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)

9/30/2023
12/31/2022
MRQ
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,3322,5761,4102,9253,0934,370
Cash and cash equivalents2,3322,5761,4102,9253,0934,370
Receivables8,5237,5438,7617,6026,6959,025
Inventory, net of allowances, customer advances and progress billings4,1393,8012,0631,2761,6091,569
Inventory4,1393,8012,0631,2761,6091,569
Deferred rent asset    1319 
Disposal group, including discontinued operation      
Other undisclosed current assets394418561406422248
Total current assets:15,38814,33712,79512,22211,83815,212
Noncurrent Assets
Operating lease, right-of-use asset3,3283,4283,7433,512 
Property, plant and equipment262241168215243359
Intangible assets, net (including goodwill)2,8112,8653,0773,2903,4313,594
Goodwill1,7591,7591,7591,7592,1822,182
Intangible assets, net (excluding goodwill)1,0531,1061,3191,5311,2491,411
Other noncurrent assets69697211725564
Other undisclosed noncurrent assets     327 
Total noncurrent assets:6,4706,6027,0617,1344,2564,016
TOTAL ASSETS:21,85820,93919,85619,35616,09419,228
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:6951,151528615695595
Employee-related liabilities199178170168
Accounts payable 268 197315 
Accrued liabilities 258722 1846189
Other undisclosed accounts payable and accrued liabilities 437161329222164237
Deferred revenue335439188485220
Debt    1,9832,9552,177
Deferred compensation liability  252545834200
Due to related parties9,4767,7145,7343,6223,2374,197
Other undisclosed current liabilities9636497342,075355455
Total current liabilities:11,4699,9787,2088,8268,2967,624
Noncurrent Liabilities
Long-term debt and lease obligation1,3504,6505,1593,889 118
Long-term debt, excluding current maturities1,3501,4001,600530 54
Capital lease obligations64
Liabilities, other than long-term debt3,17945454561386
Deferred compensation liability, classified 30454545 338
Deferred rent credit     6148
Operating lease, liability3,1493,2503,5593,359 
Other undisclosed noncurrent liabilities    1326 
Total noncurrent liabilities:4,5294,6955,2043,94787504
Total liabilities:15,99814,67312,41212,7738,3838,128
Equity
Equity, attributable to parent, including:5,8606,2667,4436,5837,71111,100
Additional paid in capital20,14020,11619,91419,58018,93618,720
Accumulated deficit(14,380)(13,950)(12,572)(13,095)(11,320)(7,716)
Other undisclosed equity, attributable to parent101101101999595
Total equity:5,8606,2667,4436,5837,71111,100
TOTAL LIABILITIES AND EQUITY:21,85820,93919,85619,35616,09419,228

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

9/30/2023
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Revenues41,53342,33739,02234,47837,40934,500
Cost of revenue(33,865)(33,969)(30,888)(27,840)(30,828)(27,931)
Gross profit:7,6688,3688,1346,6396,5816,568
Operating expenses(9,589)(9,608)(8,899)(7,606)(9,678)(6,307)
Other undisclosed operating loss    (1,015)  
Operating income (loss):(1,921)(1,240)(765)(1,982)(3,097)261
Nonoperating income (expense)13(13)(5)(3)(511)372
Loss, foreign currency transaction, before tax    (3)(14)(10)
Other nonoperating income (expense)13(13)(5)   
Interest and debt expense(119)(123)1,185(175)(201)(115)
Income (loss) from continuing operations before equity method investments, income taxes:(2,026)(1,376)415(2,160)(3,809)517
Other undisclosed income from continuing operations before income taxes40 109394201115
Income (loss) from continuing operations before income taxes:(1,986)(1,376)524(1,766)(3,608)632
Income tax expense (benefit) (3)699(9)4747
Other undisclosed loss from continuing operations (3)     
Income (loss) from continuing operations:(1,989)(1,378)1,223(1,775)(3,604)1,379
Income (loss) before gain (loss) on sale of properties:(1,558)(1,378)1,223(1,775)(3,604)1,379
Loss from discontinued operations      
Other undisclosed net income (loss) 00(699)   
Net income (loss):(1,988)(1,378)524(1,775)(3,604)1,379
Other undisclosed net loss attributable to parent (0)(0)(0)   
Net income (loss) available to common stockholders, diluted:(1,989)(1,378)524(1,775)(3,604)1,379

Comprehensive Income ($ in thousands)

9/30/2023
12/31/2022
TTM
9/30/2022
9/30/2021
9/30/2020
9/30/2019
9/30/2018
Net income (loss):(1,988)(1,378)524(1,775)(3,604)1,379
Comprehensive income (loss), net of tax, attributable to parent:(1,988)(1,378)524(1,775)(3,604)1,379

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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