Forward Industries Reports Fiscal Second Quarter 2026 Financial and Operating Results
FWDI
Published on 05/14/2026 at 04:40 pm EDT
Management to Host Conference Call Today at 5:00 p.m. Eastern Time
AUSTIN, TX, May 14, 2026 (GLOBE NEWSWIRE) -- Forward Industries, Inc. (NASDAQ: FWDI) (the “Company” or “Forward”), the leading Solana treasury company, today announced its financial and operating results for the fiscal second quarter ended March 31, 2026, along with an update on its SOL treasury strategy.
“Our second fiscal quarter was defined by disciplined execution across the business — sharpening our cost structure, strengthening our balance sheet, and deepening our engagement within the Solana ecosystem,” said Kyle Samani, Chairman of Forward Industries. “Against a backdrop of market volatility, we took decisive actions to position Forward for long-term value creation by securing a highly advantageous institutional debt facility with our strategic partner, Galaxy Digital, and executing a strategic share repurchase that reduced our basic shares outstanding by 7.4%. We also implemented a cost reduction plan in March that we expect to materially lower operating expenses in the coming quarters."
“At the same time, the Solana ecosystem continues to scale as real financial infrastructure, with adoption of stablecoins, payments, and real-world asset activity compounding at a remarkable pace. We believe Forward is positioned to capitalize on that growth, combining the world’s largest Solana treasury with an active, institutional-grade operating platform designed to compound value over time.”
Second Quarter Fiscal 2026 and Recent Highlights
Forward Industries Treasury Update
Ryan Navi, Forward's Chief Investment Officer, added, “During the second fiscal quarter, we focused on strengthening the capital foundation that will enable us to materially accelerate SOL-per-share growth in 2026 and beyond. Our partnership with Galaxy Digital — together with our use of fwdSOL as collateral — has unlocked access to capital at terms we believe are highly attractive relative to the broader market, enhancing our ability to deploy capital efficiently. That flexibility, combined with a meaningfully improving cost structure, positions Forward to pursue strategic transactions that compound both our treasury scale and SOL-per-share over time. Looking ahead, we will remain disciplined in managing risk, deepening our role in the Solana ecosystem, and building a platform designed to deliver long-term value for shareholders.”
Q2 Fiscal 2026 Financial Summary (vs. Q2 Fiscal 2025)
Conference Call and Webcast Details
The Company will host a conference call today, May 14, 2026, to discuss its financial and operating results for the three months ended March 31, 2026.
Forward's executive team will host the conference call and webcast presentation, followed by a question-and-answer period.
Date: Thursday, May 14, 2026Time: 5:00 p.m. ETWebcast: FWDI’s FQ2’26 Earnings Conference Call
Participants can also access the Company's earnings call using the call me option here for instant telephone access to the event, which will be active approximately 15 minutes before the scheduled start time.
If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.
About Forward Industries, Inc.
Forward Industries, Inc. (NASDAQ: FWDI) is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Forward’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to and investing in the Solana network, Solana developers and Solana related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched a digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company's Solana treasury strategy, visit www.forwardindustries.com.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements relating to the Company's plan for value creation and strategic advantages, expected cost reductions, market size and growth opportunities. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, failure to realize the anticipated benefits of the digital asset treasury strategy; the ability to realize anticipated cost savings from the cost reduction plan; changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of Solana and other cryptocurrencies; the risk that the price of the Company's common stock may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company's filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.
Contacts
Media ContactGarrison YangForward Industries, [email protected]
Investor Relations ContactSean Mansouri, CFA / Aaron D’SouzaElevate IR(720) [email protected]
FORWARD INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS
FORWARD INDUSTRIES, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)
Capitalization Table as of March 31, 2026
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