FORD · Forward Industries, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | FY 2024 | Q3 '24 | Q2 '24 | Q1 '24 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.96M | $21.44M | $2.49M | $3.12M | $6.62M | - | $7.89M | $7.83M | $7.15M | - |
| Cost of Revenue | $3.89M | $4.59M | $3.12M | $3.30M | $5.11M | - | $6.28M | $6.22M | $5.51M | - |
| Gross Profit | $9.07M | $16.85M | ($621.0K) | ($178.8K) | $1.50M | - | $1.61M | $1.61M | $1.64M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $3.58M | $3.25M | $1.80M | $1.50M | $1.68M | - | $1.64M | $1.78M | $1.65M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | - | $25.6K | - | - | $83.9K | - | - | - | $81.4K | - |
| Operating Income | ($284.09M) | ($583.64M) | ($2.56M) | ($1.82M) | ($708.3K) | - | ($381.6K) | ($539.6K) | ($380.3K) | - |
| Interest Expense | $59.2K | $0 | $12.1K | $11.8K | $12.0K | - | $14.5K | $17.0K | $19.0K | - |
| Income Tax | ($875.4K) | $2.69M | $0 | $0 | $0 | - | $0 | $0 | $0 | - |
| Net Income | ($283.08M) | ($585.65M) | ($850.0K) | ($1.45M) | ($708.1K) | - | ($399.6K) | ($553.2K) | ($354.2K) | - |
| EPS - Basic | ($2.98) | ($5.91) | ($0.77) | ($1.32) | ($0.64) | - | ($0.36) | ($0.05) | ($0.04) | - |
| EPS - Diluted | ($2.98) | ($5.91) | ($0.77) | ($1.32) | ($0.64) | - | ($0.36) | ($0.05) | ($0.04) | - |
Balance Sheet
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | FY 2024 | Q3 '24 | Q2 '24 | Q1 '24 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16.63M | $25.39M | $38.17M | $1.80M | $2.61M | - | $3.02M | $2.26M | $3.03M | - |
| Accounts Receivable | $2.42M | $2.99M | $1.64M | $1.78M | $4.86M | - | $5.61M | $6.48M | $6.53M | - |
| Inventory | - | - | - | - | $753.0K | - | $490.0K | $308.9K | $405.2K | - |
| Accounts Payable | $274.5K | $382.6K | $433.0K | $137.4K | $195.0K | - | $129.1K | $147.5K | $392.2K | - |
| Current Assets | $21.62M | $62.95M | $41.22M | $7.67M | $8.62M | - | $9.64M | $9.51M | $10.49M | - |
| Total Assets | $608.51M | $892.95M | $1.47B | $12.34M | $13.49M | - | $14.77M | $15.19M | $16.34M | - |
| Current Liabilities | $54.58M | $10.08M | $2.72M | $6.45M | $8.79M | - | $9.37M | $10.80M | $11.31M | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $57.06M | $12.08M | $4.82M | $8.76M | $11.21M | - | $11.80M | $13.42M | $14.03M | - |
| Stockholders' Equity | $551.46M | $880.86M | $1.47B | $3.58M | $2.28M | - | $2.97M | $1.77M | $2.31M | - |
| Retained Earnings | ($1.06B) | ($772.26M) | ($186.61M) | ($21.80M) | ($20.35M) | - | ($19.64M) | ($18.59M) | ($18.04M) | - |
Cash Flow
| Line item | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | FY 2024 | Q3 '24 | Q2 '24 | Q1 '24 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | ($7.93M) | - | - | ($410.1K) | ($353.3K) | - | - | $115.8K | ($670.4K) |
| Investing Cash Flow | - | ($1.08M) | - | - | ($5.4K) | - | - | - | ($19.5K) | - |
| Financing Cash Flow | - | ($3.77M) | - | - | $0 | - | - | - | ($250.0K) | - |
| CapEx | - | $0 | - | - | $5.4K | - | - | - | $19.5K | - |
| Free Cash Flow | - | ($7.93M) | - | - | ($415.6K) | - | - | - | $96.3K | - |
Ratios
| Metric | Q2 '26 | Q1 '26 | Q3 '25 | Q2 '25 | Q1 '25 | FY 2024 | Q3 '24 | Q2 '24 | Q1 '24 | FY 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 70.0% | 78.6% | -24.9% | -5.7% | 22.7% | - | 20.4% | 20.5% | 23.0% | - |
| Operating margin | -2191.9% | -2722.8% | -102.6% | -58.3% | -10.7% | - | -4.8% | -6.9% | -5.3% | - |
| EBITDA margin | - | -2722.7% | - | - | -9.4% | - | - | - | -4.2% | - |
| Net margin | -2184.1% | -2732.2% | -34.1% | -46.5% | -10.7% | - | -5.1% | -7.1% | -5.0% | - |
| Free cash flow margin | - | -37.0% | - | - | -6.3% | - | - | - | 1.3% | - |
| FCF / Net income | - | 0.01 | - | - | 0.59 | - | - | - | -0.27 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 27.7% | 15.2% | 72.1% | 47.9% | 25.4% | - | 20.8% | 22.7% | 23.1% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -46.5% | -65.6% | -0.1% | -11.8% | -5.2% | - | -2.7% | -3.6% | -2.2% | - |
| Return on equity | -51.3% | -66.5% | -0.1% | -40.6% | -31.1% | - | -13.5% | -31.3% | -15.3% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.40 | 6.24 | 15.14 | 1.19 | 0.98 | - | 1.03 | 0.88 | 0.93 | - |
| Quick ratio | 0.40 | 6.24 | 15.14 | 1.19 | 0.90 | - | 0.98 | 0.85 | 0.89 | - |
| Cash ratio | 0.30 | 2.52 | 14.01 | 0.28 | 0.30 | - | 0.32 | 0.21 | 0.27 | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -4800.6x | - | -211.6x | -153.9x | -59.2x | - | -26.4x | -31.8x | -20.0x | - |
| Equity multiplier | 1.10 | 1.01 | 1.00 | 3.45 | 5.92 | - | 4.98 | 8.58 | 7.07 | - |
| Liabilities / Assets | 0.09 | 0.01 | 0.00 | 0.71 | 0.83 | - | 0.80 | 0.88 | 0.86 | - |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | 0.02 | 0.00 | 0.25 | 0.49 | - | 0.53 | 0.52 | 0.44 | - |
| Inventory turnover | - | - | - | - | 6.79 | - | 12.82 | 20.14 | 13.60 | - |
| Days sales outstanding | 68d | 51d | 239d | 208d | 268d | - | 260d | 302d | 333d | - |
| Days inventory outstanding | - | - | - | - | 54d | - | 28d | 18d | 27d | - |
| Days payable outstanding | 26d | 30d | 51d | 15d | 14d | - | 8d | 9d | 26d | - |
| Cash conversion cycle | - | - | - | - | 308d | - | 281d | 312d | 334d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 315.0% | 224.0% | -68.4% | -60.1% | -7.5% | - | -22.1% | -26.5% | -33.8% | - |
| Revenue CAGR (3y) | 6.7% | 25.6% | -38.2% | -32.9% | -17.1% | - | -7.5% | -2.3% | -9.7% | - |
| Revenue CAGR (5y) | 9.1% | 17.1% | -23.5% | -17.0% | -4.6% | - | -4.5% | -0.9% | 2.5% | - |
| Gross profit growth (YoY) | - | 1022.5% | - | - | -8.6% | - | -11.9% | 6.3% | -14.4% | - |
| Operating income growth (YoY) | -15494.3% | -82297.7% | -570.8% | -237.6% | -86.2% | - | 26.9% | 36.1% | 18.5% | - |
| Net income growth (YoY) | -19401.2% | -82611.5% | -112.7% | -162.4% | -99.9% | - | 25.6% | 36.5% | 17.7% | - |
| EPS growth (YoY) | -125.8% | -823.4% | -113.9% | -2540.0% | -1500.0% | - | -620.0% | 44.4% | 0.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | -1808.1% | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 15309.0% | 38546.2% | 49448.6% | 102.2% | -1.5% | - | 13.4% | -64.6% | -60.5% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-09-30.
Business segments
$18.19M totalDesign Segment$13.61M · 74.8%
Digital Assets Segment$4.58M · 25.2%
Peer comparison
Same SIC group: Finance Services
Comparing Forward Industries against the 5 most active filers in the same SIC group.