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Forward Industries Reports 319% Revenue Growth, But SOL Impairment Widens Q1 Loss to $283.1M

GateNews
Industry ReportsStockssolana news
SOL2.72%

According to BlockBeats, on May 15, Forward Industries released its Q1 2026 earnings, reporting revenue growth of 319% to $13 million, primarily from Solana staking yields. However, the company recorded a net loss of $283.1 million due to $201.7 million in digital asset losses and $85.1 million in impairment charges, driven by SOL price depreciation.

Solana declined approximately 33.7% during the quarter, closing at $82.44. The company held approximately 7.04 million SOL with nearly all assets in staking positions, generating about 201,200 SOL in staking rewards.

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