Forward Industries (FWDI) Cost of Revenue (2010 - 2025)
Forward Industries (FWDI) posted Cost of Revenue of $4.6 million for Q4 2025, up 48.53% sequentially from $3.1 million in Q3 2025, and up 31.34% YoY from $3.5 million in Q4 2024.
Forward Industries (FWDI) Cost of Revenue (2010 - 2025) Analysis & Trends
Forward Industries has reported Cost of Revenue for 13 years, with the latest figure at $4.6 million in Q4 2025.
- Quarterly Cost of Revenue rose 31.34% year-over-year to $4.6 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $14.1 million (down 3.48% YoY) and the FY2025 annual result came in at $13.0 million, down 12.23% from the prior year.
- Cost of Revenue improved to $4.6 million in Q4 2025 per FWDI's latest filing, from $3.1 million in the prior quarter.
- Over five years, Cost of Revenue peaked at $9.0 million in Q3 2021 and troughed at -$6.6 million in Q3 2023.
- A 5-year average of $5.0 million and a median of $4.2 million in 2024 frame the typical range for Cost of Revenue.
- The sharpest annual moves came in 2023 and 2024: Cost of Revenue sank 278.54% in 2023, then surged 155.37% in 2024.
- Over 5 years, Cost of Revenue stood at $9.0 million in 2021, then slipped by 13.43% to $7.8 million in 2022, then slumped by 52.48% to $3.7 million in 2023, then decreased by 5.64% to $3.5 million in 2024, then soared by 31.34% to $4.6 million in 2025.
- According to Business Quant data, Cost of Revenue over the past three periods registered $4.6 million, $3.1 million, and $3.1 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 60.63 Bn | 51.60 Bn | 5.39 Bn | 5.58 Bn |
| 2 | Deckers Outdoor | 13.33 Bn | 11.43 Bn | - | - |
| 3 | Birkenstock Holding | 7.60 Bn | 6.80 Bn | 493.89 Mn | 342.46 Mn |
| 4 | Crocs | 6.44 Bn | 6.27 Bn | 700.71 Mn | 478.76 Mn |
| 5 | Steven Madden | 3.37 Bn | 3.28 Bn | 309.66 Mn | 356.21 Mn |
| 6 | Wolverine World Wide | 1.62 Bn | 1.46 Bn | 235.30 Mn | 271.10 Mn |
| 7 | Weyco | 425.23 Mn | 329.76 Mn | 43.78 Mn | 18.43 Mn |
| 8 | Forward Industries | 355.01 Mn | 355.01 Mn | - | - |
| 9 | Rocky Brands | 354.31 Mn | 351.69 Mn | 60.80 Mn | 57.56 Mn |
| 10 | Designer Brands | 311.24 Mn | 261.14 Mn | 315.32 Mn | 381.03 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 4.59 Mn |
| Dec 31, 2025 | 4.59 Mn |
| Sep 30, 2025 | 3.09 Mn |
| Sep 30, 2025 | 3.09 Mn |
| Jun 30, 2025 | 3.12 Mn |
| Jun 30, 2025 | 3.12 Mn |
| Mar 31, 2025 | 3.30 Mn |
| Mar 31, 2025 | 3.30 Mn |
| Dec 31, 2024 | 3.49 Mn |
| Dec 31, 2024 | 3.49 Mn |
| Sep 30, 2024 | 3.64 Mn |
| Sep 30, 2024 | 3.64 Mn |
| Jun 30, 2024 | 3.73 Mn |
| Jun 30, 2024 | 3.73 Mn |
| Mar 31, 2024 | 3.74 Mn |
| Mar 31, 2024 | 3.74 Mn |
| Dec 31, 2023 | 3.70 Mn |
| Dec 31, 2023 | 3.70 Mn |
| Sep 30, 2023 | -6.57 Mn |
| Sep 30, 2023 | -6.57 Mn |