Flagship explainer

How SOLANA COMPANY makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$548000 · 100%Cost of revenue$500000 · 91%Gross profit$5.5M · 1007%Operating income−$244M · −44496%Income before tax−$40.9M · −7462%Income tax$0 · 0%Net income−$40.9M · −7462%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$548000100%
Cost of revenue$50000091%
$5.5M1007%
−$244M−44496%
Income before tax−$40.9M−7462%
Income tax$00%
−$40.9M−7462%
Source: · event Dec 31, 2025 · retrieved Sep 4, 2026 · annual-row source set
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