Soluna Holdings, Inc SLNH
Last close
0.55
2026-10-23
Market cap
$134.5M
2026-06-30 share count
52-week range
0.52 - 4.04
Valuation FY2025 figures against the last close
P/S4.5x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.38
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.7M | $38.0M | $21.1M | $28.5M | $14.3M | $595.0K | $6.6M | — | $7.1M | $7.1M |
| Cost of revenue | $23.3M | $28.6M | $15.8M | $36.5M | — | $2.7M | $2.2M | — | $2.2M | $2.7M |
| Gross profit | $1.8M | -$23.7M | $2.8M | -$8.0M | — | -$2.1M | $4.4M | — | $4.8M | $4.3M |
| R&D | — | — | — | — | — | $1.5M | $1.4M | — | $1.1M | $1.2M |
| SG&A | $40.1M | $28.2M | $24.9M | $28.7M | $10.8M | $1.8M | $2.7M | — | $3.1M | $3.5M |
| Operating income | -$33.7M | -$47.5M | -$20.2M | -$84.8M | -$4.5M | -$1.6M | $259.0K | — | $588.0K | -$361.0K |
| Interest expense | $4.8M | $2.5M | $2.7M | $8.4M | $1.9M | — | — | — | — | — |
| Pre-tax income | -$59.3M | -$60.8M | -$28.8M | -$108.4M | -$6.3M | -$1.5M | $295.0K | — | $588.0K | -$368.0K |
| Income tax | $2.3M | $2.5M | $1.1M | $1.3M | $44.0K | $332.0K | $28.0K | — | $6.0K | $9.0K |
| Net income | $57.0M | $58.3M | $27.7M | -$98.7M | -$5.3M | $1.9M | $323.0K | — | $582.0K | -$359.0K |
| EPS, basic | -2.38 | -14.94 | -27.79 | -174.41 | -0.50 | 0.20 | 0.03 | — | 0.06 | -0.06 |
| EPS, diluted | -2.38 | -14.94 | -27.79 | -174.41 | -0.50 | 0.20 | 0.03 | — | 0.06 | -0.06 |
| Shares, diluted (wtd. avg.) | 29.0M | 5.1M | 1.3M | 599,301 | 11.8M | 9.6M | 9.6M | — | 9.3M | 6.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Receivables | $5.5M | $2.7M | $2.9M | $320.0K | $531.0K | $59.0K | $745.0K | — | $1.4M | $881.0K |
| Inventory | — | — | — | — | $888.0K | $828.0K | $924.0K | — | $694.0K | $676.0K |
| Total current assets | $92.1M | $13.5M | $14.3M | $3.8M | $25.0M | $4.8M | $4.2M | — | $6.0M | $5.0M |
| Property, plant and equipment | $74.8M | $47.3M | $44.6M | $42.2M | $44.6M | $722.0K | $174.0K | — | $184.0K | $160.0K |
| Other intangibles | $8.3M | $17.6M | $27.0M | $36.4M | $45.8M | — | — | — | — | — |
| Total assets | $187.9M | $88.0M | $91.3M | $85.0M | $117.7M | $8.6M | $5.8M | — | $6.2M | $5.2M |
| Accounts payable | $4.9M | $2.8M | $2.1M | $3.5M | $3.0M | $192.0K | $210.0K | — | $325.0K | $124.0K |
| Short-term debt | $8.9M | $14.4M | — | — | — | — | — | — | — | — |
| Total current liabilities | $49.2M | $47.9M | $28.2M | $29.5M | $15.7M | $1.6M | $1.1M | — | $1.2M | $1.0M |
| Long-term debt | $17.9M | $7.1M | — | $13.0M | — | — | — | — | — | — |
| Total liabilities | $75.7M | $60.7M | $37.9M | $38.7M | $26.7M | $2.7M | $1.9M | — | — | — |
| Retained earnings | -$367.7M | -$314.3M | -$251.0M | -$221.8M | -$123.1M | -$117.8M | -$119.7M | — | -$120.4M | -$121.0M |
| Total equity | $53.5M | -$12.5M | $53.4M | $46.3M | $91.0M | $5.9M | $3.8M | $6.9M | $5.0M | $4.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$9.1M | -$5.1M | -$3.0M | -$6.1M | $4.6M | -$1.2M | $289.0K | — | $363.0K | $522.0K |
| Depreciation and amortisation | $6.9M | $6.2M | $3.9M | $18.7M | $2.1M | $81.0K | $87.0K | — | $81.0K | $85.0K |
| Stock-based compensation | $10.6M | $5.3M | $4.3M | $3.7M | $1.9M | $40.0K | $31.0K | — | $41.0K | $449.0K |
| Capital expenditure | $28.1M | $8.9M | $12.7M | $63.7M | $45.8M | $805.0K | $83.0K | — | $107.0K | $136.0K |
| Investing cash flow | -$31.9M | -$13.2M | -$10.3M | -$54.7M | -$57.3M | -$1.8M | -$83.0K | — | -$107.0K | -$136.0K |
| Financing cash flow | $119.4M | $18.3M | $21.9M | $42.9M | $59.4M | $83.0K | -$3.5M | — | $191.0K | $2.5M |
| Dividends paid | — | — | — | — | $630.0K | $0 | $3.5M | — | — | — |
| Buybacks | $75.0K | $0 | — | — | — | — | — | — | $0 | $10.0K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-058611.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1M | $7.1M | — | $6.6M | $595.0K | $14.3M | $28.5M | $21.1M | $38.0M | $29.7M |
| Gross profit | $4.3M | $4.8M | — | $4.4M | -$2.1M | — | -$8.0M | $2.8M | -$23.7M | $1.8M |
| Net income | -$359.0K | $582.0K | — | $323.0K | $1.9M | -$5.3M | -$98.7M | $27.7M | $58.3M | $57.0M |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Regulation FD disclosure Item 7.01
- Regulation FD disclosure Item 7.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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