Forward Industries (FWDI) Operating Expenses (2010 - 2025)
Forward Industries (FWDI) posted Operating Expenses of $3.8 million for Q4 2025, down 27.79% sequentially from $5.2 million in Q3 2025, and up 93.56% YoY from $2.0 million in Q4 2024.
Forward Industries (FWDI) Operating Expenses (2010 - 2025) Analysis & Trends
Forward Industries has reported Operating Expenses for 13 years, with the latest figure at $3.8 million in Q4 2025.
- Quarterly Operating Expenses rose 93.56% year-over-year to $3.8 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $12.6 million (up 76.83% YoY) and the FY2025 annual result came in at $11.6 million, up 61.98% from the prior year.
- Operating Expenses slipped to $3.8 million in Q4 2025 per FWDI's latest filing, from $5.2 million in the prior quarter.
- Over five years, Operating Expenses peaked at $5.2 million in Q3 2025 and troughed at $1.1 million in Q3 2022.
- A 5-year average of $2.3 million and a median of $2.2 million in 2023 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses slumped 47.53% in 2024, then soared 352.92% in 2025.
- Over 5 years, Operating Expenses stood at $2.5 million in 2021, then declined by 12.0% to $2.2 million in 2022, then fell by 3.0% to $2.2 million in 2023, then declined by 9.97% to $2.0 million in 2024, then jumped by 93.56% to $3.8 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered $3.8 million, $5.2 million, and $1.9 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Nike | 60.63 Bn | 51.60 Bn | 5.39 Bn | 4.08 Bn |
| 2 | Deckers Outdoor | 13.33 Bn | 11.43 Bn | - | - |
| 3 | Birkenstock Holding | 7.60 Bn | 6.80 Bn | 493.89 Mn | 37.80 Mn |
| 4 | Crocs | 6.44 Bn | 6.27 Bn | 700.71 Mn | 415.03 Mn |
| 5 | Steven Madden | 3.37 Bn | 3.28 Bn | 309.66 Mn | 270.34 Mn |
| 6 | Wolverine World Wide | 1.62 Bn | 1.46 Bn | 235.30 Mn | 187.40 Mn |
| 7 | Weyco | 425.23 Mn | 329.76 Mn | 43.78 Mn | 26.76 Mn |
| 8 | Forward Industries | 355.01 Mn | 355.01 Mn | - | - |
| 9 | Rocky Brands | 354.31 Mn | 351.69 Mn | 60.80 Mn | 41.12 Mn |
| 10 | Designer Brands | 311.24 Mn | 261.14 Mn | 315.32 Mn | 299.21 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 3.79 Mn |
| Sep 30, 2025 | 5.25 Mn |
| Jun 30, 2025 | 1.94 Mn |
| Mar 31, 2025 | 1.64 Mn |
| Dec 31, 2024 | 1.96 Mn |
| Sep 30, 2024 | 1.16 Mn |
| Jun 30, 2024 | 1.92 Mn |
| Mar 31, 2024 | 2.10 Mn |
| Dec 31, 2023 | 2.17 Mn |
| Sep 30, 2023 | 2.21 Mn |
| Jun 30, 2023 | 2.20 Mn |
| Mar 31, 2023 | 2.18 Mn |
| Dec 31, 2022 | 2.24 Mn |
| Sep 30, 2022 | 1.07 Mn |
| Jun 30, 2022 | 2.45 Mn |
| Mar 31, 2022 | 2.72 Mn |
| Dec 31, 2021 | 2.55 Mn |
| Sep 30, 2021 | 1.99 Mn |
| Jun 30, 2021 | 2.05 Mn |
| Mar 31, 2021 | 2.70 Mn |