Solana Company Reports Significant Q3 Revenue Growth Driven by Staking Income, Expands Asia-Pacific Presence

Solana Company reported a substantial increase in its third-quarter revenue for 2026, primarily fueled by staking income, alongside the expansion of its institutional staking services through the launch of its Pacific Backbone infrastructure in the Asia-Pacific region. The company announced Q3 revenue of $3.36 million, marking a 382% year-over-year increase from $697,000 in the same period of the previous year.

According to Solana Company, 99% of its Q3 revenue, totaling $3.337 million, was derived from staking income. The company’s average net staking yield in Q3 stood at 5.9%, surpassing the Solana network’s average of approximately 4.9%. Following the launch of its Pacific Backbone infrastructure, which connects major financial hubs including Hong Kong, Seoul, Tokyo, and Singapore, institutional clients have entrusted Solana Company with staking 1 million SOL. As of the end of Q3, a total of 1.3 million SOL were staked through Pacific Backbone, with 1 million originating from third-party institutional clients.

Strategic Expansion into Asia-Pacific

In addition to its operational performance, Solana Company has established its new headquarters in Hong Kong. This strategic move was further solidified in October when the company was selected as a strategic enterprise by the Hong Kong SAR government. This development occurs against a backdrop of varying regulatory approaches in the region, as evidenced by the People’s Bank of China halting a Solana brand event in Shanghai in November, classifying it as virtual currency marketing.

Financial Performance and Asset Valuation

The company reported a net profit of $105 million for Q3 2026, with earnings per share of $1.21 (diluted $1.17). A significant portion of this net profit was attributed to digital asset unrealized gains, which amounted to $102.72 million in the quarter. As of September 30, 2026, Solana Company held approximately 2.4 million SOL, valued at about $288.2 million, with an estimated SOL price of $120 at the end of the quarter.

Solana Company also completed a $15 million registered direct offering during the quarter, using a portion of the funds to purchase approximately 125,000 SOL. Additionally, the company repurchased approximately $2.8 million of its Class A common stock. The cost of revenue in Q3 was $617,000, resulting in a gross profit of $2.743 million and a gross margin of approximately 82%. General and administrative expenses decreased to $3.386 million in Q3 2026, compared to $5.504 million in the prior year’s third quarter.

Outlook and Uncertainties

The company conducted over 40 institutional education and advisory workshops in the Asia-Pacific region during the quarter, indicating a focused effort to engage with the market. Solana Company also participated in Solana’s first on-chain governance vote. However, uncertainties remain regarding the extent to which third-party staking volume in Q4 will translate into substantial revenue and whether the combined staking and advisory revenue can cover operating expenses. The potential impact of SOL price fluctuations on the company’s valuation and profitability is also a key consideration, as its net profit is significantly influenced by the revaluation of its digital asset holdings.

Why This Matters

The materials describe a narrow update: Solana Company announced its Q3 2026 financial results, reporting a substantial year-over-year revenue increase primarily from staking income. The extent to which third-party staking volume in Q4 will translate into substantial revenue.

Broader Context

Source materials place the factual news in this context: Solana Company ($HSDT) is a US-listed Solana asset treasury company.