Filing Flows › Solana (HSDT) › Q1 2025
Solana (HSDT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Solana (HSDT) reported revenue of $49K for the first quarter 2025 (Q1 2025), -64% from a year earlier and -68% from the quarter before.
Solana, Q1 2025: revenue $49K (-64% year over year), net loss $3.8M, operating cash flow −$3.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $49K | -68% | -64% |
| Operating profit | −$4.0M | — | — |
| Net earnings | −$3.8M | — | — |
| Operating cash flow | −$3.5M | — | — |
What changed
Revenue was $49K in Q1 2025, down 64% year over year and down 68% from the previous quarter.
Operating costs exceeded revenue by $4.0M, an operating margin of -8185.7%. The fastest-growing cost line was Research & development (+20%). The quarter ended with a net loss of $3.8M, narrower than the previous quarter's $3.9M loss.
Operating cash flow was −$3.5M. Non-cash charges added back $8K of depreciation and $622K of share-based compensation. Working capital and other items used $328K.
Questions
What was Solana's revenue in the first quarter 2025?
Solana (HSDT) reported revenue of $49K for the first quarter 2025 (Q1 2025), -64% from a year earlier and -68% from the quarter before.
Source: Solana 10-Q on SEC EDGAR.