Forward Inds Inc N Y Stock Price, News & Analysis

Forward Industries (NASDAQ: FWDI) reported Fiscal 2025 results for the 12 months ended September 30, 2025. The company recorded net revenue $18.2M versus $20.0M a year earlier and total operating expenses $13.6M versus $7.3M. Forward launched a Solana treasury strategy late in the period and generated approximately $4.6M in staking revenue in Q4. Fiscal 2025 includes a $160.0M non-cash unrealized loss from mark-to-market accounting on SOL holdings, required under U.S. GAAP, which the company says did not affect cash balances. Reported net loss was $167.0M versus a $2.0M loss in the prior year, driven largely by the unrealized SOL adjustment.

Forward Industries (NASDAQ: FWDI) provided a shareholder update after launching its Solana treasury strategy in September 2025, reporting that it has built the world’s largest Solana treasury and deployed validator infrastructure.

Key facts: closed a $1.65 billion private placement on Sept 11, 2025; announced an $4 billion at-the-market program; holds 6,921,342 SOL as of Dec 1, 2025, having purchased 6,834,505.96 SOL at a net cost of $232.08/SOL (~$1.59 billion total); staking APY between 6.82% and 7.01% gross; operating capital ~$30.0 million as of Dec 2, 2025.

Forward Industries (NASDAQ: FWDI) announced a strategic partnership with Sanctum to launch fwdSOL, a liquid staking token that represents SOL delegated by Forward Industries and enables continued native staking yield while unlocking DeFi and institutional borrowing strategies.

The company will receive approximately 1,725,100 fwdSOL, corresponding to 25% of Forward Industries’ SOL holdings. Forward plans to use fwdSOL as collateral to borrow assets for allocation into vetted DeFi protocols and revenue-generating strategies, and may add CLOUD to its holdings or purchase more from Sanctum in the future.

Forward Industries (NASDAQ: FWDI) announced on December 1, 2025 that Ryan Navi has joined as Chief Investment Officer, effective immediately.

Mr. Navi will oversee execution of Forward’s Solana treasury strategy, including sourcing and structuring capital‑markets opportunities, and leveraging staking and validator infrastructure to pursue higher SOL‑per‑share and long‑term shareholder value. His background includes serving as Managing Director and Head of Venture at ParaFi Capital, six years as a Principal at KKR focused on liquid and distressed credit, and an earlier start in M&A at Citi.

Forward Industries (NASDAQ: FWDI) appointed Georgia Quinn as General Counsel effective November 25, 2025.

Ms. Quinn will oversee legal, compliance, corporate governance, litigation, and public policy as Forward executes its Solana treasury strategy. She brings nearly two decades of legal, regulatory, and fintech experience, including roles as Chief Legal Officer at Securitize, General Counsel and advisor at Anchorage Digital, General Counsel at CoinList, and CEO/co‑founder of legal tech platform iDisclose.

Management and Ms. Quinn highlighted her prior involvement with Solana fundraising and token launch and the appointment is presented as supporting Forward’s regulatory and growth objectives in the Solana ecosystem.

Forward Industries (NASDAQ: FWDI) will host a shareholder update conference call on December 2, 2025 at 5:00 p.m. ET to discuss its newly launched Solana digital asset treasury strategy, operational milestones, and initiatives to grow SOL-per-share. The call will be hosted by Chairman Kyle Samani and include a Q&A session.

Dial-in options include a toll-free number and an international number; a live webcast and a “call me” registration option will be available about 15 minutes before the start. For registration or connection help, contact Elevate IR at (720) 330-2829.

Forward Industries (NASDAQ: FWDI) reported its November 15, 2025 treasury update, disclosing 6,910,568 SOL in liquid holdings. Since inception the company purchased 6,834,505.96 SOL at a net cost of $232.08 per SOL, for an approximate total cost basis of $1.59 billion.

The company’s validator infrastructure has delivered a 6.82% gross APY before fees and nearly all SOL holdings are staked. Between October 16 and November 15, 2025, Forward reset $334 million in notional value and spent ~$51,600 net on tax‑loss harvesting. The update follows a newly announced $1 billion share repurchase program and the ticker change from FORD to FWDI as of November 17, 2025.

Forward Industries (NASDAQ:FORD → FWDI) announced a Nasdaq ticker change to FWDI, effective at the open of trading on November 17, 2025.

The change aligns the company with its stated Solana treasury strategy focused on acquiring SOL and increasing SOL-per-share through active management and ecosystem participation. The company also noted formation of a 25-member Crypto Advisory Board drawn from the Solana ecosystem, digital assets, capital markets, and financial services.

All trading activity, regulatory filings, and market information will be reported under FWDI as of November 17, 2025, and existing shareholders are not required to take action. More information is available at sol.forwardindustries.com.