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Forward Industries Reports 319% Revenue Growth, But SOL Impairment Widens Q1 Loss to $283.1M

GateNews

Industry Reports Stocks solana news

2026-05-15 09:25:35

SOL-3.86%

According to BlockBeats, on May 15, Forward Industries released its Q1 2026 earnings, reporting revenue growth of 319% to $13 million, primarily from Solana staking yields. However, the company recorded a net loss of $283.1 million due to $201.7 million in digital asset losses and $85.1 million in impairment charges, driven by SOL price depreciation.

Solana declined approximately 33.7% during the quarter, closing at $82.44. The company held approximately 7.04 million SOL with nearly all assets in staking positions, generating about 201,200 SOL in staking rewards.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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