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Side-by-side financial comparison of Soluna Holdings, Inc (SLNH) and Xos, Inc. (XOS). Click either name above to swap in a different company.
Soluna Holdings, Inc is the larger business by last-quarter revenue ($8.4M vs $5.2M, roughly 1.6× Xos, Inc.). Xos, Inc. runs the higher net margin — -186.8% vs -284.7%, a 97.9% gap on every dollar of revenue. On growth, Soluna Holdings, Inc posted the faster year-over-year revenue change (11.8% vs -54.5%). Over the past eight quarters, Soluna Holdings, Inc's revenue compounded faster (-8.8% CAGR vs -35.7%).
Xos, Inc. is an American manufacturer of commercial electric vehicles (EVs) and mobile EV chargers.
SLNH vs XOS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.4M | $5.2M |
| Net Profit | $-24.0M | $-9.8M |
| Gross Margin | 9.5% | -50.5% |
| Operating Margin | -92.5% | -186.6% |
| Net Margin | -284.7% | -186.8% |
| Revenue YoY | 11.8% | -54.5% |
| Net Profit YoY | -233.2% | 48.6% |
| EPS (diluted) | $-1.14 | $-0.76 |
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 | ||
| Q3 25 | $8.4M | $16.5M | ||
| Q2 25 | $6.2M | $18.4M | ||
| Q1 25 | $5.9M | $5.9M | ||
| Q4 24 | $8.3M | $11.5M | ||
| Q3 24 | $7.5M | $15.8M | ||
| Q2 24 | $9.7M | $15.5M | ||
| Q1 24 | $12.5M | $12.6M |
| Q4 25 | — | $-9.8M | ||
| Q3 25 | $-24.0M | $2.1M | ||
| Q2 25 | $-7.4M | $-7.5M | ||
| Q1 25 | $-7.6M | $-10.2M | ||
| Q4 24 | $-40.0M | $-19.0M | ||
| Q3 24 | $-7.2M | $-10.5M | ||
| Q2 24 | $-10.9M | $-9.7M | ||
| Q1 24 | $-5.3M | $-11.0M |
| Q4 25 | — | -50.5% | ||
| Q3 25 | 9.5% | 15.3% | ||
| Q2 25 | 6.3% | 8.8% | ||
| Q1 25 | 5.7% | 20.6% | ||
| Q4 24 | -360.8% | -32.4% | ||
| Q3 24 | -39.1% | 18.1% | ||
| Q2 24 | 34.6% | 13.1% | ||
| Q1 24 | 45.4% | 22.1% |
| Q4 25 | — | -186.6% | ||
| Q3 25 | -92.5% | -42.4% | ||
| Q2 25 | -107.6% | -38.5% | ||
| Q1 25 | -120.9% | -157.7% | ||
| Q4 24 | -426.0% | -127.0% | ||
| Q3 24 | -119.8% | -61.4% | ||
| Q2 24 | -38.0% | -73.2% | ||
| Q1 24 | 3.2% | -81.1% |
| Q4 25 | — | -186.8% | ||
| Q3 25 | -284.7% | 12.9% | ||
| Q2 25 | -119.9% | -40.8% | ||
| Q1 25 | -127.3% | -173.3% | ||
| Q4 24 | -483.8% | -165.4% | ||
| Q3 24 | -95.5% | -66.6% | ||
| Q2 24 | -112.4% | -62.2% | ||
| Q1 24 | -41.9% | -87.1% |
| Q4 25 | — | $-0.76 | ||
| Q3 25 | $-1.14 | $0.22 | ||
| Q2 25 | $-0.93 | $-0.91 | ||
| Q1 25 | $-1.21 | $-1.26 | ||
| Q4 24 | $-7.14 | $-2.34 | ||
| Q3 24 | $-1.56 | $-1.32 | ||
| Q2 24 | $-3.62 | $-1.23 | ||
| Q1 24 | $-2.62 | $-1.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $14.0M |
| Total DebtLower is stronger | $13.3M | — |
| Stockholders' EquityBook value | $14.5M | $23.3M |
| Total Assets | $152.0M | $60.4M |
| Debt / EquityLower = less leverage | 0.92× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $14.0M | ||
| Q3 25 | — | $14.1M | ||
| Q2 25 | — | $8.8M | ||
| Q1 25 | — | $4.8M | ||
| Q4 24 | — | $11.0M | ||
| Q3 24 | — | $8.4M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $46.2M |
| 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 | — | $23.3M | ||
| Q3 25 | $14.5M | $31.1M | ||
| Q2 25 | $-19.5M | $18.3M | ||
| Q1 25 | $-16.1M | $24.8M | ||
| Q4 24 | $-12.5M | $33.6M | ||
| Q3 24 | $20.9M | $50.8M | ||
| Q2 24 | $24.4M | $59.2M | ||
| Q1 24 | $21.5M | $67.8M |
| Q4 25 | — | $60.4M | ||
| Q3 25 | $152.0M | $73.8M | ||
| Q2 25 | $92.0M | $80.3M | ||
| Q1 25 | $90.0M | $87.7M | ||
| Q4 24 | $88.0M | $98.3M | ||
| Q3 24 | $97.3M | $120.5M | ||
| Q2 24 | $98.7M | $123.4M | ||
| Q1 24 | $90.6M | $135.0M |
| 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 | $2.4M |
| Free Cash FlowOCF − Capex | $-6.8M | — |
| FCF MarginFCF / Revenue | -81.4% | — |
| Capex IntensityCapex / Revenue | 55.2% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.4M | ||
| Q3 25 | $-2.2M | $3.1M | ||
| Q2 25 | $-1.1M | $4.6M | ||
| Q1 25 | $-177.0K | $-4.8M | ||
| Q4 24 | $-5.1M | $3.3M | ||
| Q3 24 | $61.0K | $-11.5M | ||
| Q2 24 | $-7.3M | $-26.0M | ||
| Q1 24 | $3.9M | $-14.6M |
| Q4 25 | — | — | ||
| Q3 25 | $-6.8M | — | ||
| Q2 25 | $-9.7M | — | ||
| Q1 25 | $-4.0M | — | ||
| Q4 24 | $-13.9M | — | ||
| Q3 24 | $-3.4M | $-11.7M | ||
| Q2 24 | $-7.6M | $-26.1M | ||
| Q1 24 | $3.3M | $-14.6M |
| Q4 25 | — | — | ||
| Q3 25 | -81.4% | — | ||
| Q2 25 | -156.8% | — | ||
| Q1 25 | -67.1% | — | ||
| Q4 24 | -168.3% | — | ||
| Q3 24 | -44.8% | -73.9% | ||
| Q2 24 | -78.2% | -168.1% | ||
| Q1 24 | 26.5% | -115.7% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 55.2% | 0.0% | ||
| Q2 25 | 139.0% | 0.0% | ||
| Q1 25 | 64.2% | 0.0% | ||
| Q4 24 | 107.0% | 0.0% | ||
| Q3 24 | 45.6% | 0.9% | ||
| Q2 24 | 2.5% | 0.8% | ||
| Q1 24 | 4.2% | 0.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.45× | ||
| 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% |
XOS
Segment breakdown not available.
