Solana Company Q1 revenue $3.6M, net loss $99.8M ($1.30/share) on digital asset write-downs

Solana Co

Q1 revenue $3.6M (primarily $3.4M staking rewards) vs $49K in Q1 2025; gross profit $3.4M.
Operating loss $99.6M, driven by $89.2M unrealized loss on digital assets and $7.0M realized loss from strategic sales.
Net loss $99.8M ($1.30 per share) vs $3.8M ($382.29) in prior year; shares outstanding increased to 55.0M.
Executed $3.5M in share repurchases during quarter; cash $4.4M, digital asset exposure $193.8M at fair value.
Appointed Madelene Gani as COO and Deputy CFO effective April 6, 2026; advancing Pacific Backbone validator with Jito.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Solana Co reported the quarter ended March 31, 2026 results: revenue $3.6 million, net income $99.8 million, or a loss of $1.30 per basic and diluted common share.

Period: the quarter ended March 31, 2026
Revenue: $3.6 million
Net income: $99.8 million, or a loss of $1.30 per basic and diluted common share
Result: reported results

Exact text from the filing

HSDT) (the “Company” or “HSDT”), a publicly listed company, today announced results for the quarter ended March 31, 2026. First Quarter Recent Business Updates ● Generated $3.6 million in revenue in the first quarter of 2026, with the increase primarily driven by the Company’s SOL earning staking yield ● Executed approximately $3.5 million in share repurchases

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Solana Co filing history →

Source: SEC EDGAR

accession 0001104659-26-062534

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