Solana Company (HSDT) investor relations material

Executive summary

• Raised over $500 million in September 2025 to fund a Solana-focused digital asset treasury strategy, marking a strategic shift and new beginning for the company.

• Pantera and Summer Capital contributed roughly half of the capital, with Pantera's $120 million investment being its largest ever.

• Implemented two reverse stock splits and rebranded from Helius Medical Technologies to Solana Company.

• Focused on advocacy for Solana, capital markets strategy, and disciplined treasury management, with extensive outreach in Asia.

• Continued commercialization of the PoNS medical device, reporting positive clinical outcomes and FDA submission for stroke therapy label expansion.

Financial highlights

• Third quarter 2025 revenue was $697,000, including $342,000 from first-time staking rewards income.

• Net loss for Q3 2025 was $352.8 million, or $32.89 per share, driven by derivative liability and unrealized loss on digital assets.

• Operating expenses surged to $36.0 million, mainly from a $30.5 million unrealized loss on SOL holdings and a $1.5 million discretionary bonus.

• Cash and digital assets at quarter-end totaled $474.2 million, with $124 million in cash and $350.2 million in SOL at fair value.

• Gross profit for Q3 2025 was $594,000, up from a gross loss of $136,000 in Q3 2024.

Outlook and guidance

• Company aims to maximize Solana per share accumulation, maintain disciplined capital deployment, and transparent reporting.

• Management expects existing resources to fund operations for at least the next twelve months.

• Plans to leverage capital markets tools such as ATM programs and share buybacks, and explore staking, lending, and DeFi opportunities.

• Open to M&A opportunities within the digital asset treasury ecosystem for strategic growth.

• Financial condition is highly dependent on SOL price and liquidity, which are volatile.