Forward Industries, Inc.
Forward Industries, Inc. (Nasdaq: FWDI) operates through its wholly-owned subsidiaries as a design company serving top-tier medical and technology customers, complemented by a significant digital asset treasury strategy. The company's website is www.forwardindustries.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Forward Industries, Inc. does
In the company’s own words
Forward Industries, Inc. (Nasdaq: FWDI) operates through its wholly-owned subsidiaries as a design company serving top-tier medical and technology customers, complemented by a significant digital asset treasury strategy. The company's website is www.forwardindustries.com.
The company's design business provides comprehensive hardware and software product design and engineering services across diverse industries including medical devices, smart displays, beverage vending systems, enterprise and mobile software applications, lighting, security systems, cameras, wearables, and vehicle controls. Services span the full development lifecycle from product concept through design, engineering, prototyping, and final design for manufacturing. In-house capabilities encompass electrical engineering, mechanical engineering, software engineering, industrial design, user experience and user interface design, optical engineering, program management, IoT system architecture, and IT support. The design segment operates as a service-based business with minimal supplier requirements, sourcing primarily from United States-based vendors.
In September 2025, Forward Industries announced a strategic pivot toward a digital asset treasury strategy, establishing Solana (SOL) as its primary treasury reserve asset. The company made initial liquid SOL purchases of approximately 6.8 million tokens at an average price of $232 per SOL, representing approximately $1.58 billion in aggregate investment. Under its Treasury Policy, the company intends to acquire SOL through market purchases and strategic partnerships, stake holdings via validators to generate incremental revenue, and participate in decentralized finance protocols and onchain strategies. The company engaged Galaxy Digital Capital Management LP as its Asset Manager and Galaxy Digital LP as its Service Provider to support implementation and ongoing management of this strategy.
As of November 30, 2025, Forward Industries employed approximately 60 full-time employees. The company was incorporated in 1961 and has evolved through multiple strategic transitions, including the 2018 acquisition of Intelligent Product Solutions and the 2020 acquisition of Kablooe Design. In May 2025, the company completed the sale of its original equipment manufacturer distribution segment and divested its Switzerland and UK subsidiaries. The company discontinued its retail distribution segment in July 2023.
Company details
- Sector
- Financials
- Industry
- Finance Services
- Headquarters
- AUSTIN, TX
- Fiscal year end
- September
- CIK
- 38264
- SIC
- 6199
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Forward Industries, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Forward Industries, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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