SLAI

MKT CAP:$14M

SOLAI Limited

Market Cap

$14M

Technology·Information Technology Services·🇺🇸 United States·NYSE

Technology·IT Services·🇺🇸·NYSE

Stock Price

$0.88+$0.23 (+35.29%)

Apr 20, 2026

Company Details

Solai Ltd. is a technology-driven crypto currency infrastructure company. It is based on ecosystem spanning AI, stablecoins and payment infrastructure, and Solanatreasury and staking operations-supporting use cases across institutional sett...

CEO

Xianfeng Yang

IPO Date

Oct 17, 2025

Website

www.solai.com

Key Metrics TTM

Revenue

$23M

-86.6% YoY

Net Income

-$21M

EPS (Diluted)

-$2.42

Free Cash Flow

-$17M

Revenue / Share

$1.25

Gross Margin

-38.4%

Operating Margin

-287.6%

Net Margin

-89.9%

FCF Margin

-73.9%

P/S

0.6x

P/E

—

Earnings Reports

Q3 2025

Nov 21, 2025

$4M-36.7%EPS -$0.96

Q2 2025

Sep 26, 2025

$6M-43.9%EPS -$0.52

Q1 2025

Mar 31, 2025

$6M-42.8%EPS -$0.53

Q3 2024

Sep 30, 2024

$7M-91.0%EPS -$0.41

Q2 2024

Sep 27, 2024

$10M-86.1%EPS $0.00

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 19	$1M	-$129.9K	-$2M
Q4 19	$659.7K	-$779.7K	-$11M
Q1 20	$63.0K	-$18.9K	-$755.8K
Q2 20	$75.2K	-$19.9K	-$1M
Q1 21	$3M	$2M	-$2M
Q2 21	$395M	$9M	$232.1K
Q3 21	$393M	-$12M	-$35M
Q4 22	$61M	-$2M	-$107M
Q2 23	$74M	$1M	-$2M
Q3 23	$77M	$1M	-$4M
Q1 24	$10M	$2M	-$268.5K
Q2 24	$10M	$2M	-$270.2K
Q3 24	$7M	-$713.2K	-$4M
Q1 25	$6M	-$3M	-$7M
Q2 25	$6M	-$3M	-$7M
Q3 25	$4M	-$3M	-$48M

Valuation

Quarter	P/S	P/E
Q3 19	52.4x	—
Q4 19	67.6x	—
Q1 20	47.2x	—
Q2 20	72.1x	—
Q1 21	254.3x	—
Q2 21	1.2x	—
Q3 21	1.0x	—
Q4 22	0.0x	—
Q2 23	0.0x	—
Q3 23	0.1x	—
Q1 24	0.1x	—
Q2 24	0.2x	2.5x
Q3 24	0.3x	2.4x
Q1 25	0.6x	2.3x
Q2 25	0.9x	—
Q3 25	1.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 19	$0	$0
Q3 19	$0	$0
Q4 19	-$192M	-$183M
Q1 20	$0	$0
Q2 20	$0	$0
Q1 21	$0	$0
Q2 21	$0	$0
Q3 21	$0	$0
Q4 22	-$34M	-$34M
Q2 23	$0	$0
Q3 23	$0	$0
Q1 24	-$6M	-$6M
Q2 24	-$6M	-$6M
Q3 24	-$10M	-$11M
Q1 25	$0	$0
Q2 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q2 19	$0
Q3 19	$0
Q4 19	$10M
Q1 20	$0
Q2 20	$0
Q1 21	$0
Q2 21	$0
Q3 21	$0
Q4 22	$0
Q2 23	$0
Q3 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$587.5K
Q1 25	$0
Q2 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 19	-67.1%	-81.8%
Q4 19	-83.4%	-30.2%
Q1 20	-96.3%	-94.9%
Q2 20	-95.4%	-91.6%
Q1 21	+99.7%	+55.1%
Q2 21	+59743.8%	+3311.8%
Q3 21	+624207.1%	+52187.3%
Q4 22	+81108.0%	+14507.7%
Q2 23	+2458.3%	+1305.6%
Q3 23	-80.5%	-79.5%
Q1 24	-97.4%	-97.6%
Q2 24	-83.2%	-93.7%
Q3 24	-90.6%	-85.8%
Q1 25	-92.4%	-83.6%
Q2 25	-43.6%	+24.4%
Q3 25	-57.2%	+393.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 19	$3M	180.9%
Q3 19	$2M	146.5%
Q4 19	$2M	330.5%
Q1 20	$720.5K	1144.3%
Q2 20	$385.7K	513.1%
Q1 21	$32.4K	1.1%
Q2 21	-$150.0K	-0.0%
Q3 21	$3M	0.8%
Q4 22	$6M	10.6%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q1 24	$497.5K	4.9%
Q2 24	$497.5K	4.8%
Q3 24	$109.5K	1.6%
Q1 25	$425.5K	7.3%
Q2 25	$425.5K	7.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 19	$2M	$1M	$184.2K
Q4 19	$2M	$1M	$190.7K
Q1 20	$1M	$760.8K	$62.5K
Q2 20	$1M	$936.4K	$103.0K
Q1 21	$401.7K	$563.7K	$55.3K
Q2 21	$2M	$1M	$78.2K
Q3 21	$7M	$9M	$226.0K
Q4 22	$682.0K	$6M	$120.0K
Q2 23	$328.0K	$5M	$131.0K
Q3 23	$810.4K	$4M	$115.0K
Q1 24	$36.4K	$4M	$11.6K
Q2 24	$36.6K	$4M	$11.7K
Q3 24	—	$4M	$16.4K
Q1 25	—	$4M	$17.0K
Q2 25	—	$4M	$16.7K
Q3 25	—	$4M	$15.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$18M	$0	$18M
Q1 22	$21M	$0	$21M
Q2 22	$23M	$0	$23M
Q3 22	$13M	$7M	$20M
Q4 22	$5M	$2M	$8M
Q1 23	$5M	$2M	$7M
Q2 23	$34M	$107M	$141M
Q3 23	$19M	$0	$19M
Q4 23	$23M	$0	$23M
Q1 24	$2M	$0	$2M
Q2 24	$2M	$0	$2M
Q3 24	$2M	$0	$2M
Q4 24	$2M	$0	$2M
Q1 25	$1M	$0	$1M
Q2 25	$1M	$0	$1M
Q3 25	$4M	$0	$4M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 19	4M	+0.3%	+1.6%
Q4 19	4M	+0.0%	+1.2%
Q1 20	4M	+0.0%	+1.0%
Q2 20	4M	+0.0%	+0.3%
Q1 21	5M	+15.9%	+16.0%
Q2 21	6M	+11.0%	+28.7%
Q3 21	7M	+25.1%	+61.0%
Q4 22	10M	+40.5%	+126.3%
Q2 23	11M	+14.8%	+124.1%
Q3 23	11M	-0.5%	+100.8%
Q1 24	11M	+0.7%	+61.7%
Q2 24	11M	0.0%	+15.0%
Q3 24	12M	+9.3%	+9.5%
Q1 25	16M	+30.9%	+44.1%
Q2 25	16M	0.0%	+43.1%
Q3 25	18M	+14.6%	+64.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 19	$13.4K	108
Q4 19	$8.9K	74
Q1 20	$851	74
Q2 20	$1.0K	74
Q1 21	$47.5K	61
Q2 21	$6M	61
Q3 21	$6M	61
Q4 22	$824.9K	74
Q2 23	$1M	74
Q3 23	$1M	74
Q1 24	$136.2K	75
Q2 24	$137.0K	75
Q3 24	$92.7K	75
Q1 25	$104.3K	56
Q2 25	$102.9K	56
Q3 25	$78.6K	56

Revenue / Employee