Forward Industries (NASDAQ: FWDI), the leading Solana treasury company, today reported financial results for the twelve months ended Sept. 30, 2025, noting that despite less than one month of activity under its new Solana treasury strategy, the Company generated approximately $4.6 million in staking revenue during the fourth quarter and continues building toward long-term SOL-per-share growth. Fiscal 2025 net revenue was $18.2 million versus $20.0 million in the prior year, with operating expenses of $13.6 million compared to $7.3 million, and results reflecting a $160 million non-cash, unrealized mark-to-market loss on SOL holdings required under current accounting standards.
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