Soluna Holdings (SLNH) Operating Expenses (2010 - 2026)
Soluna Holdings' Operating Expenses was $21.05 million in Q2 2026, up 123.9% from $9.4 million a year earlier and up 1.3% from the prior quarter.
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Analysis
Soluna Holdings (SLNH) Operating Expenses (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Soluna Holdings' Operating Expenses was $65.8 million through Jun 30, 2026, up 156.8% year-over-year; for FY2025, it came in at $47.03 million, up 36.7% from FY2024.
- Operating Expenses shows a five-year compound annual growth rate of 91.4% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $34.39 million in FY2024, $1.48 million in FY2023, -$22,000 in FY2022 and $10.75 million in FY2021 (+486.8%).
- The Q2 2026 figure marks the highest quarterly Operating Expenses in data going back to Q2 2010.
- Compared with a year earlier, Operating Expenses has increased for three straight quarters, with growth averaging 140.1% over the last five quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q1 2022 (growth of 458.9%); the worst was Q2 2023 (a decline of 98.1%).
- Per Business Quant data, SLNH's Operating Expenses in the three quarters before Q2 2026 was $20.77 million (Q1 2026), $13.87 million (Q4 2025) and $10.11 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,964.86 Bn | 3,888.01 Bn | 60.48 Bn | 12.28 Bn |
| 2 | International Business Machines | 222.38 Bn | 173.19 Bn | 9.91 Bn | 7.29 Bn |
| 3 | Cloudflare | 105.62 Bn | 89.15 Bn | 499.52 Mn | 705.21 Mn |
| 4 | Equinix | 96.25 Bn | 84.81 Bn | 1.40 Bn | 1.96 Bn |
| 5 | Nebius | 41.41 Bn | 14.84 Bn | 448.70 Mn | 758.20 Mn |
| 6 | CoreWeave | 33.73 Bn | 20.82 Bn | 1.70 Bn | 2.62 Bn |
| 7 | Verisign | 27.82 Bn | 25.04 Bn | 384.60 Mn | 138.30 Mn |
| 8 | Nutanix | 18.15 Bn | 9.84 Bn | 651.35 Mn | 581.36 Mn |
| 9 | GoDaddy | 13.94 Bn | 9.52 Bn | 828.20 Mn | 955.50 Mn |
| 10 | Soluna Holdings | 76.14 Mn | 76.14 Mn | 766,000.00 | 21.05 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 21.05 Mn |
| Mar 31, 2026 | 20.77 Mn |
| Dec 31, 2025 | 13.87 Mn |
| Sep 30, 2025 | 10.11 Mn |
| Jun 30, 2025 | 9.40 Mn |
| Mar 31, 2025 | 9.86 Mn |
| Dec 31, 2024 | 6.36 Mn |
| Sep 30, 2024 | 6,000.00 |
| Jun 30, 2024 | 49,000.00 |
| Mar 31, 2024 | -23,000.00 |
| Dec 31, 2023 | 1.18 Mn |
| Sep 30, 2023 | 74,000.00 |
| Jun 30, 2023 | 238,000.00 |
| Mar 31, 2023 | -12,000.00 |
| Dec 31, 2022 | -20,000.00 |
| Sep 30, 2022 | -2,000.00 |
| Jun 30, 2022 | 12.75 Mn |
| Mar 31, 2022 | 7.26 Mn |
| Dec 31, 2021 | 4.63 Mn |
| Sep 30, 2021 | 2.88 Mn |
API Access
Soluna Holdings Operating Expenses 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-expenses&ticker=SLNH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "SLNH", "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-expenses&ticker=SLNH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();