Curated News
By: NewsRamp Editorial Staff
August 13, 2026
Forward Industries Q3 Revenue Quadruples on Solana Staking
TLDR
- Forward Industries boosts SOL holdings to 1.3% of supply, positioning for Solana growth, but faces net loss.
- Forward Industries increased SOL and equivalents by 508,618 to 7.55 million, earning 106,000 in staking rewards, and added 254,000 SOL at about $75 each.
- Forward Industries strengthens Solana ecosystem by staking and investing, aiming to increase shareholder value.
- Forward Industries joined Russell 2000 and 3000 indexes, repurchased 2.5 million shares, and now holds 1.3% of Solana's supply.
Impact - Why it Matters
This news matters because it highlights a significant trend of companies adopting cryptocurrency treasury strategies, with Forward Industries' aggressive accumulation of Solana (SOL) positioning it as a major holder, representing 1.3% of SOL's circulating supply. The company's substantial staking rewards and index inclusion signal growing institutional acceptance of digital assets. For investors, this demonstrates potential high-growth opportunities but also underscores the volatility and risk, as evidenced by the large non-cash losses. Understanding such strategies is crucial for evaluating the future of corporate finance and the integration of blockchain assets into traditional business models.
Summary
Forward Industries (NASDAQ: FWDI) reported a remarkable fiscal third-quarter 2026, with revenue soaring to $10.8 million, more than four times the $2.5 million from the same period last year, driven largely by staking and treasury-related revenue from its Solana strategy. The company increased its SOL holdings by 508,618 during the quarter to approximately 7.55 million SOL, and fully diluted SOL per share rose 9% sequentially to 0.0730. Forward also earned about 106,000 SOL in staking rewards and repurchased over 2.5 million common shares. Despite a net loss of $69 million, including a $49.8 million loss on digital assets and a $15.2 million impairment, the company emphasized these were non-cash items and not realized sales.
Subsequent to the quarter, Forward added roughly 254,000 SOL at an average cost of $75 per SOL, boosting its total holdings to about 7.8 million SOL as of August 3, representing approximately 1.3% of Solana's circulating supply. The company also joined the Russell 2000 and Russell 3000 indexes during the quarter and is actively evaluating acquisitions to scale its SOL treasury and increase SOL per share. For more details, visit the full press release.
Forward Industries is a Solana-focused digital asset treasury company, aiming to buy, hold, stake, trade, invest in, and grow SOL and related assets. Its strategy, launched in September 2025 with support from investors like Galaxy Digital and Jump Crypto, seeks to strengthen the Solana ecosystem and enhance shareholder value. For more on the company's strategy, visit forwardindustries.com. The news was distributed by CryptoCurrencyWire, a platform within the Dynamic Brand Portfolio @ IBN.
Source Statement
This curated news summary relied on content distributed by InvestorBrandNetwork (IBN). Read the original source here, Forward Industries Q3 Revenue Quadruples on Solana Staking
