Forward Industries, Inc. Q3 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Forward Industries Fiscal Q3 2026 Earnings Summary (Ended June 30, 2026)

Key Highlights

  • Executed Solana treasury strategy for third full quarter since launch in September 2025; focus remains on growing SOL per share on a risk-adjusted basis.
  • Added to Russell 2000 and Russell 3000 indices effective June 29, 2026, enhancing institutional visibility and liquidity.
  • Solana ecosystem metrics showed strength: 3.8B transactions in June, 167M monthly token holders (April high), $2.5B+ tokenized RWAs, and $257M in app revenue (9th consecutive quarter leading all blockchains).
  • Net loss widened due to GAAP-required unrealized digital asset impairments; management emphasizes operating metrics (SOL holdings, SOL per share) over GAAP results.

SOL Treasury Performance

  • SOL holdings: 7.6 million as of June 30, 2026 (up from 7.0 million at March 31, 2026); reached 7.8 million as of August 3, 2026 after adding 254,000 SOL at ~$75 average cost.
  • SOL per share (fully diluted): 0.073 at June 30, 2026 (up from 0.0669 at March 31, 2026, +9% QoQ or ~36% annualized); further increased to 0.0754 by August 3, 2026. Prior periods: 0.0604 (Sep 2025), 0.0624 (Dec 31, 2025).
  • Acquired ~508,000 SOL during Q3 at ~$79 average cost; cumulative staking rewards since Sep 2025 total ~307,000 SOL. Staked nearly all holdings to Forward validator (~1.8% network stake).

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Operator: Good afternoon, and welcome to the Forward Industries Fiscal Third Quarter 2026 Earnings Conference Call. [Operator Instructions]. As a reminder, this call is being recorded. and a replay will be available on the company's Investor Relations website. I would now like to turn the call over to Georgia Quinn, General Counsel of Forward Industries. Please go ahead. Georgia Quinn: Thank you, operator, and good afternoon, everyone. Welcome to Forward Industries Earnings Call for our fiscal third quarter, which ended June 30, 2026. Joining me on today's call are Kyle Samani, our Chairman; Ryan Navi, our Chief Investment Officer; and Mark Brazier, our Chief Financial Officer. Earlier this afternoon, we issued a press release announcing our financial and operating results for the quarter. That release, along with the presentation accompanying today's remarks is available on the Investor Relations section of our website at www.forwardindustries.com. Before we begin, I need to remind everyone that certain statements made on today's call are forward-looking statements within the meaning of the federal securities laws. These statements include, among other things, statements regarding our Solana treasury strategy, our expectations for SOL per share growth, our expected returns on certain investments, our capital allocation plans, pending or potential acquisitions and regulatory developments. Forward-looking statements involve known and unknown risks -- and uncertainties that cou

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