Forward Industries Income Statement

Financials in millions USD. Fiscal year is October - September.

Millions USD. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Revenue	35	18.19	19.99	36.69	38.21	39.02
Revenue Growth (YoY)	79.72%	-9.02%	-45.51%	-3.98%	-2.09%	13.18%
Cost of Revenue	14.09	13	14.81	28.32	29.41	30.89
Gross Profit	20.91	5.19	5.18	8.36	8.8	8.13
Selling, General & Admin	16.06	10.63	7.13	8.2	8.21	8.9
Other Operating Expenses	0.92	0.92	-	-	-	-
Operating Expenses	16.98	11.56	7.13	8.2	8.21	8.9
Operating Income	3.92	-6.37	-1.95	0.16	0.59	-0.76
Interest Expense	-0.04	-0.05	-0.06	-0.1	-0.12	-0.17
Interest & Investment Income	0.73	0.07	0.08	0.02	-	0.09
Currency Exchange Gain (Loss)	0.01	0.01	0.01	0	-0.01	-0.01
Other Non Operating Income (Expenses)	-720.91	-160.7	-0.02	0.03	0	0
EBT Excluding Unusual Items	-716.29	-167.04	-1.94	0.11	0.45	-0.85
Impairment of Goodwill	-1.8	-2.03	-0.2	-	-	-
Other Unusual Items	-	-	-	0.07	-	1.38
Pretax Income	-751.13	-169.07	-2.14	0.18	0.45	0.52
Income Tax Expense	2.71	0.02	0.02	0.02	0	-
Earnings From Continuing Operations	-753.84	-169.09	-2.17	0.16	0.45	0.52
Earnings From Discontinued Operations	1.92	2.11	0.22	-3.9	-1.83	-
Net Income	-751.92	-166.97	-1.95	-3.74	-1.38	0.52
Preferred Dividends & Other Adjustments	0.03	0.03	-	-	-	-
Net Income to Common	-751.95	-167	-1.95	-3.74	-1.38	0.52
Shares Outstanding (Basic)	31	7	1	1	1	1
Shares Outstanding (Diluted)	31	7	1	1	1	1
Shares Change (YoY)	2741.85%	516.78%	-	7.94%	-2.32%	8.97%
EPS (Basic)	-24.03	-24.59	-1.77	-3.39	-1.37	0.53
EPS (Diluted)	-24.03	-24.59	-1.77	-3.40	-1.39	0.50
Free Cash Flow	-12.02	-4.53	0.45	0.9	1.37	-0.6
Free Cash Flow Per Share	-0.38	-0.67	0.41	0.82	1.34	-0.57
Gross Margin	59.74%	28.54%	25.93%	22.80%	23.03%	20.85%
Operating Margin	11.21%	-35.00%	-9.76%	0.43%	1.54%	-1.96%
Profit Margin	-2148.52%	-918.23%	-9.76%	-10.18%	-3.61%	1.34%
Free Cash Flow Margin	-34.34%	-24.89%	2.27%	2.47%	3.57%	-1.53%
EBITDA	4.2	-6.03	-1.62	0.48	0.9	-0.44
EBITDA Margin	12.00%	-33.18%	-8.10%	1.30%	2.35%	-1.12%
D&A For EBITDA	0.27	0.33	0.33	0.32	0.31	0.33
EBIT	3.92	-6.37	-1.95	0.16	0.59	-0.76
EBIT Margin	11.21%	-35.00%	-9.76%	0.43%	1.54%	-1.96%
Effective Tax Rate	-	-	-	11.20%	0.56%	-
Revenue as Reported	-	-	-	36.69	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.