Forward Industries, Inc. (FWDI)

Forward Industries Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Sep 30, 2025	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021
Revenue	35	18.19	19.99	72.75	38.21	39.02
Revenue Growth (YoY)	79.72%	-9.02%	-72.52%	90.41%	-2.09%	13.18%
Cost of Revenue	14.09	13	14.81	43.87	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	1.8	2.95	0.2	-	-	-
Total Operating Expenses	17.86	13.58	7.33	8.2	8.21	8.9
Operating Income	-591.13	-8.39	-2.15	0.16	0.59	-0.76
Interest Income	0.73	0.07	0.08	0.02	-0.12	0.09
Interest Expense	-0.04	-0.05	-0.06	-0.1	-	-0.17
Other Non-Operating Income (Expense)	-592.6	-159.37	0.01	-0.1	0.01	-1.37
Total Non-Operating Income (Expense)	-591.9	-159.35	0.02	-0.18	-0.11	-1.46
Pretax Income	-751.13	-169.07	-2.14	0.18	0.45	0.52
Provision for Income Taxes	2.71	0.02	0.02	0.02	0	-
Net Income	-751.95	-167	-1.95	-3.74	-1.38	0.52
Net Income Attributable to Preferred Dividends	-0.03	-0.03	-	-	-	-
Earnings From Discontinued Operations	2.7	2.11	0.22	-3.9	-1.83	-
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)	2741.89%	516.78%	-	7.94%	-2.32%	9.00%
EPS (Basic)	-29.34	-24.59	-1.77	-3.39	-1.40	0.50
EPS (Diluted)	-29.34	-24.59	-1.77	-3.39	-1.40	0.50
Free Cash Flow	-12.04	-4.53	0.45	0.9	1.37	-0.6
Free Cash Flow Growth	-	-	-49.76%	-33.71%	-	-
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%	11.50%	23.03%	20.85%
Operating Margin	-1689.03%	-46.14%	-10.76%	0.22%	1.54%	-1.96%
Profit Margin	-2153.94%	-929.70%	-10.84%	0.22%	1.18%	1.34%
FCF Margin	-34.41%	-24.90%	2.27%	1.24%	3.57%	-1.53%
EBITDA	-590.86	-8.06	-1.82	0.48	0.9	-0.44
EBITDA Margin	-1688.25%	-44.32%	-9.10%	0.65%	2.35%	-1.12%
EBIT	-591.13	-8.39	-2.15	0.16	0.59	-0.76
EBIT Margin	-1689.03%	-46.14%	-10.76%	0.22%	1.54%	-1.96%
Effective Tax Rate	-0.36%	-0.01%	-1.07%	11.20%	0.56%	0.00%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.