SOS Limited Reports Sharply Higher Net Loss Despite Cash Position Boost

Net revenue for the six months ending June 30 dropped to $48.8 million, down 45.5% from $85.6 million in the previous year. The company attributed this contraction to a deliberate scaling back of operations amid a global economic slowdown and weakened domestic demand. Commodities trading remains the company’s primary revenue driver, accounting for 97.6% of total income, while hosting services and other activities contributed only 2.4% combined.

Despite the deepening loss, the company’s cash reserves surged from $3.2 million at the start of the year to $231.9 million by June 30. This liquidity spike was driven largely by the recovery of $222.2 million in other receivables. Management noted that they intentionally tightened profit margins during the period to retain existing customers and defend market share in a volatile environment. Operating costs decreased by 42.2% to $52.5 million, reflecting a reduction in mining machine depreciation and overall business activity, though the firm faced impairment charges totaling $27.4 million.