Forward Industries Reports Fiscal Year 2025 Financial Results

NEW YORK--( BUSINESS WIRE)--Forward Industries, Inc. (NASDAQ: FWDI) (the "Company" or “Forward Industries”), the leading Solana treasury company, today reported financial results for the twelve months ended September 30, 2025 (“Fiscal 2025”).

“Our Fiscal 2025 results reflect less than one month of activity from our recently launched Solana treasury strategy, yet we continued to execute with discipline throughout the quarter to build the foundation for long-term SOL-per-share growth,” said Kyle Samani, Chairman of Forward Industries. “While we are still early in our operational buildout, in the fourth quarter of Fiscal 2025 we generated approximately $4.6 million in staking revenue, and we expect this segment to scale meaningfully as we expand our treasury and unlock additional on-chain yield opportunities.”

“It's also important to highlight the accounting treatment of our SOL holdings. Current accounting standards for digital assets require non-cash changes in the fair value of SOL to be recorded as a component of other non-operating income/loss. These fluctuations do not impact our cash balance, yield generation, or ability to continue compounding SOL-per-share. We believe this distinction is essential in evaluating our financial performance, which is driven by strategy execution—not short-term market volatility.”

FY 2025 Financial Summary (vs. FY 2024)

Highlights from the Company’s results for Fiscal 2025 from its Solana treasury, as well as its global design company serving medical and technology companies, were as follows:

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FWDI) is a design company serving top tier medical and technology companies. For over 60 years the company has been successful in developing and producing a portfolio of outstanding products for some of the world’s leading companies and brands. In September 2025, Forward Industries initiated a Solana treasury strategy dedicated to acquiring SOL and increasing SOL-per-share through bespoke strategies and active management of the company’s treasury. The Company’s Solana treasury strategy is supported by industry leading investors and operating partners, including Galaxy Digital, Jump Crypto, and Multicoin Capital. For more information on the Company’s Solana treasury strategy, visit www.forwardindustries.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements relating to the Company’s plan for value creation and strategic advantages, market size and growth opportunities. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, failure to realize the anticipated benefits of the proposed digital asset treasury strategy (including the share repurchase program); changes in business, market, financial, political and regulatory conditions; risks relating to the Company’s operations and business, including the highly volatile nature of the price of Solana and other cryptocurrencies; the risk that the price of the Company’s common stock may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.

2025

2024

38,166,973

2,777,125

1,635,171

2,308,425

1,064,264

1,272,993

355,548

382,832

2,908,039

41,221,956

9,649,414

1,430,486,289

124,331

218,025

680,386

1,558,682

2,303,776

2,593,112

806,137

68,737

1,474,942,489

14,768,356

600,000

433,044

103,581

923,513

292,525

399,439

450,949

404,056

623,512

571,662

7,292,858

2,723,543

9,371,596

2,094,079

2,429,726

4,817,622

11,801,322

2,200,000

861,455

11,011

1,655,874,892

20,393,163

(186,611,480

)

(19,637,140

)

1,470,124,867

2,967,034

1,474,942,489

14,768,356

2025

2024

18,187,525

19,990,833

12,996,281

14,807,117

5,191,244

5,183,716

1,029,350

769,370

9,604,490

6,365,464

923,513

2,026,311

200,000

(8,392,420

)

(2,151,118

)

160,035,105

658,332

(70,669

)

(78,863

)

49,143

62,662

4,244

8,315

(169,068,575

)

(2,143,232

)

20,404

22,947

(169,088,979

)

(2,166,179

)

2,114,639

215,592

(166,974,340

)

(1,950,587

)

(166,974,340

)

(1,950,587

)

(24.90

)

(1.97

)

0.31

0.20

(24.59

)

(1.77

)