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HSDT

Solana Company

HSDT

Solana Company • NASDAQ
$4.15 ▲ 3.49% (+0.14)
Market Cap $167.24 M
52w High $1200.00
52w Low $2.83
Dividend Yield 0%
P/E -0.01
Volume 857.64K
Outstanding Shares 40.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $697K ▲ $5.504M ▲ $-352.768M ▼ -50.612K% ▼ $-32.89 ▼ $-352.104M ▼
Q2-2025 $43K ▼ $3.269M ▼ $-9.833M ▼ -22.867K% ▼ $-3.99 ▼ $-9.196M ▼
Q1-2025 $49K ▼ $3.939M ▲ $-3.838M ▲ -7.833K% ▼ $-1.42 ▲ $-4.003M ▼
Q4-2024 $152K ▲ $3.145M ▼ $-3.928M ▼ -2.584K% ▲ $-1.45 ▼ $-3.095M ▲
Q3-2024 $51K $3.934M $-3.686M -7.227K% $-0.99 $-4.054M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $124.051M ▲ $475.92M ▲ $628.312M ▲ $-152.392M ▼
Q2-2025 $6.078M ▲ $7.893M ▲ $1.867M ▼ $6.026M ▲
Q1-2025 $1.109M ▲ $3.484M ▼ $2.204M ▼ $1.28M ▲
Q4-2024 $1.088M ▼ $3.542M ▼ $2.483M ▲ $1.059M ▼
Q3-2024 $3.468M $5.585M $1.786M $3.799M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-352.77M ▼ $-4.044M ▼ $-267.383M ▼ $389.399M ▲ $117.973M ▲ $-4.044M ▼
Q2-2025 $-9.833M ▼ $-2.757M ▲ $0 $7.726M ▲ $4.969M ▲ $-2.757M ▲
Q1-2025 $-3.838M ▲ $-3.536M ▼ $0 $3.557M ▲ $21K ▲ $-3.536M ▼
Q4-2024 $-3.928M ▼ $-2.378M ▲ $0 $0 ▲ $-2.38M ▲ $-2.378M ▲
Q3-2024 $-3.686M $-2.771M $0 $-149K $-2.919M $-2.771M

Revenue by Products

Product Q2-2021Q3-2021Q4-2021Q1-2022
Product
Product
 $0 ▲$0 ▲$0 ▲$0 ▲
Franchise
Franchise
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement The income picture shows a company that has effectively no revenue over the past several years but continues to report ongoing operating losses, even if the absolute dollar amounts now look very small. The pattern suggests the business has not yet established a commercially meaningful product or recurring sales base. Losses have been consistent year after year, indicating that current operations and spending are not being covered by income from customers. Earnings per share look extremely negative mainly because the share count has been repeatedly compressed by large reverse stock splits, not because the business suddenly became vastly worse in any single year.

Balance Sheet

Balance Sheet The balance sheet appears extremely thin, with only a small base of assets and equity and no meaningful use of debt. Cash balances are modest and have trended down, which limits flexibility for investment or for weathering setbacks. The lack of debt reduces financial strain from interest payments, but the very small asset and equity base also signals that the company has little cushion if results disappoint. Multiple reverse stock splits in recent years further suggest that shareholder value has been heavily eroded over time and that capital has likely been raised and diluted, then lost, without building a strong asset foundation.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, pointing to a business that consumes cash rather than generates it. Free cash flow is also negative, but there is essentially no spending on long‑term assets, which means the company is not investing heavily in physical capacity. This pattern is typical of a very small or early‑stage company funding ongoing overhead, regulatory, or development costs without offsetting inflows from customers. The key risk is that, with limited cash and no strong internal cash generation, the business may need fresh external funding simply to continue at its current pace.

Competitive Edge

Competitive Edge Based purely on the financials, the company does not yet appear to have a proven commercial foothold in its healthcare device niche. The absence of revenue suggests that, if there is a product, it has not yet gained traction in the market, or it is still pre‑launch or in a narrow test phase. In a medical‑device setting, that often means the firm is competing against much larger, well‑capitalized companies while still working through clinical, regulatory, or reimbursement hurdles. The multiple reverse splits and very small scale imply limited bargaining power with partners, payers, and distributors, which can weigh on its competitive position until it demonstrates clear clinical or economic advantages.

Innovation and R&D

Innovation and R&D There is a clear mismatch between the ticker symbol and the narrative content provided: the text describes the Solana blockchain, while the financials and sector label point to a tiny healthcare devices business. If we focus strictly on the supplied narrative, it portrays a highly innovative technology platform with distinctive design choices, a growing developer ecosystem, and active work on reliability and scale—traits one would normally associate with a tech or crypto network, not a medical‑device issuer. If instead we infer from the financials, any R&D effort is likely lean and narrowly focused, as the company’s resources are small and cash burn is ongoing. Overall, the materials hint at ambition around advanced technology, but the disconnect between story and financial reality raises questions about how much of that innovation is truly backed by this particular corporate entity and its balance sheet.

Summary

Overall, the data describe an extremely small, loss‑making company with no established revenue base, a very thin balance sheet, and repeated reverse stock splits that signal past value erosion. The business appears to be in a fragile financial position, relying on external funding to cover ongoing operating costs, with limited room for prolonged setbacks. From a strategic point of view, the company either has not yet reached a commercial launch or has struggled to gain traction, which weakens its competitive standing in a demanding healthcare environment. The additional narrative material about Solana suggests there may be confusion about the underlying business model, so any interpretation of its technological edge or long‑term prospects should be made cautiously and with a clear separation between blockchain‑related innovation and the very constrained medical‑device financial profile shown here.

NEWS

November 18, 2025 · 4:05 PM UTC

Solana Company Reports Third Quarter 2025 Financial Results

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November 12, 2025 · 4:30 PM UTC

Solana Company to Release Third Quarter Operating Results on November 18, 2025

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October 29, 2025 · 12:20 PM UTC

CORRECTION – Solana Company Announces Updated SOL Holdings and Industry Leading Staking Yield

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October 23, 2025 · 9:05 AM UTC

Solana Company (NASDAQ: HSDT) Strengthens Treasury Strategy with Helius, Anchorage Digital and Twinstake Staking Services

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October 20, 2025 · 10:18 AM UTC

Solana Company Executive Chairman's Message: October 20th, 2025

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