Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 96

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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 for historical periods are presented in the table
below:

    (Dollars in thousands) 
    Three Months Ended  June 30,  
    Six Months Ended  June 30, 

    2025  
    2024  
    2025  
    2024 

    Net loss 
    $(7,780) 
    $(9,145) 
    $(15,134) 
    $(11,689)
  
    Interest expense 
     1,196  
     449  
     2,034  
     873 
  
    Income tax benefit 
     (608) 
     (649) 
     (1,033) 
     (1,197)
  
    Depreciation and amortization 
     3,989  
     3,909  
     7,868  
     7,834 
  
    EBITDA 
     (3,203) 
     (5,436) 
     (6,265) 
     (4,179)

    Adjustments: Non-cash items 

    Stock-based compensation costs 
     1,942  
     1,368  
     3,789  
     2,029 
  
    Loss on sale of fixed assets 
     22  
     21  
     22  
     21 
  
    Provision for credit losses 
     -  
     244  
     -  
     244 
  
    Impairment on fixed assets 
     12  
     -  
     12  
     130 
  
    Fair value adjustment on SEPA draws 
     -  
     -  
     118  
     - 
  
    Loss (gain) on debt extinguishment and revaluation, net 
     -  
     5,600  
     (551) 
     8,698 
  
    Adjusted EBITDA 
    $(1,227) 
    $1,797  
    $(2,875) 
    $6,943 

Adjusted
EBITDA decreased for the three and six months ended June 30, 2025 compared to June 20, 2024 primarily driven by a decrease in revenue
of $3.4 million and $9.7 million decline in