Forward Industries Reports Fiscal Q2 Results, Advances Solana Treasury Strategy with $40M Galaxy Debt Facility
Forward Industries reported fiscal second-quarter 2026 results, highlighting a $40 million institutional debt facility with Galaxy Digital, a $27.4 million share repurchase, and a cost reduction plan, as the company deepens its Solana-focused treasury strategy.
Forward Industries, Inc. (NASDAQ: FWDI) reported fiscal second-quarter 2026 results on Tuesday, detailing strategic moves to strengthen its balance sheet and expand its Solana-focused treasury strategy. The company announced a $40 million institutional debt facility with Galaxy Digital, a $27.4 million share repurchase that reduced basic shares outstanding by 7.4%, and implementation of a cost reduction plan expected to lower quarterly SG&A expenses.
The news underscores Forward Industries' commitment to its digital asset treasury strategy centered on Solana (SOL). The company also disclosed a strategic investment in OnRe and plans to deploy up to $25 million into its yield-bearing token, expanding exposure to tokenized real-world assets while diversifying revenue streams beyond its core SOL-focused strategy.
Forward Industries positions itself as a Solana-focused digital asset treasury company, with a strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. The company's mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with Solana network developers and projects to increase shareholder value.
In connection with a private placement transaction in September 2025, Forward Industries launched its digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. The $40 million facility with Galaxy Digital provides institutional backing for the company's treasury operations.
The share repurchase program, which reduced basic shares outstanding by 7.4%, signals management's confidence in the company's valuation and strategic direction. Combined with the cost reduction plan targeting lower SG&A expenses, these actions aim to improve operational efficiency and shareholder returns.
Forward Industries' investment in OnRe and the planned deployment of up to $25 million into its yield-bearing token represent a strategic expansion into tokenized real-world assets. This move diversifies the company's revenue streams beyond its core SOL-focused strategy, potentially reducing risk and opening new avenues for growth.
The company's focus on Solana comes amid growing institutional interest in blockchain-based treasury strategies. By leveraging debt financing and share repurchases, Forward Industries is taking a proactive approach to capital management while deepening its involvement in the Solana ecosystem.
For more details on the full press release, visit https://ibn.fm/t8663. Additional information on the company's Solana treasury strategy is available at forwardindustries.com.