Solana Co Q3 revenue beats estimates on SOL staking
HSDT•Solana Co reported Q3 revenue of $3.36 million, above the $3.10 million consensus estimate, as staking income on SOL holdings drove growth. Net income was $105.16 million, reflecting unrealized digital-asset gains, and the company repurchased $2.8 million of stock.
1. Revenue and staking
Q3 revenue rose to $3.36 million, beating the $3.10 million consensus estimate, primarily because of staking income on the company’s SOL holdings. Solana Co reported an average net staking yield of 5.9% APY, compared with a Solana network average of about 4.9%.
2. Earnings and buyback
Net income was $105.16 million and operating income was $101.11 million; the company said net income reflected large unrealized gains on digital assets. It repurchased $2.8 million of stock during the quarter. General and administrative expenses fell due to lower bonus expense and professional fees; the company did not provide specific financial guidance for the current quarter or full year.
