Sol Strategies (HODL) Q2 2026 earnings summary

Executive summary

• Strengthened leadership with permanent CEO appointment and new board members, including industry veterans.

• Reported Q2 2026 financial results with a webcast and conference call scheduled for May 18, 2026.

• Focused on staking and validation within the Solana ecosystem, serving over 34,000 unique wallets.

• Launched STKESOL, a liquid staking token on Solana, and expanded integrations with DeFi partners.

• Acquired Zyga zero-knowledge technology via Darklake Labs and signed a definitive agreement to acquire Houdini Swap.

Financial highlights

• As of March 31, 2026: CAD 60.6 million in cryptocurrencies, CAD 22 million in intangible assets, and CAD 350,000 in cash.

• Total staking and validation revenue was 9,171 SOL (CAD $1,147,432), down 6% and 45% respectively from the prior quarter, mainly due to SOL price changes.

• Assets under Delegation rose to 3.8 million SOL (CAD $453 million), up 15% from the previous quarter.

• Reduced liabilities by CAD 9 million through debt repayment.

• Significant non-cash expenses: CAD 77 million, including a CAD 56.5 million revaluation loss on digital assets due to Solana price decline.

Outlook and guidance

• Expectation that Houdini Swap acquisition will add significant revenue and profits, materially changing future financials.

• Anticipate closing Houdini Swap by end of May, with projected annual revenue of CAD 12–13 million and EBITDA of at least CAD 2.5 million.

• Focus on integrating Zyga and Houdini technologies to enhance privacy and cross-chain capabilities.

• Continued cost reduction efforts to approach breakeven on validator business.

• Management to discuss recent milestones and growth outlook during the webcast and conference call.