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Forward Industries (FWDI) is a Information Technology company in the Russell 2000. Latest news and coverage below.
| FY2016Sep 2016 | FY2017Sep 2017 | FY2018Sep 2018 | FY2019Sep 2019 | FY2020Sep 2020 | FY2021Sep 2021 | FY2022Sep 2022 | FY2023Sep 2023 | FY2024Sep 2024 | FY2025Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $27.5M | $24.8M | $34.5M | $37.4M | $34.5M | $39.0M | $38.2M | $36.7M | $20.0M | $18.2M |
| Growth (year over year) | −8.4% | −9.9% | +39.3% | +8.4% | −7.8% | +13.2% | −2.1% | −4.0% | −45.5% | −9.0% |
| Gross profit | $5.08M | $4.19M | $6.57M | $6.58M | $6.64M | $8.13M | $8.80M | $8.36M | $5.18M | $5.19M |
| Gross margin | 18.5% | 16.9% | 19.0% | 17.6% | 19.3% | 20.8% | 23.0% | 22.8% | 25.9% | 28.5% |
| Operating income | $617.0K | $598.5K | $260.7K | −$3.10M | −$1.98M | −$765.0K | $588.5K | $159.7K | −$2.15M | −$8.39M |
| Operating margin | 2.2% | 2.4% | 0.8% | −8.3% | −5.7% | −2.0% | 1.5% | 0.4% | −10.8% | −46.1% |
| Net income | $606.6K | $579.3K | $1.38M | −$3.60M | −$1.78M | $523.8K | −$1.38M | −$3.74M | −$1.95M | −$167.0M |
| Net margin | 2.2% | 2.3% | 4.0% | −9.6% | −5.1% | 1.3% | −3.6% | −10.2% | −9.8% | −918.1% |
| EPS (diluted) | $0.70 | $0.70 | $1.50 | −$3.80 | −$1.90 | $0.50 | −$1.40 | −$33.90 | −$1.77 | −$24.59 |
| Balance sheet | ||||||||||
| Cash and equivalents | $4.76M | $4.62M | $4.37M | $3.09M | $2.92M | $1.41M | $2.58M | $2.82M | $2.78M | $38.2M |
| Total assets | $12.4M | $13.2M | $19.2M | $16.1M | $19.4M | $19.9M | $20.9M | $17.4M | $14.8M | $1.47B |
| Total liabilities | $4.22M | $4.22M | $8.13M | $8.38M | $12.8M | $12.4M | $14.7M | $14.8M | $11.8M | $4.82M |
| Long-term debt | — | $0 | $54.3K | $0 | $530.0K | — | — | — | — | — |
| Shareholders' equity | $8.17M | $8.93M | $11.1M | $7.71M | $6.58M | $7.44M | $6.27M | $2.62M | $2.97M | $1.47B |
| Cash flow | ||||||||||
| Operating cash flow | $768.3K | −$137.6K | $956.5K | −$1.97M | −$262.9K | −$528.3K | $1.53M | $1.04M | $519.8K | −$4.50M |
| Capital expenditure | $48.1K | $0 | $55.9K | $33.1K | $68.5K | $67.2K | $169.6K | $136.1K | $65.2K | $25.8K |
| Free cash flow | $720.2K | −$137.6K | $900.6K | −$2.00M | −$331.4K | −$595.5K | $1.37M | $904.9K | $454.6K | −$4.53M |
| Dividends paid | $0 | — | — | — | — | — | — | — | — | — |
| Q4 FY24†Sep 2024 | Q1 FY25Dec 2024 | Q2 FY25Mar 2025 | Q3 FY25Jun 2025 | Q4 FY25†Sep 2025 | Q1 FY26Dec 2025 | Q2 FY26Mar 2026 | Q3 FY26Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $2.73M | $4.62M | $3.12M | $2.49M | $7.95M | $21.4M | $13.0M | $10.8M |
| Growth (year over year) | −67.8% | −35.3% | −38.4% | −50.5% | +190.9% | +363.5% | +315.0% | +332.1% |
| Gross profit | $904.1K | $1.13M | −$178.8K | −$621.0K | $4.86M | $16.8M | $9.07M | $6.70M |
| Gross margin | 33.1% | 24.5% | −5.7% | −24.9% | 61.1% | 78.6% | 70.0% | 62.2% |
| Operating income | −$690.7K | −$898.0K | −$1.82M | −$2.56M | −$3.11M | −$583.6M | −$284.1M | −$70.3M |
| Operating margin | −25.3% | −19.4% | −58.3% | −102.6% | −39.2% | −2722.8% | −2191.9% | −651.8% |
| Net income | −$643.6K | −$708.1K | −$1.45M | −$850.0K | −$164.0M | −$585.7M | −$283.1M | −$69.0M |
| Net margin | −23.6% | −15.3% | −46.5% | −34.1% | −2063.6% | −2732.2% | −2184.1% | −639.7% |
| EPS (diluted) | $2.29 | −$0.64 | −$1.32 | −$0.77 | −$21.86 | −$5.91 | −$2.98 | −$0.80 |
| Balance sheet | ||||||||
| Cash and equivalents | $2.78M | $2.34M | $1.80M | $1.26M | $38.2M | $25.4M | $16.6M | $11.0M |
| Total assets | $14.8M | $13.5M | $12.3M | $8.29M | $1.47B | $892.9M | $608.5M | $602.5M |
| Total liabilities | $11.8M | $11.2M | $8.76M | $4.94M | $4.82M | $12.1M | $57.1M | $128.3M |
| Shareholders' equity | $2.97M | $2.28M | $3.58M | $3.35M | $1.47B | $880.9M | $551.5M | $474.2M |
| Cash flow | ||||||||
| Operating cash flow | $467.2K | −$434.3K | −$537.6K | −$1.23M | −$2.30M | −$7.93M | −$4.80M | −$3.35M |
| Capital expenditure | $15.1K | $5.42K | $1.43K | $18.9K | −$3 | $0 | $3.36K | $0 |
| Free cash flow | $452.1K | −$439.7K | −$539.0K | −$1.25M | −$2.30M | −$7.93M | −$4.80M | −$3.35M |
| Share buybacks | — | $0 | $0 | $0 | — | $10.9M | $47.1M | $11.8M |
From Forward Industries's 10-K and 10-Q filings with the SEC; its fiscal year ends in September. Each period shows the latest figure the company has reported for it, including restatements. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
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