Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2015 | FY2016 | FY2017 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $6.57M | $595K | $14.3M | $28.5M | $21.1M | $38.0M | $29.7M |
| Revenue growth | — | — | — | — | -90.9% | 2310.9% | 99.0% | -26.2% | 80.5% | -21.8% |
| Gross profit | — | — | — | — | — | — | — | $2.77M | -$23.7M | $1.80M |
| Gross margin | — | — | — | — | — | — | — | 13.1% | -62.4% | 6.1% |
| Operating income | -$1.47M | -$361K | $588K | $259K | -$1.64M | -$4.48M | -$84.8M | -$20.2M | -$47.5M | -$33.7M |
| Operating margin | — | — | — | 3.9% | -276.0% | -31.2% | -297.0% | -96.1% | -125.0% | -113.3% |
| Net income | -$2.83M | -$359K | $582K | $323K | $1.95M | -$5.26M | -$98.7M | -$29.2M | -$63.3M | -$53.4M |
| Net margin | — | — | — | 4.9% | 327.1% | -36.7% | -345.8% | -138.6% | -166.6% | -179.7% |
| EPS (diluted) | -$0.54 | -$0.06 | $0.06 | $0.03 | $0.20 | -$0.50 | -$174.41 | -$27.79 | -$14.94 | -$2.38 |
| Fiscal year | FY2015 | FY2016 | FY2017 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1.43M | $522K | $363K | $289K | -$1.21M | $4.63M | -$6.12M | -$2.99M | -$5.07M | -$9.15M |
| Capital expenditures | $55.0K | $136K | $107K | $83.0K | $805K | $45.8M | $63.7M | $12.7M | $8.85M | $28.1M |
| Free cash flow | -$1.48M | $386K | $256K | $206K | -$2.02M | -$41.2M | -$69.8M | -$15.7M | -$13.9M | -$37.2M |
| Share buybacks | $0.00 | $10.0K | $0.00 | — | — | — | — | — | $0.00 | $75.0K |
| Dividends paid | — | — | — | $3.54M | $0.00 | $630K | — | — | — | — |
| Fiscal year | FY2015 | FY2016 | FY2017 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $462K | — | — | — | — | — | — | — | — | — |
| Total assets | $2.59M | $5.18M | $6.20M | $5.75M | $8.65M | $118M | $85.0M | $91.3M | $88.0M | $188M |
| Total liabilities | — | — | — | $1.92M | $2.73M | $26.7M | $38.7M | $37.9M | $60.7M | $75.7M |
| Long-term debt | — | — | — | — | — | — | $13.0M | — | $7.06M | $17.9M |
| Shareholders' equity | $1.53M | $4.15M | $4.96M | $3.83M | $5.92M | $38.7M | $41.9M | $26.5M | -$12.5M | $53.5M |
| Retained earnings | -$121M | -$121M | -$120M | -$120M | -$118M | -$123M | -$222M | -$251M | -$314M | -$368M |
| Shares (wtd avg diluted) | 5.26M | 5.99M | 9.33M | 9.60M | 9.58M | 11.8M | 599K | 1.31M | 5.11M | 29.0M |
Every figure is extracted from Soluna Holdings, Inc’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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