Sol Strategies

CYFRF

Financial - Capital Markets · Financial Services

Exchange

Other OTC

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Data not available

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, a cryptocurrency and blockchain network. Instead of building traditional products, the company buys and accumulates SOL tokens — the native currency of the Solana blockchain — and also runs validator nodes, which help keep the Solana network operating in exchange for staking rewards. Its main "customers" are really its own shareholders, who get exposure to Solana's price through owning stock in the company.

Sol Strategies makes money primarily through staking rewards earned by validating transactions on the Solana network, and through any increase in the value of its SOL holdings. It trades on Canadian markets and is a small company with a market cap around $200 million. The unusual financial margins reflect the accounting treatment of crypto asset gains rather than traditional business profits. The biggest risk the company faces is straightforward: if the price of Solana drops sharply, the value of its entire business drops with it, since nearly everything depends on SOL's market price.

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

-921.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-929.2% YoY

YoY Growth Rate

Earnings declining

Insider Activity

32.2%ownership

Insiders own a meaningful stake in the company

Cash Runway

~1 months

$856,309 cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Sol Strategies has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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

123.2%

Excellent — 123.2% operating margin

Return on the money invested

ROCE

-42.0%

Weak — -42.0% 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

-187.0%

Shrinking sales (-187.0% YoY)

Profit growth

EPS YoY

<−1,000%

Earnings shrinking (<−1,000% YoY)

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

How steady the profit is

EPS Consistency

3/8 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

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

1.06

Elevated debt (1.06)

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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