According to a report from BeInCrypto carried by ChainCatcher, Nasdaq-listed Forward Industries posted a net loss of $69 million in the third quarter of fiscal 2026. The loss was mainly driven by a fair-value impairment on its Solana holdings under U.S. generally accepted accounting principles (GAAP). The company ended the quarter holding roughly 7.55 million SOL, which translates to 0.073 SOL per share, up 9% from the previous quarter. During the quarter, Forward Industries added more than 500,000 SOL through purchases and staking, and also repurchased 2.5 million shares of its common stock. Revenue reached $10.8 million, more than four times the year-ago level, with the bulk of the gain coming from SOL staking and other treasury-related business. As of Aug. 3, its Solana holdings had increased to about 7.8 million SOL, lifting per-share SOL holdings to 0.0754. After the earnings release, shares of FWDI slipped 1.36% in after-hours trading.
Forward Industries, a Nasdaq-listed company, reported a net loss of $69 million in the third quarter of fiscal 2026, according to BeInCrypto. The loss was chiefly caused by a fair-value impairment on the company's Solana holdings under U.S. generally accepted accounting principles (GAAP).
The company ended the quarter with about 7.55 million SOL, equal to 0.073 SOL per share, a 9% sequential gain. During the quarter, it added more than 500,000 SOL through purchases and staking, and bought back 2.5 million shares. Revenue came in at $10.8 million, up more than fourfold year over year, with the increase attributed mainly to SOL staking and other treasury-related income.
As of Aug. 3, Forward Industries' SOL holdings stood at roughly 7.8 million tokens, pushing per-share holdings to 0.0754. After the earnings release, shares of FWDI slipped 1.36% in after-hours trading.
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