Forward Industries Q2 Net Loss Hits $69M Amid SOL Value Adjustments

Fiscal Q2 loss of $69M driven by SOL fair value impairment. Revenue surged 4x YoY to $10.8M on staking income, while holdings rose to 7.8M SOL.

Woofun AI reports that Forward Industries recorded a $69 million net loss for the third quarter of fiscal year 2026, primarily due to impairment charges from adjusting SOL asset fair values under U.S. GAAP. The company's revenue increased more than fourfold year-on-year to $10.8 million, fueled by SOL staking and financial services income.

During the period, Forward Industries acquired and staked over 500,000 additional SOL tokens and executed a buyback of 2.5 million shares. Holdings reached approximately 7.55 million SOL at quarter-end, with per-share ownership rising 9% to 0.073. By August 3, total SOL holdings grew to roughly 7.8 million, lifting per-share amounts to 0.0754. FWDI stock declined 1.36% in after-hours trading following the report.