Forward Industries, Inc. (FORD) Financial Statements (2025 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)
| 12/31/2024 MRQ | 9/30/2024 | 9/30/2023 | 9/30/2022 | 9/30/2021 | 9/30/2020 | 9/30/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 3,022 | 3,180 | 2,576 | 1,410 | 2,925 | 3,093 | |||
| Cash and cash equivalent | 3,022 | 3,180 | 2,576 | 1,410 | 2,925 | 3,093 | |||
| Receivables | 5,609 | 6,969 | 7,543 | 8,761 | 7,602 | 6,695 | |||
| Inventory, net of allowances, customer advances and progress billings | 490 | 334 | 3,801 | 2,063 | 1,276 | 1,609 | |||
| Inventory | 490 | 334 | 3,801 | 2,063 | 1,276 | 1,609 | |||
| Deferred rent asset | 13 | 19 | |||||||
| Disposal group, including discontinued operation | 508 | ||||||||
| Other undisclosed current assets | 523 | 379 | 418 | 561 | 406 | 422 | |||
| Total current assets: | 9,644 | 11,370 | 14,337 | 12,795 | 12,222 | 11,838 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 2,593 | 3,021 | 3,428 | 3,743 | 3,512 | ||||
| Property, plant and equipment | 219 | 274 | 241 | 168 | 215 | 243 | |||
| Intangible assets, net (including goodwill) | 2,239 | 2,652 | 2,865 | 3,077 | 3,290 | 3,431 | |||
| Goodwill | 1,559 | 1,759 | 1,759 | 1,759 | 1,759 | 2,182 | |||
| Intangible assets, net (excluding goodwill) | 680 | 893 | 1,106 | 1,319 | 1,531 | 1,249 | |||
| Other noncurrent assets | 73 | 69 | 69 | 72 | 117 | 255 | |||
| Other undisclosed noncurrent assets | 327 | ||||||||
| Total noncurrent assets: | 5,124 | 6,016 | 6,602 | 7,061 | 7,134 | 4,256 | |||
| TOTAL ASSETS: | 14,768 | 17,386 | 20,939 | 19,856 | 19,356 | 16,094 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 129 | 519 | 1,151 | 528 | 615 | 695 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 199 | 178 | 170 | ||
| Accounts payable | 129 | 519 | 268 | 197 | 315 | ||||
| Accrued liabilities | 722 | 18 | 46 | ||||||
| Other undisclosed accounts payable and accrued liabilities | 161 | 329 | 222 | 164 | |||||
| Deferred revenue | 399 | 297 | 439 | 188 | 485 | 220 | |||
| Debt | 600 | 1,983 | 2,955 | ||||||
| Deferred compensation liability | 25 | 25 | 45 | 834 | |||||
| Due to related parties | ✕ | ✕ | ✕ | 7,714 | 5,734 | 3,622 | 3,237 | ||
| Other undisclosed current liabilities | 8,243 | 10,020 | 649 | 734 | 2,075 | 355 | |||
| Total current liabilities: | 9,372 | 10,836 | 9,978 | 7,208 | 8,826 | 8,296 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,100 | 4,650 | 5,159 | 3,889 | |||||
| Long-term debt, excluding current maturities | 1,100 | 1,400 | 1,600 | 530 | |||||
| Liabilities, other than long-term debt | 2,430 | 2,834 | 45 | 45 | 45 | 61 | |||
| Deferred compensation liability, classified | 45 | 45 | 45 | ||||||
| Deferred rent credit | 61 | ||||||||
| Operating lease, liability | 2,430 | 2,834 | 3,250 | 3,559 | 3,359 | ||||
| Other undisclosed noncurrent liabilities | 13 | 26 | |||||||
| Total noncurrent liabilities: | 2,430 | 3,934 | 4,695 | 5,204 | 3,947 | 87 | |||
| Total liabilities: | 11,801 | 14,770 | 14,673 | 12,412 | 12,773 | 8,383 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 2,967 | 2,616 | 6,266 | 7,443 | 6,583 | 7,711 | |||
| Preferred stock | 2,200 | ||||||||
| Additional paid in capital | 20,393 | 20,202 | 20,116 | 19,914 | 19,580 | 18,936 | |||
| Accumulated deficit | (19,637) | (17,687) | (13,950) | (12,572) | (13,095) | (11,320) | |||
| Other undisclosed equity, attributable to parent | 11 | 101 | 101 | 101 | 99 | 95 | |||
| Total equity: | 2,967 | 2,616 | 6,266 | 7,443 | 6,583 | 7,711 | |||
| TOTAL LIABILITIES AND EQUITY: | 14,768 | 17,386 | 20,939 | 19,856 | 19,356 | 16,094 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2024 TTM | 9/30/2024 | 9/30/2023 | 9/30/2022 | 9/30/2021 | 9/30/2020 | 9/30/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 30,195 | 36,688 | 42,337 | 39,022 | 34,478 | 37,409 | ||
| Cost of revenue | (23,987) | (28,324) | (33,969) | (30,888) | (27,840) | (30,828) | ||
| Cost of product and service sold | (14,807) | |||||||
| Gross profit: | 6,209 | 8,364 | 8,368 | 8,134 | 6,639 | 6,581 | ||
| Operating expenses | (8,141) | (8,205) | (9,608) | (8,899) | (7,606) | (9,678) | ||
| Other undisclosed operating loss | (1,015) | |||||||
| Operating income (loss): | (1,932) | 160 | (1,240) | (765) | (1,982) | (3,097) | ||
| Nonoperating income (expense) | (8) | 30 | (13) | (5) | (3) | (511) | ||
| Loss, foreign currency transaction, before tax | (3) | (14) | ||||||
| Other nonoperating income (expense) | (8) | 30 | (13) | (5) | ||||
| Interest and debt expense | (104) | (123) | 1,185 | (175) | (201) | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | (1,941) | 85 | (1,376) | 415 | (2,160) | (3,809) | ||
| Other undisclosed income from continuing operations before income taxes | 16 | 93 | 109 | 394 | 201 | |||
| Income (loss) from continuing operations before income taxes: | (1,925) | 179 | (1,376) | 524 | (1,766) | (3,608) | ||
| Income tax expense (benefit) | (23) | (20) | (3) | 699 | (9) | 4 | ||
| Other undisclosed loss from continuing operations | ||||||||
| Income (loss) from continuing operations: | (1,948) | 159 | (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) | |
| Loss from discontinued operations | (3) | (3,895) | ||||||
| Other undisclosed net income (loss) | 0 | (699) | ||||||
| Net income (loss): | (1,951) | (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: | (1,951) | (3,737) | (1,378) | 524 | (1,775) | (3,604) | ||
Comprehensive Income ($ in thousands)
| 12/31/2024 TTM | 9/30/2024 | 9/30/2023 | 9/30/2022 | 9/30/2021 | 9/30/2020 | 9/30/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (1,951) | (3,737) | (1,378) | 524 | (1,775) | (3,604) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (1,951) | (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.