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Soluna vs VerifyMe: revenue, profit, margins and growth compared

Soluna brought in $29.7M of revenue in fiscal 2025, VerifyMe $16.4M in fiscal 2025. Revenue changed by -21.8% at Soluna and -32.3% at VerifyMe on the year before, so Soluna grew faster. Soluna kept -179.7% of its revenue as net profit, VerifyMe -29.9%. Free cash flow was -$37.2M at Soluna and $585K at VerifyMe.

Side by side, latest fiscal year

SLNHPVRME
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$29.7M$16.4M
Revenue growth-21.8%-32.3%
Net income-$53.4M-$4.9M
Net margin-179.7%-29.9%
Free cash flow-$37.2M$585K
Free cash flow margin-125.2%3.6%
Earnings per share (diluted)-$2.38-$0.39
Cash$76.4M$4.4M
Debt$17.9Mn/a
Price to earningsn/an/a
Market value$3.1Bn/a
Dividend yieldn/an/a
Rank by revenue in sector#492 of 638 · Technology#526 of 638 · Technology

Over the years

Revenue
SLNHP FY2017: $7.1MSLNHP FY2020: $6.6MSLNHP FY2020: $595KSLNHP FY2021: $14.3MSLNHP FY2022: $28.5MSLNHP FY2023: $21.1MSLNHP FY2024: $38MSLNHP FY2025: $29.7MVRME FY2021: $343KVRME FY2020: $343KVRME FY2021: $867KVRME FY2021: $867KVRME FY2022: $19.6MVRME FY2023: $25.3MVRME FY2024: $24.2MVRME FY2025: $16.4MFY17FY20FY21FY22FY23FY24FY25
SLNHP $29.7MVRME $16.4M
Net income
SLNHP FY2017: $582KSLNHP FY2020: $323KSLNHP FY2020: $1.9MSLNHP FY2021: -$5.3MSLNHP FY2022: -$98.7MSLNHP FY2023: -$29.2MSLNHP FY2024: -$63.3MSLNHP FY2025: -$53.4MVRME FY2021: -$5.9MVRME FY2020: -$5.9MVRME FY2021: $3.6MVRME FY2021: $3.6MVRME FY2022: -$14.4MVRME FY2023: -$3.4MVRME FY2024: -$3.8MVRME FY2025: -$4.9MFY17FY20FY21FY22FY23FY24FY25
SLNHP -$53.4MVRME -$4.9M
Net margin
SLNHP FY2017: 8.2%SLNHP FY2020: 4.9%SLNHP FY2020: 327.1%SLNHP FY2021: -36.7%SLNHP FY2022: -345.8%SLNHP FY2023: -138.6%SLNHP FY2024: -166.6%SLNHP FY2025: -179.7%VRME FY2021: -1,720.7%VRME FY2020: -1,720.7%VRME FY2021: 416.6%VRME FY2021: 416.6%VRME FY2022: -73.5%VRME FY2023: -13.4%VRME FY2024: -15.8%VRME FY2025: -29.9%FY17FY20FY21FY22FY23FY24FY25
SLNHP -179.7%VRME -29.9%
Revenue growth
SLNHP FY2020: -90.9%SLNHP FY2021: +2,310.9%SLNHP FY2022: +99.0%SLNHP FY2023: -26.2%SLNHP FY2024: +80.5%SLNHP FY2025: -21.8%VRME FY2020: 0.0%VRME FY2021: +152.8%VRME FY2021: 0.0%VRME FY2022: +2,157.9%VRME FY2023: +29.3%VRME FY2024: -4.4%VRME FY2025: -32.3%FY20FY21FY22FY23FY24FY25
SLNHP -21.8%VRME -32.3%
Free cash flow
SLNHP FY2017: $256KSLNHP FY2020: $206KSLNHP FY2020: -$2MSLNHP FY2021: -$41.2MSLNHP FY2022: -$69.8MSLNHP FY2023: -$15.7MSLNHP FY2024: -$13.9MSLNHP FY2025: -$37.2MVRME FY2021: -$3.3MVRME FY2023: $217KVRME FY2024: $864KVRME FY2025: $585KFY17FY20FY21FY22FY23FY24FY25
SLNHP -$37.2MVRME $585K

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

Questions about Soluna and VerifyMe

Which is bigger by revenue, Soluna or VerifyMe?

Soluna is bigger by revenue: $29.7M in fiscal 2025, against $16.4M for VerifyMe in fiscal 2025.

Which keeps more of its revenue as profit, Soluna or VerifyMe?

Soluna had a net margin of -179.7% in fiscal 2025; VerifyMe had -29.9% in fiscal 2025.

Which grew revenue faster, Soluna or VerifyMe?

In their latest fiscal years revenue changed by -21.8% at Soluna and -32.3% at VerifyMe.

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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