SLNH (SLNH) financial statements
SLNH reported revenue of $30M in fiscal 2025, up 18.7% a year over 9 years.
Net income was -$53M and the operating margin -113.3%, against -23.2% in 2015.
Free cash flow was -$37M, and the company returned $75,000 in net buybacks.
The diluted share count rose 13709% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SLNH's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6M | $7M | $7M | $7M | $595,000 | $14M | $29M | $21M | $38M | $30M |
| Cost of revenue | $2M | $3M | $2M | $2M | $3M | — | $37M | $16M | $29M | $23M |
| Gross profit | $4M | $4M | $5M | $4M | -$2M | — | -$8M | $3M | -$24M | $2M |
| Research and development | $2M | $1M | $1M | $1M | $1M | — | — | — | — | — |
| Selling, general and admin | $4M | $3M | $3M | $3M | $2M | $11M | $29M | $25M | $28M | $40M |
| Operating income | -$1M | -$361,000 | $588,000 | $259,000 | -$2M | -$4M | -$85M | -$20M | -$48M | -$34M |
| Interest expense | — | — | — | — | — | $2M | $8M | $3M | $3M | $5M |
| Pre-tax income | -$1M | -$368,000 | $588,000 | $295,000 | -$2M | -$6M | -$108M | -$29M | -$61M | -$59M |
| Income tax | $1M | -$9,000 | $6,000 | -$28,000 | -$332,000 | $44,000 | -$1M | -$1M | -$2M | -$2M |
| Net income | -$3M | -$359,000 | $582,000 | $323,000 | $2M | -$5M | -$99M | -$29M | -$63M | -$53M |
| EPS (diluted) | -$13.50 | -$1.50 | $1.50 | $0.75 | $5.00 | -$12.50 | -$174.41 | -$27.79 | -$14.94 | -$2.38 |
| Diluted shares | 0M | 0M | 0M | 0M | 0M | 0M | 1M | 1M | 5M | 29M |
| Gross margin | 60.9% | 61.4% | 68.4% | 66.4% | -348.6% | — | -27.9% | 13.1% | -62.4% | 6.1% |
| Operating margin | -23.2% | -5.1% | 8.3% | 3.9% | -276.0% | -31.2% | -297.0% | -96.1% | -125.0% | -113.3% |
| Net margin | -44.7% | -5.1% | 8.2% | 4.9% | 327.1% | -36.7% | -345.8% | -138.6% | -166.6% | -179.7% |
Balance sheet
Fiscal years, from SLNH's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $462,000 | $3M | $4M | $3M | $3M | $10M | $1M | $6M | $8M | $76M |
| Receivables | $931,000 | $881,000 | $1M | $745,000 | $59,000 | $531,000 | $320,000 | $3M | $3M | $6M |
| Inventory | $1M | $676,000 | $694,000 | $924,000 | $828,000 | — | — | — | — | — |
| Total current assets | $2M | $5M | $6M | $4M | $5M | $25M | $4M | $14M | $13M | $92M |
| Property, plant and equipment | $115,000 | $160,000 | $184,000 | $174,000 | $722,000 | $45M | $42M | $45M | $47M | $75M |
| Total assets | $3M | $5M | $6M | $6M | $9M | $118M | $85M | $91M | $88M | $188M |
| Total current liabilities | $1M | $1M | $1M | $1M | $2M | $16M | $30M | $28M | $48M | $49M |
| Long-term debt | — | — | — | — | — | — | — | — | $7M | $18M |
| Total liabilities | $1M | $1M | $1M | $2M | $3M | $27M | $39M | $38M | $61M | $76M |
| Shareholders' equity | $2M | $4M | $5M | $4M | $6M | $91M | $42M | $27M | -$12M | $54M |
| Net debt | -$462,000 | -$3M | -$4M | -$3M | -$3M | -$10M | -$1M | -$6M | $14M | -$50M |
Cash flow
Fiscal years, from SLNH's 10-K filings with the SEC.
| Fiscal year | 2015 | 2016 | 2017 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$1M | $522,000 | $363,000 | $289,000 | -$1M | $5M | -$6M | -$3M | -$5M | -$9M |
| Capital spending | $55,000 | $136,000 | $107,000 | $83,000 | $805,000 | $46M | $64M | $13M | $9M | $28M |
| Free cash flow | -$1M | $386,000 | $256,000 | $206,000 | -$2M | -$41M | -$70M | -$16M | -$14M | -$37M |
| Stock-based compensation | $141,000 | $449,000 | $41,000 | $31,000 | $40,000 | $2M | $4M | $4M | $5M | $11M |
| Dividends paid | — | — | — | $4M | $0 | $630,000 | — | — | — | — |
| Share buybacks (net) | $0 | -$10,000 | $0 | — | — | — | — | — | $0 | -$75,000 |
| Free cash flow margin | -23.4% | 5.5% | 3.6% | 3.1% | -339.3% | -286.9% | -244.5% | -74.5% | -36.6% | -125.2% |
| Dividends per share | — | — | — | $9.22 | — | $1.33 | — | — | — | — |
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Open SLNH in InvestinglyQuestions
What was SLNH's revenue in 2025?
$30M in fiscal 2025, from its 10-K filing.
How much free cash flow does SLNH generate?
-$37M in fiscal 2025 (operating cash flow minus capital spending).
From SLNH's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.