Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1393

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1393
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     40,741  
    $(13,798) 
    $39,841  
    $27,362 

The
accompanying notes are an integral part of these consolidated financial statements.

 F-5 

Soluna
Holdings, Inc. and Subsidiaries

Consolidated
Statements of Cash Flows

For
the Year Ended December 31, 2024 and 2023

(Dollars
in thousands)

    (Dollars in thousands) 
    2024  
    2023 

    Year Ended December 31, 
  
    (Dollars in thousands) 
    2024  
    2023 
  
    Operating Activities 

    Net loss 
    $(58,300) 
    $(27,703)

    Adjustments to reconcile net loss to net cash used in operating activities: 

    Depreciation expense 
     6,152  
     3,894 
  
    Amortization expense 
     9,488  
     9,483 
  
    Stock-based compensation 
     5,311  
     4,312 
  
    Deferred income taxes 
     (2,522) 
     (1,107)
  
    Impairment on fixed assets 
     130  
     575 
  
    Provision for credit losses 
     760  
     - 
  
    Amortization of operating lease asset 
     133  
     238 
  
    Debt issuance costs 
     2,011  
     - 
  
    Loss on debt extinguishment and revaluation, net 
     7,349  
     3,904 
  
    Loss on contract 
     28,593  
     - 
  
    Amortization on deferred financing costs and discount on notes 
     351  
     753 
  
    Loss on sale of fixed assets 
     31  
     398 
  
    Conversion inducement expense 
     388  
     - 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     (505) 
     (2,620)
  
    Prepaid expenses and other current assets 
     (3,296) 
     (306)
  
    Other long-term assets 
     (4,842) 
     (304)