---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-008993"
form_type: "8-K"
ticker: "FWDI"
cik: "0000038264"
company_name: "Forward Industries, Inc."
filed_at: "2023-12-20T23:59:59+00:00"
generated_at: "2026-06-07T10:12:19.142095+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001683168-23-008993
- form_type: 8-K
- ticker: FWDI
- cik: 0000038264
- company_name: Forward Industries, Inc.
- filed_at: 2023-12-20T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38264/000168316823008993/0001683168-23-008993-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38264/000168316823008993/forward_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-008993
- JSON: https://secwatch.observer/filing/0001683168-23-008993.json
- Plain text: https://secwatch.observer/filing/0001683168-23-008993.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/38264/000168316823008993/0001683168-23-008993-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.