Forward Industries posts $69 million loss in Q3 on Solana writedown

FWDI Forward Industries Inc

$5.53 -2.98%

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1. 1Forward Industries (FWDI) reported a net loss of $69 million ($0.80 per share) for its fiscal third quarter, driven by a write-down of its Solana (SOL) financial assets.
2. 2A $49.8 million digital-asset loss and a $15.2 million impairment made up the bulk of the hit, while its SOL holdings grew to more than 7.55 million tokens as of June 30.
3. 3The company attributed the decline to unrealized losses under the U.S. GAAP fair-value measurement, noting it narrowed from a $283.1 million loss in the prior quarter.

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