Marchex vs Soluna Holdings
Marchex is the larger business, with $45.4m of revenue in fiscal 2025 against $29.7m for Soluna Holdings (1.5 times as much). Marchex grew faster (-5.6% against -21.8%). Marchex kept more of each dollar of sales as profit: a net margin of -11.5% against -179.7%. Marchex carries less debt relative to equity (0.0% against 50.0%).
| Latest fiscal year | MarchexMCHX, 2025 | Soluna HoldingsSLNH, 2025 |
|---|---|---|
| Revenue | $45.4m | $29.7m |
| Revenue growth | -5.6% | -21.8% |
| Net income | −$5.2m | −$53.4m |
| Operating margin | -12.6% | -113.3% |
| Net margin | -11.5% | -179.7% |
| Return on equity | -16.7% | — |
| Free cash flow | −$1.4m | −$37.2m |
| Cash | $9.9m | — |
| Total debt | $0 | $26.8m |
| Debt to equity | 0.0% | 50.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $75,000 |
| Employees | 139 | — |
| Market value | $57.9m | $125m |
| Price vs our value range | — | — |
| Moat score | 54 (Moderate) | 12 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 5 buys, 40 sales |