Financial Services · Asset Management
Price
$1.12
Market Cap
$28.6M
Employees
3
Beta
1.52
Avg Volume
247,800
CEO
Michael Hubbard
Business Description
Sol Strategies Inc. is a company dedicated to building and investing in the core infrastructure that supports the Solana Blockchain ecosystem. The firm manages and operates Validator nodes on several Proof of Stake (PoS) blockchain networks, with a primary focus on Solana and SUI. Through these nodes, the company plays a vital role in validating network transactions and proposing new blocks. Furthermore, Sol Strategies facilitates cryptocurrency staking and offers opportunities for users to delegate their tokens to Validators, thereby earning passive rewards. Originally incorporated in 2002, the company was formerly named Cypherpunk Holdings Inc. before rebranding as Sol Strategies Inc. in September 2024. Its operations are based out of Toronto, Canada.
Business History
Price Overview
Last updated: Jun 27, 2026 9:05am (just now)$1.12
+0.15 (+15.16%)
Day Range
$0.96 – $1.20
52-Week Range
$0.85 – $15.60
50-Day MA
$1.44
200-Day MA
$2.26
Volume
200,822.00
Share Structure
Outstanding
25,523,879.00
Float
18,901,630.00
Free Float
74.1%
Normal free float
— 74.1% of shares trade freely, ~25.9% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.64
Stock Price: $1.12
EPS (Diluted): -1.74
EPS (Diluted): -1.74
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.06
Stock Price: $1.12
Total Equity: $114.78M
Shares: 20,092,474
Total Equity: $114.78M
Shares: 20,092,474
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-0.82
Market Cap: $28.59M
Total Debt: $51.91M
Cash: $1.79M
EBITDA: -$31.38M
Total Debt: $51.91M
Cash: $1.79M
EBITDA: -$31.38M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$171.5M
Market Cap: $28.59M
Total Debt: $51.91M
Cash: $1.79M
Total Debt: $51.91M
Cash: $1.79M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.00
Stock Price: $1.12
Revenue: $0.00
Shares: 20,092,474
Revenue: $0.00
Shares: 20,092,474
EV/Sales (Total value vs revenue — works when P/E can't)
API0.00
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
0.0%
Gross Profit: -$3.20M
Revenue: $0.00
Revenue: $0.00
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
0.0%
Operating Income: -$44.81M
Revenue: $0.00
Revenue: $0.00
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
0.0%
Net Income: -$35.04M
Revenue: $0.00
Revenue: $0.00
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-160.2%
Net Income: -$35.04M
Total Equity: $114.78M
Total Equity: $114.78M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-110.8%
Operating Income: -$44.81M
Tax Rate: 21.8%
Equity: $114.78M
Total Debt: $51.91M
Cash: $1.79M
Tax Rate: 21.8%
Equity: $114.78M
Total Debt: $51.91M
Cash: $1.79M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.11
Current Assets: $3.55M
Current Liabilities: $32.96M
Current Liabilities: $32.96M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.45
Short-Term Debt: $30.64M
Long-Term Debt: $21.27M
Total Debt: $51.91M
Total Equity: $114.78M
Long-Term Debt: $21.27M
Total Debt: $51.91M
Total Equity: $114.78M
Rev/Share (Top-line per share)
Revenue / Shares Outstanding
—
Revenue: $0.00
Shares: 20,092,474
Shares: 20,092,474
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$5.71
Total Equity: $114.78M
Shares: 20,092,474
Shares: 20,092,474
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.93
Operating CF: -$11.00M
CapEx: -$7.75M
Shares: 20,092,474
CapEx: -$7.75M
Shares: 20,092,474
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.12
Stock Price: $1.12
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$35.04M
Net Income: -$35.04M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares STKE against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 12:43pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Cost of Revenue | $0 | $0 | $0 | $0 | $3.2M |
| Gross Profit | $0 | $0 | $0 | $0 | -$3.2M |
| Operating Expenses | $2.4M | $-793,197 | $6.3M | -$8.2M | $41.6M |
| Operating Income | -$2.4M | $793,197 | -$6.3M | $8.2M | -$44.8M |
| Net Income | -$1.2M | $358,456 | -$6.3M | $6.6M | -$35.0M |
| EBITDA | -$1.8M | -$3.7M | -$6.6M | $8.0M | -$31.4M |
| EPS | $-0.07 | $0.02 | $-0.32 | $0.32 | $-1.74 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 22, 2026 12:43pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $876,757 | $18.5M | $1.9M | $1.8M | $1.8M |
| Total Current Assets | $1.4M | $18.7M | $2.0M | $1.8M | $3.6M |
| Total Assets | $31.2M | $23.9M | $17.1M | $28.9M | $169.6M |
| Current Liabilities | $1.5M | $308,292 | $226,476 | $1.8M | $33.0M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $21.3M |
| Total Liabilities | $3.4M | $308,292 | $226,476 | $2.2M | $54.8M |
| Total Equity | $27.8M | $23.6M | $16.8M | $26.7M | $114.8M |
| Retained Earnings | -$14.4M | -$12.2M | -$18.5M | -$10.4M | -$47.1M |
Cash Flow (Annual)
Last updated: Jun 22, 2026 12:43pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$1.6M | $211 | -$1.1M | $-856,729 | -$11.0M |
| Capital Expenditure | $-938,581 | -$1.8M | -$8.1M | $0 | -$7.8M |
| Free Cash Flow | -$2.6M | -$1.8M | -$1.1M | $-856,729 | -$18.8M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $-707,765 | $-938,924 | $0 |
| Net Change in Cash | $391,378 | $17.7M | -$16.6M | $-119,228 | $-22,649 |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 12:56am (8h ago)| Metric | 2025 | 2026 | 2027 |
|---|---|---|---|
| Revenue |
$10.7M $10.7M – $10.7M
|
-$10.9M -$10.9M – -$10.9M
|
$6.3M $6.3M – $6.3M
|
| EBITDA | $0 | $0 | $0 |
| Net Income |
-$10.1M -$10.1M – -$10.1M
|
-$43.5M -$43.5M – -$43.5M
|
-$5.5M -$5.5M – -$5.5M
|
| EPS | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 22, 2026 12:43pm (4d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | — | — | — | — |
| Gross Profit Growth | — | — | — | — |
| Operating Income Growth | +133.6% | -895.4% | +229.8% | -647.0% |
| Net Income Growth | +130.5% | -1,852.6% | +205.2% | -630.2% |
| EBITDA Growth | -111.0% | -78.1% | +221.0% | -493.8% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for STKE — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30