Key Takeaways:
Forward Industries posted a $585.6M Q1 loss as Solana prices triggered $560.2M write-downs.Forward holds 6.96M SOL worth $1.59B, expanding staking and Solana infrastructure bets.Forward launched fwdSOL and targets 7.2% yields as Solana treasury strategy scales.Chairman Kyle Samani described the quarter as the company’s first full reporting period operating under its new treasury-focused model.
At the same time, operating costs climbed significantly. Selling, general, and administrative expenses rose to $7.2 million from $2 million in the prior-year period as the company expanded infrastructure and on-chain operations.
Chief Investment Officer Ryan Navi said the initiatives are intended to create a scalable operating platform capable of increasing SOL-per-share over time rather than simply holding tokens passively.
The company ended the quarter with approximately $25.4 million in cash and no institutional debt.
