Solana Co
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $6.0M | $520,000 | $644,000 | $787,000 | $522,000 |
| Selling, general & administrative | $23.1M | $10.2M | $9.3M | $10.6M | $12.2M |
| Research and development | $3.5M | $3.7M | $2.9M | $4.3M | $6.0M |
| Operating expenses | $249.4M | $13.8M | $12.5M | $15.8M | $18.4M |
| Operating income | -$243.8M | -$13.9M | -$12.4M | -$15.5M | -$18.1M |
| Pretax income | -$40.9M | -$11.7M | -$8.8M | -$14.1M | -$18.1M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$40.9M | -$11.7M | -$8.8M | -$14.1M | -$18.1M |
| Balance Sheet | |||||
| Cash and equivalents | $7.3M | $1.1M | $5.2M | $14.5M | $11.0M |
| Current assets | $31.2M | $3.4M | $7.4M | $16.7M | $12.6M |
| Total assets | $303.9M | $3.5M | $7.7M | $17.3M | $14.1M |
| Current liabilities | $3.0M | $2.2M | $1.9M | $2.0M | $2.7M |
| Total liabilities | $3.0M | $2.5M | $5.3M | $9.1M | $2.8M |
| Stockholders' equity | $300.9M | $1.1M | $2.4M | $8.2M | $11.3M |
| Cash Flow Statement | |||||
| Cash from operations | -$16.5M | -$11.0M | -$10.4M | -$14.3M | -$13.4M |
| Depreciation and amortization | — | $36,000 | $45,000 | $74,000 | $112,000 |
| Stock-based compensation | $9.2M | $2.5M | $1.6M | $2.3M | $4.3M |
| Capital expenditure | — | $5,000 | $29,000 | $17,000 | $54,000 |
| Free cash flow | — | -$11.0M | -$10.4M | -$14.3M | -$13.4M |
| Dividends paid | — | — | — | — | $0 |
| Impairments | — | $40,000 | $159,000 | $757,000 | — |
Shares outstanding 58.4M · Free float 11.0%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.