Solana treasury firm Forward Industries' Q3 revenue jumps less than expected

Forward Industries

12/08/2026 21:18

Overview
Solana treasury firm's fiscal Q3 revenue rose sharply yr/yr but missed analyst expectations
Company posted net loss of $69 mln, driven by digital asset losses and impairments
Forward increased SOL holdings and repurchased 2.6 mln shares during the quarter

Outlook
Company expects to reduce average quarterly SG&A expenses, excluding stock comp, to about $4.8 mln
Forward says it is actively evaluating acquisitions to increase scale of SOL treasury
Company sees current market conditions as creating opportunities for consolidation in digital asset treasuries

Result Drivers
STAKING AND TREASURY REVENUE - Revenue growth was primarily driven by staking and other treasury-related income from Solana holdings
SOL HOLDINGS GROWTH - Company increased SOL and SOL equivalent holdings by over 500,000 during the quarter through purchases and staking
DIGITAL ASSET LOSSES - Net loss was driven by $49.8 mln loss on digital assets and $15.2 mln impairment, reflecting fair value changes

Company press release: ID:nGNX6tdKXC

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$10.8 mln
$12.58 mln (3 Analysts)
Q3 Loss Per Share
 
$0.80
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the corporate financial services peer group is "buy"
Wall Street's median 12-month price target for Forward Industries Inc is $8.00, about 86.9% above its August 11 closing price of $4.28

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)