KULR Shares Fall After Double Miss, Cash Decline

KULR Technology Group, Inc. reported a fourth-quarter loss of 97 cents per share, significantly missing the consensus estimate of an 8 cent loss, and generated revenue of $2.86 million, falling short of the expected $8.00 million, marking a 15% year-over-year decline. The company's net loss widened to $44.26 million, largely due to a $28.26 million mark-to-market loss on bitcoin holdings. Cash balances decreased to $13.30 million from $29.83 million a year earlier, while bitcoin holdings increased to $93.99 million. Following these results, KULR shares fell 11.81% to $2.09.