Growth & profitability
- Revenue has declined 21.8% per year over the past 5 years.
Financial health
- Total debt has grown faster than revenue (11.2% vs -21.8% per year).
- Operating income covered interest expense -7.0× in the latest year.
SLNHP Financials Soluna Holdings, Inc
15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | $30M | -$53M | 6.1% | -113.3% | -$37M | $18M | — |
| 2024 | $38M | -$63M | -62.4% | -125.0% | -$14M | $7M | — |
| 2023 | — | -$29M | — | — | -$16M | — | — |
| 2022 | — | -$99M | — | — | -$70M | $13M | — |
| 2021 | — | -$5M | — | — | -$41M | — | — |
| 2020 | — | $2M | — | — | -$2M | — | — |
| 2019 | — | $323000 | — | — | $206000 | — | — |
| 2017 | — | $582000 | — | — | $256000 | — | — |
| 2016 | — | -$359000 | — | — | $386000 | $0 | — |
| 2015 | — | -$3M | — | — | — | — | $462000 |
| 2014 | — | $740000 | — | — | — | — | $2M |
| 2013 | — | $4M | — | — | -$106983 | — | $1M |
| 2012 | — | -$2086 | — | — | -$1489 | — | $289000 |
| 2011 | — | $2M | — | — | -$108000 | — | $1669 |
| 2010 | — | -$2M | — | — | -$2M | — | $1M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | $9M | -$17M | 5.2% | -177.0% | -$9M | $16M | — |
| Dec '25 | — | -$15M | — | — | -$17M | $18M | — |
| Sep '25 | — | -$24M | — | — | -$7M | $13M | — |
| Jun '25 | — | -$7M | — | — | -$10M | $10M | — |
| Mar '25 | $6M | -$8M | 5.7% | -120.9% | -$4M | $10M | — |
| Dec '24 | — | -$40M | — | — | -$7M | $7M | — |
| Sep '24 | — | -$7M | — | — | -$3M | $8M | — |
| Jun '24 | — | -$11M | — | — | -$7M | $9M | — |
| Mar '24 | — | -$5M | — | — | $3M | — | — |
| Dec '23 | — | -$7M | — | — | $1M | — | — |
| Sep '23 | — | -$7M | — | — | -$10M | $1M | — |
| Jun '23 | — | -$9M | — | — | -$3M | $1M | $5M |
| Mar '23 | — | -$7M | — | — | -$4M | — | — |
| Dec '22 | — | -$27M | — | — | -$3M | $13M | — |
| Sep '22 | — | -$56M | — | — | -$16M | $4M | $1M |
| Jun '22 | — | -$7M | — | — | -$26M | $4M | — |
| Mar '22 | — | -$9M | — | — | -$25M | $6M | — |
| Dec '21 | — | -$3M | — | — | -$26M | — | — |
| Sep '21 | — | -$610000 | — | — | -$15M | — | — |
| Jun '21 | — | -$1M | — | — | -$1M | — | — |
Valuation over time
How the market has priced SLNHP against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-sales ratio has risen from 5.9× (Dec '24) to 10.8× (Jun '26).
P/S
Frequently asked questions
Is SLNHP growing its revenue and profit?
Over the past 5 years, Soluna Holdings, Inc's revenue has declined 21.8% per year. These are computed facts, not advice.
How much debt does SLNHP have?
As of FY2025, Soluna Holdings, Inc reported $18M of total debt against — of cash; operating income covered interest expense -7.0×.
What is SLNHP's profit margin?
In FY2025, gross margin was 6.1%, operating margin -113.3%, and net margin -179.7%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.