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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Dec. 31, 2022
Current Assets:      
Cash $ 8,766 $ 6,368 $ 1,136
Restricted cash 1,981 2,999 685
Accounts receivable, net (allowance for expected credit losses $611 and $0 as of September 30, 2024 and December 31, 2023) 2,045 2,948 320
Notes receivable 33 446 219
Prepaid expenses and other current assets 5,662 1,416 1,107
Equipment held for sale 28 107 295
Total Current Assets 18,515 14,284 3,762
Restricted cash, noncurrent 1,460 1,000
Other assets 8,718 2,954 1,150
Deposits and credits on equipment 5,019 1,028 1,175
Property, plant and equipment, net 43,471 44,572 42,209
Intangible assets, net 19,986 27,007 36,432
Operating lease right-of-use assets 180 431 233
Total Assets 97,349 91,276 84,961
Current Liabilities:      
Accounts payable 3,388 2,099 3,548
Accrued liabilities 7,666 4,906 2,721
Line of credit   350
Convertible notes payable 3,370 8,474 11,737
Current portion of debt 14,529 10,864 10,546
Income tax payable 65 24
Deferred revenue   453
Customer deposits-current 2,291 1,588
Operating lease liability 26 220 161
Total Current Liabilities 31,335 28,175 29,516
Other liabilities 191 499 203
Customer deposits- long-term 1,248
Long-term debt 8,100
Operating lease liability 155 216 84
Deferred tax liability, net 5,973 7,779 8,886
Total Liabilities 45,754 37,917 38,689
Commitments and Contingencies (Note 9)
Stockholders’ Equity:      
Common stock, par value $0.001 per share, authorized 75,000,000; 7,690,219 shares issued and 7,649,478 shares outstanding as of September 30, 2024 and 2,546,361 shares issued and 2,505,620 shares outstanding as of December 31, 2023 8 3 [1] 1 [1]
Additional paid-in capital 308,947 291,276 277,429
Accumulated deficit (274,287) (250,970) (221,769)
Common stock in treasury, at cost, 40,741 shares at September 30, 2024 and December 31, 2023 (13,798) (13,798) [1] (13,798) [1]
Total Soluna Holdings, Inc. Stockholders’ Equity 20,875 26,514 41,866
Non-Controlling Interest 30,720 26,845 4,406
Total Stockholders’ Equity 51,595 53,359 46,272
Total Liabilities and Stockholders’ Equity 97,349 91,276 84,961
Series A Preferred Stock [Member]      
Stockholders’ Equity:      
Preferred stock, value 5 3 3
Series B Preferred Stock [Member]      
Stockholders’ Equity:      
Preferred stock, value
[1] Prior period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25 that became effective October 13, 2023. See Note 2, “Accounting Policies,” for details.