Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 0

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Soluna
Holdings, Inc. and Subsidiaries

Condensed
Consolidated Balance Sheets

As of
March 31, 2025 (Unaudited) and December 31, 2024

    (Dollars in thousands, except per share) 
    March 31, 2025  
    December 31, 2024 
  
    Assets 

    Current Assets: 

    Cash 
    $9,161  
    $7,843 
  
    Restricted cash 
     2,227  
     1,150 
  
    Accounts receivable, net (allowance for expected credit losses of $244 at March 31, 2025 and December 31, 2024) 
     2,364  
     2,693 
  
    Prepaid expenses and other current assets 
     1,978  
     1,781 
  
    Equipment held for sale 
     28  
     28 
  
    Total Current Assets 
     15,758  
     13,495 
  
    Restricted cash, noncurrent 
     3,060  
     1,460 
  
    Other assets 
     1,124  
     2,724 
  
    Deposits and credits on equipment 
     4,932  
     5,145 
  
    Property, plant and equipment, net 
     49,585  
     47,283 
  
    Intangible assets, net 
     15,292  
     17,620 
  
    Operating lease right-of-use assets 
     298  
     313 
  
    Total Assets 
    $90,049  
    $88,040 

    Liabilities and Stockholders’ Equity 

    Current Liabilities: 

    Accounts payable 
    $3,321  
    $2,840 
  
    Accrued liabilities 
     6,482  
     6,785 
  
    Accrued interest payable 
     2,674  
     2,275 
  
    Contract liability 
     19,348  
     20,015 
  
    Current portion of debt 
     13,848  
     14,444 
  
    Income tax payable 
     49  
     37 
  
    Customer deposits 
     1,776