Solana (HSDT) Gross Margin (2019 - 2026)
Solana's (HSDT) quarterly Gross Margin came in at 96.95% in Q2 2026, up 22021.0% year-over-year from N/an in Q2 2025, and up 2.02% quarter-over-quarter from 95.03% in Q1 2026.
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Solana (HSDT) Gross Margin (2019 - 2026) Analysis & Trends
Solana has disclosed Gross Margin across 8 years of filings, most recently posting 96.95% for Q2 2026.
- In Q2 2026, Gross Margin rose 22021.0% year-over-year to 96.95%; the TTM figure through Jun 2026 stood at 95.53% (up 18468.0% YoY), while the FY2025 annual figure was 91.69%, up 10361.0% from the prior year.
- Gross Margin came in at 96.95% for Q2 2026 at Solana, up from 95.03% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 96.95% in Q2 2026 to a low of 266.67% in Q3 2024.
- Average Gross Margin over 5 years is 3.11%, with a median of 30.48% recorded in 2023.
- Year-over-year, Gross Margin sank 23590 bps in 2024 and jumped 35189 bps in 2025.
- Over 5 years, Gross Margin stood at 46.81% in 2022, then dropped by 30 bps to 32.84% in 2023, then sank by 104 bps to 1.32% in 2024, then soared by 7438 bps to 96.56% in 2025, then rose by 0 bps to 96.95% in 2026.
- Per Business Quant data, the three most recent Gross Margin figures were 96.95% in Q2 2026, 95.03% in Q1 2026, and 96.56% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Circle Internet | 21.16 Bn | 19.43 Bn | 288.85 Mn | 41.19% |
| 2 | Galaxy Digital | 9.54 Bn | 8.88 Bn | 8.38 Bn | 97.89% |
| 3 | Gemini Space Station | 573.86 Mn | 385.24 Mn | - | - |
| 4 | Solana | 177.06 Mn | 173.41 Mn | 2.45 Mn | 96.95% |
| 5 | Empery Digital | 85.45 Mn | 85.45 Mn | -68,184.00 | -85.21% |
| 6 | Metalpha Technology Holding | 40.05 Mn | 36.11 Mn | - | - |
| 7 | Fold Holdings | 29.71 Mn | 1.31 Mn | 5.36 Mn | 88.04% |
| 8 | Amber International Holding | 28.97 Mn | -4.44 Mn | 11.06 Mn | 79.48% |
| 9 | Fabric.AI | 10.06 Mn | -11.61 Mn | - | - |
| 10 | CEA Industries | 7.41 Mn | 324,022.19 | 1.96 Mn | 27.41% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 96.95% |
| Mar 31, 2026 | 95.03% |
| Dec 31, 2025 | 96.56% |
| Sep 30, 2025 | 85.22% |
| Jun 30, 2025 | -123.26% |
| Mar 31, 2025 | -146.94% |
| Dec 31, 2024 | -1.32% |
| Sep 30, 2024 | -266.67% |
| Jun 30, 2024 | 35.16% |
| Mar 31, 2024 | 8.89% |
| Dec 31, 2023 | 32.84% |
| Sep 30, 2023 | -30.77% |
| Jun 30, 2023 | 28.13% |
| Mar 31, 2023 | -9.91% |
| Dec 31, 2022 | 46.81% |
| Sep 30, 2022 | 48.47% |
| Jun 30, 2022 | 26.05% |
| Mar 31, 2022 | 34.74% |
| Dec 31, 2021 | 50.00% |
| Sep 30, 2021 | 21.10% |