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Side-by-side financial comparison of Nano Labs Ltd (NA) 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 $2.7M, roughly 3.1× Nano Labs Ltd). Nano Labs Ltd runs the higher net margin — 754.5% vs -284.7%, a 1039.1% gap on every dollar of revenue. Soluna Holdings, Inc produced more free cash flow last quarter ($-6.8M vs $-8.4M).
Weebit Nano is a public semiconductor IP company founded in Israel in 2015 and headquartered in Hod HaSharon, Israel. The company develops Resistive Random-Access Memory technologies. Resistive Random-Access Memory is a specialized form of non-volatile memory (NVM) for the semiconductor industry. The company's products are targeted at a broad range of NVM markets where persistence, performance, and endurance are all required. ReRAM technology can be integrated in electronic devices like weara...
NA vs SLNH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7M | $8.4M |
| Net Profit | $20.3M | $-24.0M |
| Gross Margin | — | 9.5% |
| Operating Margin | — | -92.5% |
| Net Margin | 754.5% | -284.7% |
| Revenue YoY | — | 11.8% |
| Net Profit YoY | — | -233.2% |
| EPS (diluted) | $1.03 | $-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 | $2.7M | — | ||
| Q3 25 | — | $8.4M | ||
| Q2 25 | $1.2M | $6.2M | ||
| Q1 25 | — | $5.9M | ||
| Q4 24 | — | $8.3M | ||
| Q3 24 | — | $7.5M | ||
| Q2 24 | $3.5M | $9.7M | ||
| Q1 24 | — | $12.5M |
| Q4 25 | $20.3M | — | ||
| Q3 25 | — | $-24.0M | ||
| Q2 25 | $-985.5K | $-7.4M | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $-40.0M | ||
| Q3 24 | — | $-7.2M | ||
| Q2 24 | $-8.0M | $-10.9M | ||
| Q1 24 | — | $-5.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 5.7% | ||
| Q4 24 | — | -360.8% | ||
| Q3 24 | — | -39.1% | ||
| Q2 24 | 0.1% | 34.6% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | -92.5% | ||
| Q2 25 | -459.2% | -107.6% | ||
| Q1 25 | — | -120.9% | ||
| Q4 24 | — | -426.0% | ||
| Q3 24 | — | -119.8% | ||
| Q2 24 | -237.2% | -38.0% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | 754.5% | — | ||
| Q3 25 | — | -284.7% | ||
| Q2 25 | -85.2% | -119.9% | ||
| Q1 25 | — | -127.3% | ||
| Q4 24 | — | -483.8% | ||
| Q3 24 | — | -95.5% | ||
| Q2 24 | -231.3% | -112.4% | ||
| Q1 24 | — | -41.9% |
| Q4 25 | $1.03 | — | ||
| Q3 25 | — | $-1.14 | ||
| Q2 25 | $-0.06 | $-0.93 | ||
| Q1 25 | — | $-1.21 | ||
| Q4 24 | — | $-7.14 | ||
| Q3 24 | — | $-1.56 | ||
| Q2 24 | $-0.12 | $-3.62 | ||
| Q1 24 | — | $-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 | $4.9M | — |
| Total DebtLower is stronger | $24.5M | $13.3M |
| Stockholders' EquityBook value | $106.5M | $14.5M |
| Total Assets | $159.3M | $152.0M |
| Debt / EquityLower = less leverage | 0.23× | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $50.8M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $3.3M | — | ||
| Q1 24 | — | — |
| Q4 25 | $24.5M | — | ||
| Q3 25 | — | $13.3M | ||
| Q2 25 | $24.8M | $10.0M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | — | $7.1M | ||
| Q3 24 | — | $8.1M | ||
| Q2 24 | $22.5M | $9.0M | ||
| Q1 24 | — | — |
| Q4 25 | $106.5M | — | ||
| Q3 25 | — | $14.5M | ||
| Q2 25 | $86.8M | $-19.5M | ||
| Q1 25 | — | $-16.1M | ||
| Q4 24 | — | $-12.5M | ||
| Q3 24 | — | $20.9M | ||
| Q2 24 | $-5.1M | $24.4M | ||
| Q1 24 | — | $21.5M |
| Q4 25 | $159.3M | — | ||
| Q3 25 | — | $152.0M | ||
| Q2 25 | $206.4M | $92.0M | ||
| Q1 25 | — | $90.0M | ||
| Q4 24 | — | $88.0M | ||
| Q3 24 | — | $97.3M | ||
| Q2 24 | $51.2M | $98.7M | ||
| Q1 24 | — | $90.6M |
| Q4 25 | 0.23× | — | ||
| Q3 25 | — | 0.92× | ||
| Q2 25 | 0.29× | — | ||
| 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 | $-8.3M | $-2.2M |
| Free Cash FlowOCF − Capex | $-8.4M | $-6.8M |
| FCF MarginFCF / Revenue | -312.3% | -81.4% |
| Capex IntensityCapex / Revenue | 2.9% | 55.2% |
| Cash ConversionOCF / Net Profit | -0.41× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.3M | — | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | $-7.1M | $-1.1M | ||
| Q1 25 | — | $-177.0K | ||
| Q4 24 | — | $-5.1M | ||
| Q3 24 | — | $61.0K | ||
| Q2 24 | $-10.8M | $-7.3M | ||
| Q1 24 | — | $3.9M |
| Q4 25 | $-8.4M | — | ||
| Q3 25 | — | $-6.8M | ||
| Q2 25 | $-7.2M | $-9.7M | ||
| Q1 25 | — | $-4.0M | ||
| Q4 24 | — | $-13.9M | ||
| Q3 24 | — | $-3.4M | ||
| Q2 24 | $-15.4M | $-7.6M | ||
| Q1 24 | — | $3.3M |
| Q4 25 | -312.3% | — | ||
| Q3 25 | — | -81.4% | ||
| Q2 25 | -620.3% | -156.8% | ||
| Q1 25 | — | -67.1% | ||
| Q4 24 | — | -168.3% | ||
| Q3 24 | — | -44.8% | ||
| Q2 24 | -443.4% | -78.2% | ||
| Q1 24 | — | 26.5% |
| Q4 25 | 2.9% | — | ||
| Q3 25 | — | 55.2% | ||
| Q2 25 | 7.2% | 139.0% | ||
| Q1 25 | — | 64.2% | ||
| Q4 24 | — | 107.0% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | 133.1% | 2.5% | ||
| Q1 24 | — | 4.2% |
| Q4 25 | -0.41× | — | ||
| 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.
Revenue Breakdown by Segment
NA
Segment breakdown not available.
SLNH
| Data Hosting Revenue | $5.3M | 62% |
| Cryptocurrency Mining Revenue | $2.8M | 33% |
| Other | $389.0K | 5% |
