Solana Co
solanacompany.coWhat Do They Do?
Acquires and holds Solana tokens, and stakes them to earn rewards, while also selling a neurological stimulation device and therapy to patients and clinics.
10-K for FY2025, filed Mar 31, 2026We are a listed digital asset treasury (“DAT”) dedicated to acquiring and holding Solana tokens (“SOL”). Solana Company’s DAT objective is…View ↗
We are, to a lesser extent, also a neurotechnology company focused on neurological wellness.View ↗
A substantial portion of our SOL treasury is staked. Through staking, we participate in SOL’s proof-of-stake system as a delegator and earn…View ↗
Following our adoption of our digital asset treasury strategy in September 2025, we continue to operate, to a lesser extent, our…View ↗
How Do They Make Money?
The company earns staking rewards by making its Solana tokens available to validators over time. It also sells its medical device directly to patients, through a U.S. e-commerce partner, and to clinics in Canada; those sales are paid at a point in time, and some U.S. customers prepay before shipment.
10-K for FY2025, filed Mar 31, 2026The staking arrangements represent contracts with customers within the scope of ASC 606, Revenue from Contracts with Customers. Under these…View ↗
In applying ASC 606, the Company evaluates the arrangement by identifying the contract and its term, identifying the performance…View ↗
The Company generates all of its product sales revenue from product sales directly to patients, its e-commerce partner in the United States…View ↗
The Company requires some customers in the United States to prepay the full product selling price, net of cash discount, prior to shipment.…View ↗
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10-K for FY2025, filed Mar 31, 2026
FY2025 revenue by product or service (Revenue from Contract with Customer, Excluding Assessed Tax) ↗
$6M
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10-K for FY2025, filed Mar 31, 2026
$6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product
Sold outright
10-K for FY2025, filed Mar 31, 2026 |
77% |
Product, FY2025
$420K Sources
|
Sold outright |
|
Other revenue
Recurring
|
23% |
Other revenue, FY2025
$128K Sources
|
Recurring |
Who Are Their Customers?
PoNS devices are sold directly to patients, through a U.S. e-commerce partner, and to clinics in Canada.
10-K for FY2025, filed Mar 31, 2026The Company generates all of its product sales revenue from product sales directly to patients, its e-commerce partner in the United States…View ↗
Do Revenues Turn Into Profits?
No. It lost $40.9M in FY2025.
10-K for FY2025, filed Mar 31, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 14, 2026
−$30.3MView ↗
- ▲ +208% (Loss)
- vs −$9.8M in Q2 FY2025
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Aug 14, 2026
Divested the legacy PoNS medical device business
The company completed the sale of its legacy medical device business.
Sources
8-K, filed Aug 14, 2026
During the second quarter, the Company generated $2.5 million in revenue and achieved strategic milestones, including building out its…View ↗
Growing. Revenue grew 11.5x in 4 years, from $522K in FY2021 to $6M in FY2025, about 84% a year.
From neurotechnology to Solana treasury
The earlier report describes a neurotechnology company focused on developing, licensing or acquiring non-implantable treatments. The latest report makes acquiring and holding Solana tokens the principal strategic focus, while retaining the medical device business to a lesser extent.
10-K for FY2022, filed Mar 9, 2023 10-K for FY2025, filed Mar 31, 2026We are a neurotechnology company focused on neurological wellness. Our purpose is to develop, license or acquire non-implantable…View ↗
We are a listed digital asset treasury (“DAT”) dedicated to acquiring and holding Solana tokens (“SOL”). Solana Company’s DAT objective is…View ↗
In September 2025, we adopted a digital asset treasury strategy centered on acquiring SOL and began repositioning a substantial portion of…View ↗
Following our adoption of our digital asset treasury strategy in September 2025, we continue to operate, to a lesser extent, our…View ↗
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