v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash $ 113,364 $ 76,423
Restricted cash 10,005 4,500
Accounts receivable, net (allowance for expected credit losses of $0 at June 30, 2026 and $244 at December 31, 2025) 6,737 5,522
Prepaid expenses and other current assets 4,513 2,664
Loan commitment assets 0 3,018
Total Current Assets 134,619 92,127
Restricted cash, noncurrent 7,920 7,920
Other assets 973 978
Deposits and credits on equipment 208 1,377
Property, plant and equipment, net 137,801 74,783
Intangible assets, net 6,068 8,261
Operating lease right-of-use assets 4,152 252
Financing lease right-of-use assets 1,773 2,246
Total Assets 293,514 187,944
Current Liabilities:    
Accounts payable 3,785 4,859
Accrued liabilities 7,549 13,182
Accrued interest payable 59 303
Contract termination liability 19,348 19,348
Current portion of debt 30,103 8,858
Income tax payable 147 123
Deferred revenue 558 518
Customer deposits- current 3,020 1,913
Operating lease liability 108 65
Financing lease liability 23 20
Other current liabilities 742 0
Total Current Liabilities 65,442 49,189
Other liabilities 414 743
Customer deposits- long-term 1,503 2,533
Long-term debt 3,016 17,899
Asset retirement obligation 3,664 0
Operating lease liability 4,276 187
Financing lease liability 1,769 2,236
Deferred tax liability, net 1,732 2,911
Total Liabilities 81,816 75,698
Commitments and Contingencies (Note 12)
Mezzanine Equity:    
Placement agent warrants 1,313 1,313
Equity:    
Common stock, par value $0.001 per share, authorized 375,000,000; 225,986,784 shares issued and 225,821,479 shares outstanding as of June 30, 2026 and 102,617,684 shares issued and 102,531,089 shares outstanding as of December 31, 2025 226 103
Additional paid-in capital 575,594 435,030
Accumulated deficit (405,890) (367,715)
Common stock in treasury, at cost, 165,305 shares at June 30, 2026 and 86,595 shares December 31, 2025 (14,004) (13,873)
Total Soluna Holdings, Inc. Stockholders’ Equity (Deficit) 155,931 53,550
Non-Controlling Interest 54,454 57,383
Total Equity 210,385 110,933
Total Liabilities, Mezzanine Equity, and Equity 293,514 187,944
Series A Shares    
Equity:    
Preferred stock value 5 5
Series B Shares    
Equity:    
Preferred stock value $ 0 $ 0