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
Q2
12/31/2023
Q1
9/30/2023
Q4
6/30/2023
Q3
3/31/2023
Q2
12/31/2022
Q1
9/30/2022
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,0273,1802,8212,3562,3322,576
Cash and cash equivalents3,0273,1802,8212,3562,3322,576
Receivables6,5356,9697,6598,1858,5237,543
Inventory, net of allowances, customer advances and progress billings4053341,8932,9214,1393,801
Inventory4053341,8932,9214,1393,801
Disposal group, including discontinued operation 136508    
Other undisclosed current assets392379690511394418
Total current assets:10,49511,37013,06313,97315,38814,337
Noncurrent Assets
Operating lease, right-of-use asset2,9163,0213,1253,2273,3283,428
Property, plant and equipment265274282261262241
Intangible assets, net (including goodwill)2,5992,6522,7052,7582,8112,865
Goodwill1,7591,7591,7591,7591,7591,759
Intangible assets, net (excluding goodwill)8408939461,0001,0531,106
Other noncurrent assets696969696969
Total noncurrent assets:5,8496,0166,1816,3156,4706,602
TOTAL ASSETS:16,34417,38619,24420,28821,85820,939
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:4955191,2839586951,151
Accounts payable 519 409 268
Accrued liabilities117 701474258722
Other undisclosed accounts payable and accrued liabilities378 58275437161
Deferred revenue250297265166335439
Debt850     
Deferred compensation liability      25
Due to related parties9,4767,714
Other undisclosed current liabilities9,71210,0209,0399,783963649
Total current liabilities:11,30810,83610,58710,90711,4699,978
Noncurrent Liabilities
Long-term debt and lease obligation  1,1001,2001,3001,3504,650
Long-term debt, excluding current maturities  1,1001,2001,3001,3501,400
Liabilities, other than long-term debt2,7232,8342,9733,0773,17945
Deferred compensation liability, classified   30303045
Operating lease, liability2,7232,8342,9433,0473,1493,250
Total noncurrent liabilities:2,7233,9344,1734,3774,5294,695
Total liabilities:14,03114,77014,76015,28415,99814,673
Equity
Equity, attributable to parent, including:2,3132,6164,4845,0045,8606,266
Additional paid in capital20,25320,20220,17120,15520,14020,116
Accumulated deficit(18,041)(17,687)(15,788)(15,251)(14,380)(13,950)
Other undisclosed equity, attributable to parent101101101101101101
Total equity:2,3132,6164,4845,0045,8606,266
TOTAL LIABILITIES AND EQUITY:16,34417,38619,24420,28821,85820,939

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

3/31/2024
Q2
12/31/2023
Q1
9/30/2023
Q4
6/30/2023
Q3
3/31/2023
Q2
12/31/2022
Q1
9/30/2022
Q4
Revenues7,1525,09310,12710,65810,8109,820
Cost of revenue(5,509)(1,983)(8,304)(9,146)(8,891)(8,241)
Gross profit:1,6423,1101,8231,5121,9191,579
Operating expenses(2,023)(1,118)(2,345)(2,356)(2,386)(2,324)
Operating income (loss):(380)1,993(522)(844)(467)(745)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
160(1)25(6)
Interest and debt expense (19)(24)(25)(27)(28)(29)
Income (loss) from continuing operations before equity method investments, income taxes:(399)1,975(547)(872)(470)(780)
Other undisclosed income from continuing operations before income taxes174210140 
Income (loss) from continuing operations before income taxes:(381)2,017(537)(871)(430)(780)
Other undisclosed loss from continuing operations  (20)   (3)
Income (loss) from continuing operations:(381)1,997(537)(871)(430)(783)
Loss before gain (loss) on sale of properties:(783)
Income (loss) from discontinued operations27     
Other undisclosed net income (loss)  (3,895)   0
Net loss:(354)(1,899)(537)(871)(430)(783)
Other undisclosed net loss attributable to parent      (0)
Net loss available to common stockholders, diluted:(354)(1,899)(537)(871)(430)(783)

Comprehensive Income ($ in thousands)

3/31/2024
Q2
12/31/2023
Q1
9/30/2023
Q4
6/30/2023
Q3
3/31/2023
Q2
12/31/2022
Q1
9/30/2022
Q4
Net loss:(354)(1,899)(537)(871)(430)(783)
Comprehensive loss, net of tax, attributable to parent:(354)(1,899)(537)(871)(430)(783)

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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