Sol Strategies Inc. Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Call Date: Approximately early May 2026 (covering fiscal Q2 2026, October 2025 – March 31, 2026)

Key Participants: Michael Hubbard (CEO), Doug Harris (CFO), Steve Ehrlich (Chief Strategy Officer)

Strategic & Operational Highlights

  • Launched STKESOL liquid staking token on Solana in January 2026. By March 31, 2026, approximately 768,000 SOL (~USD 61 million / CAD 83 million) deposited into the protocol. Company earns 5% of all stake and rewards. Integrations include Kamino, Orca, Loopscale, Squads, and Sanctum. Uses proprietary Wiz Score for validator allocation across up to 75 validators.
  • Acquired Zyga zero-knowledge proof engine and related IP/assets from Darklake Labs in April 2026. Team members Vitor Py Braga (Director of Engineering) and Amber Hales joined. Focus on privacy-preserving execution and dynamic slippage protection for trades.
  • Signed definitive agreement to acquire Houdini Swap for USD 18 million (expected close by end of May 2026). Houdini is a non-custodial, privacy-enabled cross-chain swap aggregator operating on 100+ blockchains and 30+ exchanges; >50% of trailing 12-month volume touches Solana. Expected annual revenue of USD 12-13 million with earn-out floor of USD 2.5 million EBITDA per year.

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Operator: Good afternoon, everyone. Welcome to today's Sol Strategies' Fiscal Second Quarter 2026 Earnings Conference Call. [Operator Instructions] On the call with us today is Mr. Michael Hubbard, Chief Executive Officer; Mr. Doug Harris, Chief Financial Officer; and Mr. Steve Ehrlich, Chief Strategy Officer. At this time, I'd like to turn the conference over to Mr. John Ragozzino with ICR. Please go ahead, sir. John Ragozzino: Thanks, Bob. Good afternoon, everyone, and thank you for joining Sol Strategies fiscal second quarter 2026 earnings conference call. Before we begin, I want to remind everyone that certain statements on this call contain forward-looking statements subject to risks and uncertainties. Actual results may differ materially from these statements. We refer you to our latest press release, MD&A and SEDAR+ filings for a detailed risk factors description and all assumptions. All dollar amounts are in Canadian dollars unless otherwise noted. The company assumes no significant events occur outside our normal course of business and that our current trends in digital assets continue. However, listeners should note that crypto markets are volatile, and that our business metrics can fluctuate significantly. With that, let me turn it over to Michael Hubbard, Sol Strategies CEO. Michael Hubbard: Thanks, John. Good afternoon, everyone, and thank you for joining us. The first half of our fiscal year 2026 covered October through March, and a lot has happened during this

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