SEC filings · customer concentration · SLNH

Soluna Holdings's major customers

Project Dorothy1 B accounted for 100% of Soluna Holdings's revenue in FY 2025, about the same as 100% a year earlier.

4major customers now
200%of revenue from them
0listed suppliers depending on it
2021–2026years covered
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Major customers of Soluna Holdings

Customers that Soluna Holdings named in its annual report as 10% or more of revenue. A missing year means the customer was below that line or not named.

CustomerShare of revenueChange vs prior yearHistoryLatest filing
Project Dorothy1 B100%from 100%FY 2023: 65%FY 2024: 100%FY 2025: 100%3 yearsFY 2025 · filed 30 Mar 2026
Project Dorothy1 A37%▼ from 73%FY 2024: 73%FY 2025: 37%2 yearsFY 2025 · filed 30 Mar 2026
Project Dorothy233%newFY 2025: 33%1 yearFY 2025 · filed 30 Mar 2026
Project Sophie30%from 27%FY 2022: 54%FY 2023: 28%FY 2024: 27%FY 2025: 30%4 yearsFY 2025 · filed 30 Mar 2026

Formerly disclosed

CustomerShare of revenueChange vs prior yearHistoryLatest filing
Project Dorothy65%last FY 2023FY 2023: 65%1 yearFY 2023 · filed 1 Apr 2024
Project Marie7%last FY 2023FY 2021: 25%FY 2022: 41%FY 2023: 7%3 yearsFY 2023 · filed 31 Mar 2025
Project Edith5%last FY 2022FY 2021: 34%FY 2022: 5%2 yearsFY 2022 · filed 1 Apr 2024

About this data

US-listed companies must disclose revenue from any single customer that reaches 10% of their total (ASC 280). ShadowGraph reads these disclosures from the XBRL data of every 10-K and 20-F we scan, keeps one value per fiscal year (restatements replace earlier values) and links each number to its filing. Companies that describe a customer only as "Customer A" are not listed by name. Figures are as reported; nothing here is investment advice.

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