KULR Technology Group Reports Net Loss Amid Bitcoin-Related Charges

KULR Technology Group (NYSE: KULR) reported its financial performance for Q2 2026, showing a decline in revenue and a net loss. Revenue was $2,080,177, down 43% from $3,652,471 in the same period last year. The company's gross margin deteriorated to (31)% from 20%, indicating significant pressure on profitability.

The operating loss increased by 19% to $11,204,578, while R&D spending rose 23% to $2,985,659. This indicates continued investment in product development. Management attributed the net loss to a change in fair value loss on bitcoin holdings, which was $10,591,667.

The company has exited bitcoin mining and begun reducing its bitcoin position to lower balance-sheet volatility and improve financial visibility. It also fully repaid the Coinbase loan, removing related leverage tied to the bitcoin strategy. As of June 30, 2026, the company had $12.8 million in cash, providing liquidity to support operations.