Business
Solana Company Reports First Quarter 2026 Financial Results
NEWTOWN, Pa., May 15, 2026 (GLOBE NEWSWIRE) -- Solana Company (NASDAQ: HSDT) (the “Company” or “HSDT”), a publicly listed company, today announced results for
About this update from Solana Company
[{"type":"text","content":"NEWTOWN, Pa., May 15, 2026 (GLOBE NEWSWIRE) -- Solana Company (NASDAQ: HSDT) (the “Company” or “HSDT”), a publicly listed company, today announced results for the quarter ended March 31, 2026. First Quarter Recent Business Updates Generated $3.6 million in revenue in the first quarter of 2026, with the increase primarily driven by the Company’s SOL earning staking yieldExecuted approximately $3.5 million in share repurchases during the quarter under the Company's repurchase programAdvanced the Pacific Backbone validator infrastructure initiative through strategic partnership with Jito to accelerate staking infrastructure development and MEV capture capabilitiesContinued collaboration with Anchorage Digital and Kamino for institutional-grade staking and lending against natively staked SOLAppointed Madelene Gani as Chief Operating Officer and Deputy Chief Financial Officer on April 6, 2026, bringing deep financial and operational expertise from hyper-growth Web3 companies \"Despite the volatility in digital asset markets during the quarter, we remain focused on the fundamentals: growing our SOL per share through disciplined capital allocation, generating consistent staking yield, and building out the diversified revenue streams that we believe will drive long-term value creation,\" said Joseph Chee, Executive Chairman at Solana Company. \"We are not simply holding digital assets; we are building an operating business with recurring revenue streams that leverage our institutional-grade infrastructure and our position as a strategic partner to the Solana Foundation.\" Cosmo Jiang, General Partner at Pantera Capital and board director at Solana Company said, \"The first quarter demonstrated the resilience of our digital asset treasury strategy. Our average net staking yield reflects the institutional-grade infrastructure and active management approach that Pantera applies across its broader digital asset portfolio. We remain committed to capital allocation strategies that are accretive on a SOL per share basis.\" First Quarter 2026 Financial Results First quarter revenue was $3.6 million, consisting primarily of $3.4 million in staking rewards income and $0.2 million in other revenue. This represents significant growth from the $49,000 in revenue reported in the first quarter of 2025, which did not include staking revenue generated t...