KULR Technology Q2 revenue falls 43%; bitcoin loss widens net loss

KULR Technology

13/08/2026 22:34

Overview
US battery systems maker's Q2 revenue fell 43% yr/yr
Company posted Q2 net loss, driven by $10.6 mln non-cash bitcoin loss
KULR exited bitcoin mining and is reducing bitcoin holdings to focus on core business

Outlook
Company did not provide specific financial guidance for upcoming quarters or full year

Result Drivers
BITCOIN LOSSES - Net loss was primarily driven by a $10.6 mln non-cash change in fair value loss associated with bitcoin holdings
STRATEGIC SHIFT - Co exited bitcoin mining and is reducing bitcoin holdings to focus on core energy platform, per CFO Mike Kimel

Company press release: ID:nGNX9QpnZt

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$2.10 mln
 
Q2 Loss Per Share
 
$0.47
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for KULR Technology Group Inc is $8.00, about 169.4% above its August 12 closing price of $2.97

Reuters Recommended Reads
Aug 13 - Forum Markets Q2 revenue falls on digital asset exit
Aug 11 - Fold Q2 revenue falls, misses estimates as bitcoin prices pressure activity
Aug 11 - Battery developer SES AI's Q2 revenue falls more than expected

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)