FORWARD INDUSTRIES, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $18.2M | $20.0M | $36.7M | $38.2M | $39.0M | $34.5M | $37.4M | $34.5M |
| Cost of Revenue | $13.0M | $14.8M | $28.3M | $29.4M | $30.9M | $27.8M | $30.8M | $27.9M |
| Gross Profit | $5.2M | $5.2M | $8.4M | $8.8M | $8.1M | $6.6M | $6.6M | $6.6M |
| Gross Margin | 28.5% | 25.9% | 22.8% | 23.0% | 20.8% | 19.3% | 17.6% | 19.0% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $9.6M | $6.4M | $6.5M | $6.7M | $6.4M | $5.7M | $7.7M | $4.5M |
| Operating Income | $-8.4M | $-2.2M | $159.7K | $588.5K | $-765.0K | $-2.0M | $-3.1M | $260.7K |
| Operating Margin | -46.1% | -10.8% | 0.4% | 1.5% | -2.0% | -5.7% | -8.3% | 0.8% |
| Interest Expense | $49.1K | $62.7K | $104.2K | $123.4K | $172.0K | $175.0K | $201.0K | $115.4K |
| Pretax Income | $-169.1M | $-2.1M | $178.7K | $452.4K | $523.8K | $-1.8M | $-3.6M | $632.3K |
| Income Tax Expense | $20.4K | $22.9K | $20.0K | $2.6K | $0 | $9.2K | $-4.2K | $-747.0K |
| Net Income | $-167.0M | $-2.0M | $-3.7M | $-1.4M | $523.8K | $-1.8M | $-3.6M | $1.4M |
| Net Margin | -918.1% | -9.8% | -10.2% | -3.6% | 1.3% | -5.1% | -9.6% | 4.0% |
| EPS (Basic) | $-24.59 | $-0.30 | $-0.57 | $-0.02 | $0.01 | $-0.03 | $-0.06 | $0.03 |
| EPS (Diluted) | $-24.59 | $-0.30 | $-0.57 | $-0.02 | $0.01 | $-0.03 | $-0.06 | $0.03 |
| Shares Outstanding (Basic) | 6.8M | 6.6M | 6.6M | 60.4M | 59.7M | 57.5M | 57.2M | 55.6M |
| Shares Outstanding (Diluted) | 6.8M | 6.6M | 6.6M | 61.2M | 62.7M | 57.5M | 57.2M | 56.1M |
| Dividends Per Share | — | — | — | — | — | — | — | — |