SOS (SOS) H1 2026 earnings summary

Executive summary

• H1 2026 revenue fell 45.5% YoY to $48.8 million, while net loss widened to $34.5 million from $14.2 million, largely reflecting a $27.4 million digital-asset fair-value loss.

• Operations centered on commodity trading and hosting; cryptocurrency mining remained suspended, and legacy data-marketing contracts continued.

Financial highlights

• Revenue was $48.8 million versus $89.6 million YoY; operating costs were $52.5 million versus $90.9 million, producing a $3.7 million gross loss versus $1.3 million.

• Net loss was $34.5 million versus $14.2 million YoY; operating loss was $41.7 million versus $15.0 million.

• Selling expense rose to $2.6 million from $2.3 million; G&A fell to $6.0 million from $9.4 million, mainly due to no mining-machine depreciation in the period.

Outlook and guidance

• Management expects available cash to cover current operations, working capital, commitments and capital expenditures for at least the next 12 months, while noting future business or economic changes could require more cash.

• Revenue growth factors include new service lines and international expansion; G&A is expected to rise as commercial infrastructure and public-company costs expand.

• Mining may resume following acquisition of new equipment; current activity is focused on hosting services.