Overview
Solana Q3 net loss of $352.8 mln
Company reported a significant unrealized loss on digital assets
Solana approved a stock repurchase program for up to $100 mln
Outlook
Company did not provide specific guidance for future quarters in its press release
Result Drivers
DIGITAL ASSET STRATEGY - Partnership with Pantera and Summer Capital secured over $500 mln to support digital asset treasury strategy
FINANCIAL POSITION - Launched ATM program and issued cash-exercise warrants to enhance financial flexibility
An unrealized loss on digital assets of $30.5 million resulted from the net change in fair value of digital assets held by the Company as of quarter end
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income | -$352.8 mln | ||
Q3 Operating Expenses | $36 mln | ||
Q3 Operating Income | -$35.5 mln |
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the investment management & fund operators peer group is "buy."
Press Release: ID:nGNX8qbK42
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)