Solana Company reported QQ1 2026 results showing meaningful top-line momentum on a tiny base but with a remarkably steep profitability cliff driven by substantial operating and other expenses. Revenue reached $3.621 million, delivering a gross profit of $3.441 million and an impressive gross margin of approximately 95.0%, underscoring the favorable margin profile of the company’s product concept once commercial scale is achieved. However, the quarter’s EBITDA and net income collapsed to a loss of $99.618 million and $99.799 million respectively, reflecting heavy operating outlays and non-cash or one-time charges that overshadow the current revenue run-rate.
Key Performance Indicators
Revenue
Increasing
3.62M
QoQ: 7 289.80% | YoY: 1 889.56%
Gross Profit
Increasing
3.44M
95.03% margin
QoQ: 4 879.17% | YoY: 5 276.56%
Operating Income
Decreasing
-99.62M
QoQ: -2 383.62% | YoY: -2 946.42%
Net Income
Decreasing
-99.80M
QoQ: -2 500.29% | YoY: -6 091.00%
EPS
Decreasing
-1.30
QoQ: 83.01% | YoY: -103.13%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $3.621 million in QQ1 2026, up from a minuscule base in prior periods; YoY growth reported at 1,889.56% and QoQ growth at 7,289.80% (driven by a very small prior-period base). Gross Profit: $3.441 million; Gross Margin: 95.03% (Gross profit $3.441m on revenue $3.621m).
Operating Income: -$99.618 million; Operating Margin: -27.51%. EBITDA: -$99.618 million; EBITDA Margin: -27.51%.
Net Income: -$99.799 million; Net Margin: -27.56%. EPS: -$1.30; Weighted Average Shares Outstanding: 76.736 million.
Other considerations: Total operating expenses stood at $102.879 million; Other expenses were $97.691 million, contributing to the large net loss despite the high gross margin on revenue. These dynamics suggest the company is in an early-stage investment phase with heavy R&D and corporate spend aimed at future commercialization, rather than current profitability.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
3.62M
1 889.56%
7 289.80%
Gross Profit
3.44M
5 276.56%
4 879.17%
Operating Income
-99.62M
-2 946.42%
-2 383.62%
Net Income
-99.80M
-6 091.00%
-2 500.29%
EPS
-1.30
-103.13%
83.01%
Key Financial Ratios
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.
Solana Company (HSDT) QQ2 2024 Earnings Analysis: Medicare and VA Reimbursement Milestones Drive Near-Term Turnaround Prospects in Neurotech Medical D...