Key Highlights

  • 145% year-over-year Revenue growth for the quarter ended June 30, 2026, when revenue reached USD 15.06 million, up 60% from the first quarter.
  • Unrestricted cash stood at USD 113.4 million on June 30, 2026, while total Debt came to USD 33.1 million, with USD 30.1 million of that current.
  • The second quarter net loss of USD 22.6 million compares with USD 17.9 million in the first quarter, and adjusted EBITDA narrowed by 25%, leaving a USD 1.6 million loss.
  • A webcast and conference call will follow the third quarter 2026 release, scheduled for the same day, November 16, 2026.

Confirmed Timing and a Tough Comparison Ahead for Soluna Holdings, Inc. (NASDAQ:SLNH)

Soluna Holdings, Inc. (NASDAQ:SLNH) confirmed in a Form 8-K dated November 9, 2026 that third quarter 2026 financial results will be released on Monday, November 16, 2026, with a conference call and webcast to follow. The report covers the period ended September 30, 2026. The comparison is demanding: second quarter revenue of USD 15.06 million was the fifth straight sequential gain, whereas the third quarter of 2025 combined a 37% sequential revenue increase with about USD 60 million of cash.

Gross Profit and Project Milestones at Soluna Holdings, Inc. (NASDAQ:SLNH)

Soluna Holdings, Inc. (NASDAQ:SLNH) reported on August 13, 2026 for the quarter that ended June 30, 2026, when revenue climbed 145% from a year earlier and 60% from the prior quarter, or 73% when a presentation change is excluded. Gross Profit came to USD 766 thousand, equal to a calculated gross Margin of 5.1%, compared with USD 1.9 million in Q1. Soluna Holdings, Inc. (NASDAQ:SLNH) booked a net loss attributable to the company of USD 20.7 million, while the overall second quarter net loss stood at USD 22.6 million and EBITDA was negative by USD 14.3 million. The chief executive, John Belizaire, credited Kati 1 with its first positive gross profit and singled out Dorothy 1A for its best quarter yet. The company set no numeric guidance.

Cash, Debt and Dilution Risks at Soluna Holdings, Inc. (NASDAQ:SLNH)

Soluna Holdings, Inc. (NASDAQ:SLNH) held USD 113.4 million of unrestricted cash on June 30, 2026, with total debt at USD 33.1 million, split between a USD 30.1 million current portion and a USD 3.0 million long-dated portion. The share count moved from 225,821,479 at June 30, 2026 to about 244,590,575 when the quarterly filing was made, after Soluna Holdings, Inc. (NASDAQ:SLNH) sold roughly USD 23.6 million of stock via its at-the-market program in the period after quarter end. Its 9.0% Series A Cumulative Perpetual Preferred Stock is listed under the symbol SLNHP. Key concerns are slim gross margins, ongoing losses, share dilution from Equity sales, the execution of power and hosting contracts, and how quickly the project pipeline turns into revenue.

Where Things Stand

Soluna Holdings, Inc. (NASDAQ:SLNH) goes into its November 16, 2026 release with strong top-line momentum but slim profitability. Top-line revenue of USD 15.06 million, along with USD 113.4 million in cash, points to how far the Business has shifted into AI and high-performance computing infrastructure, but a gross margin close to 5.1% and a USD 22.6 million net loss make clear how much Operating Leverage remains unproven. Leadership argues that controlling both the generation side and the compute side at its flagship campus sets it apart. The third quarter numbers should reveal whether sequential growth extends to a sixth straight quarter and whether adjusted EBITDA losses, now USD 1.6 million, keep shrinking.