Filing Flows › Solana (HSDT) › Q1 2026
Solana (HSDT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 15, 2026
Solana (HSDT) reported revenue of $3.6M for the first quarter 2026 (Q1 2026), up 74-fold from a year earlier and -31% from the quarter before.
Solana, Q1 2026: revenue $3.6M (74× year over year), net loss $99.8M, operating cash flow −$4.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6M | -31% | 74× |
| Operating profit | −$99.6M | — | — |
| Net earnings | −$99.8M | -131% | — |
| Operating cash flow | −$4.8M | — | — |
What changed
Revenue was $3.6M in Q1 2026, up 7290% year over year and down 31% from the previous quarter.
Gross margin was 95.0%. Operating costs exceeded revenue by $99.6M, an operating margin of -2751.1%. The quarter ended with a net loss of $99.8M, after a profit of $325.6M the previous quarter.
Operating cash flow was −$4.8M. Non-cash charges added back $90K of share-based compensation. Working capital and other items added $94.9M.
Questions
What was Solana's revenue in the first quarter 2026?
Solana (HSDT) reported revenue of $3.6M for the first quarter 2026 (Q1 2026), up 74-fold from a year earlier and -31% from the quarter before.
Source: Solana 10-Q on SEC EDGAR.