Forward Industries Posts $69M Fiscal Q3 Loss on Solana Impairment

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.