Forward Industries reports FY2023 net loss of $3.7M; design division records record revenues

Forward Industries, Inc.

Revenue $36.7M, down 3.9% YoY; income from continuing ops $0.2M vs $0.4M.
Net loss widened to $3.7M from $1.4M; diluted EPS from continuing ops $0.02 vs $0.04.
Cash balance increased 23% to $3.2M; gross margin 22.8% vs 23.0%.
Design division subsidiary IPS achieved record revenues and profitability, says CEO.
CEO plans to grow organic businesses and pursue acquisition/venture opportunities in FY2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.92

Forward Industries, Inc. reported fiscal year ended September 30, 2023 results: revenue $36.7 million, net income net loss was $3.7 million, EPS Basic and diluted earnings per share from continuing operations was $0.02.

Period: fiscal year ended September 30, 2023
Revenue: $36.7 million
Net income: net loss was $3.7 million
EPS: Basic and diluted earnings per share from continuing operations was $0.02
Result: preliminary results

Exact text from the filing

distribution group, today announced preliminary financial results for the fiscal year ended September 30, 2023. Preliminary Fiscal Year 2023 Financial Highlights · Revenues were $36.7 million, a decrease of 3.9% from $38.2 million for 2022 with IPS from the design division recording record revenues in 2023. · Gross margin declined to 22.8% compared to 23.0% for 2022.

View on SEC.gov

44 earnings releases filed in the last 30 days. Browse all earnings releases →

Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-008993

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.