Forward Industries Q2 FY2023: Revenue $10.7M (+3.9%), operating loss widens to $0.8M, EPS -$0.09

Forward Industries, Inc.

2023-Q2 EPS reported -$0.13 revenue$21,467,659

Revenue $10.7M, up 3.9% from $10.3M in Q2 FY2022.
Gross margin dropped to 14.2% from 21.8% year-over-year.
Operating loss of $0.8M compared to a $0.3M loss in prior-year quarter.
Basic and diluted loss per share $0.09, worsening from $0.04 loss a year ago.
CEO cites sustained momentum in design division but poor retail/OEM segment performance.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Forward Industries, Inc. reported the second quarter ended March 31, 2023 results: revenue $10.7 million, EPS $0.09.

Period: the second quarter ended March 31, 2023
Revenue: $10.7 million
EPS: $0.09
Result: reported results

Exact text from the filing

and distribution group, today announced financial results for its second quarter ended March 31, 2023. Second Quarter Fiscal Year 2023 Financial Highlights · Revenues were $10.7 million, an increase of 3.9% from $10.3 million for the second quarter of fiscal year 2022. · Gross margin declined to 14.2% compared to 21.8% for the second quarter of fiscal year 2022.

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Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-003268

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