Forward Industries is a small company operating two distinct businesses: a product design services firm and a Solana-focused digital asset treasury. The design services business provides end-to-end hardware and software product design and engineering services to medical device and consumer/electronics customers, covering the full product development lifecycle — from concept through industrial design, electrical and mechanical engineering, software development, UX/UI, optical engineering, and design-for-manufacturing. Customers either hand off entire development programs or engage Forward for targeted support alongside their in-house teams. The design business generates revenue on a project basis, with costs predominantly being labor. In September 2025, Forward announced a new treasury strategy centered on acquiring and holding Solana (SOL), making an initial purchase of approximately $1.58B of SOL. Galaxy Digital serves as asset manager and operational support provider. Forward intends to stake the majority of its SOL holdings to earn staking rewards, participate in DeFi protocols, and pursue partnerships within the Solana ecosystem. Forward plans to fund ongoing SOL accumulation through equity, preferred stock, and debt issuances — similar to the model MicroStrategy employs for Bitcoin. The digital asset treasury now dominates the balance sheet and management attention, while the design services business operates in maintenance mode.