earnings
confidence high
sentiment neutral
materiality 0.75
Soluna Q2 revenue up 145% YoY to $15.1M; net loss widens to $22.6M
Soluna Holdings, Inc
- Q2 revenue $15.1M, up 145% YoY (73% ex presentation change); fifth consecutive sequential growth quarter.
- Net loss $22.6M vs $17.9M in Q1; $4.2M loss on debt extinguishment and Briscoe costs.
- Pipeline ~6.3 GW; Dorothy 3 at 300 MW; Kati 2 JV with Metrobloks (Phase I 100 MW, Phase II +250 MW).
- Completed Dorothy 1 vertical integration: acquired Briscoe Wind (150 MW, $53M), Spring Lane interest ($16.5M), Navitas interest ($8.8M).
- Adjusted EBITDA loss improved 25% to $1.6M; cash $113.4M, debt $33.1M; raised ~$23.6M post-quarter via ATM.