Forward Industries, Inc. (FORD) financial statements (2022 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
TTM
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,4321,4102,9253,0934,3704,6234,761
Cash and cash equivalents2,4321,4102,9253,0934,3704,6234,761
Receivables8,7418,7617,6026,6959,0256,2194,864
Inventory, net of allowances, customer advances and progress billings2,9722,0631,2761,6091,5692,1212,573
Inventory2,9722,0631,2761,6091,5692,1212,573
Deferred rent asset  1319   
Other undisclosed current assets678561406422248158141
Total current assets:14,82312,79512,22211,83815,21213,12012,339
Noncurrent Assets
Operating lease, right-of-use asset3,8443,7433,512 
Property, plant and equipment2141682152433592143
Long-term investments and receivables(706)      
Accounts and financing receivable, after allowance for credit loss(706)      
Intangible assets, net (including goodwill)3,0243,0773,2903,4313,594  
Goodwill1,7591,7591,7592,1822,182  
Intangible assets, net (excluding goodwill)1,2651,3191,5311,2491,411  
Other noncurrent assets7272117255641313
Other undisclosed noncurrent assets706  327   
Total noncurrent assets:7,1557,0617,1344,2564,0163456
TOTAL ASSETS:21,97819,85619,35616,09419,22813,15412,395
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:308528615695595383588
Accounts payable308 197315 6762
Accrued liabilities  18461895322
Employee-related liabilities 199178170168130256
Other undisclosed accounts payable and accrued liabilities 329222164237133247
Deferred revenue753188485220
Debt1,550 1,9832,9552,177  
Deferred compensation liability252545834200  
Due to related parties6,9625,7343,6223,2374,1973,7363,520
Other undisclosed current liabilities9977342,0753554556762
Total current liabilities:10,5947,2088,8268,2967,6244,1874,170
Noncurrent Liabilities
Long-term debt and lease obligation3,6775,1593,889 118  
Long-term debt, excluding current maturities 1,600530 54  
Capital lease obligations64  
Operating lease, liability3,6773,5593,359 
Liabilities, other than long-term debt45454561386  
Deferred compensation liability, classified454545 338  
Deferred rent credit   6148
Other undisclosed noncurrent liabilities  1326 3751
Total noncurrent liabilities:3,7225,2043,947875043751
Total liabilities:14,31512,41212,7738,3838,1284,2244,221
Stockholders' equity
Stockholders' equity attributable to parent, including:7,6627,4436,5837,71111,1008,9308,174
Additional paid in capital19,95319,91419,58018,93618,72017,93717,783
Accumulated other comprehensive loss      (22)
Accumulated deficit(12,392)(12,572)(13,095)(11,320)(7,716)(9,095)(9,675)
Other undisclosed stockholders' equity attributable to parent1011019995958988
Total stockholders' equity:7,6627,4436,5837,71111,1008,9308,174
TOTAL LIABILITIES AND EQUITY:21,97819,85619,35616,09419,22813,15412,395

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

12/31/2021
TTM
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
Revenues40,91839,02234,47837,40934,50024,76527,480
Revenue, net24,76527,480
Cost of revenue(32,428)(30,888)(27,840)(30,828)(27,931)(20,573)(22,400)
Cost of goods and services sold     (20,573)(22,400)
Gross profit:8,4908,1346,6396,5816,5684,1925,080
Operating expenses(8,874)(8,899)(7,606)(9,678)(6,307)(3,593)(4,463)
Other undisclosed operating loss  (1,015)    
Operating income (loss):(383)(765)(1,982)(3,097)261598617
Nonoperating income (expense)(10)(5)(3)(511)372(19)(10)
Foreign currency transaction loss, before tax  (3)(14)(10)  
Other nonoperating expense(10)(5)   (19)(10)
Interest and debt expense(158)1,185(175)(201)(115)  
Income (loss) from continuing operations before equity method investments, income taxes:(551)415(2,160)(3,809)517579607
Other undisclosed income from continuing operations before income taxes56109394201115  
Income (loss) from continuing operations before income taxes:(495)524(1,766)(3,608)632579607
Income tax expense (benefit) 699(9)4747  
Other undisclosed income from continuing operations699      
Income (loss) before gain (loss) on sale of properties:2041,223(1,775)(3,604)1,379579607
Other undisclosed net loss(699)(699)     
Net income (loss):(495)524(1,775)(3,604)1,379579607
Other undisclosed net loss attributable to parent(0)(0)     
Net income (loss) available to common stockholders, diluted:(495)524(1,775)(3,604)1,379579607

Comprehensive Income ($ in thousands)

12/31/2021
TTM
9/30/2021
9/30/2020
9/30/2019
9/30/2018
9/30/2017
9/30/2016
Net income (loss):(495)524(1,775)(3,604)1,379579607
Comprehensive income (loss):(495)524(1,775)(3,604)1,379579607
Other undisclosed comprehensive income, net of tax, attributable to parent     22 
Comprehensive income (loss), net of tax, attributable to parent:(495)524(1,775)(3,604)1,379601607

Statements sources

The financial statements are based on the company's filings with the 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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