Quarterly ResultMay 14, 2026, 04:15 PM
Forward Industries Q2 Revenue +315% to $13.0M; Net Loss $(283.1)M
AI Summary
Forward Industries reported a significant increase in net revenues for the three and six months ended March 31, 2026, primarily driven by its new digital asset treasury strategy. However, the company incurred a substantial net loss of $(283.1) million for the quarter and $(868.7) million for the six-month period, largely due to losses and impairment charges on digital assets. The company also completed a reincorporation to Texas and a Section 382 study limiting NOLs.
Key Highlights
- Net revenues for Q2 2026 increased 315% to $12.96 million from $3.12 million in Q2 2025.
- Net loss for Q2 2026 was $(283.08) million, compared to $(1.45) million in Q2 2025.
- Basic loss per share for Q2 2026 was $(2.98), up from $(1.32) in Q2 2025.
- Digital assets decreased to $583.14 million at March 31, 2026, from $1.43 billion at September 30, 2025.
- Incurred $761.92 million loss and $118.14 million impairment on digital assets for the six months.
- Cash balance decreased to $16.63 million at March 31, 2026, from $38.17 million at September 30, 2025.
- Total liabilities increased to $57.06 million from $4.82 million, including $40.0 million in related party loans.
- Repurchased $58.02 million of treasury stock during the six months ended March 31, 2026.