Financial Data and Key Metrics Changes - Revenue in Q1 2026 increased more than four times to $21.4 million, compared to $4.6 million in Q1 2025 [16] - Gross margin increased significantly to 78.6% in Q1 2026, compared to 24.5% in Q1 2025 [16] - Net loss for Q1 2026 was approximately $585.6 million, compared to a net loss of $0.7 million in Q1 2025, primarily due to a loss on digital assets [18] Business Line Data and Key Metrics Changes - Forward held approximately 6,962,501 Solana, with more than 99% staked, generating a staking yield between approximately 6.5% and 7.2% [12] - Fully diluted SOL per share increased from 0.0604 at the end of September 2025 to 0.0624 at the end of December 2025, representing a growth of roughly 13% [13][14] Market Data and Key Metrics Changes - Solana continues to lead across key metrics, including decentralized exchange trading volumes, active users, and developer engagement [6] - Institutional engagement has expanded significantly, with major asset managers like WisdomTree launching tokenized funds on Solana [7] Company Strategy and Development Direction - The company aims to build a permanent capital vehicle that participates directly in the growth of the Solana ecosystem, evolving beyond a treasury into an active value-generating business [5] - Forward Industries is focused on compounding SOL per share by participating directly in economic activities occurring on-chain [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the volatility in the market but emphasizes the importance of Solana's current performance and real-world applications [6] - The company believes that the opportunity in front of Solana is increasingly clear, with a focus on long-term growth [5] Other Important Information - Forward became one of the first public companies to have its SEC-registered shares live on a public blockchain, with FWDI now issued on Solana [8] - The company launched fwdSOL, a proprietary liquid staking token, representing approximately 25% of its SOL holdings [9] Q&A Session Summary Question: Thoughts on recent token price volatility - Management noted that SOL is down approximately 70% from its all-time high, which is typical in the crypto market, and emphasized maintaining a clean balance sheet [19][20] Question: Potential M&A framework - The company is looking for accretive businesses in both DAT and non-DAT M&A, with a focus on product market fit and scalable unit economics [23] Question: Importance of SOL per share as a KPI - SOL per share growth is considered the North Star KPI, with a target to consistently generate returns greater than the staking yield [24] Question: Capital allocation strategy in different market conditions - The company plans to be adaptive, focusing on balance sheet quality and potential M&A opportunities when trading at discounts [40][41] Question: Staking yields and network usage growth - Management clarified that increased validator participation does not impact staking yields, and they expect yields to increase as network activity grows [44][46] Question: Related party G&A expenses - Related party expenses are associated with the launch of the digital asset treasury strategy and are expected to decrease in the coming months [50]

This release corrects and replaces the press release issued by SOL Strategies Inc. on Feb 11, 2026 at 8:30 AM EST. The updated version reflects a correction in the opening paragraph where it should read financial results for the quarter ended December 31, 2025 on February 17, 2026 instead of March 17, 2026. The corrected press release follows in full below:Toronto, Ontario--(Newsfile Corp. - February 12, 2026) - SOL Strategies Inc. (CSE: HODL) (NASDAQ: STKE) ("SOL Strategies" or the "Company"), one of the ...

Core Insights - DeFi Development Corp. (Nasdaq: DFDV) has partnered with Solstice to utilize its YieldVault for onchain treasury management, marking DFDV as the first Nasdaq-listed company to adopt this delta-neutral yield infrastructure [1][2] Group 1: Partnership and Strategy - DFDV will allocate capital into Solstice's YieldVault, which employs strategies like funding rate arbitrage, hedged staking, and tokenized U.S. Treasury bills, with dynamic adjustments based on market conditions [2] - The partnership aims to generate non-directional yield while maintaining a conservative risk profile suitable for a public company treasury [2] Group 2: Institutional Focus and Security - Solstice's YieldVault is tailored for institutional users, with client assets settled off-exchange through regulated custodians such as Copper and Ceffu [3] - Vault balances are independently verified through bi-weekly overcollateralization attestations, with plans for daily attestations to enhance security [3][10] Group 3: Financial Impact and Incentives - The onchain yield from Solstice will support DFDV's growing SOL Per Share (SPS) holdings and operational expenses [4] - DFDV will also engage in Solstice's Flares program, which rewards ecosystem contributions with proportional allocations of Solstice's governance token, SLX [4] Group 4: Company Overview - DeFi Development Corp. has a treasury policy focused on accumulating SOL, providing investors with direct economic exposure to the asset while participating in the Solana ecosystem's growth [6] - The company operates its own validator infrastructure to generate staking rewards and is actively exploring decentralized finance (DeFi) opportunities [6]

Core Insights - DeFi Development Corp. has successfully established itself as a leading public company focused on accumulating and compounding Solana (SOL) assets, marking its first year of operation as a public treasury vehicle [1][2] Financial Performance - In nine months, DeFi Development Corp. raised approximately $378 million and surpassed 2 million SOL in treasury holdings [3] - The company ended 2025 as the top-performing crypto stock, achieving an impressive return of +853%, and ranked as the third-best-performing stock on Nasdaq [4] Strategic Developments - The company launched its own validator business and introduced innovative financial products, including a liquid staking token (dfdvSOL) and tokenized equity (DFDVx) [3] - DeFi Development Corp. led capital markets innovation in the Digital Asset Treasury sector with a $5 billion Equity Line of Credit (ELOC) and public warrants [3] Market Expansion and Community Engagement - The year in review highlighted the company's expansion into global markets and the launch of community and ecosystem validators in partnership with organizations like BONK and WIF [5] - The company participated in a Nasdaq Closing Bell ceremony with the Solana Foundation, showcasing its commitment to the Solana ecosystem [5] Future Guidance - DeFi Development Corp. introduced forward-looking guidance targeting 1.0 SOL Per Share (SPS) by December 2028, indicating its strategic vision for growth [5]

Core Insights - DeFi Development Corp. is the first US public company with a treasury strategy focused on accumulating and compounding Solana (SOL) [1] Group 1: Financial Performance - The Company reported a 6.2% increase in Solana per share (SPS), reaching 0.0743, which implies an annualized run-rate of approximately 24.6% [2] - As of January 1, 2026, the Company holds 2,221,329 SOL and equivalents, along with about $9 million in cash, stablecoins, and other tokens readily convertible to cash [2] - The average organic yield for Q4 2025 is estimated to be around 8.3% on an annualized basis, generated through staking, validator operations, and selective on-chain deployment [3] Group 2: Treasury Strategy - The Company has adopted a treasury policy that primarily allocates its reserves to SOL, providing investors with direct economic exposure to SOL while participating in the growth of the Solana ecosystem [6] - More than 15% of the Company's SOL treasury remains deployed on-chain, which is a core component of its treasury strategy [3] Group 3: Shareholder Engagement - The CEO emphasized the Company's commitment to disciplined execution and shareholder alignment, focusing on enhancing SOL per share while maintaining treasury integrity [4] - The Company repurchased 2,049,113 shares at an average price of $5.62 per share during Q4 [2] Group 4: Future Outlook - DeFi Development Corp. plans to provide additional details regarding its fourth-quarter and full-year 2025 results in upcoming periodic filings [5]

Core Insights - The company has announced a $100 million Solana-focused digital asset treasury strategy in partnership with Cube Group, aiming to leverage high-yield opportunities for sustainable growth [1][2][11] Group 1: Strategic Initiatives - The initiative positions the company at the forefront of institutional adoption within the Solana ecosystem, focusing on optimized entry points for long-term value creation [2][12] - The strategy is led by Cube Group, which has a proven track record in digital asset treasuries, and will manage custody, execution, and overall strategy for the company [3][4] - The company has filed a trademark application for "MULTI-DAT," indicating its strategic expansion into the digital asset sector, allowing for various financial activities including virtual currency transactions and investment portfolio oversight [5] Group 2: Digital Asset Treasury 2.0 Strategy - The strategy includes evaluating corporate treasury allocations into established digital assets to diversify holdings and enhance balance-sheet efficiency [8] - It explores participation in tokenized real-world assets to gain liquidity and transparency in a regulated environment [8] - The company plans to integrate regulated stablecoins for treasury management and cross-border activities, aiming to streamline operations and advance its core business [8] Group 3: Yield and Growth Model - The strategy aims for annualized SOL staking yields of 7-8%, with active management targeting yields of 8-20% [16] - The company emphasizes a non-dilutive growth model, utilizing Solana's staking mechanisms to enhance shareholder value without diluting existing shares [9][10] - The initiative is designed to generate superior risk-adjusted returns and contribute to the broader adoption of digital assets in mainstream finance [12]

kamino launches fixed-rate lending on solana exactly when coinbase tokenized stocks drop dec 17. treasury managers can't deploy $10m at variable 2-8% rates but they'll lock 4.5% for 180 days all day. basel iii lets banks hold stablecoins q1 2026. they need yield certainty. kamino built it. no token yet but sol ecosystem captures this flow. ...

"we've been adding many Solana based projects to our main app exchange allowing our users to have access and raise awareness for the Solana ecosystem."- @cryptocom https://t.co/2JYIqNb7KC ...

RT BSCN (@BSCNews)📣 Latest Solana News: December 9thA very busy December already for @Solana and its ecosystem...@asgardfi raises $2.2 million led by @robotventures, @FlashTrade launches a brand-new perps offering through @RemoraMarkets, a @Base bridge goes live, and @plumenetwork brings RWAs to $SOL.Catch up now ⬇️ ...

RT BSCN (@BSCNews)📣 Latest Solana News: December 9thA very busy December already for @Solana and its ecosystem...@asgardfi raises $2.2 million led by @robotventures, @FlashTrade launches a brand-new perps offering through @RemoraMarkets, a @Base bridge goes live, and @plumenetwork brings RWAs to $SOL.Catch up now ⬇️ ...