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Forward Industries vs Marygold Companies: FWDI and MGLD compared
Forward Industries is the larger company: $10.8M of revenue in its latest quarter (Q3 FY26) against $9.4M for Marygold Companies (Q1 FY27). Forward Industries is growing faster (+332% against +80% a year earlier). Marygold Companies is more profitable, with an operating margin of 19.9% against -651.8%.
Where the money goes: FWDI and MGLD
Forward Industries (FWDI) · Q3 FY26
Forward Industries, Q3 FY26: revenue $10.8M (+332% year over year), operating margin -651.8%, net loss $69.0M, operating cash flow −$3.4M. The chart follows the revenue to costs, profit and cash.
Marygold Companies (MGLD) · Q1 FY27
Marygold Companies, Q1 FY27: revenue $9.4M (+80% year over year), operating margin 19.9%, net earnings $1.8M, operating cash flow $1.8M. The chart follows the revenue to costs, profit and cash.
| Forward Industries (FWDI) | Marygold Companies (MGLD) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q1 FY27 |
| Revenue | $10.8M | $9.4M |
| Revenue growth, Y/Y | +332% | +80% |
| Gross margin | — | 95.7% |
| Operating margin | -651.8% | 19.9% |
| Net earnings | −$69.0M | $1.8M |
| Net margin | -639.7% | 18.7% |
| Operating cash flow | −$3.4M | $1.8M |
Where the revenue comes from
Marygold Companies
- Fund Management Related Party: $8.4M (90%)
- Beauty Products: $792K (8%)
- Financial Services: $160K (2%)
Questions
Which is bigger, Forward Industries or Marygold Companies?
Forward Industries is the larger company: $10.8M of revenue in its latest quarter (Q3 FY26) against $9.4M for Marygold Companies (Q1 FY27).
Is Forward Industries or Marygold Companies growing faster?
Forward Industries is growing faster (+332% against +80% a year earlier).
Which is more profitable, Forward Industries or Marygold Companies?
Marygold Companies is more profitable, with an operating margin of 19.9% against -651.8%.
More: Forward Industries earnings · how Forward Industries makes money · Marygold Companies earnings · how Marygold Companies makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 12, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.