Revenue reached $3.6 million, up from $49,000 in Q1 2025, driven by $3.4 million in staking rewards and $0.2 million in other revenue. Gross profit was $3.4 million versus a $72,000 gross loss last year. Operating expenses totaled $103.1 million—driven by $89.2 million in unrealized losses, $7.0 million in realized digital asset losses and $1.7 million in fund investment write-downs—resulting in a $99.6 million operating loss and a $99.8 million net loss of $1.30 per share.

The company executed $3.5 million in share repurchases under its ongoing program, reflecting management’s focus on disciplined capital allocation and enhancing SOL per share. This activity underscores a commitment to returning value to shareholders and supporting long-term per-share growth.

Solana Company advanced its Pacific Backbone validator initiative through a strategic partnership with Jito to accelerate staking infrastructure development and MEV capture. It also maintained collaborations with Anchorage Digital and Kamino to deliver institutional-grade staking services and lending against natively staked SOL.

As of March 31, 2026, the company held $4.4 million in cash and equivalents alongside $193.8 million in digital assets at fair value, including $21.0 million in current assets, $127.6 million in long-term holdings, $23.6 million in restricted assets, $18.3 million in receivables and $3.3 million in fund investments.