Soluna Holdings, Inc
SLNH Nasdaq· Finance Services
Last close · Oct 26, 2026
$0.52
KIRA · Stoqly’s AI analyst, in plain words
- Soluna Holdings, Inc had $29.7M of revenue in fiscal 2025, down 21.8% on the year before. Over five years, revenue changed +118.6% a year on average.
- Its operating margin was −113.3%, up 11.7 pts: of every 100 in sales, about −113 is left after running the business.
- Soluna Holdings, Inc lost $53.4M in fiscal 2025.
- Free cash flow was −$37.2M in fiscal 2025, −125.2% of revenue.
- Soluna Holdings, Inc returned $0.1M to shareholders in fiscal 2025. The diluted share count rose 468.5%.
- Soluna Holdings, Inc has $56.3M more cash than debt.
Market cap
$68.1M
P/E
—
Revenue
$29.7M
Net income
−$53.4M
Free cash flow
−$37.2M
Operating margin
−113.3%
Soluna Holdings, Inc in 30 seconds · fiscal 2025
Are sales growing?
−21.8%
No. Sales fell 21.8% last year.
Does it make a profit?
−179.7%
No. It lost money last year.
Does profit turn into cash?
−125.2%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 9
Mixed. It passes 4 of 9 health tests.
How is the share priced?
—
No P/E: it made no profit over the last four quarters.
What Soluna Holdings, Inc does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 30, 2026
- Legal name
- Soluna Holdings, Inc
- CIK
- 0000064463
Soluna Holdings, Inc · SLNH
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $14.3M | $28.5M | $21.1M | $38.0M | $29.7M |
| Revenue growth | 2,310.9% | 99.0% | −26.2% | 80.5% | −21.8% |
| Gross margin | — | −27.9% | 13.1% | −62.4% | 6.1% |
| Operating margin | −31.2% | −297.0% | −96.1% | −125.0% | −113.3% |
| Net income | −$5.3M | −$98.7M | −$29.2M | −$63.3M | −$53.4M |
| Net margin | −36.7% | −345.8% | −138.6% | −166.6% | −179.7% |
| Diluted EPS | −$0.50 | −$174.41 | −$27.79 | −$14.94 | −$2.38 |
| Cash | |||||
| Cash from operations | $4.6M | −$6.1M | −$3.0M | −$5.1M | −$9.1M |
| Capital expenditure | $45.8M | $63.7M | $12.7M | $8.9M | $28.1M |
| Free cash flow | −$41.2M | −$69.8M | −$15.7M | −$13.9M | −$37.2M |
| FCF margin | −286.9% | −244.5% | −74.5% | −36.6% | −125.2% |
| Dividends paid | $0.6M | — | — | — | — |
| Share buybacks | — | — | — | $0.0M | $0.1M |
| Share count change | 23.6% | −94.9% | 119.2% | 288.9% | 468.5% |
| Debt and strength | |||||
| Cash and short-term investments | $10.3M | $1.1M | $6.4M | $7.8M | $76.4M |
| Debt incl. finance leases | — | $13.0M | — | $7.1M | $20.2M |
| Deposits | — | — | $1.0M | $1.0M | — |
| Shareholders' equity | $91.0M | $41.9M | $26.5M | −$12.5M | $53.6M |
| Current ratio | 1.6x | 0.1x | 0.5x | 0.3x | 1.9x |
| Interest coverage | −2.4x | −10.1x | −7.4x | −18.8x | −7.0x |
| Returns and quality | |||||
| Return on capital | — | −124.7% | — | — | — |
| Return on equity | −10.9% | −148.6% | −85.4% | −902.5% | −260.1% |
| Return on tangible equity | −11.7% | −1,923.5% | — | — | −152.5% |
| Piotroski F-score | 3 | 3 | 4 | 2 | 4 |
| Altman Z'' | 0.4 | −16.1 | −10.7 | −18.0 | −5.3 |
Insiders bought, 12 months
$0.3M
2 insiders
Insiders sold, 12 months
$1.1M
7 insiders
Of sales under plans
3%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Soluna Holdings, Inc · SLNH
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $0.52 a share, the company is worth $68.1M.
Source: SEC EDGAR XBRL filings (CIK 0000064463). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.