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Side-by-side financial comparison of Soluna Holdings, Inc (SLNH) and Village Farms International, Inc. (VFF). Click either name above to swap in a different company.
Village Farms International, Inc. is the larger business by last-quarter revenue ($12.2M vs $8.4M, roughly 1.5× Soluna Holdings, Inc). Village Farms International, Inc. runs the higher net margin — 19.9% vs -284.7%, a 304.6% gap on every dollar of revenue. On growth, Village Farms International, Inc. posted the faster year-over-year revenue change (31.5% vs 11.8%).
Grafton Village Cheese Company is a cheesemaker in the town of Grafton in the U.S. state of Vermont. The company produces hand-crafted aged cheddar cheese.
SLNH vs VFF — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.4M | $12.2M |
| Net Profit | $-24.0M | $2.4M |
| Gross Margin | 9.5% | — |
| Operating Margin | -92.5% | — |
| Net Margin | -284.7% | 19.9% |
| Revenue YoY | 11.8% | 31.5% |
| Net Profit YoY | -233.2% | 128.2% |
| EPS (diluted) | $-1.14 | $0.01 |
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 | — | $12.2M | ||
| Q3 25 | $8.4M | $66.7M | ||
| Q2 25 | $6.2M | $59.9M | ||
| Q1 25 | $5.9M | $77.1M | ||
| Q4 24 | $8.3M | — | ||
| Q3 24 | $7.5M | $54.9M | ||
| Q2 24 | $9.7M | $53.6M | ||
| Q1 24 | $12.5M | $78.1M |
| Q4 25 | — | $2.4M | ||
| Q3 25 | $-24.0M | $10.2M | ||
| Q2 25 | $-7.4M | $26.5M | ||
| Q1 25 | $-7.6M | $-6.7M | ||
| Q4 24 | $-40.0M | — | ||
| Q3 24 | $-7.2M | $-820.0K | ||
| Q2 24 | $-10.9M | $-23.5M | ||
| Q1 24 | $-5.3M | $-2.9M |
| Q4 25 | — | — | ||
| Q3 25 | 9.5% | 47.9% | ||
| Q2 25 | 6.3% | 37.3% | ||
| Q1 25 | 5.7% | 14.7% | ||
| Q4 24 | -360.8% | — | ||
| Q3 24 | -39.1% | 24.8% | ||
| Q2 24 | 34.6% | 25.4% | ||
| Q1 24 | 45.4% | 19.9% |
| Q4 25 | — | — | ||
| Q3 25 | -92.5% | 23.3% | ||
| Q2 25 | -107.6% | 20.8% | ||
| Q1 25 | -120.9% | -8.0% | ||
| Q4 24 | -426.0% | — | ||
| Q3 24 | -119.8% | 3.8% | ||
| Q2 24 | -38.0% | -43.5% | ||
| Q1 24 | 3.2% | -3.0% |
| Q4 25 | — | 19.9% | ||
| Q3 25 | -284.7% | 15.3% | ||
| Q2 25 | -119.9% | 44.2% | ||
| Q1 25 | -127.3% | -8.7% | ||
| Q4 24 | -483.8% | — | ||
| Q3 24 | -95.5% | -1.5% | ||
| Q2 24 | -112.4% | -43.9% | ||
| Q1 24 | -41.9% | -3.7% |
| Q4 25 | — | $0.01 | ||
| Q3 25 | $-1.14 | $0.08 | ||
| Q2 25 | $-0.93 | $0.24 | ||
| Q1 25 | $-1.21 | $-0.06 | ||
| Q4 24 | $-7.14 | — | ||
| Q3 24 | $-1.56 | $-0.01 | ||
| Q2 24 | $-3.62 | $-0.21 | ||
| Q1 24 | $-2.62 | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $81.2M |
| Total DebtLower is stronger | $13.3M | $33.7M |
| Stockholders' EquityBook value | $14.5M | $299.9M |
| Total Assets | $152.0M | $423.1M |
| Debt / EquityLower = less leverage | 0.92× | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $81.2M | ||
| Q3 25 | — | $82.6M | ||
| Q2 25 | — | $60.0M | ||
| Q1 25 | — | $15.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $28.7M | ||
| Q2 24 | — | $29.7M | ||
| Q1 24 | — | $26.7M |
| Q4 25 | — | $33.7M | ||
| Q3 25 | $13.3M | $34.6M | ||
| Q2 25 | $10.0M | $39.1M | ||
| Q1 25 | $10.2M | $39.2M | ||
| Q4 24 | $7.1M | — | ||
| Q3 24 | $8.1M | $43.3M | ||
| Q2 24 | $9.0M | $44.4M | ||
| Q1 24 | — | $46.1M |
| Q4 25 | — | $299.9M | ||
| Q3 25 | $14.5M | $295.4M | ||
| Q2 25 | $-19.5M | $284.3M | ||
| Q1 25 | $-16.1M | $248.3M | ||
| Q4 24 | $-12.5M | — | ||
| Q3 24 | $20.9M | $274.4M | ||
| Q2 24 | $24.4M | $275.2M | ||
| Q1 24 | $21.5M | $296.2M |
| Q4 25 | — | $423.1M | ||
| Q3 25 | $152.0M | $418.4M | ||
| Q2 25 | $92.0M | $403.7M | ||
| Q1 25 | $90.0M | $377.1M | ||
| Q4 24 | $88.0M | — | ||
| Q3 24 | $97.3M | $417.8M | ||
| Q2 24 | $98.7M | $425.4M | ||
| Q1 24 | $90.6M | $458.4M |
| Q4 25 | — | 0.11× | ||
| Q3 25 | 0.92× | 0.12× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.39× | 0.16× | ||
| Q2 24 | 0.37× | 0.16× | ||
| Q1 24 | — | 0.16× |
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 | — |
| Free Cash FlowOCF − Capex | $-6.8M | — |
| FCF MarginFCF / Revenue | -81.4% | — |
| Capex IntensityCapex / Revenue | 55.2% | 90.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $-2.2M | $24.4M | ||
| Q2 25 | $-1.1M | — | ||
| Q1 25 | $-177.0K | $-6.4M | ||
| Q4 24 | $-5.1M | — | ||
| Q3 24 | $61.0K | $4.3M | ||
| Q2 24 | $-7.3M | $5.7M | ||
| Q1 24 | $3.9M | $-50.0K |
| Q4 25 | — | — | ||
| Q3 25 | $-6.8M | $22.6M | ||
| Q2 25 | $-9.7M | — | ||
| Q1 25 | $-4.0M | $-8.9M | ||
| Q4 24 | $-13.9M | — | ||
| Q3 24 | $-3.4M | $1.5M | ||
| Q2 24 | $-7.6M | $4.8M | ||
| Q1 24 | $3.3M | $-1.9M |
| Q4 25 | — | — | ||
| Q3 25 | -81.4% | 33.9% | ||
| Q2 25 | -156.8% | — | ||
| Q1 25 | -67.1% | -11.6% | ||
| Q4 24 | -168.3% | — | ||
| Q3 24 | -44.8% | 2.7% | ||
| Q2 24 | -78.2% | 9.0% | ||
| Q1 24 | 26.5% | -2.5% |
| Q4 25 | — | 90.8% | ||
| Q3 25 | 55.2% | 2.7% | ||
| Q2 25 | 139.0% | 4.6% | ||
| Q1 25 | 64.2% | 3.3% | ||
| Q4 24 | 107.0% | — | ||
| Q3 24 | 45.6% | 5.1% | ||
| Q2 24 | 2.5% | 1.6% | ||
| Q1 24 | 4.2% | 2.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.39× | ||
| 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
SLNH
| Data Hosting Revenue | $5.3M | 62% |
| Cryptocurrency Mining Revenue | $2.8M | 33% |
| Other | $389.0K | 5% |
VFF
| International Sales | $8.7M | 71% |
| Cannabis United States Segment | $3.4M | 27% |
