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Solana vs Nakamoto: revenue, profit, margins and growth compared

Solana brought in $6M of revenue in fiscal 2025, Nakamoto $1.8M in fiscal 2025. Revenue changed by +1,057.1% at Solana and -33.0% at Nakamoto on the year before, so Solana grew faster. Solana kept -679.6% of its revenue as net profit, Nakamoto -2,867.6%.

Side by side, latest fiscal year

HSDTNAKA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$6M$1.8M
Revenue growth+1,057.1%-33.0%
Net income-$40.9M-$52.2M
Net margin-679.6%-2,867.6%
Free cash flown/an/a
Free cash flow marginn/an/a
Earnings per share (diluted)-$1.85-$0.26
Cash$7.3M$21.1M
Debtn/an/a
Price to earningsn/an/a
Market value$175.3M$173.9M
Dividend yieldn/an/a
Rank by revenue in sector#555 of 742 · Health care#615 of 742 · Health care

Over the years

Revenue
HSDT FY2018: $478KHSDT FY2019: $1.5MHSDT FY2020: $661KHSDT FY2021: $522KHSDT FY2022: $787KHSDT FY2023: $644KHSDT FY2024: $520KHSDT FY2025: $6MNAKA FY2024: $3.8MNAKA FY2024: $2.7MNAKA FY2025: $1.8MFY18FY19FY20FY21FY22FY23FY24FY25
HSDT $6MNAKA $1.8M
Net income
HSDT FY2018: -$28.6MHSDT FY2019: -$9.8MHSDT FY2020: -$14.1MHSDT FY2021: -$18.1MHSDT FY2022: -$14.1MHSDT FY2023: -$8.9MHSDT FY2024: -$11.7MHSDT FY2025: -$40.9MNAKA FY2024: -$1.6MNAKA FY2024: -$3.6MNAKA FY2025: -$52.2MFY18FY19FY20FY21FY22FY23FY24FY25
HSDT -$40.9MNAKA -$52.2M
Net margin
HSDT FY2018: -5,988.1%HSDT FY2019: -653.8%HSDT FY2020: -2,137.7%HSDT FY2021: -3,473.6%HSDT FY2022: -1,788.1%HSDT FY2023: -1,374.2%HSDT FY2024: -2,258.1%HSDT FY2025: -679.6%NAKA FY2024: -42.9%NAKA FY2024: -133.0%NAKA FY2025: -2,867.6%FY18FY19FY20FY21FY22FY23FY24FY25
HSDT -679.6%NAKA -2,867.6%
Revenue growth
HSDT FY2019: +213.0%HSDT FY2020: -55.8%HSDT FY2021: -21.0%HSDT FY2022: +50.8%HSDT FY2023: -18.2%HSDT FY2024: -19.3%HSDT FY2025: +1,057.1%NAKA FY2024: -27.8%NAKA FY2025: -33.0%FY19FY20FY21FY22FY23FY24FY25
HSDT +1,057.1%NAKA -33.0%
Free cash flow
HSDT FY2018: -$20.1MHSDT FY2019: -$21.3MHSDT FY2020: -$11.8MHSDT FY2021: -$13.4MHSDT FY2022: -$14.3MHSDT FY2023: -$10.4MHSDT FY2024: -$11MNAKA FY2024: -$463.9KNAKA FY2024: -$3.1MFY18FY19FY20FY21FY22FY23FY24
HSDT -$11MNAKA -$3.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Solana and Nakamoto

Which is bigger by revenue, Solana or Nakamoto?

Solana is bigger by revenue: $6M in fiscal 2025, against $1.8M for Nakamoto in fiscal 2025.

Which keeps more of its revenue as profit, Solana or Nakamoto?

Solana had a net margin of -679.6% in fiscal 2025; Nakamoto had -2,867.6% in fiscal 2025.

Which grew revenue faster, Solana or Nakamoto?

In their latest fiscal years revenue changed by +1,057.1% at Solana and -33.0% at Nakamoto.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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