NASDAQ: SLNH
Soluna Holdings, IncCIK 0000064463 · SIC 6199 · Finance Services
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Soluna Holdings registers resale of 2,459,400 shares by selling stockholders; company gets no proceeds
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(Dollars in thousands, except per share)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Cryptocurrency mining revenue | 1,720 | 2,861 | 3,889 | 5,860 |
| Data hosting revenue | 12,653 | 3,136 | 19,341 | 5,538 |
| Wind energy generation revenue | 366 | — | 366 | — |
| Demand response service revenue | 321 | 161 | 858 | 668 |
| High-performance computing service revenue | — | — | — | 28 |
| Total revenue | 15,060 | 6,158 | 24,454 | 12,094 |
| Operating costs: | ||||
| Cost of cryptocurrency mining revenue, exclusive of depreciation | 958 | 1,767 | 2,616 | 3,721 |
| Cost of data hosting revenue, exclusive of depreciation | 7,672 | 1,617 | 11,291 | 2,945 |
| Cost of wind energy generation revenue, exclusive of depreciation | 2,253 | — | 2,253 | — |
| Cost of high-performance computing services | — | — | — | 7 |
| Cost of cryptocurrency mining revenue- depreciation | 992 | 1,074 | 2,047 | 2,147 |
| Cost of data hosting revenue- depreciation | 1,366 | 512 | 2,513 | 913 |
| Cost of wind energy generation revenue- depreciation and accretion expense | 1,053 | — | 1,053 | — |
| Total costs of revenue | 14,294 | 4,970 | 21,773 | 9,733 |
| Operating expenses: | ||||
| General and administrative expenses, exclusive of depreciation and amortization | 15,239 | 5,397 | 31,379 | 11,344 |
| Depreciation and amortization associated with general and administrative expenses | 2,400 | 2,403 | 4,801 | 4,807 |
| Total general and administrative expenses | 17,639 | 7,800 | 36,180 | 16,151 |
| Impairment on intangibles | 70 | — | 70 | — |
| Impairment on fixed assets | — | 12 | — | 12 |
| Operating loss | (16,943) | (6,624) | (33,569) | (13,802) |
| Interest expense | (3,167) | (1,196) | (4,648) | (2,034) |
| (Loss) gain on debt extinguishment and revaluation, net | (4,197) | — | (4,197) | 551 |
| Loss on sale of fixed assets and deposits on equipment | (585) | (22) | (553) | (22) |
| Fair value adjustment gain (loss) | 246 | — | 246 | (118) |
| Other financing expense | (5) | (255) | (569) | (456) |
| Other income (expense), net | 1,480 | (291) | 1,593 | (286) |
| Loss before income taxes | (23,171) | (8,388) | (41,697) | (16,167) |
| Income tax benefit, net | 547 | 608 | 1,171 | 1,033 |
| Net loss | (22,624) | (7,780) | (40,526) | (15,134) |
| (Less) Net loss (income) attributable to non-controlling interest | 1,915 | 398 | 2,351 | 196 |
| Net loss attributable to Soluna Holdings, Inc. | (20,709) | (7,382) | (38,175) | (14,938) |
| Basic and Diluted loss per common share: | ||||
| Basic & Diluted loss per share | (0.18) | (0.93) | (0.41) | (2.10) |
| Weighted average shares outstanding (Basic and Diluted) | 130,975,761 | 11,146,141 | 107,668,028 | 9,939,450 |
Condensed Consolidated Balance Sheets (Unaudited)
(Dollars in thousands, except per share)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current Assets: | ||
| Cash | 113,364 | 76,423 |
| Restricted cash | 10,005 | 4,500 |
| Accounts receivable, net (allowance for expected credit losses of $0 at June 30, 2026 and $244 at December 31, 2025) | 6,737 | 5,522 |
| Prepaid expenses and other current assets | 4,513 | 2,664 |
| Loan commitment assets | - | 3,018 |
| Total Current Assets | 134,619 | 92,127 |
| Restricted cash, noncurrent | 7,920 | 7,920 |
| Other assets | 973 | 978 |
| Deposits and credits on equipment | 208 | 1,377 |
| Property, plant and equipment, net | 137,801 | 74,783 |
| Intangible assets, net | 6,068 | 8,261 |
| Operating lease right-of-use assets | 4,152 | 252 |
| Financing lease right-of-use assets | 1,773 | 2,246 |
| Total Assets | 293,514 | 187,944 |
| Liabilities and Equity | ||
| Current Liabilities: | ||
| Accounts payable | 3,785 | 4,859 |
| Accrued liabilities | 7,549 | 13,182 |
| Accrued interest payable | 59 | 303 |
| Contract termination liability | 19,348 | 19,348 |
| Current portion of debt | 30,103 | 8,858 |
| Income tax payable | 147 | 123 |
| Deferred revenue | 558 | 518 |
| Customer deposits- current | 3,020 | 1,913 |
| Operating lease liability | 108 | 65 |
| Financing lease liability | 23 | 20 |
| Other current liabilities | 742 | — |
| Total Current Liabilities | 65,442 | 49,189 |
| Other liabilities | 414 | 743 |
| Customer deposits- long-term | 1,503 | 2,533 |
| Long-term debt | 3,016 | 17,899 |
| Asset retirement obligation | 3,664 | — |
| Operating lease liability | 4,276 | 187 |
| Financing lease liability | 1,769 | 2,236 |
| Deferred tax liability, net | 1,732 | 2,911 |
| Total Liabilities | 81,816 | 75,698 |
| Commitments and Contingencies (Note 12) | ||
| Mezzanine Equity: | ||
| Placement agent warrants | 1,313 | 1,313 |
| Equity: | ||
| 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share, $25.00 liquidation preference; authorized 6,040,000; 4,920,045 shares issued and outstanding as of June 30, 2026 and 4,928,545 shares issued and outstanding as of December 31, 2025 | 5 | 5 |
| Series B Preferred Stock, par value $0.0001 per share, authorized 187,500; 0 shares issued and outstanding as of June 30, 2026 and 62,500 shares issued and outstanding as of December 31, 2025 | — | — |
| Common stock, par value $0.001 per share, authorized 375,000,000; 225,986,784 shares issued and 225,821,479 shares outstanding as of June 30, 2026 and 102,617,684 shares issued and 102,531,089 shares outstanding as of December 31, 2025 | 226 | 103 |
| Additional paid-in capital | 575,594 | 435,030 |
| Accumulated deficit | (405,890) | (367,715) |
| Common stock in treasury, at cost, 165,305 shares at June 30, 2026 and 86,595 shares at December 31, 2025 | (14,004) | (13,873) |
| Total Soluna Holdings, Inc. Stockholders’ Equity (Deficit) | 155,931 | 53,550 |
| Non-Controlling Interest | 54,454 | 57,383 |
| Total Equity | 210,385 | 110,933 |
| Total Liabilities, Mezzanine Equity, and Equity | 293,514 | 187,944 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Dollars in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating Activities | ||
| Net loss | (40,526) | (15,134) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation expense | 5,494 | 3,121 |
| Amortization expense | 4,841 | 4,746 |
| Stock-based compensation | 19,702 | 3,789 |
| Deferred income taxes | (1,179) | (1,051) |
| Right of first refusal amortization gain | (135) | — |
| Impairment on fixed assets and intangibles | 70 | 12 |
| Amortization of operating and finance lease asset | 155 | 30 |
| Loss (gain) on debt extinguishment and revaluation, net | 4,197 | (551) |
| Amortization of deferred financing costs and discount on notes | 2,209 | 338 |
| Fair value adjustments, including SEPA | (246) | 118 |
| SEPA commitment cost | 250 | — |
| Accretion of asset retirement obligation | 79 | — |
| Loss on sale of fixed assets and deposit on equipment, net | 553 | 22 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 277 | 44 |
| Prepaid expenses and other current assets | (1,847) | (455) |
| Other long-term assets | — | 1,607 |
| Accounts payable | (2,528) | 1,102 |
| Contract termination liability | — | (667) |
| Deferred revenue | (249) | — |
| Operating lease liabilities | 123 | (30) |
| Other liabilities and customer deposits | 914 | 644 |
| Accrued liabilities and interest payable | (3,709) | 1,042 |
| Net cash used in operating activities | (11,555) | (1,273) |
| Investing Activities | ||
| Purchases of property, plant, and equipment | (9,483) | (7,790) |
| Purchases of intangible assets | (68) | (83) |
| Proceeds from sale of property, plant, and equipment | 32 | — |
| Briscoe acquisition purchase, net of cash acquired | (51,415) | — |
| Deposits on equipment | (4,130) | (476) |
| Net cash used in investing activities | (65,064) | (8,349) |
| Financing Activities | ||
| Proceeds from common stock warrant exercises | 2,553 | — |
| Proceeds from sale of common stock on SEPA | 18,928 | 2,005 |
| Proceeds from notes | 24,500 | 5,269 |
| Proceeds from sale of common stock on ATM | 113,465 | 2,046 |
| Payments on notes and deferred financing costs | (18,026) | (3,275) |
| Payments on Series B dividends | (2,058) | — |
| Costs on treasury stock | (131) | — |
| Payments on financing lease liabilities | (113) | — |
| Purchase of membership interest of Dorothy 1A and Dorothy 1B | (25,266) | — |
| Contributions from non-controlling interest | 10,918 | 11,852 |
| Distributions to non-controlling interest | (5,705) | (3,575) |
| Net cash provided by financing activities | 119,065 | 14,322 |
| Increase (decrease) in cash & restricted cash | 42,446 | 4,700 |
| Cash & restricted cash beginning of period | 88,843 | 10,453 |
| Cash & restricted cash end of period | 131,289 | 15,153 |
| Supplemental Disclosure of Cash Flow Information | ||
| Interest paid on debt | 2,248 | 685 |
| Fair value consideration for Green Cloud issuance of shares | — | 810 |
| Construction in progress included in accounts payable and accrued liabilities | 2,743 | — |
| Warrant consideration in relation to Generate and Yorkville Warrants | 3,249 | — |
| Noncash membership distribution accrual | — | 323 |
| Warrant adjustment | 682 | — |
| Noncash activity right-of-use assets adjustment | 430 | — |
Amounts as printed on the EDGAR/iXBRL face — (Dollars in thousands, except per share); (Dollars in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
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View all filings for SLNH on SEC EDGAR