SOL Strategies (NASDAQ: STKE) reported full-year financial results for the fiscal year ended September 30, 2025, posting revenue of CAD$14.5 million, a 36.7% increase year over year, driven primarily by the expansion of its staking and validator operations within the Solana ecosystem.
As of September 30, 2025, SOL Strategies held 435,159 SOL valued at approximately CAD$126.4 million, a significant increase from 100,763 SOL worth about CAD$20.8 million a year earlier.
The substantial growth in digital asset holdings reflects the company’s strategy of accumulating SOL while generating yield through network participation.
Revenue composition shifted meaningfully during the year.
Validator rewards contributed CAD$5.4 million, compared with no such revenue in fiscal 2024, while staking rewards rose sharply to CAD$4.8 million from CAD$0.3 million in the prior year.
These gains underscore the company’s deeper operational integration into Solana’s infrastructure.
Despite higher revenue, adjusted EBITDA declined to approximately CAD$4.2 million, down from CAD$9.5 million in fiscal 2024, reflecting increased operating costs associated with scaling validator operations and broader platform investments.