fair value of digital assets resulted in a $(20.77) million expense in Q1 2026.
- The company secured a $5.00 million loan payable during the first quarter of 2026.
- Grant revenue of $1.37 million was recognized in Q1 2026, up from $0 in Q1 2025.
Price Impact
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