Revenue: As of FY2026 Q1, the actual value is USD 9.394 M.EPS: As of FY2026 Q1, the actual value is USD -0.24.EBIT: As of FY2026 Q1, the actual value is USD -15.15 M.<h4>Overall Financial Highlights</h4>Soluna Holdings, Inc. reported total revenue of $9.4 million for Q1 2026, marking a 58% increase year-over-year compared to $5.9 million in Q1 2025, and a 2% or $186 thousand sequential increase from Q4 2025. The net loss for Q1 2026 was - $17.9 million, an increase of - $10.5 million year-over-year from a net loss of - $7.3 million in Q1 2025, and increased sequentially by - $1 million from Q4 2025 to Q1 2026. EBITDA loss for Q1 2026 was - $12.4 million, a decline of - $9.4 million year-over-year from - $3.1 million in Q1 2025. Adjusted EBITDA loss for Q1 2026 was - $2.1 million, representing a modest decline of - $444 thousand year-over-year from - $1.6 million in Q1 2025, although it improved sequentially from Q4 2025 to Q1 2026. Gross profit for Q1 2026 increased sequentially from $1.8 million to $1.9 million, compared to $1.2 million in Q1 2025. The operating loss for Q1 2026 was - $16.6 million, compared to - $7.2 million in Q1 2025. <h4>Segment Revenue (Q1 2026 vs Q1 2025)</h4>Cryptocurrency Mining Revenue was $2.2 million in Q1 2026, down from $3.0 million in Q1 2025. Data Hosting Revenue increased to $6.7 million in Q1 2026 from $2.4 million in Q1 2025. Demand Response Service Revenue remained stable at $0.5 million in both Q1 2026 and Q1 2025. High-Performance Computing Service Revenue was $0 in Q1 2026, down from $0.03 million in Q1 2025. <h4>Segment Gross Profit (Q1 2026)</h4>Gross profit for Project Dorothy 1B was - $0.3 million. Project Dorothy 1A generated $0.8 million in gross profit. Project Dorothy 2 had a gross profit of $1.4 million. Project Sophie reported $0.5 million in gross profit. Project Kati 1 had a gross profit of - $0.3 million. Other segments had a gross profit of - $0.1 million. <h4>Project-Level Gross Margins (Q1 2026)</h4>Dorothy 1A achieved a 36% gross margin. Dorothy 2 had a 41% gross margin. Sophie’s gross margin was 37%. Dorothy 1B experienced a -15% gross margin loss. <h4>Cash Flow (Three Months Ended March 31)</h4>Net cash used in operating activities was - $6.4 million in 2026, compared to - $0.2 million in 2025. Net cash used in investing activities was - $6.2 million in 2026, compared to - $3.6 million in 2025. Net cash provided by financing activities was $9.7 million in 2026, compared to $7.8 million in 2025. Cash &amp; restricted cash at the end of the period totaled $86.0 million in 2026, significantly up from $14.4 million in 2025. <h4>Operational Metrics &amp; Developments</h4>Project Kati 1A completed all three phases (48 MW) ahead of schedule, supported by $10.9 million in project-level financing. Project Kati 2 advanced with an AI partnership, securing over 500 acres for 100+ MW of AI and HPC capacity, with Phase 1 at 30% schematic design. Project Dorothy 1A completed a 20 MW fleet upgrade, returning the site to full capacity, and expanded its hosting relationship with Blockware by 6 MW. The development pipeline surpassed 4.3 GW, including an AI-focused pipeline for Kati 2 (300 MW+), Dorothy 3 (300 MW+), and early-stage greenfield sites. <h4>Outlook / Guidance</h4>Soluna Holdings, Inc. acquired the 150 MW Briscoe Wind Farm for $53 million, which is projected to generate $6 million to $11 million in Year-One Adjusted EBITDA and $20.0 million to $24.4 million in annualized revenue. The company also launched development for the Dorothy 3 AI Campus, a planned 300+ MW AI/HPC campus. These initiatives are expected to position Soluna for sustained growth and accelerating momentum.

Soluna | 8-K: FY2026 Q1 Revenue: USD 9.394 M