KULR Technology Group reported a significant miss on both top and bottom lines for the second quarter 2026, as revenue declined 43% year-over-year and gross margins turned negative. Results were heavily impacted by the company's Bitcoin treasury strategy, which management has begun unwinding to prioritize the core battery and energy system business.
Key Highlights
- Revenue fell to $2.08 million from $3.65 million in the prior year, trailing the $9.0 million analyst consensus by approximately $6.9 million.
- Gross margin collapsed to (31)% from 20% in the year-ago period, reflecting challenges in the transition to large-scale production.
- Net loss widened to $21.97 million ($0.47 per share), primarily driven by a $10.6 million non-cash fair value loss on Bitcoin holdings.