---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-007961"
form_type: "8-K"
ticker: "HSDT"
cik: "0001610853"
company_name: "Solana Co"
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:21:50.084890+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Helius Medical Q1 rev $135K (+22% YoY); net loss flat $2.5M; CMS PoNS reimbursement milestone

## Summary
- Q1 revenue $135K vs $111K YoY; operating loss $3.4M vs $3.8M, driven by lower professional fees and clinical trial costs.
- Net loss $2.5M (both periods); EPS -$3.08 vs -$4.42 in Q1 2023.
- Cash $3.6M at March 31; raised $5.6M net in May public offering, extending cash runway into 2025.
- Received CMS HCPCS preliminary reimbursement determination for PoNS; final price expected Oct 1, 2024.
- Added six sites to stroke registrational program; reached FDA alignment on stroke development plan.

## SEC filing metadata
- accession: 0001558370-24-007961
- form_type: 8-K
- ticker: HSDT
- cik: 0001610853
- company_name: Solana Co
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1610853/000155837024007961/0001558370-24-007961-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1610853/000155837024007961/hsdt-20240513x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-007961
- JSON: https://secwatch.observer/filing/0001558370-24-007961.json
- Plain text: https://secwatch.observer/filing/0001558370-24-007961.txt

## Key facts
- Earnings Releases
  Solana Co reported quarter ended March 31, 2024 results: revenue $135 thousand, net income net loss of $2.5 million, EPS $3.08 per share.
  - Period: quarter ended March 31, 2024
  - Revenue: $135 thousand
  - Net income: net loss of $2.5 million
  - EPS: $3.08 per share
  - Result: reported results
  source text: Services to make PoNS available to federal healthcare systems, including the U.S. Department of Veterans Affairs (“VA”) and Department of Defense (“DoD”). ​ ● Q1 2024 revenue of $135 thousand, compared to $111 thousand in Q1 2023, reflecting increased product sales in both the U.S. and Canada . ​ ● Closed on $6.4 million public offering, raising net proceeds of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1610853/000155837024007961/0001558370-24-007961-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.