SLN (SLN) financial statements
SLN reported revenue of $559,000 in fiscal 2025, down 70.4% a year over 3 years.
Net income was -$89M and the operating margin -16292.8%, against -281.9% in 2022.
Free cash flow was -$62M.
The diluted share count rose 47% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SLN's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $22M | $32M | $43M | $559,000 |
| Cost of revenue | $13M | $13M | $12M | $215,000 |
| Gross profit | $8M | $19M | $31M | $344,000 |
| Research and development | $44M | $57M | $68M | $68M |
| Selling, general and admin | $26M | $26M | $27M | $22M |
| Operating income | -$61M | -$64M | -$63M | -$91M |
| Pre-tax income | -$50M | -$53M | -$44M | -$89M |
| Income tax | $688,000 | $956,000 | $845,000 | $11,000 |
| Net income | -$50M | -$54M | -$45M | -$89M |
| EPS (diluted) | -$0.52 | -$0.49 | -$0.33 | -$0.63 |
| Diluted shares | 97M | 111M | 139M | 142M |
| Gross margin | 37.8% | 59.3% | 72.7% | 61.5% |
| Operating margin | -281.9% | -203.5% | -146.4% | -16292.8% |
| Net margin | -232.4% | -171.4% | -104.7% | -15851.9% |
Balance sheet
Fiscal years, from SLN's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | — | $69M | $147M | $85M |
| Receivables | — | $290,000 | $972,000 | $0 |
| Total current assets | — | $103M | $187M | $119M |
| Property, plant and equipment | — | $2M | $2M | $2M |
| Goodwill | $10M | $10M | $9M | $11M |
| Total assets | — | $119M | $203M | $131M |
| Total current liabilities | — | $22M | $17M | $14M |
| Total liabilities | — | $97M | $69M | $69M |
| Shareholders' equity | $27M | $22M | $134M | $62M |
| Net debt | — | -$69M | -$121M | -$11M |
Cash flow
Fiscal years, from SLN's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | -$57M | -$49M | -$68M | -$62M |
| Capital spending | $173,000 | $56,000 | $211,000 | $55,000 |
| Free cash flow | -$57M | -$50M | -$68M | -$62M |
| Stock-based compensation | $13M | $16M | $16M | $8M |
| Free cash flow margin | -264.2% | -156.5% | -156.9% | -11149.6% |
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Open SLN in InvestinglyQuestions
What was SLN's revenue in 2025?
$559,000 in fiscal 2025, from its 10-K filing.
How much free cash flow does SLN generate?
-$62M in fiscal 2025 (operating cash flow minus capital spending).
From SLN's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.