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Solana Company Reports Third Quarter 2026 Financial Results

HSDT
  • Solana Company (NASDAQ: HSDT) reported third quarter 2026 results ending September 30, 2026, with $3.4 million in revenue & streamlined operations reducing costs to record lows.
  • The Company priced a $15 million registered direct offering at a 5% premium to net asset value & used proceeds to purchase approximately 125,000 SOL.
  • Pacific Backbone infrastructure moved to operation with 1.3 million SOL total stake delegated, including 1.0 million SOL from third parties.
  • The Company achieved a 5.9% APY staking yield on treasury holdings, outperforming the Solana network average of 4.9% by 100 basis points.
  • Total SOL holdings reached approximately 2.4 million with a fair value of $288.2 million as of September 30, 2026.
  • Diluted share count was approximately 85.2 million, equating to 0.0274 SOL per diluted share.
  • The Company participated in Solana's first onchain governance vote & delivered over 40 institutional education sessions in Asia-Pacific.
  • Year-to-date revenue reached $9.5 million, driven by $3.3 million in staking revenue during the quarter alone.
  • The Company repurchased approximately $2.8 million of Class A stock (1.4 million shares) during the quarter, bringing year-to-date buybacks to $8.7 million.
  • General & administrative expenses fell to $3.4 million in the quarter from $5.5 million in the prior-year period, primarily due to lower bonus expense & professional fees.
  • Net income for the quarter was $105.2 million, or $1.21 per basic share, compared to a net loss of $352.8 million in the prior-year period.
  • Total assets stood at $292.6 million, including $1.1 million in cash & cash equivalents & $252.4 million in long-term digital assets & exposure.
  • Outstanding shares totaled 57.1 million as of September 30, 2026, excluding mezzanine shares & treasury stock.
Company
Solana Company
Keywords
Nasdaq:HSDT, Solana Company