Sol Strategies Inc. Common Shares

STKE

Asset Management · Financial Services

Exchange

NASDAQ Global Select

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Winston Score History

The full picture

Sol Strategies Inc. is a Canadian company that invests in and holds Solana (SOL), a cryptocurrency and blockchain network. Instead of building products itself, the company buys and accumulates SOL tokens, giving investors a way to gain exposure to Solana through a traditional stock market investment. It operates in the digital asset space, similar to how some companies hold Bitcoin as a treasury asset.

The company makes money primarily through the appreciation of its Solana holdings and by staking SOL tokens — a process where it earns rewards for helping validate transactions on the Solana network. The unusual gross and operating margins reflect accounting for crypto asset gains rather than traditional business revenue. Sol Strategies is a small-cap company focused mainly on the Canadian market. Its value is closely tied to the price of Solana, meaning a sharp drop in crypto markets is the single biggest risk the business faces.

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

>+1,000% YoY

Strong revenue growth

EPS Growth

-22.5% YoY

YoY Growth Rate

Earnings declining

Insider Activity

25.9%ownership

Insiders own a meaningful stake in the company

Cash Runway

5+ years

Quarterly Free Cash Flow

$51M cash & investments at current burn rate

Strong grower

Sol Strategies Inc. Common Shares is growing revenue at 594236019% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

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

Profit per sale

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Profit after running costs

Operating Margin

-859.0%

Losing money on operations — -859.0%

Return on the money invested

ROCE

-18973772.0%

Weak — -18973772.0% return on capital

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

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Growth

Sales growth

Sales YoY

>+1,000%

Fast-growing sales (>+1,000% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

0/5 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-0.0%

Burning cash (-0.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

1.40

Elevated debt (1.40)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

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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