SOL Strategies Reports Financial Results for Fiscal Year Ended September 30, 2025

Rhea-AI Summary

SOL Strategies (NASDAQ: STKE) reported full-year results for the fiscal year ended September 30, 2025, with revenue of CAD$14.5M, up 36.7% YoY. The company held 435,159 SOL (≈CAD$126.4M) as of Sept 30, 2025, versus 100,763 SOL (≈CAD$20.8M) a year earlier.

Key revenue lines included validator rewards CAD$5.4M (was nil in FY2024) and staking rewards CAD$4.8M (up from CAD$0.3M). Adjusted EBITDA declined to approximately CAD$4.2M from CAD$9.5M in FY2024. The company will host a webcast and conference call on Jan 6, 2026 at 4:30 PM EST.

Positive

• Revenue +36.7% YoY to CAD$14.5M
• Total holdings 435,159 SOL (~CAD$126.4M) as of Sept 30, 2025
• Validator rewards contributed CAD$5.4M in FY2025
• Staking rewards of CAD$4.8M in FY2025 (up from CAD$0.3M)

Negative

• Adjusted EBITDA down from CAD$9.5M to CAD$4.2M

Key Figures

FY2025 revenue CAD$14.5 million Fiscal year ended September 30, 2025; up 36.7% from CAD$10.6 million in 2024

Revenue growth 36.7% Year-over-year growth for fiscal year ended September 30, 2025

SOL holdings FY2025 435,159 SOL (~CAD$126.4 million) As of September 30, 2025; up from 100,763 SOL (~CAD$20.8 million) in 2024

Validator rewards revenue CAD$5.4 million Fiscal year ended September 30, 2025; up from $nil in 2024

Staking rewards revenue CAD$4.8 million Fiscal year ended September 30, 2025; up from CAD$0.3 million in 2024

Adjusted EBITDA FY2025 CAD$4.2 million Fiscal year ended September 30, 2025; down from CAD$9.5 million in 2024

Market Reality Check

$1.78 Last Close

Volume Volume 336,318 is above the 20-day average of 233,553 (relative volume 1.44). normal

Technical Price 1.56 is trading below the 200-day MA at 3.55, near the 52-week low of 1.55 and far from the 13.64 52-week high.

Peers on Argus 1 Up 1 Down

STKE fell 7.69% while peers showed mixed moves: names like NCTY, MATH, BTCS and SIEB were down, but scanner activity also flagged an upside move in BTM, indicating stock-specific pressure rather than a broad sector trend.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 29	Earnings call timing	Neutral	+0.0%	Announced date and details for year-end 2025 earnings call and webcast.
Dec 04	Monthly business update	Positive	+1.1%	Highlighted new institutional staking mandate, balance sheet actions, and SOL metrics.
Nov 17	ETF staking mandate	Positive	-8.7%	Named staking provider for VanEck Solana ETF using institutional-grade validator.
Nov 14	Corrective disclosure refiling	Negative	-8.7%	Refiling financials after auditor-identified errors and debt reclassification.
Nov 05	Investor conferences	Positive	+7.0%	Planned participation in crypto and disruptive tech investor conferences.

Pattern Detected

Recent news often aligned with price moves: operational updates and conferences saw modest gains, corrective disclosure coincided with declines, while one positive ETF-staking announcement showed a notable negative divergence.

Recent Company History

Over the last few months, SOL Strategies has moved from conference participation and operational updates to more material developments. In November 2025 it announced participation in investor conferences and then disclosed corrective financial refilings tied to regulator review. Subsequent news highlighted selection as staking provider for a VanEck Solana ETF and a November business update with growing Solana exposure and deleveraging actions. The latest fiscal-year results build on this trajectory with detailed revenue, SOL holdings, and profitability metrics for the year ended September 30, 2025.

Market Pulse Summary

This announcement details SOL Strategies’ fiscal 2025 performance, highlighting revenue of CAD$14.5 million, up 36.7% year over year, and increased SOL holdings of 435,159 SOL (~CAD$126.4 million). New validator and staking lines generated CAD$5.4 million and CAD$4.8 million respectively, while adjusted EBITDA declined to CAD$4.2 million from CAD$9.5 million. Investors may focus on sustainability of growth, profitability trends, and commentary from the upcoming webcast.

Key Terms

adjusted EBITDA financial

"Adjusted EBITDA of approximately CAD$4.2mm for the fiscal year ended September 30, 2025"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

validator rewards technical

"Revenue generated by validator rewards for the fiscal year ended September 30, 2025"

Rewards paid to network participants called validators for confirming transactions and keeping a blockchain secure; think of them as the pay those who guard and process a digital ledger receive for their work. These payments matter to investors because they affect the supply and demand of the network’s token, create potential income for people who lock up tokens, and influence the perceived security and long-term value of the system—similar to how interest or dividend policies affect stock value.

staking rewards technical

"Revenue generated by staking rewards for the fiscal year ended September 30, 2025"

Staking rewards are incentives given to individuals who commit their cryptocurrency holdings to support a blockchain network's operations, such as confirming transactions and maintaining security. Think of it like earning interest or dividends for locking up your savings or investments, encouraging people to keep their assets engaged in keeping the system running smoothly. For investors, staking rewards provide a way to earn passive income while helping to secure the network.

AI-generated analysis. Not financial advice.

Revenues grow 36.7% year over year

Toronto, Ontario--(Newsfile Corp. - December 31, 2025) - SOL Strategies Inc. (CSE: HODL) (NASDAQ: STKE) ("SOL Strategies" or the "Company"), one of the first publicly traded companies dedicated to growing and building the Solana Economy, today announced it released its financial results for the year ended September 30, 2025. The Company will host a webcast and conference call on Tuesday, January 6, 2026 at 4:30pm EST.

The Company's financial statements and management discussion & analysis are available on SEDAR+ at www.sedarplus.ca.

Financial Highlights for the Fiscal Year Ended September 30, 2025:

• Revenue for the fiscal year ended September 30, 2025, of approximately CAD$14.5. million, up 36.7% from CAD$10.6 million in the same period in 2024

• Total SOL holdings as of September 30, 2025 of 435,159 SOL (~CAD $126.4 million) up from 100,763 SOL (~CAD $20.8 million) from September 30, 2024

• Revenue generated by validator rewards for the fiscal year ended September 30, 2025 of approximately CAD$5.4mm up from $nil for the fiscal year ended September 30, 2024

• Revenue generated by staking rewards for the fiscal year ended September 30, 2025 of approximately CAD$4.8mm up from CAD$0.3mm for the fiscal year ended September 30, 2024

• Adjusted EBITDA of approximately CAD$4.2mm for the fiscal year ended September 30, 2025 down from CAD$9.5mm for the fiscal year ended September 30, 2024

Financial Results Webcast and Conference Call:

The Company will host a webcast and conference call to discuss these financial results on Tuesday, January 6, 2026 at 4:30pm EST. To register to participate in the conference call, please use the dial-in instructions or webcast link below. The webcast will also be available for replay via the investor relations section of the Company's website https://solstrategies.io/investors/.

Event: SOL Strategies, Inc. Year End 2025 Financial Results Webcast and Conference Call
Webcast Date: Tuesday, January 6, 2026, at 4:30 PM EST
Live Call: (800) 274-8461 (U.S.) or (203) 518-9814 (International), Conference ID: SOLQ425
Webcast Link: https://event.on24.com/wcc/r/5131494/5D26EC1371A09C1498900CBBC438CC29

Interim CEO Michael Hubbard, CFO Doug Harris, COO Andrew McDonald and CTO Max Kaplan will host the live webcast and conference call to review the results and answer questions. Investors, analysts, and stakeholders are encouraged to attend the call to hear more about the Company's recent milestones and growth outlook.

About SOL Strategies

SOL Strategies Inc. (CSE: HODL) (NASDAQ: STKE) is a Canadian investment company that operates at the forefront of blockchain innovation. Specializing in the Solana ecosystem, the company provides strategic investments and infrastructure solutions to enable the next generation of decentralized applications.

To learn more about SOL Strategies, please visit www.solstrategies.io. A copy of this news release an all the Company's related material documents regarding the Company may be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov.

Investor Contact:
John Ragozzino, CFA
solstrategies@icrinc.com
203.682.8284

Media Contact: solstrategies@scrib3.co

Cautionary Note Regarding Forward-Looking Information:

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements and information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the Company's or the Company's management team's expectations, hopes, beliefs, intentions or strategies regarding the future, and expectations regarding the characteristics, value drivers, and anticipated benefits of the Company's business plans and operations related thereto. Forward-looking information can also be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or indicates that certain actions, events or results "may", "could", "would", "might" or "will be" taken, "occur" or "be achieved".

Forward-looking statements in this news release include statements regarding the Company's financial results webcast, growth outlook, and expectations regarding its business operations and the Solana ecosystem. There is no assurance that the Company's plans or objectives will be implemented as set out herein, or at all. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made and is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information.

The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking statements are made based on management's beliefs, estimates, and opinions on the date that statements are made, and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates, and opinions or other circumstances should change, except as required by law. Investors are cautioned against attributing undue certainty to forward-looking statements.

Disclaimer:

SOL Strategies is an independent organization in the Solana ecosystem. SOL Strategies is not affiliated with, owned by, or under common control with Solana Foundation (the "Foundation"), and the Foundation has not entered into any association, partnership, joint venture, employee, or agency relationship with SOL Strategies.

None of the Foundation or its council members, officers, agents or make any representations or warranties, recommendations, endorsements or promises with respect to the accuracy of any statements made, information provided, or action taken by SOL Strategies and expressly disclaim any and all liability arising from or related to any such statements, information or action.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279261

FAQ

What were SOL Strategies (STKE) total revenues for fiscal year ended Sept 30, 2025?

CAD$14.5 million, a 36.7% increase year-over-year.

How many SOL did SOL Strategies (STKE) hold as of Sept 30, 2025 and what was the approximate value?

The company held 435,159 SOL, valued at approximately CAD$126.4 million.

How much did validator rewards contribute to SOL Strategies (STKE) FY2025 revenue?

Validator rewards generated approximately CAD$5.4 million in FY2025.

What were SOL Strategies (STKE) staking rewards in FY2025 compared to FY2024?

Staking rewards were approximately CAD$4.8 million in FY2025, up from CAD$0.3 million in FY2024.

What happened to SOL Strategies (STKE) adjusted EBITDA in FY2025?

Adjusted EBITDA fell to approximately CAD$4.2 million from CAD$9.5 million in FY2024.

When is SOL Strategies (STKE) holding its FY2025 financial results webcast?

The webcast and conference call are scheduled for January 6, 2026 at 4:30 PM EST.