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Discontinued — last reported Q1 '26

Net debt at other companies

Cloudflare, Inc. logo
Cloudflare, Inc.NET
-5×-5.4×
Zscaler logo
ZscalerZS
19.2×+12.3×
Citigroup logo
CitigroupC
0.1×-0.3×
Morgan Stanley logo
Morgan StanleyMS
-0.2×
Wells Fargo & Company logo
Wells Fargo & CompanyWFC
0.6×-1.3×
American Express logo
American ExpressAXP
0.3×+0.3×

Other financials

Income statement

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Revenue$9.4M+58.3%
Gross profit$1.9M+63.3%
Operating income-$16.6M-132%
Net income-$17.5M-131%
EPS (diluted)-$0.24+80.2%

Balance sheet

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Cash & equivalents$68.6M+649%
Total debt$28.0M+167%
Total equity$47.2M+394%
Total assets$190.4M+111%

Cash flow

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Operating cash flow-$6.4M-3,500%
CapEx$2.6M-27.4%
Free cash flow-$8.9M-141%

Valuation

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Market cap$192.45M+1,456%
Enterprise value$151.87M+1,087%
P/S5.8×+5.4×

Profitability

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Gross margin21.7%+9.2pp
Operating margin-130%-26.7pp
Net margin-195.6%-7.9pp
FCF margin-127.9%+1,415pp

Returns & leverage

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Return on equity-438%-676pp
Debt / equity0.6×
Current ratio1.7×+1.4×

Where this comes from

Calculated from Soluna Holdings, Inc.’s reported figures.

The source filing: Soluna Holdings, Inc.’s 10-Q, filed May 15, 2026. Open the filing →

Filed
May 15, 2026, 4:02 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-035538

FAQ

What is Soluna Holdings, Inc.'s net debt?
Soluna Holdings, Inc. (SLNH) reported net debt of -$40.58M in Q1 2026.
How has Soluna Holdings, Inc.'s net debt changed year-over-year?
Soluna Holdings, Inc.'s net debt decreased by 3158.0% year-over-year, from $1.33M to -$40.58M.
What is the long-term trend for Soluna Holdings, Inc.'s net debt?
Over 5 years (2020 to 2025), Soluna Holdings, Inc.'s net debt has grown at a 84.6% compound annual growth rate (CAGR), from -$2.2M to -$47.16M.
What does net debt mean?
Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

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