Forward Industries(US:FORD)2025-12-11 21:37Financial Performance - Net revenue for Fiscal 2025 was $18.2 million, a decrease of 9% compared to $20.0 million in the prior year[5] - The company reported a net loss of $167.0 million for Fiscal 2025, compared to a net loss of $2.0 million in the prior year, primarily due to a $160.0 million non-cash, unrealized loss on SOL holdings[5] - Basic loss per share from continuing operations was $24.90 for Fiscal 2025, compared to $1.97 in the prior year, highlighting the impact of increased losses[11] Operating Expenses - Total operating expenses increased to $13.6 million, up from $7.3 million in the prior year, reflecting a significant rise in operational costs[5] Revenue Sources - In the fourth quarter of Fiscal 2025, Forward Industries generated approximately $4.6 million in staking revenue from its newly launched Solana treasury strategy[3] Asset Management - Total current assets increased to $41.2 million in Fiscal 2025, compared to $9.6 million in the prior year, driven by a significant increase in cash holdings[9] - Digital assets on the balance sheet amounted to $1.43 billion as of September 30, 2025, reflecting the company's investment in Solana[9] - The company’s total assets reached $1.47 billion in Fiscal 2025, a substantial increase from $14.8 million in the prior year, reflecting its growth in digital asset investments[9] Strategic Focus - Forward Industries is focused on expanding its treasury strategy to unlock additional on-chain yield opportunities, indicating a strategic shift towards digital asset management[3] - The company’s gross profit for Fiscal 2025 was $5.2 million, slightly up from $5.2 million in the previous year, indicating stable gross margins despite revenue decline[11]