KULR Technology Group Inc ( KULR ) reported better-than-expected financial results for the second quarter after the close on Thursday, and shares are moving higher. Here’s what you need to know from the report.

KULR ( KULR ) stock is racing ahead of the pack after-hours. See the trading setup here.

Q2 Earnings: KULR Technology ( KULR ) reported second-quarter revenue of $3.97 million, beating estimates of $3.5 million, according to Benzinga Pro. The company said total revenue increased 63% year-over-year as product sales jumped 74%.

KULR Technology ( KULR ) reported second-quarter earnings of 22 cents per share, beating estimates for a loss of 16 cents per share. The positive earnings results were primarily driven by a mark-to-market of the company’s Bitcoin (CRYPTO: BTC) holdings. KULR Technology ( KULR ) said it now holds more than 1,035 Bitcoin.

“We continue to invest for KULR’s long-term growth and scalability. In parallel, we are executing on our Bitcoin treasury strategy. We hold over 1,035 BTC and a yield approaching 300%. We remain confident in our ability to build shareholder value through our energy management, exoskeleton and BTC strategies,” said Shawn Canter, CFO of KULR Technology Group ( KULR ).

KULR Technology ( KULR ) executives are currently discussing the quarter on an earnings call that kicked off at 4:30 p.m. ET.

KULR Price Action: KULR Technology ( KULR ) shares were up 15.94% after-hours, trading at $6.11 at the time of publication on Thursday, according to Benzinga Pro.

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