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Side-by-side financial comparison of Solana Co (HSDT) and SES AI Corp (SES). Click either name above to swap in a different company.
Solana Co is the larger business by last-quarter revenue ($5.2M vs $4.6M, roughly 1.1× SES AI Corp). Solana Co runs the higher net margin — 6227.1% vs -373.5%, a 6600.5% gap on every dollar of revenue.
Solana is a Mexican cottage manufacturer of sports, racing, and kids' automobiles based in Mexico City. The family run company has operated since 1936, with a total production of fewer than fifty cars; the majority of them one-offs. The family is heavily involved in motor sports; the most prominent member was Moisés Solana, who raced family-built cars and later in Formula One.
SES S.A. is a Luxembourgish communications satellite operator supplying video and data connectivity worldwide to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions.
HSDT vs SES — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.2M | $4.6M |
| Net Profit | $325.6M | $-17.0M |
| Gross Margin | 96.6% | 11.3% |
| Operating Margin | -3845.8% | -387.7% |
| Net Margin | 6227.1% | -373.5% |
| Revenue YoY | 2725.9% | — |
| Net Profit YoY | 8388.0% | 50.7% |
| EPS (diluted) | $111.28 | $-0.05 |
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 | $5.2M | $4.6M | ||
| Q3 25 | $697.0K | $7.1M | ||
| Q2 25 | $43.0K | $3.5M | ||
| Q1 25 | $49.0K | $5.8M | ||
| Q4 24 | $185.0K | — | ||
| Q3 24 | $51.0K | — | ||
| Q2 24 | $182.0K | — | ||
| Q1 24 | $135.0K | — |
| Q4 25 | $325.6M | $-17.0M | ||
| Q3 25 | $-352.8M | $-20.9M | ||
| Q2 25 | $-9.8M | $-22.7M | ||
| Q1 25 | $-3.8M | $-12.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-3.7M | — | ||
| Q2 24 | $-1.6M | — | ||
| Q1 24 | $-2.5M | — |
| Q4 25 | 96.6% | 11.3% | ||
| Q3 25 | 85.2% | 51.1% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 78.7% | ||
| Q4 24 | 16.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 35.2% | — | ||
| Q1 24 | 8.9% | — |
| Q4 25 | -3845.8% | -387.7% | ||
| Q3 25 | -5086.1% | -262.0% | ||
| Q2 25 | -7725.6% | -652.3% | ||
| Q1 25 | -8185.7% | -401.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | -7980.4% | — | ||
| Q2 24 | -1796.7% | — | ||
| Q1 24 | -2530.4% | — |
| Q4 25 | 6227.1% | -373.5% | ||
| Q3 25 | -50612.3% | -293.9% | ||
| Q2 25 | -22867.4% | -642.2% | ||
| Q1 25 | -7832.7% | -214.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | -7227.5% | — | ||
| Q2 24 | -885.7% | — | ||
| Q1 24 | -1863.7% | — |
| Q4 25 | $111.28 | $-0.05 | ||
| Q3 25 | $-32.89 | $-0.06 | ||
| Q2 25 | $-79.73 | $-0.07 | ||
| Q1 25 | $-0.51 | $-0.04 | ||
| Q4 24 | — | — | ||
| Q3 24 | $-744.35 | — | ||
| Q2 24 | $-485.30 | — | ||
| Q1 24 | $-3.08 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $7.3M | $29.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $300.9M | $214.8M |
| Total Assets | $303.9M | $272.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.3M | $29.5M | ||
| Q3 25 | $124.1M | $35.3M | ||
| Q2 25 | $6.1M | $11.8M | ||
| Q1 25 | $1.1M | $56.1M | ||
| Q4 24 | $1.1M | — | ||
| Q3 24 | $3.5M | — | ||
| Q2 24 | $6.4M | — | ||
| Q1 24 | $3.6M | — |
| Q4 25 | $300.9M | $214.8M | ||
| Q3 25 | $-152.4M | $228.2M | ||
| Q2 25 | $6.0M | $249.2M | ||
| Q1 25 | $1.3M | $269.9M | ||
| Q4 24 | $1.1M | — | ||
| Q3 24 | $3.8M | — | ||
| Q2 24 | $6.3M | — | ||
| Q1 24 | $2.0M | — |
| Q4 25 | $303.9M | $272.6M | ||
| Q3 25 | $475.9M | $288.8M | ||
| Q2 25 | $7.9M | $290.5M | ||
| Q1 25 | $3.5M | $306.0M | ||
| Q4 24 | $3.5M | — | ||
| Q3 24 | $5.6M | — | ||
| Q2 24 | $8.8M | — | ||
| Q1 24 | $5.8M | — |
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 | $-16.5M | $-10.4M |
| Free Cash FlowOCF − Capex | — | $-11.1M |
| FCF MarginFCF / Revenue | — | -243.7% |
| Capex IntensityCapex / Revenue | — | 15.6% |
| Cash ConversionOCF / Net Profit | -0.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-61.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.5M | $-10.4M | ||
| Q3 25 | $-4.0M | $-14.3M | ||
| Q2 25 | $-2.8M | $-10.8M | ||
| Q1 25 | $-3.5M | $-22.8M | ||
| Q4 24 | $-11.0M | — | ||
| Q3 24 | $-2.8M | — | ||
| Q2 24 | $-2.9M | — | ||
| Q1 24 | $-3.0M | — |
| Q4 25 | — | $-11.1M | ||
| Q3 25 | — | $-14.7M | ||
| Q2 25 | — | $-11.6M | ||
| Q1 25 | — | $-23.7M | ||
| Q4 24 | $-11.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-3.0M | — |
| Q4 25 | — | -243.7% | ||
| Q3 25 | — | -206.9% | ||
| Q2 25 | — | -329.6% | ||
| Q1 25 | — | -410.0% | ||
| Q4 24 | -5970.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -2226.7% | — |
| Q4 25 | — | 15.6% | ||
| Q3 25 | — | 6.0% | ||
| Q2 25 | — | 22.8% | ||
| Q1 25 | — | 15.8% | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 3.7% | — |
| Q4 25 | -0.05× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
