Filing Flows › Solana (HSDT) › Q2 2025
Solana (HSDT) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 14, 2025
Solana (HSDT) reported revenue of $43K for the second quarter 2025 (Q2 2025), -76% from a year earlier and -12% from the quarter before.
Solana, Q2 2025: revenue $43K (-76% year over year), net loss $9.8M, operating cash flow −$2.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $43K | -12% | -76% |
| Operating profit | −$3.3M | — | — |
| Net earnings | −$9.8M | — | — |
| Operating cash flow | −$2.8M | — | — |
What changed
Revenue was $43K in Q2 2025, down 76% year over year and down 12% from the previous quarter.
Operating costs exceeded revenue by $3.3M, an operating margin of -7725.6%. The quarter ended with a net loss of $9.8M, wider than the previous quarter's $3.8M loss. Net interest and other expense of $6.5M was the main reason.
Operating cash flow was −$2.8M. Non-cash charges added back $9K of depreciation and $409K of share-based compensation. Working capital and other items added $6.7M.
Questions
What was Solana's revenue in the second quarter 2025?
Solana (HSDT) reported revenue of $43K for the second quarter 2025 (Q2 2025), -76% from a year earlier and -12% from the quarter before.
Source: Solana 10-Q on SEC EDGAR.