Quarterly ResultMay 18, 2026, 06:07 AM
SOL Strategies Reports Q2 Net Loss $101.7M; Assets Halved to $85.8M
AI Summary
SOL Strategies Inc. reported a significant net loss of $101.7 million for the six months ended March 31, 2026, a substantial increase from the $1.6 million loss in the prior year. Total assets decreased by nearly 50% to $85.8 million, primarily due to a sharp decline in cryptocurrency holdings and impairment losses on intangible assets. Management also concluded that the company's internal control over financial reporting was not effective as of March 31, 2026.
Key Highlights
- Net loss for six months ended March 31, 2026, was $101.7 million, up from $1.6 million in 2025.
- Basic and diluted net loss per share was $3.43, compared to $0.09 in the prior year.
- Total assets decreased to $85.86 million from $169.60 million at September 30, 2025.
- Cryptocurrencies holdings declined to $60.66 million from $126.53 million.
- Revaluation loss on digital assets totaled $56.52 million for the period.
- Impairment losses on intangible assets amounted to $12.11 million.
- Cash and cash equivalents decreased to $367,528 from $1.79 million.
- Management concluded internal control over financial reporting was not effective.
Price Impact
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