Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $478K | $1.50M | $661K | $493K | $778K | $605K | $520K | $548K |
| Revenue growth | — | — | — | 213.0% | -55.8% | -25.4% | 57.8% | -22.2% | -14.0% | 5.4% |
| Gross profit | — | — | $478K | $650K | $273K | $224K | $324K | $61.0K | -$62.0K | $5.52M |
| Gross margin | — | — | 100.0% | 43.4% | 41.3% | 45.4% | 41.6% | 10.1% | -11.9% | 1006.8% |
| Operating income | -$9.32M | -$22.9M | -$26.7M | -$24.0M | -$14.4M | -$18.1M | -$15.5M | -$12.4M | -$13.9M | -$244M |
| Operating margin | — | — | -5580.5% | -1604.0% | -2176.4% | -3679.9% | -1994.3% | -2054.2% | -2673.7% | -44496.4% |
| Net income | -$6.88M | -$28.0M | -$28.6M | -$9.78M | -$14.1M | -$18.1M | -$14.1M | -$8.85M | -$11.7M | -$40.9M |
| Net margin | — | — | -5988.1% | -653.8% | -2137.7% | -3677.9% | -1808.7% | -1462.8% | -2258.1% | -7461.7% |
| EPS (diluted) | -$0.12 | -$1.50 | -$1.26 | -$12.99 | -$11.80 | -$7.38 | -$52.13 | -$14.56 | -$3,282.26 | -$1.85 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.94M | -$19.3M | -$19.6M | -$21.0M | -$11.7M | -$13.4M | -$14.3M | -$10.4M | -$11.0M | -$16.5M |
| Capital expenditures | — | $190K | $440K | $278K | $63.0K | $54.0K | $17.0K | $29.0K | $5.00K | — |
| Free cash flow | — | -$19.5M | -$20.1M | -$21.3M | -$11.8M | -$13.4M | -$14.3M | -$10.4M | -$11.0M | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.64M | — | — | — | — | $11.0M | $14.5M | $5.18M | $1.09M | $7.28M |
| Total assets | $3.45M | $6.81M | $27.8M | $10.3M | $6.55M | $14.1M | $17.3M | $7.69M | $3.54M | $304M |
| Total liabilities | $6.89M | $14.3M | $18.0M | $4.51M | $2.68M | $2.85M | $9.14M | $5.34M | $2.48M | $3.02M |
| Shareholders' equity | -$3.44M | -$7.49M | $9.85M | $5.83M | $3.87M | $11.3M | $8.15M | $2.35M | $1.06M | $301M |
| Retained earnings | -$38.3M | -$66.4M | -$95.0M | -$105M | -$119M | -$137M | -$151M | -$160M | -$172M | -$213M |
| Shares (wtd avg diluted) | 67.0M | 20.2M | 22.8M | 753K | 1.20M | 2.46M | 270K | 608K | 3.58B | 22.0M |
Every figure is extracted from Solana Co’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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