Forward Industries (NASDAQ: FWDI) reported fiscal third-quarter 2026 revenue of $10.8 million, more than four times the $2.5 million reported a year earlier, primarily driven by staking and other treasury-related revenue generated through its Solana treasury strategy. The company increased its SOL and SOL equivalent holdings by 508,618 during the quarter to approximately 7.55 million, while fully diluted SOL per share increased 9% sequentially to 0.0730. Forward generated approximately 106,000 SOL in staking rewards during the quarter and repurchased more than 2.5 million common shares. The company reported a net loss of $69 million, including a $49.8 million loss on digital assets and a $15.2 million impairment of digital assets, which it said did not represent realized sales or cash outflows.
Subsequent to quarter-end, Forward added approximately 254,000 SOL at an average cost of approximately $75 per SOL, bringing its SOL and SOL equivalent holdings to approximately 7.8 million as of Aug. 3, representing approximately 1.3% of Solana’s circulating supply. The company was also added to the Russell 2000 and Russell 3000 indexes during the quarter and continued evaluating acquisitions intended to increase the scale of its SOL treasury and be accretive to SOL per share.
To view the full press release, visit https://ibn.fm/4cqpi
About Forward Industries, Inc.
Forward Industries, Inc. (NASDAQ: FWDI) is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Our mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to and investing in the Solana network, Solana developers and Solana related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, we launched our digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company’s Solana treasury strategy, visit forwardindustries.com
NOTE TO INVESTORS: The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI
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