Sol Strategies Inc. Common Shares

STKE

Asset Management · Financial Services

Price

$1.06

-0.02 (-1.85%)

Market Cap

$27.1M

Exchange

NASDAQ Global Select

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Jul 25, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+19.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 16.8M (2021) → 20.1M (2025)

Sol Strategies Inc. is a company dedicated to building and investing in the core infrastructure that supports the Solana Blockchain ecosystem. The firm manages and operates Validator nodes on several Proof of Stake (PoS) blockchain networks, with a primary focus on Solana and SUI. Through these nodes, the company plays a vital role in validating network transactions and proposing new blocks. Furthermore, Sol Strategies facilitates cryptocurrency staking and offers opportunities for users to delegate their tokens to Validators, thereby earning passive rewards. Originally incorporated in 2002, the company was formerly named Cypherpunk Holdings Inc. before rebranding as Sol Strategies Inc. in September 2024. Its operations are based out of Toronto, Canada.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

Revenue data limited

EPS Growth

-850.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

Research and development spending

Cash Runway

~8 years

$62M cash & investments

Quarterly Free Cash Flow

$62M cash & investments at current burn rate

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

116.2%

Premium pricing power — 116.2% gross margin

Operating Margin

533.3%

Excellent — 533.3% operating margin

ROCE

-91.8%

Weak — -91.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

N/A

—

Data not available

EPS YoY

-4186.4%

Earnings shrinking (-4186.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

N/A

Data not available

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Stability

Debt / Equity

1.06

Elevated debt (1.06)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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