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Side-by-side financial comparison of Soluna Holdings, Inc (SLNH) and SOLESENCE, INC. (SLSN). Click either name above to swap in a different company.
SOLESENCE, INC. is the larger business by last-quarter revenue ($12.5M vs $8.4M, roughly 1.5× Soluna Holdings, Inc). SOLESENCE, INC. runs the higher net margin — 1.3% vs -284.7%, a 286.0% gap on every dollar of revenue. On growth, Soluna Holdings, Inc posted the faster year-over-year revenue change (11.8% vs -0.7%). Over the past eight quarters, SOLESENCE, INC.'s revenue compounded faster (12.5% CAGR vs -8.8%).
SLNH vs SLSN — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.4M | $12.5M |
| Net Profit | $-24.0M | $163.0K |
| Gross Margin | 9.5% | 27.5% |
| Operating Margin | -92.5% | 1.5% |
| Net Margin | -284.7% | 1.3% |
| Revenue YoY | 11.8% | -0.7% |
| Net Profit YoY | -233.2% | 129.2% |
| EPS (diluted) | $-1.14 | $0.00 |
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 | — | $12.5M | ||
| Q3 25 | $8.4M | $14.6M | ||
| Q2 25 | $6.2M | $20.4M | ||
| Q1 25 | $5.9M | $14.6M | ||
| Q4 24 | $8.3M | $12.6M | ||
| Q3 24 | $7.5M | $16.9M | ||
| Q2 24 | $9.7M | $13.0M | ||
| Q1 24 | $12.5M | $9.9M |
| Q4 25 | — | $163.0K | ||
| Q3 25 | $-24.0M | $-1.1M | ||
| Q2 25 | $-7.4M | $2.7M | ||
| Q1 25 | $-7.6M | $80.0K | ||
| Q4 24 | $-40.0M | $-559.0K | ||
| Q3 24 | $-7.2M | $3.0M | ||
| Q2 24 | $-10.9M | $856.0K | ||
| Q1 24 | $-5.3M | $893.0K |
| Q4 25 | — | 27.5% | ||
| Q3 25 | 9.5% | 23.1% | ||
| Q2 25 | 6.3% | 28.9% | ||
| Q1 25 | 5.7% | 23.1% | ||
| Q4 24 | -360.8% | 22.0% | ||
| Q3 24 | -39.1% | 36.2% | ||
| Q2 24 | 34.6% | 28.7% | ||
| Q1 24 | 45.4% | 36.3% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | -92.5% | -5.4% | ||
| Q2 25 | -107.6% | 9.4% | ||
| Q1 25 | -120.9% | 1.8% | ||
| Q4 24 | -426.0% | -1.8% | ||
| Q3 24 | -119.8% | 19.0% | ||
| Q2 24 | -38.0% | 8.0% | ||
| Q1 24 | 3.2% | 11.3% |
| Q4 25 | — | 1.3% | ||
| Q3 25 | -284.7% | -7.7% | ||
| Q2 25 | -119.9% | 13.1% | ||
| Q1 25 | -127.3% | 0.5% | ||
| Q4 24 | -483.8% | -4.4% | ||
| Q3 24 | -95.5% | 18.1% | ||
| Q2 24 | -112.4% | 6.6% | ||
| Q1 24 | -41.9% | 9.0% |
| Q4 25 | — | $0.00 | ||
| Q3 25 | $-1.14 | $-0.02 | ||
| Q2 25 | $-0.93 | $0.04 | ||
| Q1 25 | $-1.21 | $0.00 | ||
| Q4 24 | $-7.14 | $0.00 | ||
| Q3 24 | $-1.56 | $0.04 | ||
| Q2 24 | $-3.62 | $0.01 | ||
| Q1 24 | $-2.62 | $0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.3M |
| Total DebtLower is stronger | $13.3M | — |
| Stockholders' EquityBook value | $14.5M | $17.6M |
| Total Assets | $152.0M | $50.1M |
| Debt / EquityLower = less leverage | 0.92× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.3M | ||
| Q3 25 | — | $429.0K | ||
| Q2 25 | — | $4.1M | ||
| Q1 25 | — | $1.8M | ||
| Q4 24 | — | $1.4M | ||
| Q3 24 | — | $2.9M | ||
| Q2 24 | — | $2.4M | ||
| Q1 24 | — | $2.0M |
| 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 | — | $17.6M | ||
| Q3 25 | $14.5M | $17.2M | ||
| Q2 25 | $-19.5M | $18.2M | ||
| Q1 25 | $-16.1M | $15.2M | ||
| Q4 24 | $-12.5M | $14.9M | ||
| Q3 24 | $20.9M | $15.2M | ||
| Q2 24 | $24.4M | $11.9M | ||
| Q1 24 | $21.5M | $5.0M |
| Q4 25 | — | $50.1M | ||
| Q3 25 | $152.0M | $54.0M | ||
| Q2 25 | $92.0M | $60.0M | ||
| Q1 25 | $90.0M | $57.0M | ||
| Q4 24 | $88.0M | $50.0M | ||
| Q3 24 | $97.3M | $48.0M | ||
| Q2 24 | $98.7M | $40.8M | ||
| Q1 24 | $90.6M | $38.5M |
| 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 | $-2.2M | $1.8M |
| Free Cash FlowOCF − Capex | $-6.8M | — |
| FCF MarginFCF / Revenue | -81.4% | — |
| Capex IntensityCapex / Revenue | 55.2% | — |
| Cash ConversionOCF / Net Profit | — | 11.16× |
| TTM Free Cash FlowTrailing 4 quarters | $-34.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.8M | ||
| Q3 25 | $-2.2M | $-2.5M | ||
| Q2 25 | $-1.1M | $-654.0K | ||
| Q1 25 | $-177.0K | $-7.2M | ||
| Q4 24 | $-5.1M | $2.2M | ||
| Q3 24 | $61.0K | $4.2M | ||
| Q2 24 | $-7.3M | $-565.0K | ||
| Q1 24 | $3.9M | $-3.9M |
| Q4 25 | — | — | ||
| Q3 25 | $-6.8M | — | ||
| Q2 25 | $-9.7M | — | ||
| Q1 25 | $-4.0M | — | ||
| Q4 24 | $-13.9M | $-404.0K | ||
| Q3 24 | $-3.4M | $2.8M | ||
| Q2 24 | $-7.6M | $-1.0M | ||
| Q1 24 | $3.3M | $-3.9M |
| Q4 25 | — | — | ||
| Q3 25 | -81.4% | — | ||
| Q2 25 | -156.8% | — | ||
| Q1 25 | -67.1% | — | ||
| Q4 24 | -168.3% | -3.2% | ||
| Q3 24 | -44.8% | 16.6% | ||
| Q2 24 | -78.2% | -8.0% | ||
| Q1 24 | 26.5% | -39.9% |
| Q4 25 | — | — | ||
| Q3 25 | 55.2% | — | ||
| Q2 25 | 139.0% | — | ||
| Q1 25 | 64.2% | — | ||
| Q4 24 | 107.0% | 20.6% | ||
| Q3 24 | 45.6% | 8.3% | ||
| Q2 24 | 2.5% | 3.7% | ||
| Q1 24 | 4.2% | 0.9% |
| Q4 25 | — | 11.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.25× | ||
| Q1 25 | — | -90.26× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.38× | ||
| Q2 24 | — | -0.66× | ||
| Q1 24 | — | -4.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SLNH
| Data Hosting Revenue | $5.3M | 62% |
| Cryptocurrency Mining Revenue | $2.8M | 33% |
| Other | $389.0K | 5% |
SLSN
Segment breakdown not available.
