Solana Company (HSDT) 10-Year Financial Performance & Capital Metrics

HSDT • • Industrial / General

HealthcareMedical DevicesNeurological & Neurostimulation DevicesNeurostimulation & Neuromodulation

AboutSolana Co. is a neurotech company in the medical device industry that focuses on neurological wellness. The firm develops, licenses and acquires non-invasive platform technologies that amplify the brain’s ability to heal itself and reduce symptoms of neurological disease or trauma. It engages in the development of the investigational portable neuromodulation stimulator, that delivers neurostimulation via the tongue which has been shown in clinical studies to enhance the effectiveness of physical exercises in people with neurological symptoms from disease or trauma such as mild-to-moderate traumatic brain injury. The company was founded on March 13, 2014 and is headquartered in Newtown, PA.Show more

Revenue $520K -19.3%
EBITDA -$14M -12.9%
Net Income -$12M -32.7%
EPS (Diluted) -4.33 +40.5%
Gross Margin -11.92% -225.9%
EBITDA Margin -2662.12% -39.8%
Operating Margin -2673.65% -38.5%
Net Margin -2258.08% -64.3%
ROE -688.88% -308.7%
ROIC -
Debt/Equity 0.01 -53.3%
Interest Coverage -817.82

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 3 (bottom 3%)
✗Sales declining 19.1% over 5 years
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-19.05%

3Y-0.13%

TTM87.45%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-4080.69%

EPS CAGR

10Y-

5Y-

3Y-

TTM-919.23%

ROCE

10Y Avg-6404.52%

5Y Avg-223.45%

3Y Avg-206.79%

Latest-386.62%

Peer Comparison

Neurostimulation & Neuromodulation

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BWAYBrainsWay Ltd.	452.42M	23.10	128.33	29.04%	12.73%	8.92%	1.44%	0.09
INSPInspire Medical Systems, Inc.	2.8B	96.47	55.13	28.49%	5.05%	6.69%	3.25%	0.05
TIVCTivic Health Systems, Inc.	3.11M	1.23	-0.06	-33.67%	-15.57%	-134.25%
COCHEnvoy Medical, Inc.	19.42M	0.67	-0.45	-28.8%	-104.75%
HSDTSolana Company	128.03M	3.10	-0.72	-19.25%	-393.59%	-6.89%		0.01
NXLNexalin Technology, Inc.	12.87M	0.69	-0.83	52.35%	-55.3%	-182.01%
CVRXCVRx, Inc.	143.37M	5.47	-2.06	30.53%	-92.95%	-108.26%		0.71
VANIVivani Medical, Inc.	91.92M	1.26	-2.93			-19.88%		1.10

Profit & Loss

	Mar 2015	Mar 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	478K	1.5M	661K	522K	787K	644K	520K
Revenue Growth %	-	-	-	-	2.13%	-0.56%	-0.21%	0.51%	-0.18%	-0.19%
Cost of Goods Sold+	0	0	17K	59K	910K	751K	298K	463K	583K	582K
COGS % of Revenue	-	-	-	0.12%	0.61%	1.14%	0.57%	0.59%	0.91%	1.12%
Gross Profit+	0	0	-17K	419K	586K	-90K	224K	324K	61K	-62K
Gross Margin %	-	-	-	0.88%	0.39%	-0.14%	0.43%	0.41%	0.09%	-0.12%
Gross Profit Growth %	-	-	-	25.65%	0.4%	-1.15%	3.49%	0.45%	-0.81%	-2.02%
Operating Expenses+	9.81M	9.32M	22.84M	27.09M	24.58M	13.99M	18.37M	15.84M	12.49M	13.84M
OpEx % of Revenue	-	-	-	56.68%	16.43%	21.16%	35.18%	20.13%	19.39%	26.62%
Selling, General & Admin	5.31M	5.67M	8.45M	17.16M	16.52M	9.4M	12.18M	10.64M	9.27M	10.12M
SG&A % of Revenue	-	-	-	35.89%	11.04%	14.23%	23.33%	13.52%	14.4%	19.46%
Research & Development	4.5M	3.65M	14.39M	9.94M	8.06M	4.58M	5.99M	4.26M	2.94M	3.66M
R&D % of Revenue	-	-	-	20.79%	5.39%	6.93%	11.48%	5.42%	4.57%	7.04%
Other Operating Expenses	0	0	0	0	0	0	200K	938K	276K	64K
Operating Income+	-9.81M	-9.32M	-22.85M	-26.68M	-24M	-14.08M	-18.14M	-15.52M	-12.43M	-13.9M
Operating Margin %	-	-	-	-55.81%	-16.04%	-21.3%	-34.75%	-19.72%	-19.3%	-26.74%
Operating Income Growth %	-8.2%	0.05%	-1.45%	-0.17%	0.1%	0.41%	-0.29%	0.14%	0.2%	-0.12%
EBITDA+	-9.66M	-6.83M	-22.84M	-26.62M	-23.8M	-13.59M	-17.83M	-15.26M	-12.27M	-13.84M
EBITDA Margin %	-	-	-	-55.68%	-15.91%	-20.57%	-34.16%	-19.39%	-19.05%	-26.62%
EBITDA Growth %	-8.06%	0.29%	-2.34%	-0.17%	0.11%	0.43%	-0.31%	0.14%	0.2%	-0.13%
D&A (Non-Cash Add-back)	0	0	17K	59K	191K	482K	312K	255K	162K	60K
EBIT	-9.66M	-6.83M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.76M	-12.27M	-13.86M
Net Interest Income+	-156.41K	-46.92K	0	0	0	0	0	-834K	257K	-17K
Interest Income	20.07K	0	0	0	0	0	0	0	257K	0
Interest Expense	176.49K	46.92K	0	0	0	0	0	834K	0	17K
Other Income/Expense	-29.87K	2.44M	-5.17M	-1.95M	14.21M	-54K	10K	1.44M	3.58M	2.16M
Pretax Income+	-9.84M	-6.88M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.07M	-8.85M	-11.74M
Pretax Margin %	-	-	-	-59.88%	-6.54%	-21.38%	-34.74%	-17.88%	-13.74%	-22.58%
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-9.84M	-6.88M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.07M	-8.85M	-11.74M
Net Margin %	-	-	-	-59.88%	-6.54%	-21.38%	-34.74%	-17.88%	-13.74%	-22.58%
Net Income Growth %	-8.22%	0.3%	-3.07%	-0.02%	0.66%	-0.44%	-0.28%	0.22%	0.37%	-0.33%
Net Income (Continuing)	-9.84M	-6.88M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.07M	-8.85M	-11.74M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-754.49	-524.65	-1316.05	-1099.19	-324.78	-294.93	-184.51	-26.06	-7.28	-4.33
EPS Growth %	0.68%	0.3%	-1.51%	0.16%	0.7%	0.09%	0.37%	0.86%	0.72%	0.41%
EPS (Basic)	-754.49	-528.62	-1316.05	-1099.19	-324.78	-294.93	-184.51	-26.06	-7.28	-4.33
Diluted Shares Outstanding	13.04K	15.32K	21.29K	26.04K	30.12K	47.91K	98.27K	539.89K	1.22M	2.71M
Basic Shares Outstanding	13.04K	15.21K	21.29K	26.04K	30.12K	47.91K	98.27K	539.89K	1.22M	2.71M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2015	Mar 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.22M	4.04M	6.62M	26.96M	7.24M	4.68M	12.59M	16.7M	7.3M	3.42M
Cash & Short-Term Investments	796.89K	2.64M	5.56M	25.58M	5.46M	3.33M	11.01M	14.55M	5.18M	1.09M
Cash Only	418.89K	2.64M	5.56M	25.58M	5.46M	3.33M	11.01M	14.55M	5.18M	1.09M
Short-Term Investments	378K	0	0	0	0	0	0	0	0	0
Accounts Receivable	8.83K	399.11K	704K	275K	574K	230K	251K	343K	637K	635K
Days Sales Outstanding	-	-	-	209.99	140.05	127	175.51	159.08	361.03	445.72
Inventory	0	0	0	392K	598K	389K	476K	589K	457K	1.09M
Days Inventory Outstanding	-	-	-	2.43K	239.86	189.06	583.02	464.33	286.11	684.22
Other Current Assets	0	495.41K	352K	264K	0	0	0	399K	333K	7K
Total Non-Current Assets+	0	0	191K	866K	3.11M	1.86M	1.51M	590K	394K	118K
Property, Plant & Equipment	0	0	173K	554K	1.26M	576K	412K	450K	230K	118K
Fixed Asset Turnover	-	-	-	0.86x	1.18x	1.15x	1.27x	1.75x	2.80x	4.41x
Goodwill	0	0	0	0	1.24M	759K	763K	0	0	0
Intangible Assets	0	0	0	0	582K	527K	333K	140K	24K	0
Long-Term Investments	0	0	0	294K	0	0	0	0	0	0
Other Non-Current Assets	0	0	18K	18K	18K	0	0	0	140K	0
Total Assets+	1.22M	4.04M	6.81M	27.83M	10.35M	6.55M	14.1M	17.29M	7.69M	3.54M
Asset Turnover	-	-	-	0.02x	0.14x	0.10x	0.04x	0.05x	0.08x	0.15x
Asset Growth %	2.85%	2.32%	0.69%	3.09%	-0.63%	-0.37%	1.15%	0.23%	-0.56%	-0.54%
Total Current Liabilities+	1.2M	2.33M	14.3M	17.97M	3.8M	2.42M	2.65M	1.99M	1.88M	2.16M
Accounts Payable	0	0	3.48M	2.39M	1.68M	747K	1.07M	627K	531K	873K
Days Payables Outstanding	-	-	74.7K	14.8K	672.24	363.06	1.31K	494.29	332.44	547.5
Short-Term Debt	0	0	0	0	172K	59K	3K	54K	45K	0
Deferred Revenue (Current)	0	0	0	0	430K	281K	148K	27K	43K	39K
Other Current Liabilities	1.2M	2.33M	10.38M	14.71M	802K	841K	721K	771K	751K	859K
Current Ratio	1.02x	1.73x	0.46x	1.50x	1.90x	1.93x	4.75x	8.40x	3.88x	1.58x
Quick Ratio	1.02x	1.73x	0.46x	1.48x	1.75x	1.77x	4.57x	8.10x	3.64x	1.08x
Cash Conversion Cycle	-	-	-	-12.16K	-292.34	-46.99	-550.82	129.12	314.7	582.44
Total Non-Current Liabilities+	1.58M	1.73M	0	0	710K	252K	193K	7.15M	3.46M	320K
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	465K	32K	0	56K	12K	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.58M	1.73M	0	0	0	0	0	6.92M	3.32M	241K
Total Liabilities	2.78M	4.06M	14.3M	17.97M	4.51M	2.68M	2.85M	9.14M	5.34M	2.48M
Total Debt+	0	0	0	0	637K	91K	3K	110K	57K	12K
Net Debt	-418.89K	-2.64M	-5.56M	-25.58M	-4.82M	-3.24M	-11M	-14.44M	-5.13M	-1.08M
Debt / Equity	-	-	-	-	0.11x	0.02x	0.00x	0.01x	0.02x	0.01x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-55.58x	-198.58x	-	-	-	-	-	-18.60x	-	-817.82x
Total Equity+	-1.56M	-16.19K	-7.49M	9.85M	5.83M	3.87M	11.26M	8.15M	2.35M	1.06M
Equity Growth %	-4.83%	0.99%	-461.57%	2.32%	-0.41%	-0.34%	1.91%	-0.28%	-0.71%	-0.55%
Book Value per Share	-119.86	-1.06	-351.74	378.42	193.75	80.80	114.54	15.10	1.93	0.39
Total Shareholders' Equity	-1.56M	-16.19K	-7.49M	9.85M	5.83M	3.87M	11.26M	8.15M	2.35M	1.06M
Common Stock	16.36M	24.35M	52.23M	26K	31K	1K	4K	28K	1K	4K
Retained Earnings	-19.42M	-26.31M	-66.37M	-94.99M	-104.77M	-118.9M	-137.03M	-151.11M	-159.96M	-171.7M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-932.09K	-999.4K	47K	-591K	-902K	-1.1M	-1.13M	-388K	-673K	333K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2015	Mar 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-6.32M	-7.94M	-19.32M	-19.62M	-21M	-11.74M	-13.39M	-14.31M	-10.42M	-11.04M
Operating CF Margin %	-	-	-	-41.05%	-14.04%	-17.76%	-25.65%	-18.18%	-16.17%	-21.23%
Operating CF Growth %	-17.13%	-0.26%	-1.43%	-0.02%	-0.07%	0.44%	-0.14%	-0.07%	0.27%	-0.06%
Net Income	-9.84M	-6.88M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.07M	-8.85M	-11.74M
Depreciation & Amortization	0	0	17K	59K	191K	482K	374K	306K	162K	60K
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	3.26M	-1.21M	6.85M	9.96M	-9.13M	2.93M	4.24M	762K	-1.42M	649K
Working Capital Changes	260.29K	156.02K	1.84M	-1.02M	-2.28M	-1.02M	127K	-1.31M	-311K	-8K
Change in Receivables	-8.95K	-390.27K	-479K	429K	-716K	222K	1K	-103K	-291K	-5K
Change in Inventory	0	0	0	-392K	-206K	4K	-87K	-111K	137K	-607K
Change in Payables	0	0	1.32M	-1.09M	-1.12M	-635K	369K	-418K	-103K	344K
Cash from Investing+	-378K	378K	-190K	-440K	-769K	-9K	-56K	-11K	-29K	-5K
Capital Expenditures	0	0	-190K	-440K	-278K	-63K	-56K	-17K	-29K	-5K
CapEx % of Revenue	-	-	-	0.92%	0.19%	0.1%	0.11%	0.02%	0.05%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	-75K	-7K	0	0	0	0
Cash from Financing+	7.48M	9.69M	22.22M	40.03M	1.65M	9.64M	21.13M	17.87M	1.08M	6.95M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	23.9K	0	0	0	0	0	0	0	0	3.99M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	0	0	-19.52M	-20.06M	-21.28M	-11.8M	-13.44M	-14.33M	-10.45M	-11.05M
FCF Margin %	-	-	-	-41.97%	-14.22%	-17.85%	-25.75%	-18.2%	-16.22%	-21.24%
FCF Growth %	1%	-	-	-0.03%	-0.06%	0.45%	-0.14%	-0.07%	0.27%	-0.06%
FCF per Share	-	-	-916.46	-770.39	-706.50	-246.32	-136.79	-26.54	-8.59	-4.08
FCF Conversion (FCF/Net Income)	0.64x	1.15x	0.69x	0.69x	2.15x	0.83x	0.74x	1.02x	1.18x	0.94x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-2421.57%	-124.69%	-291.16%	-239.73%	-145.02%	-168.56%	-688.88%
Return on Invested Capital (ROIC)	-	-	-	-	-	-1284.31%	-3074.92%	-	-	-
Gross Margin	-	-	-	87.66%	39.17%	-13.62%	42.91%	41.17%	9.47%	-11.92%
Net Margin	-	-	-	-5988.08%	-653.81%	-2137.67%	-3473.56%	-1788.06%	-1374.22%	-2258.08%
Debt / Equity	-	-	-	-	0.11x	0.02x	0.00x	0.01x	0.02x	0.01x
Interest Coverage	-55.58x	-198.58x	-	-	-	-	-	-18.60x	-	-817.82x
FCF Conversion	0.64x	1.15x	0.69x	0.69x	2.15x	0.83x	0.74x	1.02x	1.18x	0.94x
Revenue Growth	-	-	-	-	212.97%	-55.82%	-21.03%	50.77%	-18.17%	-19.25%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Product	1.45M	625K	493K	-	-	-
Product Growth	-	-57.02%	-21.12%	-	-	-
License	5K	27K	-	-	-	-
License Growth	-	440.00%	-	-	-	-
Franchise	37K	9K	-	-	-	-
Franchise Growth	-	-75.68%	-	-	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024
CANADA	-	-	-	460K	281K	295K
CANADA Growth	-	-	-	-	-38.91%	4.98%
UNITED STATES	-	-	-	318K	324K	181K
UNITED STATES Growth	-	-	-	-	1.89%	-44.14%

Frequently Asked Questions

Growth & Financials

Solana Company (HSDT) reported $0.9M in revenue for fiscal year 2024.

Solana Company (HSDT) saw revenue decline by 19.3% over the past year.

Solana Company (HSDT) reported a net loss of $370.4M for fiscal year 2024.

Dividend & Returns

Solana Company (HSDT) has a return on equity (ROE) of -688.9%. Negative ROE indicates the company is unprofitable.

Solana Company (HSDT) had negative free cash flow of $12.7M in fiscal year 2024, likely due to heavy capital investments.

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Solana Company (HSDT) 10-Year Financial Performance & Capital Metrics

HSDT • • Industrial / General

HealthcareMedical DevicesNeurological & Neurostimulation DevicesNeurostimulation & Neuromodulation

Revenue $520K -19.3%
EBITDA -$14M -12.9%
Net Income -$12M -32.7%
EPS (Diluted) -4.33 +40.5%
Gross Margin -11.92% -225.9%
EBITDA Margin -2662.12% -39.8%
Operating Margin -2673.65% -38.5%
Net Margin -2258.08% -64.3%
ROE -688.88% -308.7%
ROIC -
Debt/Equity 0.01 -53.3%
Interest Coverage -817.82

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Weak momentum: RS Rating 3 (bottom 3%)
✗Sales declining 19.1% over 5 years
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-19.05%

3Y-0.13%

TTM87.45%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-4080.69%

EPS CAGR

10Y-

5Y-

3Y-

TTM-919.23%

ROCE

10Y Avg-6404.52%

5Y Avg-223.45%

3Y Avg-206.79%

Latest-386.62%

Peer Comparison

Neurostimulation & Neuromodulation

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BWAYBrainsWay Ltd.	452.42M	23.10	128.33	29.04%	12.73%	8.92%	1.44%	0.09
INSPInspire Medical Systems, Inc.	2.8B	96.47	55.13	28.49%	5.05%	6.69%	3.25%	0.05
TIVCTivic Health Systems, Inc.	3.11M	1.23	-0.06	-33.67%	-15.57%	-134.25%
COCHEnvoy Medical, Inc.	19.42M	0.67	-0.45	-28.8%	-104.75%
HSDTSolana Company	128.03M	3.10	-0.72	-19.25%	-393.59%	-6.89%		0.01
NXLNexalin Technology, Inc.	12.87M	0.69	-0.83	52.35%	-55.3%	-182.01%
CVRXCVRx, Inc.	143.37M	5.47	-2.06	30.53%	-92.95%	-108.26%		0.71
VANIVivani Medical, Inc.	91.92M	1.26	-2.93			-19.88%		1.10

Profit & Loss

	Mar 2015	Mar 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	478K	1.5M	661K	522K	787K	644K	520K
Revenue Growth %	-	-	-	-	2.13%	-0.56%	-0.21%	0.51%	-0.18%	-0.19%
Cost of Goods Sold+	0	0	17K	59K	910K	751K	298K	463K	583K	582K
COGS % of Revenue	-	-	-	0.12%	0.61%	1.14%	0.57%	0.59%	0.91%	1.12%
Gross Profit+	0	0	-17K	419K	586K	-90K	224K	324K	61K	-62K
Gross Margin %	-	-	-	0.88%	0.39%	-0.14%	0.43%	0.41%	0.09%	-0.12%
Gross Profit Growth %	-	-	-	25.65%	0.4%	-1.15%	3.49%	0.45%	-0.81%	-2.02%
Operating Expenses+	9.81M	9.32M	22.84M	27.09M	24.58M	13.99M	18.37M	15.84M	12.49M	13.84M
OpEx % of Revenue	-	-	-	56.68%	16.43%	21.16%	35.18%	20.13%	19.39%	26.62%
Selling, General & Admin	5.31M	5.67M	8.45M	17.16M	16.52M	9.4M	12.18M	10.64M	9.27M	10.12M
SG&A % of Revenue	-	-	-	35.89%	11.04%	14.23%	23.33%	13.52%	14.4%	19.46%
Research & Development	4.5M	3.65M	14.39M	9.94M	8.06M	4.58M	5.99M	4.26M	2.94M	3.66M
R&D % of Revenue	-	-	-	20.79%	5.39%	6.93%	11.48%	5.42%	4.57%	7.04%
Other Operating Expenses	0	0	0	0	0	0	200K	938K	276K	64K
Operating Income+	-9.81M	-9.32M	-22.85M	-26.68M	-24M	-14.08M	-18.14M	-15.52M	-12.43M	-13.9M
Operating Margin %	-	-	-	-55.81%	-16.04%	-21.3%	-34.75%	-19.72%	-19.3%	-26.74%
Operating Income Growth %	-8.2%	0.05%	-1.45%	-0.17%	0.1%	0.41%	-0.29%	0.14%	0.2%	-0.12%
EBITDA+	-9.66M	-6.83M	-22.84M	-26.62M	-23.8M	-13.59M	-17.83M	-15.26M	-12.27M	-13.84M
EBITDA Margin %	-	-	-	-55.68%	-15.91%	-20.57%	-34.16%	-19.39%	-19.05%	-26.62%
EBITDA Growth %	-8.06%	0.29%	-2.34%	-0.17%	0.11%	0.43%	-0.31%	0.14%	0.2%	-0.13%
D&A (Non-Cash Add-back)	0	0	17K	59K	191K	482K	312K	255K	162K	60K
EBIT	-9.66M	-6.83M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.76M	-12.27M	-13.86M
Net Interest Income+	-156.41K	-46.92K	0	0	0	0	0	-834K	257K	-17K
Interest Income	20.07K	0	0	0	0	0	0	0	257K	0
Interest Expense	176.49K	46.92K	0	0	0	0	0	834K	0	17K
Other Income/Expense	-29.87K	2.44M	-5.17M	-1.95M	14.21M	-54K	10K	1.44M	3.58M	2.16M
Pretax Income+	-9.84M	-6.88M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.07M	-8.85M	-11.74M
Pretax Margin %	-	-	-	-59.88%	-6.54%	-21.38%	-34.74%	-17.88%	-13.74%	-22.58%
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	1%	1%	1%	1%
Net Income+	-9.84M	-6.88M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.07M	-8.85M	-11.74M
Net Margin %	-	-	-	-59.88%	-6.54%	-21.38%	-34.74%	-17.88%	-13.74%	-22.58%
Net Income Growth %	-8.22%	0.3%	-3.07%	-0.02%	0.66%	-0.44%	-0.28%	0.22%	0.37%	-0.33%
Net Income (Continuing)	-9.84M	-6.88M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.07M	-8.85M	-11.74M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-754.49	-524.65	-1316.05	-1099.19	-324.78	-294.93	-184.51	-26.06	-7.28	-4.33
EPS Growth %	0.68%	0.3%	-1.51%	0.16%	0.7%	0.09%	0.37%	0.86%	0.72%	0.41%
EPS (Basic)	-754.49	-528.62	-1316.05	-1099.19	-324.78	-294.93	-184.51	-26.06	-7.28	-4.33
Diluted Shares Outstanding	13.04K	15.32K	21.29K	26.04K	30.12K	47.91K	98.27K	539.89K	1.22M	2.71M
Basic Shares Outstanding	13.04K	15.21K	21.29K	26.04K	30.12K	47.91K	98.27K	539.89K	1.22M	2.71M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Mar 2015	Mar 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.22M	4.04M	6.62M	26.96M	7.24M	4.68M	12.59M	16.7M	7.3M	3.42M
Cash & Short-Term Investments	796.89K	2.64M	5.56M	25.58M	5.46M	3.33M	11.01M	14.55M	5.18M	1.09M
Cash Only	418.89K	2.64M	5.56M	25.58M	5.46M	3.33M	11.01M	14.55M	5.18M	1.09M
Short-Term Investments	378K	0	0	0	0	0	0	0	0	0
Accounts Receivable	8.83K	399.11K	704K	275K	574K	230K	251K	343K	637K	635K
Days Sales Outstanding	-	-	-	209.99	140.05	127	175.51	159.08	361.03	445.72
Inventory	0	0	0	392K	598K	389K	476K	589K	457K	1.09M
Days Inventory Outstanding	-	-	-	2.43K	239.86	189.06	583.02	464.33	286.11	684.22
Other Current Assets	0	495.41K	352K	264K	0	0	0	399K	333K	7K
Total Non-Current Assets+	0	0	191K	866K	3.11M	1.86M	1.51M	590K	394K	118K
Property, Plant & Equipment	0	0	173K	554K	1.26M	576K	412K	450K	230K	118K
Fixed Asset Turnover	-	-	-	0.86x	1.18x	1.15x	1.27x	1.75x	2.80x	4.41x
Goodwill	0	0	0	0	1.24M	759K	763K	0	0	0
Intangible Assets	0	0	0	0	582K	527K	333K	140K	24K	0
Long-Term Investments	0	0	0	294K	0	0	0	0	0	0
Other Non-Current Assets	0	0	18K	18K	18K	0	0	0	140K	0
Total Assets+	1.22M	4.04M	6.81M	27.83M	10.35M	6.55M	14.1M	17.29M	7.69M	3.54M
Asset Turnover	-	-	-	0.02x	0.14x	0.10x	0.04x	0.05x	0.08x	0.15x
Asset Growth %	2.85%	2.32%	0.69%	3.09%	-0.63%	-0.37%	1.15%	0.23%	-0.56%	-0.54%
Total Current Liabilities+	1.2M	2.33M	14.3M	17.97M	3.8M	2.42M	2.65M	1.99M	1.88M	2.16M
Accounts Payable	0	0	3.48M	2.39M	1.68M	747K	1.07M	627K	531K	873K
Days Payables Outstanding	-	-	74.7K	14.8K	672.24	363.06	1.31K	494.29	332.44	547.5
Short-Term Debt	0	0	0	0	172K	59K	3K	54K	45K	0
Deferred Revenue (Current)	0	0	0	0	430K	281K	148K	27K	43K	39K
Other Current Liabilities	1.2M	2.33M	10.38M	14.71M	802K	841K	721K	771K	751K	859K
Current Ratio	1.02x	1.73x	0.46x	1.50x	1.90x	1.93x	4.75x	8.40x	3.88x	1.58x
Quick Ratio	1.02x	1.73x	0.46x	1.48x	1.75x	1.77x	4.57x	8.10x	3.64x	1.08x
Cash Conversion Cycle	-	-	-	-12.16K	-292.34	-46.99	-550.82	129.12	314.7	582.44
Total Non-Current Liabilities+	1.58M	1.73M	0	0	710K	252K	193K	7.15M	3.46M	320K
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	465K	32K	0	56K	12K	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.58M	1.73M	0	0	0	0	0	6.92M	3.32M	241K
Total Liabilities	2.78M	4.06M	14.3M	17.97M	4.51M	2.68M	2.85M	9.14M	5.34M	2.48M
Total Debt+	0	0	0	0	637K	91K	3K	110K	57K	12K
Net Debt	-418.89K	-2.64M	-5.56M	-25.58M	-4.82M	-3.24M	-11M	-14.44M	-5.13M	-1.08M
Debt / Equity	-	-	-	-	0.11x	0.02x	0.00x	0.01x	0.02x	0.01x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-55.58x	-198.58x	-	-	-	-	-	-18.60x	-	-817.82x
Total Equity+	-1.56M	-16.19K	-7.49M	9.85M	5.83M	3.87M	11.26M	8.15M	2.35M	1.06M
Equity Growth %	-4.83%	0.99%	-461.57%	2.32%	-0.41%	-0.34%	1.91%	-0.28%	-0.71%	-0.55%
Book Value per Share	-119.86	-1.06	-351.74	378.42	193.75	80.80	114.54	15.10	1.93	0.39
Total Shareholders' Equity	-1.56M	-16.19K	-7.49M	9.85M	5.83M	3.87M	11.26M	8.15M	2.35M	1.06M
Common Stock	16.36M	24.35M	52.23M	26K	31K	1K	4K	28K	1K	4K
Retained Earnings	-19.42M	-26.31M	-66.37M	-94.99M	-104.77M	-118.9M	-137.03M	-151.11M	-159.96M	-171.7M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-932.09K	-999.4K	47K	-591K	-902K	-1.1M	-1.13M	-388K	-673K	333K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2015	Mar 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-6.32M	-7.94M	-19.32M	-19.62M	-21M	-11.74M	-13.39M	-14.31M	-10.42M	-11.04M
Operating CF Margin %	-	-	-	-41.05%	-14.04%	-17.76%	-25.65%	-18.18%	-16.17%	-21.23%
Operating CF Growth %	-17.13%	-0.26%	-1.43%	-0.02%	-0.07%	0.44%	-0.14%	-0.07%	0.27%	-0.06%
Net Income	-9.84M	-6.88M	-28.02M	-28.62M	-9.78M	-14.13M	-18.13M	-14.07M	-8.85M	-11.74M
Depreciation & Amortization	0	0	17K	59K	191K	482K	374K	306K	162K	60K
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	3.26M	-1.21M	6.85M	9.96M	-9.13M	2.93M	4.24M	762K	-1.42M	649K
Working Capital Changes	260.29K	156.02K	1.84M	-1.02M	-2.28M	-1.02M	127K	-1.31M	-311K	-8K
Change in Receivables	-8.95K	-390.27K	-479K	429K	-716K	222K	1K	-103K	-291K	-5K
Change in Inventory	0	0	0	-392K	-206K	4K	-87K	-111K	137K	-607K
Change in Payables	0	0	1.32M	-1.09M	-1.12M	-635K	369K	-418K	-103K	344K
Cash from Investing+	-378K	378K	-190K	-440K	-769K	-9K	-56K	-11K	-29K	-5K
Capital Expenditures	0	0	-190K	-440K	-278K	-63K	-56K	-17K	-29K	-5K
CapEx % of Revenue	-	-	-	0.92%	0.19%	0.1%	0.11%	0.02%	0.05%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	-75K	-7K	0	0	0	0
Cash from Financing+	7.48M	9.69M	22.22M	40.03M	1.65M	9.64M	21.13M	17.87M	1.08M	6.95M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	23.9K	0	0	0	0	0	0	0	0	3.99M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	0	0	-19.52M	-20.06M	-21.28M	-11.8M	-13.44M	-14.33M	-10.45M	-11.05M
FCF Margin %	-	-	-	-41.97%	-14.22%	-17.85%	-25.75%	-18.2%	-16.22%	-21.24%
FCF Growth %	1%	-	-	-0.03%	-0.06%	0.45%	-0.14%	-0.07%	0.27%	-0.06%
FCF per Share	-	-	-916.46	-770.39	-706.50	-246.32	-136.79	-26.54	-8.59	-4.08
FCF Conversion (FCF/Net Income)	0.64x	1.15x	0.69x	0.69x	2.15x	0.83x	0.74x	1.02x	1.18x	0.94x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-	-	-	-2421.57%	-124.69%	-291.16%	-239.73%	-145.02%	-168.56%	-688.88%
Return on Invested Capital (ROIC)	-	-	-	-	-	-1284.31%	-3074.92%	-	-	-
Gross Margin	-	-	-	87.66%	39.17%	-13.62%	42.91%	41.17%	9.47%	-11.92%
Net Margin	-	-	-	-5988.08%	-653.81%	-2137.67%	-3473.56%	-1788.06%	-1374.22%	-2258.08%
Debt / Equity	-	-	-	-	0.11x	0.02x	0.00x	0.01x	0.02x	0.01x
Interest Coverage	-55.58x	-198.58x	-	-	-	-	-	-18.60x	-	-817.82x
FCF Conversion	0.64x	1.15x	0.69x	0.69x	2.15x	0.83x	0.74x	1.02x	1.18x	0.94x
Revenue Growth	-	-	-	-	212.97%	-55.82%	-21.03%	50.77%	-18.17%	-19.25%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Product	1.45M	625K	493K	-	-	-
Product Growth	-	-57.02%	-21.12%	-	-	-
License	5K	27K	-	-	-	-
License Growth	-	440.00%	-	-	-	-
Franchise	37K	9K	-	-	-	-
Franchise Growth	-	-75.68%	-	-	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024
CANADA	-	-	-	460K	281K	295K
CANADA Growth	-	-	-	-	-38.91%	4.98%
UNITED STATES	-	-	-	318K	324K	181K
UNITED STATES Growth	-	-	-	-	1.89%	-44.14%

Frequently Asked Questions

Growth & Financials

Solana Company (HSDT) reported $0.9M in revenue for fiscal year 2024.

Solana Company (HSDT) saw revenue decline by 19.3% over the past year.

Solana Company (HSDT) reported a net loss of $370.4M for fiscal year 2024.

Dividend & Returns

Solana Company (HSDT) has a return on equity (ROE) of -688.9%. Negative ROE indicates the company is unprofitable.

Solana Company (HSDT) had negative free cash flow of $12.7M in fiscal year 2024, likely due to heavy capital investments.