Forward Industries Reports Q3 2026 Earnings with Strong Revenue Growth and Strategic Treasury Accumulation
Forward Industries (FWDI) reported a significant year-over-year revenue increase of 332% to $10.8 million in the third quarter, driven by staking and treasury-related income. The company expanded its Solana token holdings to 7.6 million as of June 30, with additional purchases during Q3 contributing to SOL per share growth at a 9% sequential rate. Despite reporting a net loss of $69 million due primarily to noncash impairment and valuation losses on digital assets under GAAP accounting rules, Forward Industries executed strategic financial moves. These included repurchasing 2.5 million shares during the quarter and securing institutional debt through Galaxy with an outstanding balance of $105 million at low interest rates. The company also made progress in its Solana ecosystem strategy by acquiring tokenized reinsurance assets under management worth $247 million, growing from a prior period investment. Forward Industries remains focused on increasing SOL per share and reducing net share count through buybacks while navigating the current softness of digital asset markets.
Tickers: $FORD
Topics: buybacks debt digital assets revenue