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	Mar 31, 2026	Sep 30, 2025	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021
Revenue	44.84	18.19	19.99	72.75	38.21	39.02
Revenue Growth (YoY)	155.84%	-9.02%	-72.52%	90.41%	-2.09%	13.18%
Cost of Revenue	14.68	13	14.81	28.32	29.41	30.89
Gross Profit	30.16	5.19	5.18	8.36	8.8	8.13
Selling, General & Admin	21.05	10.63	7.13	8.2	8.21	8.9
Other Operating Expenses	680.15	2.95	0.2	-	-	-
Total Operating Expenses	701.2	13.58	7.33	8.2	8.21	8.9
Operating Income	-873.4	-8.39	-2.15	0.16	0.59	-0.76
Interest Income	0.91	0.07	0.08	0.02	-0.12	0.09
Interest Expense	-0.08	-0.05	-0.06	-0.1	-	-0.17
Other Non-Operating Income (Expense)	202.1	-159.37	0.01	-0.1	0.01	-1.37
Total Non-Operating Income (Expense)	202.92	-159.35	0.02	-0.18	-0.11	-1.46
Pretax Income	-1,033	-169.07	-2.14	0.18	0.45	0.52
Provision for Income Taxes	1.83	0.02	0.02	0.02	0	-
Net Income	-1,034	-167	-1.95	-3.74	-1.38	0.52
Net Income Attributable to Preferred Dividends	-0.03	-0.03	-	-	-	-
Earnings From Discontinued Operations	1.55	2.11	0.22	-3.9	-1.83	-
Net Income to Common	-1,034	-167	-1.95	-3.74	-1.38	0.52
Shares Outstanding (Basic)	55	7	1	1	1	1
Shares Outstanding (Diluted)	55	7	1	1	1	1
Shares Change (YoY)	4872.13%	516.78%	-	7.94%	-2.32%	9.00%
EPS (Basic)	-31.00	-24.59	-1.77	-3.39	-1.40	0.50
EPS (Diluted)	-31.00	-24.59	-1.77	-3.39	-1.40	0.50
Shares Outstanding	76.31	86.15	1.1	1.01	1.01	1.01
Free Cash Flow	-16.28	-4.53	0.45	0.9	1.37	-0.6
Free Cash Flow Growth	-	-	-49.76%	-33.71%	-	-
Free Cash Flow Per Share	-0.30	-0.67	0.41	0.82	1.34	-0.57
Gross Margin	67.26%	28.54%	25.93%	11.50%	23.03%	20.85%
Operating Margin	-1947.97%	-46.14%	-10.76%	0.22%	1.54%	-1.96%
Profit Margin	-2308.61%	-929.70%	-10.84%	0.22%	1.18%	1.34%
FCF Margin	-36.31%	-24.90%	2.27%	1.24%	3.57%	-1.53%
EBITDA	-873.19	-8.06	-1.82	0.48	0.9	-0.44
EBITDA Margin	-1947.49%	-44.32%	-9.10%	0.65%	2.35%	-1.12%
EBIT	-873.4	-8.39	-2.15	0.16	0.59	-0.76
EBIT Margin	-1947.97%	-46.14%	-10.76%	0.22%	1.54%	-1.96%
Effective Tax Rate	-0.18%	-0.01%	-1.07%	11.20%	0.56%	0.00%

Updated May 14, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.