Quarterly ResultAug 13, 2026, 04:09 PM
Soluna Holdings Q2 Revenue Up 145% YoY to $15.1M; Net Loss $22.6M
AI Summary
Soluna Holdings reported its second quarter 2026 financial results, with revenue increasing 145% year-over-year to $15.1 million. Despite sequential revenue growth, gross profit decreased to $766 thousand, and the company posted a net loss of $22.6 million, primarily due to a loss on debt extinguishment and Briscoe maintenance costs. Operationally, Soluna completed vertical integration at Project Dorothy 1, expanded its development pipeline to 6.3 GW with significant AI capacity, and entered a joint venture for Project Kati 2.
Key Highlights
- Revenue grew 145% year-over-year to $15.1 million in Q2 2026.
- Gross profit was $766 thousand in Q2 2026, down from $1.9 million in Q1.
- Net loss was $22.6 million in Q2 2026, compared to $17.9 million in Q1.
- Adjusted EBITDA Loss improved 25% sequentially to $1.6 million.
- Ended Q2 with $113.4 million in unrestricted cash and $33.1 million in total debt.
- Expanded development pipeline to approximately 6.3 GW, including 583 MW of AI projects.
- Completed vertical integration at Project Dorothy 1 through multiple acquisitions.
- Signed Kati 2 AI Joint Venture with Metrobloks for up to 350 MW capacity.
Price Impact
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