Soluna (NASDAQ:SLNH) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Soluna (NASDAQ:SLNH) announced its quarterly earnings results on Thursday. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07), FiscalAI reports. Soluna had a negative net margin of 190.87% and a negative return on equity of 64.80%. The firm had revenue of $15.06 million during the quarter, compared to analyst estimates of $15.70 million.

Here are the key takeaways from Soluna’s conference call:

• Revenue increased 145% year over year to $15.1 million, marking the fifth consecutive quarter of sequential growth. Excluding the new gross presentation of pass-through electricity costs, revenue still grew 73% year over year and 13% sequentially.
• Soluna strengthened its AI infrastructure portfolio by acquiring the 150-megawatt Briscoe Wind Farm, consolidating full ownership of Project Dorothy 1, and advancing the 350-plus-megawatt Kati 2 and 300-plus-megawatt Dorothy 3 campuses. Its total power pipeline expanded to approximately 6.3 gigawatts, including more than 1.6 gigawatts in AI development.
• Liquidity improved materially, with $113 million in cash available for operations and development and total debt of $33.1 million at quarter-end. Management plans to finance large AI campuses primarily through project-level debt backed by contracted tenant cash flows, potentially limiting corporate balance-sheet requirements.
• Gross profit fell 35% year over year to $766,000, while net loss widened to $22.6 million from $7.8 million. Results were pressured by startup costs at Kati 1, approximately $1.5 million of Briscoe repairs and maintenance, higher interest expense, and a 40% decline in proprietary mining revenue as hash prices weakened.
• Management said Soluna’s energized, behind-the-meter Texas sites should have limited direct exposure to the state’s ERCOT data-center queue audit, but acknowledged that the review process is still developing. Kati 2 has a tenant letter of intent and is targeting initial readiness roughly 15 months after a signed contract, while Dorothy 3 formal marketing is expected to begin in the fall.

Soluna Stock Performance

NASDAQ SLNH traded up $0.01 during midday trading on Friday, hitting $1.31. The company had a trading volume of 8,808,793 shares, compared to its average volume of 13,029,278. Soluna has a fifty-two week low of $0.41 and a fifty-two week high of $5.14. The stock has a market cap of $207.44 million, a price-to-earnings ratio of -0.81 and a beta of 5.13. The firm has a fifty day simple moving average of $1.33 and a two-hundred day simple moving average of $1.21. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.16.

Insiders Place Their Bets

In other Soluna news, CFO Michael Picchi acquired 100,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was bought at an average price of $1.63 per share, for a total transaction of $163,000.00. Following the purchase, the chief financial officer owned 1,381,250 shares in the company, valued at $2,251,437.50. This represents a 7.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 10.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SLNH. Focus Partners Wealth bought a new stake in Soluna during the 3rd quarter worth approximately $25,000. Scientech Research LLC acquired a new position in shares of Soluna during the third quarter worth approximately $31,000. Squarepoint Ops LLC acquired a new position in shares of Soluna during the fourth quarter worth approximately $30,000. XTX Topco Ltd grew its stake in shares of Soluna by 59.3% during the fourth quarter. XTX Topco Ltd now owns 128,294 shares of the company’s stock valued at $150,000 after purchasing an additional 47,781 shares during the last quarter. Finally, Vident Advisory LLC bought a new position in Soluna in the 4th quarter valued at $67,000. 23.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SLNH shares. HC Wainwright started coverage on Soluna in a research report on Monday, July 20th. They issued a “buy” rating and a $4.00 price target for the company. Zacks Research raised Soluna to a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings raised Soluna from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. Finally, Wall Street Zen upgraded Soluna from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Soluna has an average rating of “Hold” and a consensus price target of $4.00.

About Soluna

Soluna Computing, Inc (NASDAQ: SLNH) is a renewable energy and computing company that develops, constructs and operates utility?scale wind and solar projects designed to power high-performance computing workloads. By integrating power generation with data processing infrastructure, Soluna targets applications such as cryptocurrency mining, blockchain validation, artificial intelligence training and other cloud?based or on-premises computing tasks that can flex to available renewable output.

The company manages the full project lifecycle—site selection, permitting, engineering, procurement, construction and operations—with a focus on regions that offer abundant wind or solar resources yet face limitations in grid infrastructure.