NASDAQ: FWDI Forward Industries, Inc. 8-K

Forward Industries reports $69M Q3 loss on digital asset impairments, adds 508,618 SOL

Filed August 12, 2026 · Period ending August 12, 2026 · ~1 min read

Key Changes

high

Q3 fiscal 2026 net loss of $69.0M ($0.80/share) driven by $49.8M loss on digital assets and $15.2M impairment—U.S. GAAP fair value adjustments, not realized sales or cash outflows.

Exhibit 99.1 view on EDGAR →
high

Added 508,618 SOL during Q3 and ~254,000 SOL post-quarter at ~$75/SOL average cost, bringing total holdings to ~7.8M SOL as of Aug 3, 2026; SOL per share grew 9% quarter-over-quarter to 0.0730.

Exhibit 99.1 view on EDGAR →
medium

Repurchased 2.56M shares during Q3, reducing outstanding shares to 73.8M; issued 93,642 shares via ATM for $435,443 gross proceeds deployed into SOL purchases—both actions deemed accretive to SOL per share.

Exhibit 99.1 view on EDGAR →
medium

As of June 30, 2026, held ~$11.0M cash and SOL with $556.9M carrying value; $105.0M debt outstanding under Galaxy Digital facility at ~2.6% weighted average interest rate.

Exhibit 99.1 view on EDGAR →

Summary

Forward Industries disclosed Q3 fiscal 2026 results showing a $69.0 million net loss ($0.80 per share), driven by $49.8 million in digital asset losses and $15.2 million in impairments. These are U.S. GAAP-required fair value adjustments reflecting mark-to-market volatility in the company's Solana holdings, not realized sales or cash outflows.

Revenue increased more than 4x year-over-year to $10.8 million, driven by staking and treasury-related revenue from the company's Solana strategy. The company added 508,618 SOL during the quarter and approximately 254,000 SOL post-quarter at an average cost of approximately $75 per SOL, bringing total holdings to approximately 7.8 million SOL as of August 3, 2026.

SOL per share on a fully diluted basis grew 9% quarter-over-quarter to 0.0730, representing approximately 36% annualized growth. Forward repurchased 2.56 million shares during the quarter, reducing outstanding shares to 73.8 million, while issuing 93,642 shares through its ATM program for $435,443 in gross proceeds deployed into additional SOL purchases. Management executed both actions when deemed accretive to SOL per share. As of June 30, 2026, Forward held approximately $11.0 million in cash and SOL with a carrying value of approximately $556.9 million, with $105.0 million of debt outstanding under its Galaxy Digital facility at a weighted average interest rate of approximately 2.6%. Retail holders should understand that the reported loss reflects accounting treatment of unrealized digital asset volatility rather than operational performance, while the company continues to expand its SOL treasury position and SOL-per-share metric.

Section-by-Section Diff

Event · Item 2.02 — Results of Operations and Financial Condition

~76 words

Forward Industries disclosed Q2 2026 financial results via press release.

1 Added

Added Q2 2026 earnings announcement medium

Added in current filing · verify on EDGAR →

On August 12, 2026, Forward Industries, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2026.

The company announced its financial results for the quarter ended June 30, 2026 through a press release. The 8-K body does not contain the actual financial figures; those would be in the attached Exhibit 99.1 press release, which is not included in the provided text.

Event · Item 7.01 — Regulation FD Disclosure

~200 words

Forward Industries announced a conference call to discuss Q2 2026 financial results, scheduled for August 12, 2026 at 5:00 p.m. Eastern Time.

1 Added

Show 1 minor / wording change

Added Q2 2026 earnings call announcement low

Added in current filing · verify on EDGAR →

On August 12, 2026, the Company issued a press release in conjunction with a conference call to discuss its financial results for the quarter ended June 30, 2026. The call is scheduled for August 12, 2026 at 5:00 p.m. Eastern Time.

Forward Industries announced a conference call to discuss financial results for the quarter ended June 30, 2026. The call is scheduled for August 12, 2026 at 5:00 p.m. Eastern Time, with dial-in and webcast access provided.

Event · Exhibit 99.1

~3,700 words View exhibit on EDGAR ↗

Forward Industries reported Q3 FY2026 results, adding 508,618 SOL to treasury, repurchasing 2.5M shares, and posting a $69M net loss driven by digital asset impairments.

4 Added

Added Q3 FY2026 financial results high

Added in current filing · view on EDGAR →

Revenue for the third quarter of fiscal 2026 increased more than 4x to $10.8 million, compared with $2.5 million in the prior year period. The increase was primarily driven by staking and other treasury-related revenue generated through the Company’s Solana treasury strategy. ... Net loss for the third quarter of fiscal 2026 was $69.0 million, or $0.80 per share, compared with a net loss of approximately $850,000, or $0.77 per share, in the prior-year period.

Forward Industries reported Q3 fiscal 2026 revenue of $10.8 million, up more than 4x year-over-year, driven by staking and treasury-related revenue from its Solana strategy. The company posted a net loss of $69.0 million ($0.80 per share), compared to a net loss of approximately $850,000 ($0.77 per share) in the prior-year period. The larger loss reflects U.S. GAAP-required charges for digital asset fair value changes and impairments.

Added SOL treasury expansion high

Added in current filing · view on EDGAR → · paraphrased

Forward increased its SOL and SOL equivalent holdings by 508,618 SOL during its fiscal third quarter 2026. Subsequent to quarter end, from July 1 through August 3, 2026, the Company increased its holdings by an additional approximate 254,000 SOL at an average cost of approximately $75 per SOL, bringing total SOL and SOL equivalent holdings to approximately 7.8 million SOL and SOL equivalents as of August 3, 2026. ... SOL per share on a fully diluted basis increased to 0.0730 as of June 30, 2026, from 0.0669 as of March 31, 2026, representing sequential growth of 9%, or approximately 36% on an annualized basis.

Forward added 508,618 SOL during Q3 fiscal 2026 and another approximately 254,000 SOL post-quarter at an average cost of approximately $75 per SOL, bringing total holdings to approximately 7.8 million SOL as of August 3, 2026. SOL per share on a fully diluted basis increased 9% quarter-over-quarter to 0.0730 as of June 30, 2026, representing approximately 36% annualized growth. The company continues to stake nearly all SOL holdings and generated approximately 106,000 SOL in staking rewards during the quarter.

Added Russell index inclusion medium

Added in current filing · view on EDGAR →

Effective June 29, 2026, Forward was added to the Russell 2000 and Russell 3000 indexes as part of the annual index reconstitution. The Company believes its inclusion will broaden its institutional shareholder base, enhance trading liquidity and increase its visibility among investors that benchmark against or passively track the Russell indexes.

Forward was added to the Russell 2000 and Russell 3000 indexes effective June 29, 2026, as part of the annual reconstitution. The company expects this inclusion to broaden its institutional shareholder base, enhance trading liquidity, and increase visibility among investors tracking or benchmarking against the Russell indexes.

Added Digital asset losses and balance sheet high

Added in current filing · view on EDGAR →

The Company recorded a $49.8 million loss on digital assets and a $15.2 million impairment of digital assets. These U.S. GAAP-required charges reflect changes in the estimated fair value of the Company’s digital assets during the period and do not represent realized sales or cash outflows. ... As of June 30, 2026, Forward had approximately $11.0 million of cash and SOL holdings with a carrying value of approximately $556.9 million. The Company had $105.0 million of debt outstanding under its Galaxy Digital facility at a weighted average interest rate of approximately 2.6%.

Forward recorded a $49.8 million loss on digital assets and a $15.2 million impairment during Q3 fiscal 2026, reflecting U.S. GAAP-required fair value adjustments that do not represent realized sales or cash outflows. As of June 30, 2026, the company held approximately $11.0 million of cash and SOL with a carrying value of approximately $556.9 million, with $105.0 million of debt outstanding under its Galaxy Digital facility at a weighted average interest rate of approximately 2.6%.