Soluna Holdings, Inc. · NASDAQ:SLNH
Soluna — Q3 2021 Earnings Presentation
75 slides from Soluna's earnings presentation, Nov 15, 2021
Slide 1: Q3 2021 Overview and October Flash
HOLDINGS COMPUTING Q3 2021 Overview October Flash November 2021
Slide 2: Preamble
Preamble The following discussion is completely qualified by the legal disclosures on the several pages following this one Our goal is to share with you some of our strategic thinking and financial analysis we are using to guide the growth of our business The discussion is in line with our principle
Slide 3: Legal Disclosure & Disclaimer
Legal Disclosure & Disclaimer • This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act that reflect our current views with respect to, among other things, our operations, business strategy, interpretation of prior development activiti
Slide 4: Legal Disclosure & Disclaimer
Legal Disclosure & Disclaimer The material in this presentation has been prepared by Soluna and is general background information about Soluna’s activities, current as at the date of this presentation and is provided for information purposes only. It should be read in conjunction with Soluna’s perio
Slide 5: Legal Disclosure & Disclaimer: Use of Projections
Legal Disclosure & Disclaimer Use of Projections and Illustrations This presentation contains certain financial forecasts and illustrations. Neither Soluna’s [nor Soluna Holdings] independent auditors have studied, reviewed, compiled or performed any procedures with respect to the projections for th
Slide 6: Key Operating Principles
Key Operating Principles Alignment of Interests & Transparency Private equity firm owns 30%(1) High Velocity Execution Senior Brookstone personnel involved in active executive capacity Focus on Return on Invested Capital (ROIC) & capital discipline Long-term strategy beyond crypto (1) Calculated as
Slide 7: We buy curtailed energy and convert it to computing
We buy curtailed energy from renewable power plants and convert it to clean, low-cost global computing. Excess energy from Batch-oriented renewable sources computing 7
Slide 8: Opportunity beyond crypto
Opportunity beyond crypto Batchable Computing $10 B Digital currencies $5 B Pharma research $40 B Graphics / video processing $40 B Scientific research 8
Slide 9: Agenda
Agenda In this presentation, we will be covering the following items: Ongoing operations at Soluna Computing (previously EcoChain) Soluna Computing site-level October flash Overview of Q3 2021 Report from Moshe Binyamin, CEO of MTI Instruments Report from Jessica Thomas, CFO 9
Slide 10: Business Update
Business Update say
Slide 11: Mechanical Technology Acquired Soluna
Mechanical Technology Acquired Soluna On November 2nd, we announced the completion of our acquisition of Soluna Mechanical Technology, Incorporated is now renamed “Soluna Holdings, Inc.” Our EcoChain business segment is now referred to as “Soluna Computing, Inc.” Our ticker has been changed to “SLNH
Slide 12: We Are Ramping
ie ? acerca We Are Ramping ee ere ee
Slide 13: Our Hashrate Continues To Ramp
Our Hashrate Continues To Ramp 13 *Management Estimate
Slide 14: Details Of Hashrate Ramp
Details Of Hashrate Ramp (TNT) (Anaconda) (Python) Edith Sophie Marie Total Hashrate on October 1st (PH/s) 11.85 11.08 203.20 237.98 Increase 0.00 96.42 122.12 206.69 Hashrate on November 7th (PH/s) 11.85 107.50 325.32 444.67 We installed over 206 PH/s of equipment at Sophie (Anaconda) and Marie (Py
Slide 15: Target Update
Target Update Hashrate target was 722 PH/s by end of Q4 2021(1) Hashrate target by end of Q1 2022 was 912 PH/s(1) As stated in our presentation on October 21st, we believe existing facilities will have a total of about 1.1 EH/s by end of Q1 2022 o 800 PH/s owned, 300 PH/s in Hosting JV There are som
Slide 16: October Highlights
October Highlights Exceeded the October 8th run rate cash contribution margin released in the monthly flash for September 2021(1) by 50% Higher bitcoin prices contributed to some of this growth Yearly Cash Contribution Margin run-rate at $17.3 million Oct 8th October Yearly ($ in 000s) Run-Rate Esti
Slide 17: Cash Contribution Run-Rate
Cash Contribution Run-Rate Progress may be uneven from month-to-month as we ramp up, but we are bringing up 50 MW and filling it with equipment that meets ROIC and hashrate targets (1) Marie (Python) excludes pass-through revenue and expenses from Legacy Hosting customers. Electricity/Direct Costs r
Slide 18: New Facility Nomenclature
New Facility Nomenclature Edith Clarke was a pioneer in electrical engineering & power transmission. She Renamed to was a first in so many ways. The first woman to earn an MSc degree at MIT in 1919. The first woman employed as an electrical engineer at General Electric TNT Edith in 1921. The first f
Slide 19: Facility Developments
Facility Developments Renamed to We continue to optimize equipment mix at this mature facility TNT Edith o October PH/s increased to 11.85PH/s Continues to energize (Live Feed: www.mechtech.com/project-anaconda/) Renamed to o On target to ramp through Q4 o Team aggressively managing supply chain bot
Slide 20: Financial & Strategic Goals: Current
Financial & Strategic Goals: Current Have 50 MW under management by end of Q4 2021 Have all equipment installed by end of Q4 2021, early Q1 2022 Result, depending on BTC price, run rate EBITDA of $20-$40+ million 20
Slide 21: New & Emerging Goals
New & Emerging Goals Finance project “Dorothy” (from Soluna acquisition) o Opportunity to build 50 MW – 150 MW behind the meter at a curtailed wind farm o Nearly shovel ready o 2.3-2.7 ¢ per kWh, 93% uptime power o Project can be brought up in phases o Aiming for 50 MW by end of Q2 2022, and another
Slide 22: Targets For 2022
Targets For 2022 Target by Q1 2022 has been moved from 900 PH/s in Sophie (Anaconda) and Marie (Python) to 1.1 EH/s with 800 PH/s owned and 300 PH/s hosted Target an additional 3 EH/s in 2022 for a total of over 4 EH/s Run-rate corporate EBITDA $120 million to $160 million by early Q4 2022 In mid-De
Slide 23: Financing Options
Financing Options Financing can include the following non-dilutive sources Equipment financing at the project level Debt at the project level Debt at the corporate level Equity partnerships at the project level Preferred equity at the corporate level 23
Slide 24: October 2021 Flash
October 2021 Flash
Slide 25: Consolidated Non-GAAP Revenue Trend
Consolidated Soluna Computing Non-GAAP Revenue Trend(A) (A) Marie (Python) excludes pass-through revenue and expenses from Legacy Hosting customers. Electricity/Direct Costs reduced by Marie (Python) “Prepaid Lease Cost” August 2021 onward. For more information on these non-GAAP financial measures,
Slide 26: Consolidated Non-GAAP Historical Financials
Consolidated Soluna Computing Non-GAAP Historical Financials(A) ($ in 000s) (Unaudited) Estimate Actual Actual Actual Estimate YTD Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Oct 21 Oct 21 Revenue (Non-GAAP) $995 $560 $618 $479 $1,657 $494 $943 $931 $2,368 $2,142 $7,162 Prop Mining 9
Slide 27: Consolidated Operating Metrics
Consolidated Soluna Computing Operating Metrics(A) Key Operating Metrics: Q1 21 Apr 21 May 21 Jun 21 Q2 21(1) Jul 21 Aug 21 Sep 21 Q3 21(2) Oct 21 YTD 21(3) MW Deployed 1.63 3.34 3.27 3.42 3.34 3.28 4.13 7.15 4.85 15.01 5.66 Prop Mining 1.63 3.34 3.27 3.42 3.34 3.28 3.81 3.48 3.52 8.71 4.19 Hosted M
Slide 28: Edith (TNT): Non-GAAP Historical Financials
Edith (TNT): Non-GAAP Historical Financials ($ in 000s) (Unaudited) Estimate Actual Actual Actual Estimate YTD Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Oct 21 Oct 21 Revenue 891 361 356 271 988 277 345 284 905 324 3,108 Electricity/Direct Costs* 121 46 43 44 133 41 50 49 140 49 44
Slide 29: Sophie (Anaconda): Non-GAAP Historical Financials
Sophie (Anaconda): Non-GAAP Historical Financials ($ in 000s) (Unaudited) Estimate Continues to energize Estimate YTD Oct 21 Oct 21 o On target to ramp through Q4 Revenue 543 543 Electricity/Direct Costs* 182 182 o Team aggressively managing supply chain Overhead Costs 77 100 bottlenecks Adjusted Co
Slide 30: Marie (Python): Non-GAAP Historical Financials
Marie (Python): Non-GAAP Historical Financials(A) ($ in 000s) (Unaudited) Estimate Actual Actual Actual Estimate YTD Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Oct 21 Oct 21 Revenue (Non-GAAP) $104 $199 $262 $207 $668 $217 $598 $647 $1,463 $1,274 $3,509 Prop Mining 104 199 262 207 6
Slide 31: Marie (Python): Hosting JV Non-GAAP Historical Financials
Marie (Python): Hosting JV Non-GAAP Historical Financials(A) ($ in 000s) (Unaudited) Estimate Actual Estimate YTD Jul 21 Aug 21 Sep 21 Q3 21 Oct 21 Oct 21 Revenue (Non-GAAP) $0 $104 $245 $349 $481 $831 Electricity/Direct Costs* 0 28 155 184 253 436 Overhead Costs 0 0 0 0 0 0 Adjusted Cost of Cryptoc
Slide 32: Marie (Python): Operating Metrics
Marie (Python): Operating Metrics(A) Key Operating Metrics: Q1 21 Apr 21 May 21 Jun 21 Q2 21(1) Jul 21 Aug 21 Sep 21 Q3 21(2) Oct 21 YTD 21(3) MW Deployed 0.00 1.61 1.51 1.62 1.58 1.49 2.36 5.41 3.09 8.80 5.22 Prop Mining 0.00 1.61 1.51 1.62 1.58 1.49 2.04 1.74 1.76 2.50 1.79 Hosted MW (Legacy) - -
Slide 33: Quarterly Overview
Quarterly Overview
Slide 34: Consolidated Non-GAAP Historical Financials
Consolidated Soluna Computing Non-GAAP Historical Financials(A) ($ in 000s) (Unaudited) Actual Actual Actual Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Revenue (Non-GAAP) $995 $560 $618 $479 $1,657 $494 $943 $931 $2,368 Prop Mining 995 560 618 479 1,657 494 839 686 2,018 Hosting 0 0
Slide 35: Edith (TNT): Corporate SG&A Re-Classification
Edith (TNT): Corporate SG&A Re-Classification In September 2021 o In September, we re-classified corporate expenses that were within Edith’s SG&A historically o The site-level financials for Edith on the following slide have been adjusted to represent SG&A as it would have looked like through the ye
Slide 36: Edith (TNT): Non-GAAP Historical Financials
Edith (TNT): Non-GAAP Historical Financials ($ in 000s) (Unaudited) Actual Actual Actual Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Revenue 891 361 356 271 988 277 345 284 905 Electricity/Direct Costs* 121 46 43 44 133 41 50 49 140 Overhead Costs** 101 23 24 24 71 18 16 28 63 Adjust
Slide 37: Edith (TNT): Strong Return On Capital Investment
Edith (TNT): Strong Return On Capital Investment ~22 months 3x Capital Anticipated ~16 months 2x Capital Achieved All Capital Returned 37
Slide 38: Marie (Python): Non-GAAP Historical Financials
Marie (Python): Non-GAAP Historical Financials(A) ($ in 000s) (Unaudited) Actual Actual Actual Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Revenue (Non-GAAP) $104 $199 $262 $207 $668 $217 $598 $647 $1,463 Prop Mining 104 199 262 207 668 217 494 402 1,114 Hosting 0 0 0 0 0 0 104 245 3
Slide 39: Operational Review
Operational Review Moshe Binyamin MTI Instruments, President 39
Slide 40: Agenda
Agenda Key Priorities Market Revenue Opportunity Q3 Results going Trends Analysis Updates forward 40
Slide 41: Key Market Trends
Key Market Trends Aviation • Test-Cells Increased Peripheral Sales Activity • Interest in MTI Capacitance technology Semi-Conductor continues to accelerate. Exceeded 19’ & 20’ on YTD basis by more than 20% • Delivered first shipment of our NextGen Industry 4.0 Wireless Probes for machine alignment m
Slide 42: Major On-Going Targeted Opportunities For Rest Of 2021
Major On-Going Targeted Opportunities For Rest Of 2021 EV related roller USAF Renewal L3 Harris gap OEM qualifications Several thickness and New PBS GE 12MW Wind displacement measurement OEM Customer Turbine project projects for material manufacturing 42
Slide 43: Q3 2021 Results
Q3 2021 Results $1.95mm 66% $1.29mm Revenue Contribution Contribution Margin (%)(1) Margin ($)(1) (1) Product revenue less cost of product revenue 43
Slide 44: Revenue Analysis
Revenue Analysis Breakdown by Product Line & Geography YTD YTD Contribution Revenue Q1 Revenue Q2 Revenue Q3 Revenue YTD Revenue % of Total Margin improvement for Instruments 504 675 788 1,967 40% 64% both product lines. PBS 833 972 1,161 2,965 60% 71% All geographies Total $1,337 $1,647 $1,948 $4,9
Slide 45: A Deeper Dive Into Revenue
A Deeper Dive Into Revenue Deal Flow Volume Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Lead Forms 509 293 342 312 1,456 350 304 363 Quotes 267 279 236 248 1,030 288 300 336 Orders 170 157 148 180 655 169 240 247 Deal Flow Amount Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2
Slide 46: A Deeper Dive Into Revenue
A Deeper Dive Into Revenue Deal Flow Volume Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2 2021 Q3 2021 Lead Forms 509 293 342 312 1,456 350 304 363 Quotes 267 279 236 248 1,030 288 300 336 Orders 170 157 148 180 655 169 240 247 Deal Flow Amount Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Q1 2021 Q2
Slide 47: New Products Progress Report
New Products Progress Report Very significant addressable market will ramp into 2022 Sensors Aviation Micron Resolution Manufacturing PBS Gen4 1520 Sensor Simulator Cap. Sensors for thickness Wireless Probe System Continued Positive Market Aviation, Power Generation measurement Industrial Systems Fe
Slide 48: MTII Operational Plan For Q4 and Beyond
MTII Operational Plan For Q4 and Beyond • Advance qualification • Target the larger • Designed for production projects to completion manufacturing market for lines • Build Out EV Battery Wireless and Wired self- • Integration software Solutions practice contained sensors included • Build Out Industr
Slide 49: Q3 Financial Highlights
Q3 Financial Highlights Jessica Thomas Chief Financial Officer
Slide 50: Financial Highlights
Financial Highlights Cash On Hand: $15.8 million (Q2 Cash on Hand $2.9 million, up 446.5% QoQ) Year-to-Date YTD 2021 Adjusted Net Facilities & Income: Equipment Investments: $935 thousand $17.7 million QoQ Increase in GAAP Revenue: Preferred Capital Raise: 53.6% (Q3 GAAP Revenue: $5.07 $18.3 million
Slide 51: Non-Recurring SG&A Expenses vs. Recurring
Non-Recurring SG&A Expenses vs. Recurring ($ in 000s) Q1 2021 Q2 2021 Q3 2021 YTD 2021 Total SG&A Expenses (GAAP) 1,838 3,030 2,893 7,761 Non-Recurring Expenses 729 492 799 2,020 Non-Cash Stock 32 1,003 332 1,367 Total Adjustments $761 $1,495 $1,131 $3,387 Total SG&A Expenses less one time expenses
Slide 52: Consolidated GAAP Revenue Trend
Consolidated GAAP Revenue Trend 52
Slide 53: Appendix
Appendix
Slide 54: Summary P&L
Summary P&L ($ in 000s) Q3 2021 Q3 2020 Cryptocurrency mining revenue 2,018 176 Data hosting revenue 1,106 0 Product revenue 1,949 3,511 Total revenue $5,073 $3,687 Cost of cryptocurrency mining revenue 779 248 Cost of data hosting revenue 964 0 Cost of product revenue 661 631 R&D expenses 404 363 S
Slide 55: Summary Balance Sheet
Summary Balance Sheet Sep 30th, Sep 30th, ($ in 000s) 2021 2020 Current Assets: Cash 15,817 2,630 Accounts receivable 1,027 975 Inventories 1,158 828 Prepaid expenses and other current assets 6,618 346 Total Current Assets $24,620 $4,779 Other assets 1,062 309 Deferred income taxes, net 759 759 Equi
Slide 56: Non-GAAP Historical Financials With Legacy Hosting
Consolidated Soluna Computing Non-GAAP Historical Financials With Legacy Hosting ($ in 000s) (Unaudited) Estimate Actual Actual Actual Estimate YTD Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Oct 21 Oct 21 Revenue $995 $560 $618 $479 $1,657 $494 $1,366 $1,264 $3,124 $2,437 $8,213 Pro
Slide 57: Non-GAAP Historical Financials With Legacy Hosting
Consolidated Soluna Computing Non-GAAP Historical Financials With Legacy Hosting ($ in 000s) (Unaudited) Actual Actual Actual Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Revenue $995 $560 $618 $479 $1,657 $494 $1,366 $1,264 $3,124 Prop Mining 995 560 618 479 1,657 494 839 686 2,018 H
Slide 58: Consolidated Operating Metrics With Legacy Hosting
Consolidated Operating Metrics With Legacy Hosting Key Operating Metrics: Q1 21 Apr 21 May 21 Jun 21 Q2 21(1) Jul 21 Aug 21 Sep 21 Q3 21(2) Oct 21 YTD 21(3) MW Deployed 1.63 3.34 3.27 3.42 3.34 3.28 14.32 15.67 11.09 22.21 6.55 Prop Mining 1.63 3.34 3.27 3.42 3.34 3.28 3.81 3.48 3.52 8.71 2.93 Hoste
Slide 59: Marie (Python): Financials With Legacy Hosting
Marie (Python): Non-GAAP Historical Financials With Legacy Hosting ($ in 000s) (Unaudited) Estimate Actual Actual Actual Estimate YTD Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Oct 21 Oct 21 Revenue $104 $199 $262 $207 $668 $217 $1,021 $981 $2,219 $1,569 $4,561 Prop Mining 104 199 2
Slide 60: Marie (Python): Financials With Legacy Hosting
Marie (Python): Non-GAAP Historical Financials With Legacy Hosting ($ in 000s) (Unaudited) Actual Actual Actual Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Revenue $104 $199 $262 $207 $668 $217 $1,021 $981 $2,219 Prop Mining 104 199 262 207 668 217 494 402 1,114 Hosting 0 0 0 0 0 0 5
Slide 61: Edith (TNT): Financials Without SG&A Re-Class
Edith (TNT): Non-GAAP Historical Financials Without Adjusting SG&A Re-Class ($ in 000s) (Unaudited) Actual Actual Actual Q1 21 Apr 21 May 21 Jun 21 Q2 21 Jul 21 Aug 21 Sep 21 Q3 21 Revenue 891 361 356 271 988 277 345 284 905 Electricity/Direct Costs* 121 46 43 44 133 41 50 49 140 Overhead Costs** 10
Slide 62: Reconciliation of non-GAAP results to GAAP measures
Reconciliation of non-GAAP results of operations to the nearest comparable GAAP measures 62
Slide 63: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Cost of Cryptocurrency Revenue to Adjusted Cost of Revenue (Non-GAAP) Q1 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $1,337 $0 $1,337 Cryptocu
Slide 64: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Revenue and Cost of Revenue to Contribution Margin (Non-GAAP) Q1 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $1,337 $0 $1,337 Cryptocurrency r
Slide 65: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Operating (Loss) Income to Adjusted EBITDA Contribution (Non-GAAP) Q1 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Operating (Loss) Income (GAAP) $566 ($287) ($170) ($48) $62 ($402)
Slide 66: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Cost of Cryptocurrency Revenue to Adjusted Cost of Revenue (Non-GAAP) Q2 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $1,647 $0 $1,647 Cryptocu
Slide 67: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Revenue and Cost of Revenue to Contribution Margin (Non-GAAP) Q2 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $1,647 $0 $1,647 Cryptocurrency r
Slide 68: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Operating (Loss) Income to Adjusted EBITDA Contribution (Non-GAAP) Q2 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Net (Loss) Income (GAAP) $554 $321 ($38) ($126) $710 ($270) ($1,61
Slide 69: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from GAAP Revenue to Non-GAAP Revenue Q3 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $1,949 $0 $1,949 Cryptocurrency revenue (GAAP) $905 $2,219 $0
Slide 70: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Cost of Cryptocurrency Revenue to Adjusted Cost of Revenue (Non-GAAP) Q3 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $1,949 $0 $1,949 Cryptocu
Slide 71: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Revenue and Cost of Revenue to Contribution Margin & Cash Contribution Margin (Non-GAAP) Q3 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $1,949
Slide 72: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Operating (Loss) Income to Adjusted EBITDA Contribution (Non-GAAP) Q3 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Net (Loss) Income (GAAP) $581 $259 ($217) ($1,089) ($466) $678 ($8
Slide 73: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from GAAP Revenue to Non-GAAP Revenue YTD Oct 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate EcoChain MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $5,335 $0 $5,335 Cryptocurrency revenue (GAAP) $3,108
Slide 74: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Cost of Cryptocurrency Revenue to Adjusted Cost of Revenue (Non-GAAP) YTD Oct 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $5,335 $0 $5,335 Cry
Slide 75: Reconciliation Of Non-GAAP Results
Reconciliation Of Non-GAAP Results Reconciliation from Revenue and Cost of Revenue to Contribution Margin & Cash Contribution Margin (Non-GAAP) YTD Oct 2021 ($ in 000s) (Unaudited) Soluna Computing Edith Marie Sophie Corporate Total MTII Corporate Consolidated Product revenue (GAAP) $0 $0 $0 $0 $0 $