Forward Industries, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-69.0M | $-283.1M | $-585.7M | $-164.0M | $-850.0K | $-1.5M | $-708.1K | $-643.6K |
| Depreciation & Amortization | $20.8K | $23.3K | $25.6K | $82.7K | $83.0K | $82.7K | $83.7K | $83.5K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | $53.0K | $53.0K | $54.0K |
| Stock-Based Compensation | $3.1M | $797.9K | $17.2K | $2.8M | $39.3K | $26.1K | $20.3K | $20.1K |
| Net Cash from Operating Activities | $-3.4M | $-4.8M | $-7.9M | $-2.3M | $-1.2M | $-537.6K | $-434.3K | $467.2K |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $3.4K | $0 | $-3 | $18.9K | $1.4K | $5.4K | $15.1K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-55.8M | $3.2M | $-1.1M | $-901.2M | $-218.9K | $-1.4K | $-5.4K | $-15.1K |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $11.8M | $47.1M | $10.9M | — | $0 | $0 | $0 | — |
| Net Cash from Financing Activities | $53.5M | $-7.1M | $-3.8M | $940.4M | $911.1K | $0 | $0 | $0 |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | $-3.4M | $-4.8M | $-7.9M | $-2.3M | $-1.2M | $-539.0K | $-439.7K | $452.1K |