Q1 2026 Forward Industries Inc Earnings Call Transcript

Feb 12, 2026 / 10:00 PM GMT

Release Date Price: $4.85 (-1.42%)

Transcript 10-Q

Key Points

Positve

Forward Industries Inc (FWDI) reported a significant increase in revenue for Q1 2026, rising more than four times to $21.4 million compared to $4.6 million in the previous year.
The company's gross margin improved substantially to 78.6% in Q1 2026 from 24.5% in Q1 2025, driven by staking revenue from its Solana Treasury strategy.
FWDI has maintained a clean balance sheet with no institutional debt, allowing it to play offense in a volatile market environment.
The company has successfully launched its own SEC-registered shares on a public blockchain, marking a significant step in bridging public equities with on-chain financial infrastructure.
FWDI's strategic partnerships and collaborations, such as with Sanctum for liquid staking, position it to capture incremental yield while maintaining liquidity.

Negative

FWDI reported a net loss of $585.6 million for Q1 2026, primarily due to the decline in the fair value of its Solana holdings.
The company's selling, general, and administrative expenses increased significantly to $7.2 million in Q1 2026 from $2 million in Q1 2025, driven by higher operational costs associated with its transition to the Solana Treasury strategy.
The volatility in the market, particularly in the price of Solana, poses a risk to FWDI's financial performance and asset valuation.
Despite the strategic focus on Solana, the company faces challenges in navigating regulatory environments and ensuring compliance across jurisdictions.
The reliance on digital asset valuations introduces significant fluctuations in reported earnings, which may not reflect the underlying operational performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FWDI.OQ - Forward Industries Inc
Q1 2026 Forward Industries Inc Earnings Call
Feb 12, 2026 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon, everyone, and thank you for participating in today's conference call to discuss Ford Industries' financial and operating results for the first quarter of fiscal 2026 ended December 31, 2025.

By now, everyone should have access to the first quarter of fiscal 2026 earnings press release, which was issued today at approximately 4:05 p.m. Eastern time.

The release will be available on the investor relations section of Forward Industries website. This call will also be available for webcast replay on the company's website.

Following management's remarks, we will open up the call for Q&A.

I will now hand the call over to Ford Industries General Counsel, Georgia Quinn for

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