Houdini Swap Generates $1.1M Revenue, 63% EBITDA Margin in First Month Under SOL Strategies
STKE sits 29% above its 52-week low of $0.847 on light trading volume (0.3× avg).
Summary
SOL Strategies' newly acquired Houdini Swap delivered $1.1M CAD in revenue and $740K CAD in EBITDA in its first full month, a 63% margin on $92M CAD in transaction volume. This is the first look at the unit's standalone economics since the $18M acquisition closed June 1. The revenue is activity-based, not tied to SOL's price, giving the company a non-correlated income stream. Houdini also added integrations with Jumper and pump.fun's Terminal, expanding its reach to 39 application partners. The company separately hired Aktiencheck AG to build investor awareness in Germany, a minor IR move. The strong initial margin and volume suggest the acquisition could be accretive faster than expected.
At the time of this announcement, STKE was trading at $1.09 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $40.7M. The 52-week trading range was $0.85 to $76.80. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: TMX Newsfile.