Soluna Holdings, Inc. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Date: Q2 2026 Earnings Conference Call (First formal quarterly webcast)

Key Thesis: Power is the primary constraint in the AI era. Soluna secures long-term behind-the-meter renewable power access at scale, bypassing grid queues to deliver contracted data center capacity and cash flows.

Financial Performance (Q2 2026 vs. Prior Periods)

  • Revenue: $15.1 million, +145% YoY (Q2 2025 baseline). Fifth consecutive quarter of sequential growth. Note: Pass-through electricity costs now reported gross (adds ~$4.4M to both revenue and cost of revenue; no impact on gross profit). Excluding presentation change: +73% YoY and +13% sequential.
  • Gross Profit: $766,000, -35% YoY (from $1.2 million in Q2 2025). Impacted by new site costs (Kati 1 phasing) and Briscoe Wind Farm repair/maintenance (~$1.5M). Data hosting segment delivered $1.9M segment gross profit; proprietary mining posted a loss due to 34% hash price decline ($51 to $34).
  • Adjusted EBITDA: -$1.6 million loss, improved 25% sequentially (from -$2.1M in Q1 2026) and ~flat YoY. Stronger trend: +76% improvement vs. Q3 2025 loss of $6.4M.
  • Net Loss: $22.6 million (vs. $7.8 million in Q2 2025), driven by non-cash stock compensation ($9.4M), interest expense ($3.2M), and $4.2M debt extinguishment loss.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Hello, everyone. Thank you for joining us, and welcome to the Soluna Second Quarter 2026 Earnings Conference Call. [Operator Instructions] I will now hand the conference over to Mike Tu, Vice President of Finance. Mike, please go ahead. Michael Tu: Good afternoon, and thank you for joining Soluna's Second Quarter 2026 Earnings Call. Our earnings release and the accompanying presentation are available in the Investor Relations section of solunacomputing.com, and this call is being webcast with the presentation. With me today are John Belizaire, Chief Executive Officer; Ryan Carver, Chief Development Officer; and Michael Picchi, Chief Financial Officer. Before management begins their formal remarks, we would like to remind everyone that some statements we're making today may be considered forward-looking statements under securities laws and involve a number of risks and uncertainties. As a result, we caution you that there are a number of factors, many of which are beyond our control, which could cause actual results and events to differ materially from those described in the forward-looking statements. For more detailed risks, uncertainties, and assumptions relating to our forward-looking statements, please see the disclosures in our earnings release and public filings made with the Securities and Exchange Commission. We disclaim any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional