Forward Industries revenue jumps 4x to $13M as SOL markdowns drive $283M quarterly loss
Globenewswire •
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Promote with Leviathan NewsForward Industries said fiscal Q2 revenue rose more than 4x YoY to $13.0M, mostly from staking its Solana treasury, while net loss blew out to $283.1M after $201.7M of digital asset losses and $85.1M of impairments. The company held 7.04M SOL as of March 31, had generated 201,201 SOL in staking rewards, and had $40M of Galaxy Digital debt backed by fwdSOL. The quarter reads like a pure-play SOL treasury trade: operating revenue is real, but GAAP earnings are dominated by mark-to-market pain.
TLDR by @Benthic
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