Forward Industries Reports Fiscal Second Quarter Results, Advances Solana Treasury Strategy with $40 Million Debt Facility, Share Repurchase, and Cost Reduction Plan

Forward Industries (NASDAQ: FWDI) released its fiscal second-quarter 2026 financial results, outlining several strategic initiatives aimed at strengthening its balance sheet and expanding its Solana-focused treasury strategy. The company secured a $40 million institutional debt facility with Galaxy Digital, completed a $27.4 million share repurchase that reduced basic shares outstanding by 7.4%, and implemented a cost reduction plan expected to lower quarterly SG&A expenses. Additionally, Forward announced a strategic investment in OnRe and plans to deploy up to $25 million into its yield-bearing token, broadening exposure to tokenized real-world assets while diversifying revenue streams beyond its core SOL-focused strategy.

The debt facility with Galaxy Digital provides Forward with additional capital to execute its digital asset treasury strategy. The company's approach involves buying, holding, staking, trading, and investing in SOL and related digital assets, protocols, and businesses. Forward's mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL, engaging with the network, providing tools, and investing in Solana developers and projects to increase shareholder value. The company launched its digital asset treasury strategy in September 2025 through a private placement transaction, supported by industry-leading investors including Galaxy Digital and Jump Crypto.

The share repurchase program, which reduced outstanding shares by 7.4%, reflects management's confidence in the company's strategic direction and its commitment to enhancing shareholder value. Concurrently, the cost reduction plan targets lower SG&A expenses, improving operational efficiency. These measures, combined with the OnRe investment, signal Forward's intent to diversify its revenue streams while maintaining its Solana focus.

Forward Industries, headquartered in Austin, Texas, is a Solana-focused digital asset treasury company. The company's strategy includes investing in SOL and related digital assets to generate yield and grow its treasury. For more information on Forward's Solana treasury strategy, visit forwardindustries.com. The latest news and updates relating to FWDI are available in the company's newsroom at https://ibn.fm/FWDI.