SOL Strategies Inc. is a US-listed company in the asset management & custody banks industry. Its financial year ends in September.
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Funds14 adding, 14 cuttingOf 2 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
SOL Strategies Inc.'s trailing-twelve-month revenue grew 32.8% year on year, with a free-cash-flow margin of -75.7%.
Current signal Balance sheet growing far ahead of sales: Total assets grew 469% year over year while revenue grew 33% — the balance sheet is expanding 436 points faster than the business it supports.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Fast growth. Revenue grew 32.8% over the last 12 months.
- Net cash. Cash exceeds long-term debt by $0.0bn.
Things to watch
- Burning cash. Free cash flow was -75.7% of revenue over the last 12 months.
- Heavy stock-based pay. Stock pay equals 54.0% of revenue: a real cost that cash-flow figures leave out.
- Share dilution. Diluted shares rose 7.2% in a year.
Latest results
- Earnings per share
- -$0.14 against an average estimate of -$0.11: missed by 34.1%
Price chart
- 1 day+1.7%
- 1 week-5.6%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $10.4M
- Net margin
- -240.6%
- EPS (TTM, diluted)
- $-1.25
Growth
- Revenue growth
- +32.8%
- Share count change
- +7.2%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for STKE from the sources we follow. See filings →
No model value for SOL Strategies Inc. at the moment. Current status: limited reported history: available models are shown without a Buy/Hold/Sell rating. Available reported financials are shown below.
The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.
Valuation models
We value SOL Strategies Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | ~$6.2 ~$6.6–$17 | Left out: out of range vs price (5.35x) |
| Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. | — | Does not apply: This model is withheld pending its input or assumption review. |
| Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. | — | Combined value withheld. Review the individual models and their assumptions. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare SOL Strategies Inc. with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Analysts' consensus
No analyst estimates are published for SOL Strategies Inc.: too few analysts cover it.
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.11 | −$0.14 | −34.1% |
| Mar 2026 | −$0.15 | −$0.42 | −177.7% |
| Dec 2025 | −$0.20 | −$0.31 | −55.1% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 0.6% of tradable shares
- Days to cover
- 0.53 at average volume
- Short interest, 1 month
- −5% to October 15, 2026
- Held by institutions
- 4% of shares
- Held by insiders
- 23.6% of shares
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Fundamentals
Financial statements
| Fiscal year | 2024 Sept 2024 | 2025 Sept 2025 |
|---|---|---|
| Income | ||
| Revenue | 8 | 10 |
| Net income | 5 | −25 |
| Diluted EPS | $0.26 | −$1.24 |
| Growth (year on year) | ||
| Revenue | — | +32.8% |
| Net income | — | −616.0% |
| Diluted EPS | — | −583.8% |
| Margins | ||
| Net margin | 61.9% | −240.6% |
| Free-cash-flow margin | — | −75.7% |
| Cash flow | ||
| Cash from operations | −1 | −8 |
| Capital spending | — | 0 |
| Free cash flow | — | −8 |
| Stock-based pay | 1 | 6 |
| Free cash flow after stock pay | — | −14 |
| Balance sheet | ||
| Cash | 1 | 1 |
| Total debt | 0 | 0 |
| Net debt (negative = net cash) | −1 | −1 |
| Diluted shares | 19m | 20m |
Dividends, buybacks and capital spending
- Diluted share count
- +7.2%
- year over year
- Days sales outstanding
- 4 days
- receivables vs revenue
Competitors: side by side with peers
| Last 12 months unless stated | STKE | GROW | DFDV | GEG | NAKA | TONX | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $10m | $14m | $15m | $28m | $28m | $30m | $842m |
| Revenue growth, last 12 months | 32.8% | 32.8% | 328.6% | 70.2% | >999% | 592.3% | 20.6% |
| Revenue growth, 3-year average | — | −1.5% | 94.4% | 3.0% | — | 163.9% | 10.2% |
| Revenue growth, latest quarter | — | 57.9% | 66.9% | 88.3% | >999% | 607.4% | 14.4% |
| Gross margin | — | — | 97.8% | — | — | 83.1% | 80.2% |
| Operating margin | — | −4.2% | −866.5% | −50.4% | <−999% | −115.6% | 25.8% |
| Operating margin, 3-year average | — | −12.0% | −233.9% | −47.8% | −664.9% | <−999% | 18.8% |
| Net margin | −240.6% | 21.2% | <−999% | −127.6% | <−999% | −532.8% | 15.0% |
| Cash from operations / revenue | −75.5% | 5.2% | −198.9% | 56.4% | −169.5% | −94.7% | 26.3% |
| Free-cash-flow margin | −75.7% | 5.2% | −198.9% | 51.8% | −169.5% | −94.8% | 21.3% |
| Free-cash-flow margin, 3-year average | — | 1.5% | −149.5% | −34.8% | −140.9% | <−999% | 17.6% |
| Stock pay / revenue | 54.0% | 0.1% | 20.6% | 8.2% | 20.2% | 78.4% | 4.0% |
| Change in share count | 7.2% | −4.9% | — | 19.8% | 937.0% | >999% | −0.2% |
Who owns it
Funds buying and selling- Reported value
- $1.7M
- Institutions reporting
- 27
- Shares held vs prior quarter
- ▼ 4.0%
- Positions opened / closed
- 9 / 7
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| J. Derek Lewis & Associates Inc. | $446,098 | 381K | 26.8% | ▲ 96.5% |
| Key Client Fiduciary Advisors, LLC | $416,973 | 356K | 25.1% | ▲ 7.8% |
| Mmcap International Inc. Spc | $279,531 | 236K | 16.8% | ▼ 5.5% |
| UBS Group AG | $123,187 | 105K | 7.4% | ▼ 56.6% |
| Lighthouse Investment Partners, LLC | $78,975 | 68K | 4.7% | 0.0% |
| Stonex Group Inc. | $54,705 | 41K | 3.3% | ▲ 26.5% |
| Jane Street Group, LLC | $36,930 | 31K | 2.2% | ▼ 59.4% |
| Pathstone Holdings, LLC | $32,906 | 28K | 2.0% | 0.0% |
| Creative Planning | $26,337 | 23K | 1.6% | 0.0% |
| Bank Of Montreal | $26,004 | 22K | 1.6% | New |
| Susquehanna International Group, LLP | $25,947 | 22K | 1.6% | New |
| Captrust Financial Advisors | $24,564 | 21K | 1.5% | ▼ 5.1% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not SOL Strategies Inc.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chartFrom insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
SOL Strategies Inc. in brief
- What does SOL Strategies Inc. do?
- SOL Strategies Inc. is a US-listed company in the asset management & custody banks industry. Its financial year ends in September.
- What is SOL Strategies Inc.'s stock ticker?
- SOL Strategies Inc. trades under the ticker STKE on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is SOL Strategies Inc.'s revenue, and how fast is it growing?
- Over its most recent trailing twelve months, SOL Strategies Inc. reported revenue of $10.4M, 32.8% higher than a year earlier, according to its SEC filings.
- What is SOL Strategies Inc.'s free cash flow?
- SOL Strategies Inc.'s free-cash-flow margin is -75.7% of revenue over the trailing twelve months.
- Who are SOL Strategies Inc.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are J. Derek Lewis & Associates Inc., Key Client Fiduciary Advisors, LLC and Mmcap International Inc. Spc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Who are SOL Strategies Inc.'s competitors?
- In our Asset Management & Custody Banks peer group, the companies closest to SOL Strategies Inc. are U S Global Investors Inc, Defi Development Corp., Great Elm Group, Inc., Nakamoto Inc. and TON Strategy Co. The side-by-side comparison below sets their revenue, margins and growth against SOL Strategies Inc.'s.
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