Forward Industries/$FWDI
1D1W1M3M6MYTD1Y5YMAX
Capital at risk
About Forward Industries
Forward Industries Inc is a Solana-focused digital asset treasury company, with the idea to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. Its mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to, and investing in the Solana network, Solana developers, and Solana-related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, it launched a digital asset treasury idea supported by investors and operating partners, including Galaxy Digital and Jump Crypto.
- Ticker
- $FWDI
- Sector
- Digital Hardware
- Primary listing
- NASDAQ
- Employees
- 60
- Headquarters
- Austin, United States
- Website
- forwardindustries.com
FWDI Metrics
BasicAdvanced
$469M
-
-$14.47
0.82
-
Price and volume
Market cap
$469M
Beta
0.82
52-week high
$8.76
52-week low
$3.48
Average daily volume
1.9M
Financial strength
Current ratio
0.173
Quick ratio
0.123
Long term debt to equity
0.001
Total debt to equity
0.25
Interest coverage (TTM)
16.99%
Profitability
EBITDA (TTM)
10.171
Gross margin (TTM)
70.56%
Net profit margin (TTM)
-2,073.85%
Operating margin (TTM)
18.86%
Effective tax rate (TTM)
-0.01%
Revenue per employee (TTM)
$890,000
Management effectiveness
Return on assets (TTM)
2.05%
Return on equity (TTM)
-461.37%
Valuation
Price to revenue (TTM)
9.103
Price to book
0.99
Price to tangible book (TTM)
0.99
Price to free cash flow (TTM)
-26.303
Free cash flow yield (TTM)
-3.80%
Free cash flow per share (TTM)
-0.241
Growth
Revenue change (TTM)
254.52%
Earnings per share change (TTM)
334.57%
3-year revenue growth (CAGR)
16.16%
10-year revenue growth (CAGR)
6.45%
3-year earnings per share growth (CAGR)
80.39%
10-year earnings per share growth (CAGR)
33.72%
Bulls say / Bears say
Fully diluted SOL per share rose 10.4% in fiscal Q4 and 33% over the first year of the treasury strategy, suggesting capital allocation has so far grown the token claim per share despite share issuance. (U.S. Securities and Exchange Commission)
Forward increased its holdings by 13% in fiscal Q4 to 8.5 million SOL, about 1.4% of Solana’s circulating supply. That gives shareholders substantial direct exposure if Solana strengthens. (MarketWatch)
Forward earned about 106,000 SOL in staking rewards in fiscal Q3 and had generated roughly 300,000 SOL cumulatively since launching the strategy; its validator was among Solana’s ten largest. Staking adds token-denominated yield to the treasury without relying solely on new purchases. (U.S. Securities and Exchange Commission)
Forward reported a $69 million net loss in fiscal Q3, including $49.8 million of digital-asset losses and $15.2 million of impairments. This shows how sharply reported results can deteriorate when its concentrated crypto holdings fall in value. (GlobeNewswire, The Motley Fool)
Debt rose to $167.5 million by 30 September from $105 million at 30 June, while cash fell to $7.3 million. Because much of the asset base is tied to SOL, a steep price fall could weaken the balance sheet and make financing more difficult. (U.S. Securities and Exchange Commission)
A September offering sold 3.125 million shares at $8 each to raise $25 million, in part to buy more SOL. Further equity-funded growth could dilute existing holders if new shares are issued faster than the treasury value grows per share. (U.S. Securities and Exchange Commission)
Data summarised monthly by Lightyear AI. Last updated on 15 Oct 2026.
FWDI Financial Performance
Revenues and expenses
FWDI Earnings Performance
Company profitability
Upcoming events
No upcoming events
FWDI News
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Funds containing FWDI
Fund name | Fund size | $FWDI weighting |
|---|---|---|
SPDR Russell 2000 US Small Cap£R2SC | $5.3B | 0.01% |
SPDR Russell 2000 US Small Cap€R2US | $5.3B | 0.01% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
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