---
title: "Soluna Holdings Pref Share SLNHP 9 Perp 08/23/26 | 8-K: FY2026 Q1 Revenue: USD 9.394 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286763339.md"
datetime: "2026-05-18T11:32:41.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286763339.md)
  - [en](https://longbridge.com/en/news/286763339.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286763339.md)
generator: "portal-rs"
---

# Soluna Holdings Pref Share SLNHP 9 Perp 08/23/26 | 8-K: FY2026 Q1 Revenue: USD 9.394 M

Revenue: As of FY2026 Q1, the actual value is USD 9.394 M.

EPS: As of FY2026 Q1, the actual value is USD -0.24.

EBIT: As of FY2026 Q1, the actual value is USD -15.15 M.

#### Overall Financial Performance

-   **Total Revenue**: Increased to $9.394 million in Q1 2026 from $5.936 million in Q1 2025, a 58% year-over-year increase, and increased sequentially by 2% or $186 thousand from Q4 2025 to Q1 2026 .
-   **Net Loss**: Increased to -$17.902 million in Q1 2026 from -$7.354 million in Q1 2025, with a sequential increase of $1 million from Q4 2025 to Q1 2026 .
-   **Gross Profit**: Increased to $1.915 million in Q1 2026 from $1.173 million in Q1 2025, and sequentially from $1.8 million to $1.9 million .
-   **Operating Loss**: Increased to -$16.626 million in Q1 2026 from -$7.177 million in Q1 2025 .
-   **EBITDA**: Was -$12.442 million in Q1 2026, compared to -$3.062 million in Q1 2025 .
-   **Adjusted EBITDA**: Was -$2.092 million in Q1 2026, compared to -$1.648 million in Q1 2025, with an improvement of $1.9 million (47%) sequentially from Q4 2025 to Q1 2026 .

#### Revenue by Segment

-   **Cryptocurrency Mining Revenue**: $2.169 million in Q1 2026, down from $2.999 million in Q1 2025 .
-   **Data Hosting Revenue**: $6.688 million in Q1 2026, up from $2.402 million in Q1 2025 .
-   **Demand Response Service Revenue**: $537 thousand in Q1 2026, up from $507 thousand in Q1 2025 .
-   **High-Performance Computing Service Revenue**: $0 in Q1 2026, down from $28 thousand in Q1 2025 .

#### Q1 2026 Total Revenue by Project Site

-   Project Dorothy 1B: $2.324 million .
-   Project Dorothy 1A: $2.174 million .
-   Project Dorothy 2: $3.434 million .
-   Project Sophie: $1.237 million .
-   Project Kati 1: $225 thousand .

#### Operational Costs

-   **Total Costs of Revenue**: $7.479 million in Q1 2026, up from $4.763 million in Q1 2025 .
-   **Total General and Administrative Expenses**: $18.541 million in Q1 2026, up from $8.350 million in Q1 2025 .

#### Gross Margins by Project Site (Q1 2026)

-   Dorothy 1A: 36% .
-   Dorothy 2: 41% .
-   Sophie: 37% .
-   Dorothy 1B: -15% gross margin loss .
-   Kati 1: -$262 thousand loss in its first quarter of operations .

#### Cash Flow

-   **Net Cash Used in Operating Activities**: -$6.372 million in Q1 2026, compared to -$177 thousand in Q1 2025 .
-   **Net Cash Used in Investing Activities**: -$6.224 million in Q1 2026, compared to -$3.640 million in Q1 2025 .
-   **Net Cash Provided by Financing Activities**: $9.738 million in Q1 2026, compared to $7.812 million in Q1 2025 .
-   **Cash & Restricted Cash at period end**: $85.985 million in Q1 2026, compared to $14.448 million in Q1 2025 .

#### Outlook / Guidance

SOLUNA HOLDINGS, INC. is advancing its AI expansion at Kati 2 and has vertically integrated the power layer for Dorothy 3 with the Briscoe Wind acquisition . The company also fully acquired Project Dorothy 1A, positioning itself for sustained growth and accelerating momentum . The Briscoe Wind Farm acquisition is projected to generate $6 million to $11 million in Year-One Adjusted EBITDA and $20.0 million to $24.4 million in annualized revenue, and Soluna has launched development for the Dorothy 3 AI Campus, a planned 300+ MW AI/HPC site .

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**