Forward Industries, Inc. (FWDI) income statement
NASDAQ · Financial Services · Asset Management - Cryptocurrency · 60 employees · CEO Michael D. Pruitt
- Price
- $6.35 -8.50%
- Market cap
- $484M
- Enterprise value
- $592M
- Last report
- Q3 '26 filed 2026-08-12
- Next report
- 2026-12-10 EPS est. $0.02
Forward Industries, Inc. (FWDI) reported revenue of $10.8M for Q3 '26 (+332.1% year on year), operating income of -$70.3M (-651.8% of revenue) and net income of -$69M. Over the last four quarters revenue was $53.1M.
Income statement
| Income statement | Trend | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.09M | $7.15M | $5.07M | $7.89M | $7.33M | $4.62M | $3.12M | $2.49M | $7.95M | $21.4M | $13M | $10.8M | |
| Cost of revenue | $1.98M | $5.51M | $3.74M | $6.28M | $5.97M | $3.49M | $3.3M | $3.12M | $3.09M | $4.59M | $3.89M | $4.08M | |
| Gross profit | $3.11M | $1.64M | $1.33M | $1.61M | $1.35M | $1.13M | -$179K | -$621K | $4.86M | $16.8M | $9.07M | $6.7M | |
| Sales & marketing | -$511K | $369K | $206K | $350K | $336K | $160K | $148K | $140K | $582K | $535K | $570K | $639K | |
| General & administrative | $1.63M | $1.65M | $1.74M | $1.64M | $1.45M | $1.65M | $1.5M | $1.8M | $4.66M | $3.25M | $3.58M | $1.03M | |
| Other operating expenses | $0 | $687 | $0 | $0 | $200K | $0 | $0 | $0 | $924K | $3.44M | $2.48M | $75.3M | |
| Operating expenses | $1.12M | $2.02M | $1.95M | $1.99M | $1.98M | $1.81M | $1.64M | $1.94M | $6.17M | $7.23M | $6.63M | $77M | |
| Operating income | $1.99M | -$380K | -$621K | -$382K | -$631K | -$673K | -$1.82M | -$2.56M | -$1.31M | $9.62M | $2.44M | -$70.3M | |
| Interest income | $11.8K | $17.5K | $18.7K | $20.2K | $22.5K | $15.6K | $12.9K | $6.96K | $35.2K | $677K | $191K | $72.2K | |
| Interest expense | $24K | $19K | $17K | $14.5K | $12.2K | $12K | $11.8K | $12.1K | $13.2K | $0 | $59.2K | $517K | |
| Other non-operating income (gains on investments, FX ...) | -$48K | -$18.2K | -$10.9K | -$19K | -$22.6K | $213K | -$11.4K | -$168K | $163M | $0 | $286M | $427K | |
| Total non-operating income | $24K | -$854 | -$6.11K | $4.51K | $10.3K | -$225K | -$451 | $155K | -$163M | -$593M | -$286M | -$427K | |
| Income before tax | $2.02M | -$381K | -$627K | -$377K | -$621K | -$898K | -$1.82M | -$2.4M | -$164M | -$583M | -$284M | -$70.7M | |
| Income tax | $20K | $0 | $0 | $0 | $22.9K | $0 | $0 | $0 | $20.4K | $2.69M | -$875K | -$1.73M | |
| Net income | -$1.9M | -$354K | -$553K | -$400K | -$644K | -$708K | -$1.45M | -$850K | -$164M | -$586M | -$283M | -$69M | |
| EPS (basic) | -$0.19 | -$0.04 | -$0.06 | -$0.04 | -$0.06 | -$0.06 | -$0.13 | -$0.08 | -$2.19 | -$5.91 | -$2.98 | -$0.80 | |
| EPS (diluted) | -$0.19 | -$0.04 | -$0.06 | -$0.04 | -$0.06 | -$0.06 | -$0.13 | -$0.08 | -$2.19 | -$5.91 | -$2.98 | -$0.80 | |
| Shares (basic, weighted) | 10.1M | 10.1M | 10.1M | 11M | 11M | 11M | 11M | 11.1M | 67.9M | 99.1M | 94.9M | 86.7M | |
| Shares (diluted, weighted) | 10.1M | 10.1M | 10.1M | 11M | 11M | 11M | 11M | 11.1M | 67.9M | 99.1M | 94.9M | 86.7M | |
| Depreciation & amortization | $81K | $81.4K | $84.5K | $82.5K | $83.7K | $83.9K | $82.7K | $83K | $82.7K | $25.6K | $23.3K | $20.8K | |
| EBITDA | $2.12M | -$281K | -$526K | -$280K | -$525K | -$802K | -$1.73M | -$2.31M | -$164M | $9.64M | -$284M | -$70.7M |
| Income statement | Trend | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.5M | $24.8M | $34.5M | $37.4M | $34.5M | $39M | $38.2M | $36.7M | $30.2M | $18.2M | |
| Cost of revenue | $22.4M | $20.6M | $27.9M | $30.8M | $27.8M | $30.9M | $29.4M | $28.3M | $24M | $13M | |
| Gross profit | $5.08M | $4.19M | $6.57M | $6.58M | $6.64M | $8.13M | $8.8M | $8.36M | $6.21M | $5.19M | |
| Sales & marketing | $1.89M | $1.5M | $1.78M | $1.97M | $1.95M | $2.5M | $1.48M | $1.66M | $1.42M | $1.03M | |
| General & administrative | $2.57M | $2.09M | $4.53M | $7.71M | $5.66M | $6.4M | $6.73M | $6.54M | $6.52M | $9.6M | |
| Other operating expenses | $0 | $0 | -$22.9K | -$49.8K | -$19.7K | -$4.57K | $0 | $0 | $200K | $924K | |
| Operating expenses | $4.46M | $3.59M | $6.31M | $9.68M | $7.61M | $8.9M | $8.21M | $8.2M | $8.14M | $11.6M | |
| Operating income | $617K | $598K | $261K | -$3.1M | -$967K | -$765K | $588K | $160K | -$1.93M | -$6.37M | |
| Interest income | $0 | $0 | $0 | $0 | $60.9K | $88.8K | $0 | $23.2K | $78.9K | $70.7K | |
| Interest expense | $0 | $0 | $115K | $201K | $175K | $172K | $123K | $104K | $62.7K | $49.1K | |
| Other non-operating income (gains on investments, FX ...) | $0 | $19.1K | -$487K | $310K | -$391K | -$1.46M | $12.6K | -$123K | -$70.5K | $163M | |
| Total non-operating income | -$10.4K | -$19.1K | $372K | -$511K | $216K | $1.29M | -$136K | $19K | $7.89K | -$163M | |
| Income before tax | $607K | $579K | $632K | -$3.61M | -$1.77M | $524K | $452K | $179K | -$1.92M | -$169M | |
| Income tax | $0 | $0 | -$747K | -$4.16K | $9.17K | $0 | $2.55K | $20K | $22.9K | $20.4K | |
| Net income | $607K | $579K | $1.38M | -$3.6M | -$1.78M | $524K | -$1.38M | -$3.74M | -$1.95M | -$167M | |
| EPS (basic) | $0.07 | $0.07 | $0.15 | -$0.38 | -$0.19 | $0.05 | -$0.14 | -$0.37 | -$0.18 | -$2.46 | |
| EPS (diluted) | $0.07 | $0.07 | $0.15 | -$0.38 | -$0.19 | $0.05 | -$0.14 | -$0.37 | -$0.18 | -$2.46 | |
| Shares (basic, weighted) | 8.52M | 8.73M | 9.26M | 9.53M | 9.58M | 9.95M | 10.1M | 10.1M | 11M | 67.9M | |
| Shares (diluted, weighted) | 8.68M | 8.82M | 9.35M | 9.53M | 9.58M | 10.4M | 10.1M | 10.1M | 11M | 67.9M | |
| Depreciation & amortization | $52.8K | $22.4K | $228K | $312K | $272K | $327K | $309K | $316K | $333K | $332K | |
| EBITDA | $670K | $640K | $785K | -$3.1M | -$1.32M | $1.02M | $885K | $599K | -$1.53M | -$169M |
Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in USD.
Revenue, operating income and growth
quarterlyMargins
quarterlyCosts as % of revenue
quarterlyThe other statements
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-Q 2025-12-31, 10-K 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-Q 2024-12-31, 10-K 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02