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Forward Industries (FWDI)
NASDAQ:FWDI
Earnings Data
Report Date
May 08, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
-1.32Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mix of strong operational execution and product development (notably rapid revenue growth, much-improved gross margins, large staked SOL treasury, fwdSOL launch, tokenized on-chain shares and institutional ecosystem progress) alongside a material, non-cash accounting-driven loss (≈$585.6M) and near-term liquidity and expense pressures (cash down ~33.5%, SG&A up ~260%). Management stresses that the large loss is driven by mark-to-market accounting for SOL fair value and emphasized a clean balance sheet and long-term strategy to compound SOL per share. Given the meaningful operational progress but the substantial reported net loss and fair-value volatility, the call balances clear strategic positives with significant near-term headline negatives.Company Guidance
Revenue and Gross Margin Expansion
Revenue increased more than 4x to $21.4 million in Q1 FY2026 from $4.6 million in Q1 FY2025 (≈+365%). Gross margin expanded to 78.6% from 24.5% in the prior year quarter (increase of 54.1 percentage points), primarily driven by staking revenue from the Solana treasury strategy.
Large Solana Treasury and High-Stake Positioning
Forward held approximately 6,962,501 SOL as of 12/31/2025 with more than 99% of holdings staked, positioning the company as an at-scale Solana treasury larger than the next three SOL treasuries combined.
Staking Yield, Rewards and SOL-per-Share Accretion
Native staking yield was approximately 6.5%–7.2%. Forward generated over 112,000 SOL in staking rewards during the reporting period. Fully diluted SOL per share increased from 0.0604 to 0.0624 over the quarter (a ~0.002 SOL increase, ≈+3.3% quarter-over-quarter), with an annualized SOL-per-fully-diluted-share growth rate reported at roughly 13%.
mNAV and Capital Metrics
Management reported an mNAV of approximately 0.85 as of 12/31/2025 (based on SOL price $125, 6,962,501 SOL, Forward stock close $6.61 and fully diluted share count 111,591,332). Fully diluted share count was detailed as 111,591,332 (84,924,272 common shares, 26,359,600 warrants and 307,460 options).
Product and Infrastructure Launches
Launched proprietary liquid staking token fwdSOL in partnership with Sanctum (≈25% of SOL holdings represented by fwdSOL) to retain staking yield while increasing liquidity. Began testing a proprietary automated market maker (Prop AMM) developed with Galaxy and Jump Crypto and integrated into Jupiter and other Solana aggregators.
Tokenization and On-Chain Share Innovation
Became one of the first public companies to have SEC-registered shares (FWDI) issued on Solana through Superstate’s Opening Bell platform, enabling real-time on-chain record keeping and, for eligible non-U.S. holders, use of tokenized FWDI as collateral in DeFi.
Ecosystem and Institutional Momentum
Management highlighted accelerating Solana adoption across payments, DeFi, RWA experimentation and institutional integrations (cited partners/mentions include Revolut, Western Union, Calshi, Figure, PayPal, WisdomTree expanding regulated tokenized funds on Solana). Company positioned to participate in on-chain activity and institutional use cases.
Balance Sheet Discipline and Strategic Optionality
Management emphasized a 'clean balance sheet' with no institutional debt as of 12/31/2025, signaling capacity to play offense (M&A, opportunistic stock-for-stock transactions) while peers that used leverage may be more constrained.
FWDI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
FWDI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $4.85 | $4.83 | -0.41% |
Dec 11, 2025 | $7.58 | $7.56 | -0.26% |
Feb 13, 2025 | $5.74 | $5.87 | +2.30% |
Dec 19, 2024 | $4.52 | $4.41 | -2.43% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Forward Industries (FWDI) report earnings?
Forward Industries (FWDI) is schdueled to report earning on May 08, 2026, TBA (Confirmed).
What is Forward Industries (FWDI) earnings time?
Forward Industries (FWDI) earnings time is at May 08, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FWDI EPS forecast?
Currently, no data Available