Helius Medical Tech (NASDAQ:HSDT) released first-quarter financial results and hosted an earnings call on Friday. Read the complete transcript below.
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The full earnings call is available at https://edge.media-server.com/mmc/p/de2cmwtu/
Summary
Helius Medical Tech announced a significant increase in first-quarter revenue to $3.6 million, driven primarily by staking revenue.
The company is expanding its digital asset treasury platform, focusing on advisory services, validated infrastructure, and platform business to capture growth in the APAC region.
Despite cryptocurrency market volatility, Helius Medical Tech achieved a net staking yield of 6.9% and executed strategic share repurchases and capital raises to enhance shareholder value.
The company divested its cash-burning medical device business, signaling a strategic shift towards digital asset management.
Management highlighted the importance of capital allocation strategies and maintaining a lean operational structure to support future growth initiatives.
Full Transcript
OPERATOR
Thank you for standing by and welcome to the Solana Company’s first Quarter Operating Results Conference call. At this time, all participants are in listen only mode. After the speaker’s presentation, there will be a question and answer session. To ask a question during this session, you’ll need to press star 11 on your telephone. If your question has been answered and you’d like to remove yourself from the queue, simply press star 11 again. As a reminder, today’s program is being recorded and now I’d like to introduce your host for today’s program, Serena Jassy, Investor Relations. Please go ahead.
Serena Jassy (Investor Relations)
Thank you operator before we begin, I would like to inform you that comments and responses to your questions during today’s call reflect management’s views as of today, May 15, 2026 only and includes forward looking statements and opinion statements including predictions, estimates, plans, expectations and other similar information. Actual results may differ materially from those expressed or implied as a result of certain risks and uncertainties. These risks and uncertainties are more fully described in our press release issued earlier today and in the sections entitled Risk Factors in our Annual report on Form 10-K filed with the United States securities and Exchange Commission or the SEC on March 31, 2026 as well as in subsequent filings with the SEC. Our SEC filings can be found on our website or on the SEC’s website. Investors are cautioned not to place undue reliance on forward looking statements. We disclaim any obligation to update or revise these forward looking statements. Please note that this conference call will be available for audio replay on our website under the News and Events section of our Investor Relations page. With that, I would now like to turn the call over to Solana Company’s Chairman, President and Chief Executive Officer Joseph Chee.
Joseph Chee
Thank you Serena. Good afternoon everyone and welcome. Solana Company’s first quarter 2026 earnings call. I’m pleased to report on another quarter of significant progress as we continue to build out our multifaceted digital asset treasury platform and execute our Solana treasury strategy. Before diving into our strategic initiatives, I would like to highlight key additions to the Solana Company. In early April, we welcomed Madeline Gemmy as our Chief Operating Officer and Deputy Chief Financial Officer and today announced that she will serve as our Chief Financial Officer, Treasurer and Secretary Madeline is joining us on this earnings call for the first time and she will be presenting our financial results later in the call. In late April, we closed the strategic capital raise as disclosed in our public filings. The instrumental offering led by Global institution investor Miray with participation by hash key marks an inflection point demonstrating both deep commitment from leading APAC institution investors and a market premium for our Solana strategy. Now turning to the first quarter of 2026 in a quarter of crypto market volatility and headwinds, I’m proud that our first quarter’s performance and how we stayed focused on execution, the strategic use of capital markets, on chain opportunities and operational discipline enabled the company to maximize our Solana per share during the first quarter. Our first quarter revenue increased exponentially from the prior year. Notwithstanding the volatility of Solana price, we remain resilient and continue our execution of generating consistent staking reward of 32,500 Solana tokens in the first quarter 2026 compared to 34,000 Solana tokens in the fourth quarter 2025. At Solana Company we are building a diversified revenue engine architect to target institutional demand, which we believe to be one of the fastest growing digital asset regions in the world. We support the growth of on chain ecosystem through three integrated revenue generating service lines. Advisory Services we provide bespoke advisory traditional financial institutions and corporates enabling them to unlock tangible business value through blockchain adoption. Second, validated infrastructure we offer what we call Pacific Backbone, a compliant high performance infrastructure necessary for regulated institutions to scale staking and validation activities. In Solana platform business is a third piece. We bring an AI powered end to end compliance stack. This serves as the critical foundation for long term collaborative digital asset operations. Seamlessly connecting our global business partners with these initiatives represent a multi year trajectory. We expect the operational impact to be felt within this fiscal year. We are not simply participating in APAC growth trend. We aim to be positioned to drive meaningful impact through accelerated Solana adoption through our bespoke advisory Services, Pacific Backbone compliant and high performance infrastructure and orchestration through our platform business. To illustrate how this unlock recurring revenue, we view them as a self reinforcing flywheel. First, our bespoke advisory services provide a strategic roadmap and implementation services for major financial institutions and corporates to transition on chain and unlock tangible business outcomes. By focusing on high impact use cases, specifically stablecoin payments and real world asset tokenization, we lower the barrier to entry moving our partners from concept to execution with speed and regulatory confidence. Next, the Pacific Backbone serves as the foundation of our flywheel. The infrastructure provides the enterprise great throughput security compliance operation that institutional clients demand. By offering what we believe to be a trusted high performance environment, we enable our partners to scale the on chain operation with the reliability unique to our specialized APAC footprint. In early May, we announced a strategic partnership with JITO to advance yield optimization capabilities to our validated operation. The Broader Digital Asset. The Platform Business is our AI powered orchestration foundation offering an end to end compliance and operations stack. It acts as a conservative connective tissue for collaborative digital asset operations. It continuously brings and connects business partners serving as the essential layer to foster digital asset operation and business partnerships. Asia Pacific represents the majority of the world’s crypto users at a substantial share of global cross border payments and trading activities, yet it remains significantly underserved by Solana’s existing network infrastructure. We believe our integrated approach, advisory infrastructure and platform position us to serve this market and potentially capture meaningful recurring revenue streams if and as adoption accelerates. With that, before I turn it over to Cosmo to elaborate on our treasury management and capital markets results, I would also like to mention that as you were able to see in our even subsequent section of 10Q, we have completed the divestiture of our cash burning pawn business, the medical device business, and completed a series of rationalization steps in Q2. The positive financial results will be felt in Q2. Let me pass the Put him back to Cosmo.
Cosmo Jiang (Director at Solana Company and General Partner)
Thanks Joe hey everyone. I’m Cosmo Jiang, Director at Solana Company and General Partner at Pantera Capital. Pantera Capital is the Asset Manager for Solana Company’s Digital Asset treasury since the close of the pipe transaction in September 2025 and I am pleased to report on another quarter of disciplined execution. As we discussed last quarter, the digital asset treasury market is moved on from its genesis phase and is solid in its execution and consolidation phase. The first quarter of 2026 continues to validate this. We saw further differentiation among …
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