Nasdaq-listed Solana Company (NASDAQ: HSDT) released its financial results for the third quarter of 2026, highlighting a milestone period driven by treasury staking operations and validator infrastructure growth.
Key Q3 2026 Financial Highlights
Quarterly Revenue: Reached $3.4 million, up significantly from $697,000 in the same period last year and $2.5 million in Q2 2026.
Staking Revenue Breakdown: Approximately $3.3 million of the total revenue was generated directly from staking income on the company's internal treasury holdings and its regional validator operations.
Gross Profit & Margins: Gross profit hit $2.7 million, representing a robust 82% gross margin.
Net Income Reversal: Reported a net income of $105.2 million (a sharp turnaround from a net loss of $352.8 million in the prior-year period), heavily aided by a $102.7 million unrealized gain from a roughly 60% increase in the market price of SOL during the quarter.
Treasury Size: As of September 30, 2026, the company held approximately 2.4 million SOL, carrying a fair market value of roughly $288.2 million.
Pacific Backbone Infrastructure: The company's Asia-Pacific validator cluster expansion drove strong third-party staking delegation, scaling past 1 million SOL in delegated third-party stake by the close of the quarter.
Key Q3 2026 Financial Highlights
Quarterly Revenue: Reached $3.4 million, up significantly from $697,000 in the same period last year and $2.5 million in Q2 2026.
Staking Revenue Breakdown: Approximately $3.3 million of the total revenue was generated directly from staking income on the company's internal treasury holdings and its regional validator operations.
Gross Profit & Margins: Gross profit hit $2.7 million, representing a robust 82% gross margin.
Net Income Reversal: Reported a net income of $105.2 million (a sharp turnaround from a net loss of $352.8 million in the prior-year period), heavily aided by a $102.7 million unrealized gain from a roughly 60% increase in the market price of SOL during the quarter.
Treasury Size: As of September 30, 2026, the company held approximately 2.4 million SOL, carrying a fair market value of roughly $288.2 million.
Pacific Backbone Infrastructure: The company's Asia-Pacific validator cluster expansion drove strong third-party staking delegation, scaling past 1 million SOL in delegated third-party stake by the close of the quarter.