Solana Company Financials
This page shows Solana Company (HSDT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 became a balance-sheet transformation, with capital raised and redeployed into assets far outpacing what the underlying business generates.
FY2025 looks like a financing-and-deployment year:$449.2M of financing cash was followed by$426.5M of investing outflow. Because assets ended at$303.9M while liabilities were only$3.0M , the balance sheet was rebuilt mainly with equity capital, so the asset jump reflects capital allocation more than a sudden step-change in the operating business.
The operating engine still does not fund itself: revenue was only
Product-level economics improved sharply, as gross margin swung from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Solana Company's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Solana Company has an operating margin of -4052.5%, meaning the company retains $-4053 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -2673.7% the prior year.
Solana Company's revenue surged 1057.1% year-over-year to $6.0M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Solana Company carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 10.33, Solana Company holds $10.33 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Solana Company generates a -13.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -1104.8% the prior year.
Solana Company passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Solana Company generates $0.40 in operating cash flow (-$16.5M OCF vs -$40.9M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Solana Company generated $6.0M in revenue in fiscal year 2025. This represents an increase of 1057.1% from the prior year.
Solana Company reported -$40.9M in net income in fiscal year 2025. This represents a decrease of 249.6% from the prior year.
Solana Company earned $-1.85 per diluted share (EPS) in fiscal year 2025. This represents an increase of 99.9% from the prior year.
Cash & Balance Sheet
Solana Company held $7.3M in cash against $0 in long-term debt as of fiscal year 2025.
Solana Company had 41M shares outstanding in fiscal year 2025. This represents an increase of 836638.2% from the prior year.
Margins & Returns
Solana Company's gross margin was 91.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 103.6 percentage points from the prior year.
Solana Company's operating margin was -4052.5% in fiscal year 2025, reflecting core business profitability. This is down 1378.9 percentage points from the prior year.
Solana Company's net profit margin was -679.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1570.3 percentage points from the prior year.
Solana Company's ROE was -13.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1091.2 percentage points from the prior year.
Capital Allocation
Solana Company invested $3.5M in research and development in fiscal year 2025. This represents a decrease of 4.0% from the prior year.
HSDT Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.6M-30.7% | $5.2M+650.1% | $697K+1520.9% | $43K-12.2% | $49K-67.8% | $152K+198.0% | $51K-72.0% | $182K |
| Cost of Revenue | $180K0.0% | $180K+74.8% | $103K+7.3% | $96K-20.7% | $121K-21.4% | $154K-17.6% | $187K+58.5% | $118K |
| Gross Profit | $3.4M-31.8% | $5.0M+749.8% | $594K+1220.8% | -$53K+26.4% | -$72K-3500.0% | -$2K+98.5% | -$136K-312.5% | $64K |
| R&D Expenses | N/A | $886K+3.3% | $858K+4.4% | $822K-13.0% | $945K+2.3% | $924K-14.2% | $1.1M+23.8% | $870K |
| SG&A Expenses | $5.2M-60.2% | $13.0M+180.7% | $4.6M+89.9% | $2.4M-18.3% | $3.0M+34.0% | $2.2M-21.8% | $2.9M+16.3% | $2.5M |
| Operating Income | -$99.6M+50.5% | -$201.1M-467.2% | -$35.5M-967.1% | -$3.3M+17.2% | -$4.0M-27.5% | -$3.1M+22.7% | -$4.1M-24.5% | -$3.3M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Income | -$99.8M-130.7% | $325.5M+192.3% | -$352.8M-3487.6% | -$9.8M-156.2% | -$3.8M+1.2% | -$3.9M-5.4% | -$3.7M-128.7% | -$1.6M |
| EPS (Diluted) | $-1.30 | N/A | $-32.89+58.7% | $-79.73 | $-0.51 | N/A | $-744.35-53.4% | $-485.30 |
HSDT Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $200.7M-34.0% | $303.9M-36.1% | $475.9M+5929.6% | $7.9M+126.5% | $3.5M-1.6% | $3.5M-36.6% | $5.6M-36.9% | $8.8M |
| Current Assets | $27.8M-10.6% | $31.2M-75.2% | $125.7M+1510.4% | $7.8M+130.5% | $3.4M-1.1% | $3.4M-36.7% | $5.4M-37.4% | $8.6M |
| Cash & Equivalents | $4.4M-39.6% | $7.3M-94.1% | $124.1M+1941.0% | $6.1M+448.1% | $1.1M+1.9% | $1.1M-68.6% | $3.5M-45.7% | $6.4M |
| Inventory | N/A | $1.1M-0.6% | $1.1M-1.1% | $1.1M+2.5% | $1.1M+7.4% | $1.0M+33.9% | $774K-5.7% | $821K |
| Accounts Receivable | N/A | N/A | N/A | $12K | N/A | $70K+180.0% | $25K-79.3% | $121K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.8M-6.8% | $3.0M-99.5% | $628.3M+33553.6% | $1.9M-15.3% | $2.2M-11.2% | $2.5M+39.0% | $1.8M-28.8% | $2.5M |
| Current Liabilities | $2.8M-6.8% | $3.0M-3.9% | $3.1M+73.9% | $1.8M-9.9% | $2.0M-7.4% | $2.2M+44.6% | $1.5M-27.3% | $2.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $197.9M-34.2% | $300.9M+297.5% | -$152.4M-2629.7% | $6.0M+370.6% | $1.3M+20.9% | $1.1M-72.1% | $3.8M-40.1% | $6.3M |
| Retained Earnings | -$312.4M-46.9% | -$212.6M+60.5% | -$538.1M-190.3% | -$185.4M-5.6% | -$175.5M-2.2% | -$171.7M-2.3% | -$167.8M-2.2% | -$164.1M |
HSDT Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.8M+21.8% | -$6.2M-52.7% | -$4.0M-46.7% | -$2.8M+22.0% | -$3.5M-48.7% | -$2.4M+14.2% | -$2.8M+4.2% | -$2.9M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0 |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$2.4M+14.2% | -$2.8M+4.2% | -$2.9M |
| Investing Cash Flow | $5.5M+103.4% | -$159.1M | N/A | N/A | N/A | $0 | $0 | $0 |
| Financing Cash Flow | -$3.5M-107.3% | $48.6M-87.5% | $389.4M+4940.1% | $7.7M+117.2% | $3.6M | $0+100.0% | -$149K-102.6% | $5.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $3.5M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
HSDT Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 95.0%-1.5pp | 96.6%+11.3pp | 85.2%+208.5pp | -123.3%+23.7pp | -146.9%-145.6pp | -1.3%+265.4pp | -266.7%-301.8pp | 35.2% |
| Operating Margin | -2751.1%+1094.7pp | -3845.8%+1240.3pp | -5086.1%+2639.5pp | -7725.6%+460.1pp | -8185.7%-6115.3pp | -2070.4%+5910.0pp | -7980.4%-6183.7pp | -1796.7% |
| Net Margin | -2756.1%-8983.0pp | 6226.8%+56839.2pp | -50612.3%-27744.9pp | -22867.4%-15034.8pp | -7832.6%-5276.1pp | -2556.6%+4670.9pp | -7227.5%-6341.7pp | -885.7% |
| Return on Equity | -50.4%-158.6pp | 108.2% | N/A | -163.2%+136.6pp | -299.8%+67.1pp | -367.0%-269.9pp | -97.0%-71.6pp | -25.4% |
| Return on Assets | -49.7%-156.8pp | 107.1%+181.2pp | -74.1%+50.5pp | -124.6%-14.4pp | -110.2%-0.4pp | -109.7%-43.7pp | -66.0%-47.8pp | -18.2% |
| Current Ratio | 9.90-0.4 | 10.33-29.7 | 40.03+35.7 | 4.32+2.6 | 1.69+0.1 | 1.58-2.0 | 3.61-0.6 | 4.20 |
| Debt-to-Equity | 0.010.0 | 0.01+4.1 | -4.12-4.4 | 0.31-1.4 | 1.72-0.6 | 2.34+1.9 | 0.47+0.1 | 0.40 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -1564.5%+3868.9pp | -5433.3%-3844.9pp | -1588.5% |
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Frequently Asked Questions
What is Solana Company's annual revenue?
Solana Company (HSDT) reported $6.0M in total revenue for fiscal year 2025. This represents a 1057.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Solana Company's revenue growing?
Solana Company (HSDT) revenue grew by 1057.1% year-over-year, from $520K to $6.0M in fiscal year 2025.
Is Solana Company profitable?
No, Solana Company (HSDT) reported a net income of -$40.9M in fiscal year 2025, with a net profit margin of -679.7%.
What is Solana Company's gross margin?
Solana Company (HSDT) had a gross margin of 91.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Solana Company's operating margin?
Solana Company (HSDT) had an operating margin of -4052.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Solana Company's net profit margin?
Solana Company (HSDT) had a net profit margin of -679.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Solana Company's return on equity (ROE)?
Solana Company (HSDT) has a return on equity of -13.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Solana Company's operating cash flow?
Solana Company (HSDT) generated -$16.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Solana Company's total assets?
Solana Company (HSDT) had $303.9M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Solana Company spend on research and development?
Solana Company (HSDT) invested $3.5M in research and development during fiscal year 2025.
What is Solana Company's current ratio?
Solana Company (HSDT) had a current ratio of 10.33 as of fiscal year 2025, which is generally considered healthy.
What is Solana Company's debt-to-equity ratio?
Solana Company (HSDT) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Solana Company's return on assets (ROA)?
Solana Company (HSDT) had a return on assets of -13.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Solana Company's cash runway?
Based on fiscal year 2025 data, Solana Company (HSDT) had $7.3M in cash against an annual operating cash burn of $16.5M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Solana Company's Piotroski F-Score?
Solana Company (HSDT) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Solana Company's earnings high quality?
Solana Company (HSDT) has an earnings quality ratio of 0.40x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Solana Company?
Solana Company (HSDT) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.