NASDAQ$FWDI
Forward Industries Inc · Q2 2026 earnings
Q2 2026 earnings ·
Briefing
Forward Industries Inc reported a net loss of $283 million for Q2 2026 driven by digital asset impairments and fair value declines.
The company generated $13.0 million in quarterly revenue, primarily from Solana staking activities in its digital assets segment. Significant losses on digital asset holdings and impairments totaling over $286 million led to a substantial net loss. Management believes liquidity from cash, digital assets, and the ATM facility will support operations through May 2027.
- Q2 revenue reached $12.96 million, up over 300% year-over-year due to new digital asset treasury operations.
- Gross margin improved to 70% from negative territory, supported by high-margin staking revenue.
- Digital asset losses and impairments exceeded $286 million amid SOL price volatility.
- Company repurchased over 9.2 million shares during the quarter as part of its $1 billion buyback program.
Headline financials
Revenue & EPS history
Forward Industries Inc · Revenue · Quarterly
$13M
Revenue by segment
Forward Industries Inc · $13M total across 2 segments · Q2 2026
- Digital Assets$9.33M—72.0%
- Design$3.63M—28.0%
Forward guidance
Management expects existing cash, digital asset holdings, and ATM access to fund operations through at least May 2027.
Tailwinds
- Strong liquidity runway supported by digital assets and ATM facility
- High-margin staking revenue stream established
Headwinds
- Ongoing volatility in SOL prices impacting asset values
- Continued share repurchase activity reducing cash reserves
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2026
+0.8%
Avg return
Earnings day
-1.7%
Avg return
5 days after
-0.8%
Avg return
30 days after
42%
11 / 26 earnings
Positive
+9.3%
Q3 2025
Best reaction
-5.0%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +9.2% | -12.5% | — | |
| Q1 2026 | -1.4% | -3.7% | -4.3% | |
| Q3 2025 | +9.3% | -18.0% | +169.2% | |
| Q2 2025 | -1.2% | -9.4% | -22.0% | |
| Q1 2025 | +2.3% | -5.9% | -37.1% | |
| Q3 2024 | -5.0% | -5.2% | -3.4% | |
| Q2 2024 | +0.0% | +0.0% | +0.0% | |
| Q1 2024 | +0.0% | -6.7% | -38.7% | |
| Q3 2023 | +1.1% | -5.7% | -8.0% | |
| Q2 2023 | -1.0% | -2.9% | -2.0% | |
| Q1 2023 | -2.9% | -8.1% | -22.1% | |
| Q3 2022 | +3.5% | +3.5% | -14.6% | |
| Q2 2022 | +0.0% | +0.0% | +11.7% | |
| Q1 2022 | +0.6% | +5.7% | +0.6% | |
| Q3 2021 | -1.9% | -6.9% | -7.7% | |
| Q2 2021 | -3.1% | +7.0% | +28.5% | |
| Q1 2021 | +7.1% | +20.9% | -12.8% | |
| Q3 2020 | -0.7% | +33.1% | +4.3% | |
| Q2 2020 | +0.7% | -5.1% | -8.8% | |
| Q1 2020 | +0.0% | -2.6% | -13.2% | |
| Q3 2019 | +0.9% | +1.8% | +7.3% | |
| Q2 2019 | +0.0% | -4.2% | -20.1% | |
| Q1 2019 | +1.8% | -0.6% | -8.5% | |
| Q3 2018 | +1.8% | -13.7% | -9.5% | |
| Q2 2018 | +0.0% | -3.8% | -7.5% | |
| Q3 2016 | +0.0% | -2.0% | -2.0% | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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