Solana (HSDT) Operating Expenses (2016 - 2026)

Solana (HSDT) reported Operating Expenses of $103.1 million for Q1 2026, up 2516.37% on a YoY basis from $3.9 million in Q1 2025, and down 50.0% sequentially from $206.1 million in Q4 2025.

Solana (HSDT) Operating Expenses (2016 - 2026) Analysis & Trends

Solana (HSDT) has 11 years of Operating Expenses data on file, last reported at $103.1 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses rose 2516.37% year-over-year to $103.1 million; the trailing twelve-month figure through Mar 2026 stood at $348.5 million (up 2328.06% YoY), and the FY2025 full-year result was $249.4 million, up 1701.58% from the prior year.
  • Operating Expenses slipped to $103.1 million in Q1 2026, from $206.1 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $206.1 million in Q4 2025 to a low of $2.3 million in Q4 2023.
  • A 5-year average of $23.2 million and a median of $3.5 million in 2022 frame the typical range for Operating Expenses.
  • Across the five-year window, Operating Expenses tumbled 43.91% in 2022 and surged 6453.35% in 2025, its largest moves.
  • Tracing HSDT's Operating Expenses over 5 years: stood at $2.8 million in 2022, then fell by 18.24% to $2.3 million in 2023, then surged by 37.34% to $3.1 million in 2024, then surged by 6453.35% to $206.1 million in 2025, then slumped by 50.0% to $103.1 million in 2026.
  • Business Quant data shows HSDT's Operating Expenses at $103.1 million in Q1 2026, $206.1 million in Q4 2025, and $36.0 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Brookfield 1,236.60 Bn 1,311.20 Bn 18.56 Bn -14.14 Bn
2 BlackRock 161.01 Bn 148.08 Bn - 3.88 Bn
3 Blackstone 97.77 Bn 96.72 Bn - 2.26 Bn
4 Apollo Global Management 70.80 Bn 90.38 Bn -409.00 Mn 4.68 Bn
5 State Street 51.30 Bn 51.30 Bn - 2.81 Bn
6 Ameriprise Financial 48.54 Bn 39.27 Bn 4.57 Bn 3.67 Bn
7 Northern Trust 32.93 Bn 32.93 Bn - 1.51 Bn
8 Raymond James Financial 32.59 Bn 17.67 Bn - 3.12 Bn
9 Price T Rowe 24.70 Bn 21.13 Bn - 1.18 Bn
10 Solana 190.40 -4.39 Mn 3.44 Mn 103.06 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 103.06 Mn
Dec 31, 2025 206.10 Mn
Sep 30, 2025 36.04 Mn
Jun 30, 2025 3.27 Mn
Mar 31, 2025 3.94 Mn
Dec 31, 2024 3.15 Mn
Sep 30, 2024 3.93 Mn
Jun 30, 2024 3.33 Mn
Mar 31, 2024 3.43 Mn
Dec 31, 2023 2.29 Mn
Sep 30, 2023 3.11 Mn
Jun 30, 2023 3.29 Mn
Mar 31, 2023 3.80 Mn
Dec 31, 2022 2.80 Mn
Sep 30, 2022 4.95 Mn
Jun 30, 2022 3.46 Mn
Mar 31, 2022 4.63 Mn
Dec 31, 2021 4.23 Mn
Sep 30, 2021 4.40 Mn
Jun 30, 2021 6.17 Mn