{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-062534","form_type":"8-K","ticker":"HSDT","cik":"0001610853","company_name":"Solana Co","filed_at":"2026-05-15T20:10:16+00:00","discovered_at":"2026-05-15T20:16:00.219722+00:00","generated_at":"2026-05-15T20:16:32.630460+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Solana Company Q1 revenue $3.6M, net loss $99.8M ($1.30/share) on digital asset write-downs","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-062534","json":"https://secwatch.observer/filing/0001104659-26-062534.json","markdown":"https://secwatch.observer/filing/0001104659-26-062534.md","text":"https://secwatch.observer/filing/0001104659-26-062534.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1610853/000110465926062534/0001104659-26-062534-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1610853/000110465926062534/hsdt-20260515x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T20:16:32.630460+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1aaad1a6e8a979c7fd4d1fb3461498d816f440a0","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1610853/000110465926062534/0001104659-26-062534-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the quarter ended March 31, 2026"},{"label":"Revenue","value":"$3.6 million"},{"label":"Net income","value":"$99.8 million, or a loss of $1.30 per basic and diluted common share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}