Soluna Holdings (SLNH) Operating Expenses (2010 - 2026)

Soluna Holdings (SLNH) reported Operating Expenses of $20.7 million for Q1 2026, up 105.62% on a YoY basis from $10.1 million in Q1 2025, and up 49.59% quarter-over-quarter from $13.9 million in Q4 2025.

Soluna Holdings (SLNH) Operating Expenses (2010 - 2026) Analysis & Trends

Soluna Holdings has reported Operating Expenses for 12 years, with the latest figure at $20.7 million in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses rose 105.62% year-over-year to $20.7 million; the trailing twelve-month figure through Mar 2026 stood at $48.8 million (up 190.48% YoY), and the FY2025 full-year result was $46.9 million, up 30.07% from the prior year.
  • Operating Expenses for Q1 2026 stood at $20.7 million, up from $13.9 million in the prior quarter.
  • The five-year high for Operating Expenses was $20.7 million in Q1 2026, with the low at -$23000.0 in Q1 2024.
  • Historically, Operating Expenses has averaged $4.8 million across 5 years, with a median of $1.2 million in 2023.
  • Annual changes were most pronounced in 2022 — Operating Expenses slumped 100.43% — and 2025, when it surged 142983.33%.
  • Soluna Holdings' Operating Expenses stood at -$20000.0 in 2022, then jumped by 5990.0% to $1.2 million in 2023, then soared by 466.13% to $6.7 million in 2024, then soared by 107.93% to $13.9 million in 2025, then jumped by 49.59% to $20.7 million in 2026.
  • The last three Operating Expenses figures came in at $20.7 million (Q1 2026), $13.9 million (Q4 2025), and $8.6 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 SOL Strategies 96,012.83 Bn 96,012.83 Bn - 386,258.80
2 Morgan Stanley 328.23 Bn 194.70 Bn - 13.47 Bn
3 Goldman Sachs 313.22 Bn -624.33 Bn - 10.43 Bn
4 Schwab Charles 154.90 Bn 109.92 Bn - 3.29 Bn
5 Robinhood Markets 75.17 Bn 70.53 Bn 960.00 Mn 656.00 Mn
6 Interactive Brokers 38.41 Bn 49.00 Bn - 381.00 Mn
7 LPL Financial Holdings 23.13 Bn 22.10 Bn - 4.45 Bn
8 Tradeweb Markets 21.12 Bn 19.87 Bn - 330.51 Mn
9 Circle Internet 19.75 Bn 18.24 Bn 35.01 Mn 242.35 Mn
10 Soluna Holdings 119.84 Mn 118.48 Mn 1.92 Mn 20.74 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 20.74 Mn
Dec 31, 2025 13.87 Mn
Sep 30, 2025 8.59 Mn
Jun 30, 2025 5.64 Mn
Mar 31, 2025 10.09 Mn
Dec 31, 2024 6.67 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 10.37 Mn
Mar 31, 2022 4.88 Mn
Dec 31, 2021 4.63 Mn
Sep 30, 2021 2.88 Mn
Jun 30, 2021 3.06 Mn