Filing Flows › Forward Industries (FWDI) › Q3 FY25
Forward Industries (FWDI) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Aug 14, 2025
Forward Industries (FWDI) reported revenue of $2.5M for the third quarter fiscal 2025 (Q3 FY25), -50% from a year earlier and -20% from the quarter before. Operating margin was -102.6%, net loss $850K (34.1% of revenue).
Forward Industries, Q3 FY25: revenue $2.5M (-50% year over year), operating margin -102.6%, net loss $850K, operating cash flow −$1.2M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5M | -20% | -50% |
| Operating profit | −$2.6M | — | — |
| Net earnings | −$850K | — | — |
| Operating cash flow | −$1.2M | — | — |
What changed
Revenue was $2.5M in Q3 FY25, down 50% year over year and down 20% from the previous quarter.
Operating costs exceeded revenue by $2.6M, an operating margin of -102.6%. The fastest-growing cost line was General & admin (+14%). The quarter ended with a net loss of $850K, narrower than the previous quarter's $1.5M loss. Non-operating items added $1.7M, -201% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$1.2M. Non-cash charges added back $83K of depreciation and amortization and $39K of share-based compensation. Working capital and other items used $500K. Capital expenditures of $19K exceeded it, leaving free cash flow of −$1.2M.
Questions
What was Forward Industries' revenue in the third quarter fiscal 2025?
Forward Industries (FWDI) reported revenue of $2.5M for the third quarter fiscal 2025 (Q3 FY25), -50% from a year earlier and -20% from the quarter before.
Was Forward Industries profitable in the third quarter fiscal 2025?
Operating loss was $2.6M (-102.6% of revenue) and net loss $850K.
Source: Forward Industries 10-Q on SEC EDGAR.