Forward Industries Inc. (FORD) Financial Statements (2024 and earlier)

Company Profile

Business Address 700 VETERANS MEMORIAL HWY, SUITE 100
HAUPPAUGE, NY 11788
State of Incorp. NY
Fiscal Year End September 30
Industry (SIC) 3089 - Plastics Products, Not Elsewhere Classified (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
MRQ
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,0273,1802,5761,4102,9253,093
Cash and cash equivalents3,0273,1802,5761,4102,9253,093
Receivables6,5356,9697,5438,7617,6026,695
Inventory, net of allowances, customer advances and progress billings4053343,8012,0631,2761,609
Inventory4053343,8012,0631,2761,609
Deferred rent asset     1319
Disposal group, including discontinued operation 136508    
Other undisclosed current assets392379418561406422
Total current assets:10,49511,37014,33712,79512,22211,838
Noncurrent Assets
Operating lease, right-of-use asset2,9163,0213,4283,7433,512 
Property, plant and equipment265274241168215243
Intangible assets, net (including goodwill)2,5992,6522,8653,0773,2903,431
Goodwill1,7591,7591,7591,7591,7592,182
Intangible assets, net (excluding goodwill)8408931,1061,3191,5311,249
Other noncurrent assets69696972117255
Other undisclosed noncurrent assets      327
Total noncurrent assets:5,8496,0166,6027,0617,1344,256
TOTAL ASSETS:16,34417,38620,93919,85619,35616,094
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:4955191,151528615695
Employee-related liabilities199178170
Accounts payable 519268 197315
Accrued liabilities117 722 1846
Other undisclosed accounts payable and accrued liabilities378 161329222164
Deferred revenue250297439188485220
Debt850   1,9832,955
Deferred compensation liability   252545834
Due to related parties7,7145,7343,6223,237
Other undisclosed current liabilities9,71210,0206497342,075355
Total current liabilities:11,30810,8369,9787,2088,8268,296
Noncurrent Liabilities
Long-term debt and lease obligation  1,1004,6505,1593,889 
Long-term debt, excluding current maturities  1,1001,4001,600530 
Liabilities, other than long-term debt2,7232,83445454561
Deferred compensation liability, classified   454545 
Deferred rent credit      61
Operating lease, liability2,7232,8343,2503,5593,359 
Other undisclosed noncurrent liabilities     1326
Total noncurrent liabilities:2,7233,9344,6955,2043,94787
Total liabilities:14,03114,77014,67312,41212,7738,383
Equity
Equity, attributable to parent, including:2,3132,6166,2667,4436,5837,711
Additional paid in capital20,25320,20220,11619,91419,58018,936
Accumulated deficit(18,041)(17,687)(13,950)(12,572)(13,095)(11,320)
Other undisclosed equity, attributable to parent1011011011019995
Total equity:2,3132,6166,2667,4436,5837,711
TOTAL LIABILITIES AND EQUITY:16,34417,38620,93919,85619,35616,094

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
Revenues33,03136,68842,33739,02234,47837,409
Cost of revenue(24,942)(28,324)(33,969)(30,888)(27,840)(30,828)
Gross profit:8,0888,3648,3688,1346,6396,581
Operating expenses(7,842)(8,205)(9,608)(8,899)(7,606)(9,678)
Other undisclosed operating loss     (1,015) 
Operating income (loss):246160(1,240)(765)(1,982)(3,097)
Nonoperating income (expense)630(13)(5)(3)(511)
Loss, foreign currency transaction, before tax     (3)(14)
Other nonoperating income (expense)630(13)(5)  
Interest and debt expense(95)(104)(123)1,185(175)(201)
Income (loss) from continuing operations before equity method investments, income taxes:15785(1,376)415(2,160)(3,809)
Other undisclosed income from continuing operations before income taxes7193 109394201
Income (loss) from continuing operations before income taxes:228179(1,376)524(1,766)(3,608)
Income tax expense (benefit)  (20)(3)699(9)4
Other undisclosed loss from continuing operations(20)     
Income (loss) from continuing operations:208159(1,378)1,223(1,775)(3,604)
Income (loss) before gain (loss) on sale of properties:(1,378)1,223(1,775)(3,604)
Income (loss) from discontinued operations27(3,895)    
Other undisclosed net income (loss)(3,895) 0(699)  
Net income (loss):(3,661)(3,737)(1,378)524(1,775)(3,604)
Other undisclosed net loss attributable to parent   (0)(0)  
Net income (loss) available to common stockholders, diluted:(3,661)(3,737)(1,378)524(1,775)(3,604)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
Net income (loss):(3,661)(3,737)(1,378)524(1,775)(3,604)
Comprehensive income (loss), net of tax, attributable to parent:(3,661)(3,737)(1,378)524(1,775)(3,604)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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