Forward Industries, Inc. (FWDI)
Forward Industries, Inc. brought in $51.1M of revenue over the twelve months to June 30, 2026, up 134.0% from a year earlier. It posted a net loss of $1.1B. In fiscal 2025 capital spending exceeded operating cash flow by $4.5M. At June 30, 2026 it held $11M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on August 12, 2026.
Key facts about Forward Industries, Inc.
- Net worth
- Forward Industries, Inc. has a market value (market cap) of $408.4M at the latest share price, and shareholders' equity of $474.2M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $18.2M (-38.6% year on year), with a net loss of $167M. Over the 12 months to June 30, 2026: revenue $51.1M, net loss $1.1B.
- Cash flow
- In fiscal 2025 operations used $4.5M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on August 12, 2026 and covers the period to June 30, 2026. Open on SEC EDGAR
What Forward Industries, Inc. does
Forward Industries, Inc. is registered with the SEC under industry code SIC 6199 (Finance Services). Its shares trade on NASDAQ under the ticker FWDI.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $18.2M | -$167M | -$24.59 | -$4.5M |
| 2024 | $29.6M | -$2M | -$1.77 | $454.6K |
| 2023 | $36.7M | -$3.7M | -$3.39 | $904.9K |
| 2022 | $38.2M | -$1.4M | -$1.28 | $1.4M |
| 2021 | $39M | $523.8K | $0.46 | -$595.5K |
| 2020 | $34.5M | -$1.8M | -$1.74 | -$331.4K |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where FWDI ranks in Finance
Dividends
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2016 | n/a | $0 | 0% |
| 2015 | n/a | $21.2K | n/a |
| 2014 | n/a | $76.5K | n/a |
| 2013 | n/a | $14.5K | n/a |
Latest SEC filings
What Forward Industries, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 1, 2026
- September 24, 2026Material agreement8-KForward Industries closed a $25 million registered direct offering of common stock with an institutional investor.
- September 15, 2026
- August 14, 2026Passive stake (5% or more) SCHEDULE 13G
- August 12, 2026
- August 12, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 332% to $10.8M versus the same quarter last year; diluted EPS -$0.80 versus -$0.77.
- July 20, 2026
- June 16, 2026Other event 8-K
- June 16, 2026Other event 8-K
- June 10, 2026Other event 8-K
Insider trades
What the people running Forward Industries, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| August 8, 2026 | Quinn Georgia PGeneral Counsel | Received as pay | 146,956 | - |
| August 8, 2026 | Brazier Mark ChristopherChief Financial Officer | Received as pay | 137,500 | - |
| August 8, 2026 | Navi Ryan DavidChief Investment Officer | Received as pay | 146,956 | - |
| May 19, 2026 | Pruitt Michael DChief Executive Officer, Director | Boughtindirect | 500 | $2.1K |
| May 5, 2026 | Samani PyahmDirector | Other changeindirect | 1,783,519 | $7.9M |
| April 16, 2026 | Brazier Mark ChristopherChief Financial Officer | Received as pay | 275,000 | - |
| March 8, 2026 | Quinn Georgia PGeneral Counsel | Received as pay | 293,911 | - |
| March 8, 2026 | Navi Ryan DavidChief Investment Officer | Received as pay | 382,085 | - |
Who owns FWDI
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Terence Bernard Wise13D, may seek influence | 19.99% | July 11, 2024 |
| Galaxy Digital LP13D, may seek influence with 5 related filers | 9.99% | September 18, 2025 |
| William DiSomma13D, may seek influence with 5 related filers | 9.6% | March 6, 2026 |
| Alyeska Investment Group, L.P.13G, passive with 2 related filers | 5.08% | August 14, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 89 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Galaxy Digital Inc. | 8,108,108 | 0 |
| J Digital 6 LLC | 7,947,843 | 0 |
| BlackRock, Inc. | 3,710,811 | +3,498,852 |
| Geode Capital Management, LLC | 1,943,824 | +868,896 |
| Alyeska Investment Group, L.P. | 3,250,161 | 0 |
| Vanguard Capital Management LLC | 2,682,734 | +1,942,085 |
| Ghisallo Capital Management LLC | 1,006,882 | 0 |
| Long Corridor Asset Management Ltd | 994,164 | 0 |
| State Street Corp | 988,926 | +671,735 |
| Weiss Asset Management LP | 904,581 | new |
| Polar Asset Management Partners Inc. | 874,537 | -71,409 |
| Citadel Advisors LLC | 785,784 | +187,500 |
| Northern Trust Corp | 474,529 | +329,094 |
| Nuveen, LLC | 446,255 | new |
| Vanguard Portfolio Management LLC | 415,422 | new |
| Vanguard Fiduciary Trust Co | 412,319 | +56,841 |
| UBS Group AG | 388,013 | +265,188 |
| Lazard Asset Management LLC | 201,869 | -197,851 |
| Morgan Stanley | 191,896 | +82,110 |
| Renaissance Technologies LLC | 188,854 | -211,370 |
Insiders
6 insiders reported holding 6,312,298 shares in total, about $34.9M at the last price.
| Holder | Shares |
|---|---|
| Samani PyahmDirector | 3,134,8713,134,871 held indirectly |
| Multicoin Capital Management, LLC10% owner | 1,783,5191,783,519 held indirectly |
| Navi Ryan DavidChief Investment Officer | 539,041 |
| Quinn Georgia PGeneral Counsel | 440,867 |
| Brazier Mark ChristopherChief Financial Officer | 412,500 |
| Pruitt Michael DChief Executive Officer, Director | 1,5001,500 held indirectly |
Questions about FWDI
What does Forward Industries, Inc. do?
Forward Industries, Inc. is a company in the Finance sector, listed on NASDAQ as FWDI. Its shares trade on NASDAQ under the ticker FWDI.
What is Forward Industries, Inc.'s net worth?
Forward Industries, Inc. has a market value (market cap) of $408.4M at the latest share price, and shareholders' equity of $474.2M on its balance sheet at June 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Forward Industries, Inc. profitable?
No. Over the twelve months to June 30, 2026 it reported a net loss of $1.1B on revenue of $51.1M.
How much revenue does Forward Industries, Inc. make?
Over the twelve months to June 30, 2026 Forward Industries, Inc. reported revenue of $51.1M. That is 134.0% more than a year earlier.
When did Forward Industries, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on August 12, 2026. It covers the period to June 30, 2026. Its newest filing of any kind is the investor disclosure from October 1, 2026.
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Where the numbers come from
Financial figures are the values Forward Industries, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.