Solana (HSDT) Operating Margin (2019 - 2026)
Solana's Operating Margin came in at -1293.47% for Q2 2026, up 6432.11 percentage points from -7725.58% a year earlier and up 1457.65 percentage points from the prior quarter.
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Analysis
Solana (HSDT) Operating Margin (2019 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Solana reported Operating Margin of -3054.97%, up 1877.23 percentage points year-over-year; for FY2025, it came in at -4052.52%, down 1378.86 percentage points from FY2024.
- Operating Margin carries a five-year change of -1876.12 percentage points (FY2020 to FY2025).
- Going back by year, Operating Margin was -2673.65% in FY2024 (-743.84 pp), -1929.81% in FY2023 (+41.72 pp), -1971.54% in FY2022 (+1503.94 pp) and -3475.48% in FY2021 (-1299.08 pp).
- The Q2 2026 figure represents the highest quarterly Operating Margin since Q2 2023.
- Year-over-year, Operating Margin increased in three of the last eight quarters, with an average year-over-year change of -596.04 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in Q2 2026 (a gain of 6432.11 percentage points), and the weakest in Q2 2025 (a drop of 5928.88 percentage points).
- Business Quant data shows HSDT's Operating Margin at -2751.12% (Q1 2026), -3845.73% (Q4 2025) and -5086.08% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cme | 106.56 Bn | 94.66 Bn | - | 64.89% |
| 2 | Intercontinental Exchange | 89.45 Bn | 83.19 Bn | - | 38.52% |
| 3 | Robinhood Markets | 88.18 Bn | 69.22 Bn | - | - |
| 4 | Nasdaq | 53.47 Bn | 50.90 Bn | 1.50 Bn | 28.12% |
| 5 | Interactive Brokers | 37.14 Bn | 14.26 Bn | - | - |
| 6 | Cboe Global Markets | 33.00 Bn | 24.66 Bn | 731.60 Mn | 32.99% |
| 7 | LPL Financial Holdings | 25.71 Bn | 21.03 Bn | - | - |
| 8 | Tradeweb Markets | 25.33 Bn | 17.34 Bn | - | 43.88% |
| 9 | Circle Internet | 21.30 Bn | 15.18 Bn | 288.85 Mn | 4.90% |
| 10 | Solana | 185.83 Mn | 46.40 Mn | 2.45 Mn | -1,293.47% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -1,293.47% |
| Mar 31, 2026 | -2,751.12% |
| Dec 31, 2025 | -3,845.73% |
| Sep 30, 2025 | -5,086.08% |
| Jun 30, 2025 | -7,725.58% |
| Mar 31, 2025 | -8,185.71% |
| Dec 31, 2024 | -2,070.39% |
| Sep 30, 2024 | -7,980.39% |
| Jun 30, 2024 | -1,796.70% |
| Mar 31, 2024 | -2,530.37% |
| Dec 31, 2023 | -1,676.12% |
| Sep 30, 2023 | -2,204.90% |
| Jun 30, 2023 | -1,257.42% |
| Mar 31, 2023 | -3,432.43% |
| Dec 31, 2022 | -946.45% |
| Sep 30, 2022 | -2,476.02% |
| Jun 30, 2022 | -2,882.35% |
| Mar 31, 2022 | -2,402.11% |
| Dec 31, 2021 | -1,589.92% |
| Sep 30, 2021 | -4,011.93% |
API Access
Solana Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=HSDT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "HSDT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=HSDT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();