)
Forward Industries (FWDI) investor relations material
Forward Industries Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 FY2026 marked the first full quarter operating as a Solana-focused digital asset treasury company, with a strategy centered on compounding SOL per share and active participation in the Solana ecosystem.
Significant partnerships and product launches included tokenized common shares on Solana and the introduction of fwdSOL, a proprietary liquid staking token.
Completed the sale of the OEM distribution segment in May 2025, classifying its results as discontinued operations.
Management reaffirmed a long-term strategy, emphasizing a clean balance sheet, no institutional debt, and readiness to capitalize on market dislocations.
Expanded on-chain participation, including the launch of a proprietary automated market maker and asset management agreements with Galaxy Digital.
Financial highlights
Revenue rose over 4x year-over-year to $21.4 million in Q1 FY2026, driven by digital asset staking revenue.
Gross margin increased to 78.6% from 24.5% year-over-year, with gross profit at $16.8 million.
Net loss was $585.6 million, primarily due to a $560.2 million loss on digital assets and a $33 million impairment charge.
Cash balance was $25.4 million as of December 31, 2025, with working capital of $52.9 million.
SG&A expenses increased to $7.2 million from $2.0 million year-over-year.
Outlook and guidance
Management targets SOL per share growth above the Solana staking yield (6%-7%) on a risk-adjusted basis, with a 13% annualized growth achieved in Q1.
Management expects existing cash and working capital to be sufficient through at least February 2027, assuming the ability to liquidate digital assets as needed.
Plans to remain opportunistic in M&A and capital allocation, adapting to market conditions and maintaining a disciplined, long-term approach.
Liquidity assessment does not account for potential margin calls or collateral requirements from DeFi activities.
Management expressed confidence in evolving beyond a treasury into an active, value-generating business aligned with Solana's growth.
Next Forward Industries earnings date
Next Forward Industries earnings date
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)