Soluna Q1 net loss widens on higher compensation and financing expenses

Soluna Holdings

18/05/2026 12:40

Overview

U.S. green data center developer's Q1 revenue grew 58% yr/yr, driven by new project launches

Q1 net loss widened yr/yr, mainly due to higher compensation and financing expenses

Company acquired Briscoe Wind Farm and full ownership of Dorothy 1A to support expansion

Outlook

Company expects Briscoe Wind Farm to generate $6 mln-$11 mln in Year-One Adjusted EBITDA

Briscoe Wind Farm projected to deliver $20 mln-$24.4 mln in annualized revenue

Soluna advancing Kati 2 and Dorothy 3 projects to expand AI and HPC capacity

Result Drivers

NEW PROJECTS ONLINE - Co said Q1 revenue growth was driven by Kati 1 going live, Dorothy 1A returning to full capacity, and Dorothy 2 ramping up

HOSTING REVENUE - Higher hosting revenue contributed to gross profit, partially offset by increased depreciation from new assets

HASHPRICE COMPRESSION - Decline in hashprice negatively affected proprietary mining and profit share revenue, especially at Dorothy 1B

Company press release: ID:nBw2JpYtKa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Crypto Mining Revenue
$2.17 mln
Q1 EPS
-$0.24
Q1 Net Income
-$17.9 mln
Q1 Operating Income
-$16.63 mln
Q1 Pretax Profit
-$18.53 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the it services & consulting peer group is "buy"

Wall Street's median 12-month price target for Soluna Holdings Inc is $5.00, about 125.2% above its May 15 closing price of $2.22

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)