Soluna Q2 Revenue Jumps 145% to $15.1M, Loss Widens to $22.6M

summarizeSummary

Soluna reported Q2 2026 revenue of $15.1 million, up 145% year-over-year, but net loss widened to $22.6 million. The company expanded its development pipeline to 6.3 GW and completed vertical integration at Project Dorothy.

check_boxKey Events · Earnings and Guidance · SLNH

• Q2 Revenue Up 145% YoY

  Revenue reached $15.1 million, up 60% sequentially and 145% year-over-year, driven by Dorothy 2, Kati 1A ramp, and Briscoe's first quarter under ownership.

• Net Loss Widens to $22.6M

  Net loss increased from $17.9 million in Q1 to $22.6 million in Q2, primarily due to a $4.2 million loss on debt extinguishment and new Briscoe overhead and depreciation.

• Adjusted EBITDA Loss Improves 25%

  Adjusted EBITDA loss narrowed to $1.6 million from $2.1 million in Q1, reflecting lower legal and consulting fees and continued gross profit from Dorothy 2.

• Cash Position Strong at $113.4M

  Unrestricted cash of $113.4 million and total debt of $33.1 million provide significant runway for the company's expansion plans.

auto_awesomeAnalysis · SLNH · Crypto Assets

Soluna delivered its fifth consecutive quarter of sequential revenue growth, with Q2 revenue up 145% year-over-year to $15.1 million. The company is scaling its AI data center pipeline to 6.3 GW and completed vertical integration at Project Dorothy. However, net loss widened to $22.6 million from $17.9 million in Q1, driven by a $4.2 million loss on debt extinguishment and new overhead from the Briscoe acquisition. The company holds $113.4 million in unrestricted cash against $33.1 million in total debt, providing runway for its expansion plans. The results show strong top-line momentum but continued bottom-line pressure as Soluna invests heavily in its AI infrastructure build-out.