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Side-by-side financial comparison of Solana Co (HSDT) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
Velo3D, Inc. is the larger business by last-quarter revenue ($9.4M vs $5.2M, roughly 1.8× Solana Co). Solana Co runs the higher net margin — 6227.1% vs -231.9%, a 6459.0% gap on every dollar of revenue. On growth, Solana Co posted the faster year-over-year revenue change (2725.9% vs -25.2%). Over the past eight quarters, Solana Co's revenue compounded faster (522.3% CAGR vs -1.8%).
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.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
HSDT vs VELO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.2M | $9.4M |
| Net Profit | $325.6M | $-21.9M |
| Gross Margin | 96.6% | -73.6% |
| Operating Margin | -3845.8% | -231.0% |
| Net Margin | 6227.1% | -231.9% |
| Revenue YoY | 2725.9% | -25.2% |
| Net Profit YoY | 8388.0% | -2.9% |
| EPS (diluted) | $111.28 | $-0.87 |
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 | $9.4M | ||
| Q3 25 | $697.0K | $13.6M | ||
| Q2 25 | $43.0K | $13.6M | ||
| Q1 25 | $49.0K | $9.3M | ||
| Q4 24 | $185.0K | $12.6M | ||
| Q3 24 | $51.0K | $8.2M | ||
| Q2 24 | $182.0K | $10.3M | ||
| Q1 24 | $135.0K | $9.8M |
| Q4 25 | $325.6M | $-21.9M | ||
| Q3 25 | $-352.8M | $-11.2M | ||
| Q2 25 | $-9.8M | $-13.3M | ||
| Q1 25 | $-3.8M | $-25.0M | ||
| Q4 24 | — | $-21.3M | ||
| Q3 24 | $-3.7M | $-21.9M | ||
| Q2 24 | $-1.6M | $935.0K | ||
| Q1 24 | $-2.5M | $-27.5M |
| Q4 25 | 96.6% | -73.6% | ||
| Q3 25 | 85.2% | 3.2% | ||
| Q2 25 | — | -11.7% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | 16.8% | -3.5% | ||
| Q3 24 | — | 49.4% | ||
| Q2 24 | 35.2% | -28.0% | ||
| Q1 24 | 8.9% | -28.8% |
| Q4 25 | -3845.8% | -231.0% | ||
| Q3 25 | -5086.1% | -73.3% | ||
| Q2 25 | -7725.6% | -85.4% | ||
| Q1 25 | -8185.7% | -123.6% | ||
| Q4 24 | — | -167.0% | ||
| Q3 24 | -7980.4% | -213.8% | ||
| Q2 24 | -1796.7% | -187.7% | ||
| Q1 24 | -2530.4% | -211.1% |
| Q4 25 | 6227.1% | -231.9% | ||
| Q3 25 | -50612.3% | -82.0% | ||
| Q2 25 | -22867.4% | -97.7% | ||
| Q1 25 | -7832.7% | -268.4% | ||
| Q4 24 | — | -168.5% | ||
| Q3 24 | -7227.5% | -265.3% | ||
| Q2 24 | -885.7% | 9.0% | ||
| Q1 24 | -1863.7% | -281.2% |
| Q4 25 | $111.28 | $-0.87 | ||
| Q3 25 | $-32.89 | $-0.65 | ||
| Q2 25 | $-79.73 | $-0.94 | ||
| Q1 25 | $-0.51 | $-1.87 | ||
| Q4 24 | — | $7.06 | ||
| Q3 24 | $-744.35 | $-35.52 | ||
| Q2 24 | $-485.30 | $1.65 | ||
| Q1 24 | $-3.08 | $-55.51 |
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 | $39.0M |
| Total DebtLower is stronger | — | $31.0M |
| Stockholders' EquityBook value | $300.9M | $38.2M |
| Total Assets | $303.9M | $105.3M |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $7.3M | $39.0M | ||
| Q3 25 | $124.1M | $11.8M | ||
| Q2 25 | $6.1M | $854.0K | ||
| Q1 25 | $1.1M | $3.9M | ||
| Q4 24 | $1.1M | $1.2M | ||
| Q3 24 | $3.5M | $1.6M | ||
| Q2 24 | $6.4M | $3.2M | ||
| Q1 24 | $3.6M | $10.9M |
| Q4 25 | — | $31.0M | ||
| Q3 25 | — | $23.0M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $21.7M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $44.0M |
| Q4 25 | $300.9M | $38.2M | ||
| Q3 25 | $-152.4M | $29.9M | ||
| Q2 25 | $6.0M | $21.4M | ||
| Q1 25 | $1.3M | $32.8M | ||
| Q4 24 | $1.1M | $39.7M | ||
| Q3 24 | $3.8M | $34.4M | ||
| Q2 24 | $6.3M | $52.1M | ||
| Q1 24 | $2.0M | $45.5M |
| Q4 25 | $303.9M | $105.3M | ||
| Q3 25 | $475.9M | $93.7M | ||
| Q2 25 | $7.9M | $78.4M | ||
| Q1 25 | $3.5M | $91.3M | ||
| Q4 24 | $3.5M | $89.2M | ||
| Q3 24 | $5.6M | $110.8M | ||
| Q2 24 | $8.8M | $116.7M | ||
| Q1 24 | $5.8M | $136.1M |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.97× |
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 | $-7.7M |
| Free Cash FlowOCF − Capex | — | $-8.3M |
| FCF MarginFCF / Revenue | — | -88.3% |
| Capex IntensityCapex / Revenue | — | 6.4% |
| Cash ConversionOCF / Net Profit | -0.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.5M | $-7.7M | ||
| Q3 25 | $-4.0M | $-6.0M | ||
| Q2 25 | $-2.8M | $-1.2M | ||
| Q1 25 | $-3.5M | $-12.3M | ||
| Q4 24 | $-11.0M | $-2.2M | ||
| Q3 24 | $-2.8M | $-2.0M | ||
| Q2 24 | $-2.9M | $-8.0M | ||
| Q1 24 | $-3.0M | $-20.5M |
| Q4 25 | — | $-8.3M | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | — | $-3.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | $-11.0M | $-2.2M | ||
| Q3 24 | — | $-2.0M | ||
| Q2 24 | — | $-8.0M | ||
| Q1 24 | $-3.0M | $-20.5M |
| Q4 25 | — | -88.3% | ||
| Q3 25 | — | -46.5% | ||
| Q2 25 | — | -22.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | -5970.8% | -17.7% | ||
| Q3 24 | — | -24.2% | ||
| Q2 24 | — | -77.1% | ||
| Q1 24 | -2226.7% | -209.8% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 2.7% | 0.2% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.0% | ||
| Q1 24 | 3.7% | 0.1% |
| Q4 25 | -0.05× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -8.52× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
