Forward Industries, Inc.
Financial highlights
| Metric | FY 09/30/25 | FY 09/30/24 | FY 09/30/23 | FY 09/30/22 | FY 09/30/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $18.2M | $29.6M | $36.1M | $38.2M | $39.0M |
| Operating income | -$8.4M | -$2.2M | $159,658 | $588,470 | -$764,999 |
| Interest expense | $49,143 | $62,662 | $104,201 | $123,411 | $171,957 |
| Pretax income | -$169.1M | -$2.1M | $178,664 | $452,447 | $523,805 |
| Income tax expense | $20,404 | $22,947 | $20,006 | $2,554 | $0 |
| Net income | -$167.0M | -$2.0M | -$3.7M | -$1.4M | $523,805 |
| Balance Sheet | |||||
| Current assets | $41.2M | $9.6M | $11.4M | $14.3M | $12.8M |
| Total assets | $1.5B | $14.8M | $17.4M | $20.9M | $19.9M |
| Current liabilities | $2.7M | $9.4M | $10.8M | $10.0M | $7.2M |
| Total liabilities | $4.8M | $11.8M | $14.8M | $14.7M | $12.4M |
| Stockholders' equity | $1.5B | $3.0M | $2.6M | $6.3M | $7.4M |
| Cash Flow Statement | |||||
| Cash from operations | -$4.5M | $519,770 | $1.0M | $1.5M | -$528,311 |
| Depreciation and amortization | $332,225 | $331,927 | $315,940 | $309,239 | $327,290 |
| Stock-based compensation | $2.9M | $101,360 | $86,491 | $201,235 | $68,855 |
| Capital expenditure | $25,774 | $65,154 | $136,082 | $169,631 | $67,207 |
| Free cash flow | -$4.5M | $454,616 | $904,946 | $1.4M | -$595,518 |
| Impairments | — | $200,000 | — | — | $0 |
Shares outstanding 74.7M · Free float 79.1%
Annual filing data through FY ended September 30, 2025; float as of July 8, 2026.