Forward Industries Posts 319% Revenue Growth but Records $283.1M Net Loss on SOL Markdowns

According to its earnings report released Thursday (May 14), Forward Industries posted $13 million in Q2 2026 revenue, up 319% year-over-year, but recorded a net loss of $283.1 million for the quarter ended March 31. The Solana treasury firm recognized a $201.7 million loss on digital assets and an $85.1 million impairment related to SOL holdings, reflecting fair value declines. The company noted these non-cash charges do not impact liquidity.

Solana declined 33.7% during the three-month period, closing the quarter at $82.44. At March 31, Forward Industries held approximately 7.04 million SOL, with nearly all holdings staked and generating 201,201 SOL in staking rewards.