State Ledger
Company profile

Forward Industries, Inc. CIK 38264

Ticker
FWDI (Nasdaq)
Industry
Finance Services
Headquarters
Austin, TX 78701
Fiscal year end
2025 (FY)
Market Data
Close
$7.20
Change
-$0.15
Change %
-2.04%
Volume
107,714

FWDI · trading date Oct 12, 2026 · previous close $7.35 · source: Alpaca (IEX feed, not consolidated full-market data).

Key Financials
Revenue
$18.19M
Net income
-$166.97M
Total assets
$1.47B
Total liabilities
$4.82M
Stockholders' equity
$1.47B
Cash & equivalents
$38.17M
Operating income
-$8.39M
Operating cash flow
-$4.50M
Capital expenditures
$25.8K

Fiscal year 2025, via 10-K filed 2025-12-11. A dash means this figure wasn't reported in the source filing under a field State Ledger recognizes - not that the value is zero.

Financial Performance
Operating margin
-46.1%
Net margin
-918.1%
Free cash flow
-$4.53M
Free cash flow margin
-24.9%
Liabilities / assets
0.3%
Equity / assets
99.7%
CapEx / revenue
0.1%
Operating cash flow / net income
0.03×

Derived from the fiscal year 2025 figures above. These metrics are mathematical calculations and do not represent a rating or assessment of the company.

Financial History
Fiscal yearRevenueNet incomeAssetsLiabilitiesEquity
2025 $18.19M -$166.97M $1.47B $4.82M $1.47B
2024 $19.99M -$1.95M $14.77M $11.80M $2.97M
2023 $36.69M -$3.74M $17.39M $14.77M $2.62M
2022 $38.21M -$1.38M $20.94M $14.67M $6.27M
2021 $39.02M $523.8K $19.86M $12.41M $7.44M
Company Details
SIC code
6199
State of incorporation
TX
Active filer
Yes
Most recent SEC filing
Form 8-K
2026-09-15
Financials filed via
Form 10-K
filed 2025-12-11

"Most recent SEC filing" may differ from the filing used for the financial figures above.

Location
Austin, TX 78701
111 CONGRESS AVENUE
Data & Methodology

SEC EDGAR submissions API (identity, collected Sep 19, 2026, 15:11 UTC) and SEC XBRL Company Facts API (financials, collected Sep 26, 2026, 15:54 UTC) · figures as originally filed, not restated · a dash always means a value wasn't reported, never a real zero.

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