Forward Industries, Inc. (NASDAQ: FWDI), a Solana-focused digital asset treasury company, reported a significant increase in its SOL and SOL equivalent holdings for its fiscal fourth quarter ended September 30, 2026. The company added 948,601 SOL during the quarter, a 13% increase, bringing total holdings to 8,501,298 SOL. This represents approximately 1.4% of Solana's circulating supply, underscoring Forward's substantial position within the Solana ecosystem. The SOL acquired during the quarter had an average cost of $83 per SOL, reflecting a strategic accumulation phase.
The implications of this announcement are noteworthy for both Forward Industries and the broader digital asset market. The 13% quarter-over-quarter growth in SOL holdings demonstrates the company's commitment to its treasury strategy, which aims to expand and strengthen the Solana ecosystem. Notably, SOL per fully diluted share rose 10.4% to 0.0806 from 0.0730, indicating that the increased holdings are translating into tangible shareholder value. Additionally, the preliminary, unaudited net asset value surged to approximately $870.4 million as of September 30, up from approximately $481.3 million as of June 30. This near-doubling of NAV highlights the potential for digital asset treasuries to generate substantial returns, especially when the underlying asset appreciates.
Forward Industries' strategy is backed by industry-leading investors and operating partners, including Galaxy Digital and Jump Crypto, which participated in a private placement transaction in September 2025. The company's mission is to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. By acquiring and staking SOL, Forward aims to increase shareholder value while contributing to the Solana network's security and decentralization. For more information on the Company's Solana treasury strategy, visit www.forwardindustries.com.
The latest news and updates relating to FWDI are available in the company's newsroom at https://ibn.fm/FWDI. To view the full press release, visit https://ibn.fm/Gcttb.
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