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Financials · SLNH

Soluna Holdings Inc. (SLNH) financials

For the twelve months ended Jun 30, 2026, Soluna Holdings Inc. reported $42.08M of revenue and -$80.47M of net income.

Revenue, TTM
$42.08M
Revenue growth, YoY
+50.9%
Net income, TTM
-$80.47M
Net margin
-191.2%
Free cash flow, TTM
-$49.19M
Cash
$113.36M
Total debt
$33.12M
P/S
2.69
Market cap
$113.2M
Annual revenue$29.72M
FY2019FY2025
Annual net income-$53.41M
FY2015FY2025
Annual free cash flow-$37.21M
FY2015FY2025

SLNH revenue and earnings growth

SLNH revenueQ2 2026$15.06M

Quarter YoY
+144.6%
QoQ
+60.3%
FY YoY
-21.8%
5Y CAGR
+118.6%

SLNH revenue was $15.06M in fiscal Q2 2026 (ended Jun 30, 2026), up 144.6% from a year earlier and up 60.3% from the prior quarter. For the full fiscal 2025 it was $29.72M, down 21.8% from fiscal 2024. Compound annual growth was +118.6% over 5 years. It rose in 3 of the last 6 fiscal years.

SLNH net incomeQ2 2026-$20.71M

SLNH net income was -$20.71M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$7.38M a year earlier. For the full fiscal 2025 it was -$53.41M, compared with -$63.33M in fiscal 2024.

SLNH EPSQ2 2026-$0.18

SLNH diluted EPS was -$0.18 in fiscal Q2 2026 (ended Jun 30, 2026). For the full fiscal 2025 it was -$2.38.

SLNH free cash flowQ2 2026-$12.10M

SLNH free cash flow was -$12.10M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$5.35M a year earlier. For the full fiscal 2025 it was -$37.21M, compared with -$13.92M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
FY2015
Dec 31, 2015
Revenue$29.72M$38.02M$21.07M$28.55M$14.35M$595.0K$6.57M---
Cost of revenue$23.26M$28.63M$15.83M$36.51M-$2.67M$2.21M$2.23M$2.72M$2.48M
Gross profit$1.80M-$23.74M$2.77M-$7.96M--$2.07M$4.37M---
Research and development-----$1.49M$1.38M$1.15M$1.24M$1.55M
Selling, general and admin$40.13M$28.19M$24.90M$28.71M$10.75M$1.83M$2.73M$3.09M$3.45M$3.78M
Operating income-$33.68M-$47.52M-$20.24M-$84.79M-$4.48M-$1.64M$259.0K$588.0K-$361.0K-$1.47M
Interest expense$4.83M$2.53M$2.75M$8.38M$1.88M-----
Pre-tax income-$59.31M-$60.79M-$28.77M-$108.36M-$6.34M-$1.54M$295.0K$588.0K-$368.0K-$1.47M
Income tax-$2.32M-$2.49M-$1.07M-$1.35M$44.0K-$332.0K-$28.0K$6.0K-$9.0K$1.36M
Net income-$53.41M-$63.33M-$29.20M-$98.72M-$5.26M$1.95M$323.0K$582.0K-$359.0K-$2.83M
EPS, basic-$2.38-$14.94-$27.79-$174.41-$0.50$0.20$0.03$0.06-$0.06-$0.54
EPS, diluted-$2.38-$14.94-$27.79-$174.41-$0.50$0.20$0.03$0.06-$0.06-$0.54
Diluted shares29.0M5.1M1.3M599,30111.8M9.6M9.6M9.3M6.0M5.3M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
FY2015
Dec 31, 2015
Cash and equivalents$76.42M$7.84M$6.37M$1.14M$10.26M$2.63M$2.51M$3.83M$3.38M$462.0K
Receivables$5.52M$2.69M$2.95M$320.0K$531.0K$59.0K$745.0K$1.41M$881.0K$931.0K
Inventory-----$828.0K$924.0K$694.0K$676.0K$1.01M
Current assets$92.13M$13.49M$14.28M$3.76M$24.98M$4.78M$4.24M$6.02M$5.02M$2.47M
Total assets$187.94M$88.04M$91.28M$84.96M$117.69M$8.65M$5.75M$6.20M$5.18M$2.59M
Current liabilities$49.19M$47.87M$28.18M$29.52M$15.68M$1.64M$1.14M$1.24M$1.03M$1.06M
Short-term debt$8.86M$14.44M--------
Long-term debt$17.90M$7.06M--------
Total debt$26.76M$21.50M-$13.00M$7.12M---$0-
Total liabilities$75.70M$60.68M$37.92M$38.69M$26.71M$2.73M$1.92M---
Shareholders' equity$53.55M$27.36M$53.36M$46.27M$90.99M$5.92M$3.83M$4.96M$4.15M$1.53M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
FY2015
Dec 31, 2015
Operating cash flow-$9.15M-$5.07M-$2.99M-$6.12M$4.63M-$1.21M$289.0K$363.0K$522.0K-$1.43M
Capital expenditures$28.07M$8.85M$12.71M$63.68M$45.79M$805.0K$83.0K$107.0K$136.0K$55.0K
Free cash flow-$37.21M-$13.92M-$15.69M-$69.80M-$41.16M-$2.02M$206.0K$256.0K$386.0K-$1.48M
Investing cash flow-$31.85M-$13.16M-$10.33M-$54.71M-$57.27M-$1.83M-$83.0K-$107.0K-$136.0K-$35.0K
Financing cash flow$119.39M$18.32M$21.86M$42.94M$59.38M$83.0K-$3.47M$191.0K$2.53M$0
Dividends paid----$630.0K$0$3.54M---
Share repurchases$75.0K$0-----$0$10.0K$0
Stock-based compensation$10.57M$5.31M$4.31M$3.67M$1.94M$40.0K$31.0K$41.0K$449.0K$141.0K
Depreciation and amortization$9.61M$9.61M$9.51M$9.51M$1.58M-----

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
FY2015
Dec 31, 2015
Revenue growth, YoY-21.8%80.5%-26.2%99.0%2310.9%-90.9%----
Net income growth, YoY-----502.5%----
EPS growth, YoY-----566.7%----
Gross margin6.1%-62.4%13.1%-27.9%--348.6%66.4%---
Operating margin-113.3%-125.0%-96.1%-297.0%-31.2%-276.0%3.9%---
Net margin-179.7%-166.6%-138.6%-345.8%-36.7%327.1%4.9%---
Free cash flow margin-125.2%-36.6%-74.5%-244.5%-286.9%-339.3%3.1%---
Return on equity-99.7%-231.5%-54.7%-213.3%-5.8%32.9%8.4%11.7%-8.7%-185.5%
Return on assets-28.4%-71.9%-32.0%-116.2%-4.5%22.5%5.6%9.4%-6.9%-109.5%
Current ratio1.870.280.510.131.592.923.714.864.872.33
Debt to equity0.500.79-0.280.08---0.00-

Source: XBRL data Soluna Holdings Inc. files with the SEC, latest filing dated Aug 13, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

SLNH peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
SLNH$42.08M+50.9%-$80.47M-191.2%$113.2M
ADP$22.26B+6.5%$4.53B20.3%$121.25B
INFY$20.16B+4.6%$3.31B16.4%$51.92B
WDAY$10.15B+13.3%$1.25B12.3%$48.24B
ZS$3.35B+25.4%-$63.18M-1.9%$33.24B
CTSH$21.89B+5.0%$2.57B11.8%$29.75B
VRSN$1.73B+6.5%$849.80M49.1%$27.99B
VRSK$3.18B+4.9%$879.20M27.7%$27.52B
IOT$1.85B+29.5%$90.55M4.9%$24.06B

SLNH FAQ

8 questions
  • What is SLNH revenue?
    Soluna Holdings Inc. (SLNH) reported $42.08M of revenue for the twelve months ended Jun 30, 2026. That is up 50.9% from the year before. Revenue for fiscal 2025 was $29.72M.
  • Is SLNH profitable?
    No. Soluna Holdings Inc. reported a net loss of $80.47M for the twelve months ended Jun 30, 2026.
  • How much cash and debt does SLNH have?
    Soluna Holdings Inc. reported $113.36M in cash and cash equivalents and $33.12M of debt on its most recent balance sheet in SEC filings.
  • How fast is SLNH revenue growing?
    Soluna Holdings Inc.'s revenue changed -21.8% in fiscal 2025, to $29.72M. Its compound annual growth rate was +118.6% over 5 years.
  • What is SLNH gross margin?
    Soluna Holdings Inc.'s gross profit was $581.0K on $42.08M of revenue for the twelve months ended Jun 30, 2026, a gross margin of 1.4%.
  • What is SLNH free cash flow?
    Soluna Holdings Inc. generated -$49.19M of free cash flow for the twelve months ended Jun 30, 2026, which is operating cash flow of -$19.43M less capital expenditures.
  • When did SLNH last report financial results?
    The latest statements here come from Soluna Holdings Inc.'s 10-Q filed on Aug 13, 2026, covering the period ended Jun 30, 2026.
  • Where does this SLNH financial data come from?
    Quantisnow builds these statements from the structured XBRL data Soluna Holdings Inc. files with the SEC. It is provided for information only and is not investment advice.