Sol Strategies (HODL) Q3 2026 Pre recorded earnings summary

Executive summary

• Expanded business lines to include validator operations, privacy (Houdini Swap), and a corporate treasury, now spanning over 120 blockchains.

• Acquired Houdini Swap, a privacy-focused, cross-chain swap aggregator, marking the first quarter with segmented reporting and a new revenue stream.

• Five acquisitions in under two years have diversified the platform and strengthened technical capabilities.

• Integration of Houdini and Darklake assets is progressing, with a focus on leveraging privacy technology for growth.

• Houdini contributed significant revenue and EBITDA in its first month of consolidation.

Financial highlights

• Digital asset treasury valued at approximately CAD 48 million as of June 30, 2026, with CAD 1.9 million in cash and equivalents.

• Houdini generated $1.2 million in revenue and $768,000 in EBITDA in its first month, with an EBITDA margin over 60%.

• Staking and validation income was $622,299, down from $3,040,282 year-over-year, mainly due to lower Solana prices and reduced staking rewards.

• Assets under Delegation were 3.4 million SOL (CAD $355 million), down 8% year-over-year.

• For the June quarter, over 80% of CAD 15.4 million in operating expenses were non-cash items.

Outlook and guidance

• September quarter expected to be promising, with seamless integration of Houdini and a strong team in place.

• Management expects the Houdini business to drive strong performance in coming quarters, citing its high margin and revenue potential.

• Aggressive growth planned through expanding wallet integrations, new sales channels, and leveraging Zyga privacy technology.

• M&A pipeline remains active, with a disciplined approach to ensure strategic and cultural fit.