---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-008908"
form_type: "8-K"
ticker: "FWDI"
cik: "0000038264"
company_name: "Forward Industries, Inc."
filed_at: "2024-12-23T23:59:59+00:00"
generated_at: "2026-05-28T23:55:23.078605+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Largest customer discontinues patch pump program, cutting ~25% of Forward Industries' revenue

## Summary
- Customer terminated all services related to patch pump program; revenue from this customer was 25.2% of FY2024 consolidated revenue.
- Company expects a material decrease in revenues beginning in Q2 fiscal 2025.
- Company is undertaking cost reduction efforts, including a reduction in workforce.
- Formal notice received on December 9, 2024.

## SEC filing metadata
- accession: 0001683168-24-008908
- form_type: 8-K
- ticker: FWDI
- cik: 0000038264
- company_name: Forward Industries, Inc.
- filed_at: 2024-12-23T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38264/000168316824008908/0001683168-24-008908-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38264/000168316824008908/forward_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-008908
- JSON: https://secwatch.observer/filing/0001683168-24-008908.json
- Plain text: https://secwatch.observer/filing/0001683168-24-008908.txt

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