Soluna Holdings, Inc. (SLNH) Revenue History
Annual and quarterly revenue from 1991 to present
SLNH Revenue Over Time (1991–2025)
SLNH Revenue Growth History
19 of 33 years with positive growth- FY1991 revenue growth
- N/A
- FY1992 revenue growth
- +8.2%
- FY1993 revenue growth
- -2.9%
- FY1995 revenue growth
- -56.3%
- FY1996 revenue growth
- +7.2%
- FY1997 revenue growth
- +0.2%
- FY1998 revenue growth
- -34.3%
- FY1999 revenue growth
- -38.6%
- FY2000 revenue growth
- -57.0%
- FY2001 revenue growth
- +31.6%
- FY2002 revenue growth
- -5.0%
- FY2003 revenue growth
- +13.3%
- FY2004 revenue growth
- +9.1%
- FY2005 revenue growth
- -8.5%
- FY2006 revenue growth
- +4.0%
- FY2007 revenue growth
- +29.8%
- FY2008 revenue growth
- -30.3%
- FY2009 revenue growth
- +12.6%
- FY2010 revenue growth
- +1.3%
- FY2011 revenue growth
- +22.3%
- FY2012 revenue growth
- -42.7%
- FY2013 revenue growth
- +41.6%
- FY2014 revenue growth
- +5.1%
- FY2015 revenue growth
- -27.9%
- FY2016 revenue growth
- +11.5%
- FY2017 revenue growth
- +0.1%
- FY2018 revenue growth
- +14.2%
- FY2019 revenue growth
- -18.5%
- FY2020 revenue growth
- -90.9%
- FY2021 revenue growth
- +2310.9%
- FY2022 revenue growth
- +99.0%
- FY2023 revenue growth
- -26.2%
- FY2024 revenue growth
- +80.5%
- FY2025 revenue growth
- -21.8%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $9.4M | +58.3% |
| Q4 2025 | $9.2M | +11.3% |
| Q3 2025 | $8.4M | +11.8% |
| Q2 2025 | $6.2M | -36.4% |
| Q1 2025 | $5.9M | -52.7% |
| Q4 2024 | $8.3M | -18.2% |
| Q3 2024 | $7.5M | +29.8% |
| Q2 2024 | $9.7M | +367.8% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
SLNH's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
SLNH Revenue Analysis (1991–2025)
Current Revenue & Growth
As of June 23, 2026, Soluna Holdings, Inc. (SLNH) generated trailing twelve-month (TTM) revenue of $33.2 million, reflecting explosive growth of +58.3% year-over-year. The most recent quarter (Q1 2026) recorded $9.4 million in revenue, up 2.0% sequentially.
Historical Growth Trajectory
SLNH's 5-year compound annual growth rate (CAGR) stands at +118.6%, indicating outstanding long-term growth trajectory. The 3-year CAGR of +1.3% is below the 5-year average, signalling a growth deceleration in recent years. Soluna Holdings, Inc.'s highest annual revenue of $70.0 million was recorded in 1992.
Revenue by Segment
SLNH's revenue is primarily driven by Data Center Hosting (59%), and Cryptocurrency Mining (41%). With over half of revenue concentrated in Data Center Hosting, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Technology sector peers — including MARA, RIOT, and CLSK (+37.7% YoY) — SLNH has outperformed the peer group in revenue growth. Compare SLNH vs MARA →
SLNH Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| SLNHCurrent | $33M | +58.3% | +118.6% | -113.3% | |
 MARA | $907M | - | - | -90.6% | |
 RIOT | $647M | - | - | -61.8% | |
 CLSK | $766M | +37.7% | +138.0% | 41.6% | |
 IREN | $501M | - | - | 3.5% | |
 HUT | $15M | - | - | -2104.6% |
SLNH Historical Revenue Data (1991–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $29.7M | -21.8% | $6.5M | 21.7% | $-33,669,000 | -113.3% |
| 2024 | $38.0M | +80.5% | $22.9M | 60.3% | $-47,523,000 | -125.0% |
| 2023 | $21.1M | -26.2% | $15.5M | 73.4% | $-20,241,000 | -96.1% |
| 2022 | $28.5M | +99.0% | $25.0M | 87.5% | $-84,790,000 | -297.0% |
| 2021 | $14.3M | +2310.9% | $6.3M | 43.7% | $-4,476,000 | -31.2% |
| 2020 | $595K | -90.9% | $190K | 31.9% | $-1,642,000 | -276.0% |
| 2019 | $6.6M | -18.5% | $4.4M | 66.4% | $259K | 3.9% |
| 2018 | $8.1M | +14.2% | $5.7M | 71.1% | $1.5M | 18.9% |
| 2017 | $7.1M | +0.1% | $4.8M | 68.4% | $588K | 8.3% |
| 2016 | $7.1M | +11.5% | $4.3M | 61.4% | $-361,000 | -5.1% |
| 2015 | $6.3M | -27.9% | $3.9M | 60.9% | $-1,470,000 | -23.2% |
| 2014 | $8.8M | +5.1% | $5.5M | 62.6% | $565K | 6.4% |
| 2013 | $8.4M | +41.6% | $5.1M | 61.0% | $361K | 4.3% |
| 2012 | $5.9M | -42.7% | $2.9M | 49.7% | $-2,244,000 | -38.0% |
| 2011 | $10.3M | +22.3% | $6.5M | 63.3% | $52K | 0.5% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
35+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
SLNH — Frequently Asked Questions
Quick answers to the most common questions about buying SLNH stock.
Is SLNH's revenue growth accelerating or slowing?
SLNH revenue growth is accelerating. TTM revenue reached $33M, up +58.3% year-over-year — ahead of the 5-year CAGR of +118.6%. This indicates the business is expanding faster than its historical baseline.
What is SLNH's revenue history from 1991 to 2026?
Soluna Holdings, Inc. (SLNH) revenue history spans 1991 to 2026. TTM revenue as of 2026 is $33M, growing at +58.3% YoY. The 5-year CAGR is +118.6%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is SLNH's long-term revenue growth rate (CAGR)?
Soluna Holdings, Inc.'s 5-year revenue CAGR of +118.6% reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +58.3% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for SLNH.
Why does SLNH's quarterly revenue fluctuate?
SLNH quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Soluna Holdings, Inc.'s revenue data from 1991 to 2026 shows full historical quarterly detail on this page.
How is SLNH's revenue distributed by segment?
SLNH reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does SLNH's revenue compare to industry peers?
Soluna Holdings, Inc. (SLNH) with TTM revenue of $33M and +58.3% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.