Filing Flows › Soluna Holdings (SLNH) › Q1 2026 › vs Q1 2025
Soluna Holdings (SLNH) Q1 2026 vs Q1 2025 (year over year)
Soluna Holdings's revenue rose $3.5M (+58%) from $5.9M in Q1 2025 to $9.4M in Q1 2026. The biggest changes: External Customers +$3.5M (+64%); Demand response service revenue +$30K (+6%).
Soluna Holdings, Q1 2026: revenue $9.4M (+58% year over year), operating margin -177.0%, net loss $17.9M, operating cash flow −$6.4M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Data hosting revenue | $6.7M | $2.4M | $4.3M | +178% |
| Cryptocurrency mining revenue | $2.2M | $3.0M | −$830K | -28% |
| External Customers | $8.9M | $5.4M | $3.5M | +64% |
| Demand response service revenue | $537K | $507K | $30K | +6% |
| Revenue | $9.4M | $5.9M | $3.5M | +58% |
| Income tax benefit | $624K | $425K | $199K | +47% |
| Net loss | $17.9M | $7.4M | $10.5M | +143% |
| Costs & expenses | $27.9M | $13.7M | $14.2M | +104% |
| Operating costs | $26.0M | $13.1M | $12.9M | +98% |
| Interest & other, net | $1.9M | $602K | $1.3M | +216% |
| Cost of revenue | $8.9M | $5.6M | $3.3M | +59% |
| Operating expenses | $17.1M | $7.5M | $9.6M | +128% |
| Operating cash sources | $19.0M | $4.4M | $14.6M | +329% |
| Depreciation & amortization | $2.4M | $2.4M | −$3K | -0.1% |
| Share-based compensation | $10.2M | $1.8M | $8.4M | +453% |
| Cash used in operations | $6.4M | $177K | $6.2M | 36× |
| Net loss absorbed | $17.9M | $7.4M | $10.5M | +143% |
| Working capital & other | $1.1M | −$2.9M | $4.0M | — |
Questions
How much did Soluna Holdings's revenue grow year over year in Q1 2026?
Soluna Holdings's revenue rose $3.5M (+58%) from $5.9M in Q1 2025 to $9.4M in Q1 2026.
What drove Soluna Holdings's revenue change in Q1 2026?
External Customers +$3.5M (+64%); Demand response service revenue +$30K (+6%).