Filing Flows › Forward Industries (FWDI) › Q4 FY24
Forward Industries (FWDI) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Dec 27, 2024
Forward Industries (FWDI) reported revenue of $7.3M for the fourth quarter fiscal 2024 (Q4 FY24), -14% from a year earlier and -7% from the quarter before. Operating margin was -8.6%, net loss $644K (8.8% of revenue).
Forward Industries, Q4 FY24: revenue $7.3M (-14% year over year), operating margin -8.6%, net loss $644K, operating cash flow $479K. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.3M | -7% | -14% |
| Operating profit | −$631K | — | — |
| Net earnings | −$644K | — | — |
| Operating cash flow | $479K | +5% | 0% |
| Free cash flow | $464K | +4% | +1% |
What changed
Revenue was $7.3M in Q4 FY24, down 14% year over year and down 7% from the previous quarter.
Gross margin was 18.5%, down 8.4 points from a year earlier. Operating costs exceeded revenue by $631K, an operating margin of -8.6%. Operating expenses fell 3% while revenue fell 14%. The quarter ended with a net loss of $644K, wider than the previous quarter's $400K loss.
Operating cash flow was $479K (roughly flat year over year). Non-cash charges added back $84K of depreciation and amortization and $20K of share-based compensation. Working capital and other items added $1.0M. Capital expenditures of $15K left free cash flow of $464K.
Questions
What was Forward Industries' revenue in the fourth quarter fiscal 2024?
Forward Industries (FWDI) reported revenue of $7.3M for the fourth quarter fiscal 2024 (Q4 FY24), -14% from a year earlier and -7% from the quarter before.
Was Forward Industries profitable in the fourth quarter fiscal 2024?
Operating loss was $631K (-8.6% of revenue) and net loss $644K.
Source: Forward Industries 10-K on SEC EDGAR.