Forward Industries raises SOL holdings to 8.5M in fiscal Q4

Forward Industries, Inc. (NASDAQ: FWDI) reported that its Solana (SOL) holdings grew by approximately 949,000 SOL during its fiscal fourth quarter ended September 30, 2026, bringing total SOL and SOL equivalent holdings to 8,501,298, according to a company statement.

The quarterly increase of 13% — from 7,552,698 SOL as of June 30, 2026 — was achieved at an average cost of $83 per SOL. The holdings represent approximately 1.4% of Solana's circulating supply. SOL per fully diluted share rose to 0.0806 from 0.0730, a quarterly gain of 10.4%, or approximately 42% on an annualized basis. Over the company's first full fiscal year executing its Solana-focused strategy, SOL per fully diluted share grew 33% from 0.0604 as of September 30, 2025.

The company's preliminary, unaudited net asset value as of September 30, 2026 stood at $870.4 million, up from $481.3 million at the end of the prior quarter. Institutional debt increased to $167.5 million from $105 million over the same period. Cash and cash equivalents were $7.3 million, compared with $11 million at June 30, 2026.

Forward also reported that ONyc, the token associated with its investment in OnRe, a Solana-based tokenized reinsurance platform, had a market capitalization of approximately $286.2 million as of September 30, 2026, up 40.7% from approximately $203.4 million at the end of June 2026.

"This was a standout quarter for Forward, with record SOL additions far outpacing our peers and SOL per share growth of approximately 42% on an annualized basis," said Ryan Navi, Chief Investment Officer of Forward Industries. The company's fully diluted share count was 105,535,801 as of September 30, 2026. All figures are preliminary and unaudited, subject to completion of the company's annual audit.

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