KULR Technology Group reported its financial results for the second quarter ended June 30, 2025, achieving record revenue of $3.97 million, a 63% increase compared to $2.43 million in the same period last year. Product sales increased by 74% to approximately $1.98 million.
The company reported a net income of $8.14 million, or $0.22 per share, for Q2 2025, a significant turnaround from a net loss of $5.89 million, or $0.26 per share, in the prior year. This net gain was primarily driven by a mark-to-market adjustment of the company’s Bitcoin holdings compared to March 31, 2025.
Gross margin for the quarter was 18%, down from 24% in Q2 2024, primarily due to unanticipated labor hours needed to complete technical projects. Operating expenses increased, with SG&A rising to $6.94 million and R&D to $2.44 million, reflecting planned investments in advertising, marketing, and consulting services. As of June 30, 2025, KULR held $24.73 million in cash and current accounts receivable, and over 1,035 BTC.
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