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Side-by-side financial comparison of GSI TECHNOLOGY INC (GSIT) and Soluna Holdings, Inc (SLNH). Click either name above to swap in a different company.
Soluna Holdings, Inc is the larger business by last-quarter revenue ($8.4M vs $6.1M, roughly 1.4× GSI TECHNOLOGY INC). GSI TECHNOLOGY INC runs the higher net margin — -49.7% vs -284.7%, a 235.0% gap on every dollar of revenue. On growth, GSI TECHNOLOGY INC posted the faster year-over-year revenue change (12.2% vs 11.8%). Soluna Holdings, Inc produced more free cash flow last quarter ($-6.8M vs $-8.2M). Over the past eight quarters, GSI TECHNOLOGY INC's revenue compounded faster (8.6% CAGR vs -8.8%).
Triad GSI is an American voting machine vendor based in Xenia, Ohio. Their main products are election-related computer hardware and software for counting ballots, as well as voter registration.
GSIT vs SLNH — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.1M | $8.4M |
| Net Profit | $-3.0M | $-24.0M |
| Gross Margin | 52.7% | 9.5% |
| Operating Margin | -113.7% | -92.5% |
| Net Margin | -49.7% | -284.7% |
| Revenue YoY | 12.2% | 11.8% |
| Net Profit YoY | 25.0% | -233.2% |
| EPS (diluted) | $-0.09 | $-1.14 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $6.1M | — | ||
| Q3 25 | $6.4M | $8.4M | ||
| Q2 25 | $6.3M | $6.2M | ||
| Q1 25 | $5.9M | $5.9M | ||
| Q4 24 | $5.4M | $8.3M | ||
| Q3 24 | $4.5M | $7.5M | ||
| Q2 24 | $4.7M | $9.7M | ||
| Q1 24 | $5.2M | $12.5M |
| Q4 25 | $-3.0M | — | ||
| Q3 25 | $-3.2M | $-24.0M | ||
| Q2 25 | $-2.2M | $-7.4M | ||
| Q1 25 | $-2.2M | $-7.6M | ||
| Q4 24 | $-4.0M | $-40.0M | ||
| Q3 24 | $-5.5M | $-7.2M | ||
| Q2 24 | $1.1M | $-10.9M | ||
| Q1 24 | $-4.3M | $-5.3M |
| Q4 25 | 52.7% | — | ||
| Q3 25 | 54.8% | 9.5% | ||
| Q2 25 | 58.1% | 6.3% | ||
| Q1 25 | 56.1% | 5.7% | ||
| Q4 24 | 54.0% | -360.8% | ||
| Q3 24 | 38.6% | -39.1% | ||
| Q2 24 | 46.3% | 34.6% | ||
| Q1 24 | 51.6% | 45.4% |
| Q4 25 | -113.7% | — | ||
| Q3 25 | -49.5% | -92.5% | ||
| Q2 25 | -34.6% | -107.6% | ||
| Q1 25 | -38.7% | -120.9% | ||
| Q4 24 | -74.9% | -426.0% | ||
| Q3 24 | -122.7% | -119.8% | ||
| Q2 24 | 23.1% | -38.0% | ||
| Q1 24 | -87.6% | 3.2% |
| Q4 25 | -49.7% | — | ||
| Q3 25 | -49.4% | -284.7% | ||
| Q2 25 | -35.3% | -119.9% | ||
| Q1 25 | -37.9% | -127.3% | ||
| Q4 24 | -74.4% | -483.8% | ||
| Q3 24 | -120.0% | -95.5% | ||
| Q2 24 | 23.1% | -112.4% | ||
| Q1 24 | -83.9% | -41.9% |
| Q4 25 | $-0.09 | — | ||
| Q3 25 | $-0.11 | $-1.14 | ||
| Q2 25 | $-0.08 | $-0.93 | ||
| Q1 25 | $-0.09 | $-1.21 | ||
| Q4 24 | $-0.16 | $-7.14 | ||
| Q3 24 | $-0.21 | $-1.56 | ||
| Q2 24 | $0.04 | $-3.62 | ||
| Q1 24 | $-0.17 | $-2.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $70.7M | — |
| Total DebtLower is stronger | — | $13.3M |
| Stockholders' EquityBook value | $83.6M | $14.5M |
| Total Assets | $98.5M | $152.0M |
| Debt / EquityLower = less leverage | — | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.7M | — | ||
| Q3 25 | $25.3M | — | ||
| Q2 25 | $22.7M | — | ||
| Q1 25 | $13.4M | — | ||
| Q4 24 | $15.1M | — | ||
| Q3 24 | $18.4M | — | ||
| Q2 24 | $21.8M | — | ||
| Q1 24 | $14.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $13.3M | ||
| Q2 25 | — | $10.0M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | — | $7.1M | ||
| Q3 24 | — | $8.1M | ||
| Q2 24 | — | $9.0M | ||
| Q1 24 | — | — |
| Q4 25 | $83.6M | — | ||
| Q3 25 | $38.6M | $14.5M | ||
| Q2 25 | $37.4M | $-19.5M | ||
| Q1 25 | $28.2M | $-16.1M | ||
| Q4 24 | $29.9M | $-12.5M | ||
| Q3 24 | $33.3M | $20.9M | ||
| Q2 24 | $38.0M | $24.4M | ||
| Q1 24 | $36.0M | $21.5M |
| Q4 25 | $98.5M | — | ||
| Q3 25 | $52.0M | $152.0M | ||
| Q2 25 | $50.5M | $92.0M | ||
| Q1 25 | $43.3M | $90.0M | ||
| Q4 24 | $44.1M | $88.0M | ||
| Q3 24 | $47.4M | $97.3M | ||
| Q2 24 | $52.3M | $98.7M | ||
| Q1 24 | $42.5M | $90.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.92× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.37× | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-7.9M | $-2.2M |
| Free Cash FlowOCF − Capex | $-8.2M | $-6.8M |
| FCF MarginFCF / Revenue | -134.4% | -81.4% |
| Capex IntensityCapex / Revenue | 4.9% | 55.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-12.5M | $-34.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.9M | — | ||
| Q3 25 | $-887.0K | $-2.2M | ||
| Q2 25 | $-1.7M | $-1.1M | ||
| Q1 25 | $-1.7M | $-177.0K | ||
| Q4 24 | $-3.6M | $-5.1M | ||
| Q3 24 | $-3.5M | $61.0K | ||
| Q2 24 | $-4.3M | $-7.3M | ||
| Q1 24 | $-7.1M | $3.9M |
| Q4 25 | $-8.2M | — | ||
| Q3 25 | $-906.0K | $-6.8M | ||
| Q2 25 | $-1.7M | $-9.7M | ||
| Q1 25 | $-1.7M | $-4.0M | ||
| Q4 24 | $-3.6M | $-13.9M | ||
| Q3 24 | $-3.5M | $-3.4M | ||
| Q2 24 | $-4.3M | $-7.6M | ||
| Q1 24 | $-7.2M | $3.3M |
| Q4 25 | -134.4% | — | ||
| Q3 25 | -14.1% | -81.4% | ||
| Q2 25 | -27.6% | -156.8% | ||
| Q1 25 | -28.3% | -67.1% | ||
| Q4 24 | -66.1% | -168.3% | ||
| Q3 24 | -76.6% | -44.8% | ||
| Q2 24 | -92.0% | -78.2% | ||
| Q1 24 | -139.0% | 26.5% |
| Q4 25 | 4.9% | — | ||
| Q3 25 | 0.3% | 55.2% | ||
| Q2 25 | 0.3% | 139.0% | ||
| Q1 25 | 0.1% | 64.2% | ||
| Q4 24 | 0.1% | 107.0% | ||
| Q3 24 | 0.1% | 45.6% | ||
| Q2 24 | 0.7% | 2.5% | ||
| Q1 24 | 0.2% | 4.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -3.96× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GSIT
| Distribution | $5.6M | 92% |
| Other | $459.0K | 8% |
SLNH
| Data Hosting Revenue | $5.3M | 62% |
| Cryptocurrency Mining Revenue | $2.8M | 33% |
| Other | $389.0K | 5% |
