Forward Industries Reports $585.6M Q1 Loss After $560.2M Solana Write-Down

Forward Industries said its fiscal Q1 ended Dec. 31, 2025 closed with a net loss of $585.6 million after accounting marks reduced the value of its Solana holdings. The company reported $560.2 million in digital-asset losses plus a $33 million impairment charge, while it held about 6.96 million SOL worth roughly $1.59 billion and staked most of it for 6.5%–7.2% annualized yields. Revenue rose to $21.4 million from $4.6 million as staking income increased, and the firm also introduced its liquid staking token fwdSOL.