Soluna Holdings, Inc Earnings Per Share Disclosure
| (Dollars in thousands, except shares) | |||||||||||
| 2025 | 2024 | ||||||||||
| Numerator: | |||||||||||
| Net loss | $ | (56,991) | $ | (58,300) | |||||||
| (Less) Net income (loss) attributable to non-controlling interest | (3,580) | 5,034 | |||||||||
| Net loss attributable to Soluna Holdings, Inc. | (53,411) | (63,334) | |||||||||
| Less: Preferred dividends or deemed dividends | (3,840) | (2,153) | |||||||||
| Less: Cumulative Preferred Dividends in arrears | (11,808) | (10,844) | |||||||||
| Balance | $ | (69,059) | $ | (76,331) | |||||||
| Denominator: | |||||||||||
| Basic and Diluted EPS: | |||||||||||
| Common shares outstanding, beginning of period, including penny warrants and excluding restricted stock awards not vested | 8,106,814 | 2,592,455 | |||||||||
| Weighted average common shares issued during the period including penny warrants issued and outstanding and excluding restricted stock awards not vested as of year-end | 20,942,034 | 2,516,884 | |||||||||
| Denominator for basic and diluted earnings per common shares —weighted average common shares | 29,048,848 | 5,109,339 | |||||||||
| Basic and diluted loss per share | (2.38) | (14.94) | |||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 30, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
| 2023 | Apr 1, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Mar 31, 2022 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.