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SOLLENSYS CORP.

sollensys.com

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2022 10-K, filed Apr 17, 2023. Its latest SEC filing is a REVOKED from Apr 11, 2025.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Sells blockchain-based data security servers and online backup services to businesses, health care providers, government organizations and IT service providers.

How Did They Make Money?

Customers buy Blockchain Archive Servers, with payment tied to delivery; Regional Service Center customers pay a substantial deposit in advance, while the company provides the service over a 60-month contract and earns revenue over that period.

FY2022 revenue

Who Were Their Customers?

Sollensys sells directly to customers, including small-to-medium-sized businesses, health care providers and companies in several industries. Its products are available in the United States and Canada; the Regional Service Center is marketed through IT service providers with established accounts.

Did Revenues Turn Into Profits?

No. It lost $16.8M in FY2022.

Operating income, FY2022
−1354% of revenue
▲ +6% (Loss) vs FY2021 (−$4.4M, −2426%)
Net income, FY2022
−4868% of revenue
▲ +271% (Loss) vs FY2021 (−$4.5M, −2499%)

Who Did They Compete With?

Competes with Symantec, Palo Alto Networks, Sophos, Microsoft, Trend Micro, Sentinel One, Crowdstrike, Carbon Black, Tanium, Cylance, Netskope, Bitglass, IBM, Cisco, Forcepoint, Zscaler, Splunk, Micro Focus, Dell, and LogRhythm

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