Forward Industries Q1 revenue drops 26.7% to $7.2M; net loss flat at $0.4M

Forward Industries, Inc.

2024-Q1 EPS reported -$0.04 revenue$7,151,951

Revenue declined 26.7% YoY to $7.2M from $9.8M.
Gross margin improved to 23.0% from 20.2% in the prior year.
Loss from continuing operations widened to $0.4M from $0.1M.
Basic and diluted loss per share was $0.04 vs $0.01 a year ago.
Cash balance fell 5% to $3.0M from $3.2M at September 30, 2023.

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 first quarter ended December 31, 2023 results: revenue $7.2 million, net income net loss was $0.4 million, EPS $0.04.

Period: first quarter ended December 31, 2023
Revenue: $7.2 million
Net income: net loss was $0.4 million
EPS: $0.04
Result: reported results

Exact text from the filing

and distribution group, today announced financial results for its first quarter ended December 31, 2023. First Quarter Fiscal Year 2024 Financial Highlights · Revenues were $7.2 million, a decrease of 26.7% from $9.8 million for 2023. · Gross margin increased to 23.0% compared to 20.2% for 2023. · Loss from continuing operations was $0.4 million compared to $0.1

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Source: SEC EDGAR

accession 0001683168-24-000984

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