Forward Industries (FWDI), listed on Nasdaq, posted a $69 million net loss for its fiscal third quarter, or $0.80 per share, after writedowns on its Solana (SOL) treasury. Despite this accounting loss driven by US GAAP rules, the company continued growing its Solana holdings to more than 7.55 million SOL by June 30, pushing SOL per share up 9% to 0.0730 quarter-over-quarter. Revenue surged more than 4x to $10.8 million, fueled by SOL staking and other treasury income. Forward Industries, already the world’s largest corporate Solana holder, continued buying after quarter-end, reporting 7.8 million SOL as of August 3 with SOL per share at 0.0754.
Source: Read the original article
