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Solana (HSDT) R&D spending by quarter

Solana's R&D spending was $886K in Q4 2025 (fourth quarter 2025), +3% from Q3 2025. Over the last 5 quarters it ranged from $822K (Q2 2025) to $945K (Q1 2025).

Solana R&D spending by quarterSolana R&D spending by quarter$924KQ4 2024$945KQ1 2025$822KQ2 2025$858KQ3 2025$886KQ4 2025
QuarterR&D spendingQ/QY/Y
Q4 2025$886K+3%-4%
Q3 2025$858K+4%—
Q2 2025$822K-13%—
Q1 2025$945K+2%—
Q4 2024$924K——

Q4 2025 at a glance

Solana, Q4 2025: revenue $5.2M (34× year over year), net earnings $326M, operating cash flow −$6.2M. The chart follows the revenue to costs, profit and cash.

Questions

What is Solana's R&D spending?

Solana's R&D spending was $886K in Q4 2025 (fourth quarter 2025), +3% from Q3 2025.

How has Solana's R&D spending changed?

Over the last 5 quarters it ranged from $822K (Q2 2025) to $945K (Q1 2025).

Q4 2025 results → · How Solana makes money →