Forward Industries (FWDI) Revenue (2009 - 2026)
Forward Industries' Revenue was $21.44 million in fiscal Q1 2026 (quarter ended Dec 31, 2025), up 363.5% from $4.62 million a year earlier and up 169.8% from the prior quarter.
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Analysis
Forward Industries (FWDI) Revenue (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Forward Industries' Revenue was $35 million through Dec 31, 2025, up 79.7% year-over-year; for FY2025 (ended Sep 30, 2025), it was $18.19 million, down 9.0% from FY2024.
- Revenue has now declined for four consecutive fiscal years, with a five-year compound annual growth rate of -12.0% (FY2020 to FY2025).
- In earlier fiscal years, Revenue was $19.99 million in FY2024 (-45.5%), $36.69 million in FY2023 (-4.0%), $38.21 million in FY2022 (-2.1%) and $39.02 million in FY2021 (+13.2%).
- The fiscal Q1 2026 figure marks the highest quarterly Revenue in data going back to fiscal Q3 2010.
- Compared with a year earlier, Revenue was higher in two of the last eight quarters, with growth averaging 21.6%.
- The best year-over-year quarter for Revenue over five years was fiscal Q1 2026 (growth of 363.5%); the worst was fiscal Q3 2025 (a decline of 50.5%).
- Per Business Quant data, FWDI's Revenue in the three fiscal quarters before Q1 2026 was $7.95 million (Q4 2025), $2.49 million (Q3 2025) and $3.12 million (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Revenue (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 51.06 Bn | 16.35 Bn | 1.60 Bn | 5.15 Bn |
| 2 | Cognizant Technology Solutions | 29.12 Bn | 23.09 Bn | 1.91 Bn | 5.66 Bn |
| 3 | Cdw | 21.17 Bn | 18.07 Bn | 1.39 Bn | 6.75 Bn |
| 4 | Td Synnex | 18.55 Bn | 12.71 Bn | 1.43 Bn | 21.56 Bn |
| 5 | Cgi | 18.36 Bn | 16.16 Bn | - | 3.03 Bn |
| 6 | Arrow Electronics | 9.82 Bn | 8.84 Bn | 1.16 Bn | 10.72 Bn |
| 7 | EPAM Systems | 8.35 Bn | 4.26 Bn | 445.94 Mn | 1.43 Bn |
| 8 | Avnet | 7.00 Bn | 6.12 Bn | 1.07 Bn | 10.72 Bn |
| 9 | ExlService Holdings | 6.69 Bn | 5.49 Bn | 241.14 Mn | 633.96 Mn |
| 10 | Forward Industries | 386.96 Mn | 293.49 Mn | 6.70 Mn | 10.78 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.78 Mn |
| Mar 31, 2026 | 12.96 Mn |
| Dec 31, 2025 | 21.44 Mn |
| Sep 30, 2025 | 7.95 Mn |
| Jun 30, 2025 | 2.49 Mn |
| Mar 31, 2025 | 3.12 Mn |
| Dec 31, 2024 | 4.62 Mn |
| Sep 30, 2024 | 4.74 Mn |
| Jun 30, 2024 | 5.04 Mn |
| Mar 31, 2024 | 5.07 Mn |
| Dec 31, 2023 | 7.15 Mn |
| Sep 30, 2023 | 8.49 Mn |
| Jun 30, 2023 | 8.71 Mn |
| Mar 31, 2023 | 9.74 Mn |
| Dec 31, 2022 | 9.75 Mn |
| Sep 30, 2022 | 5.69 Mn |
| Jun 30, 2022 | 10.59 Mn |
| Mar 31, 2022 | 10.31 Mn |
| Dec 31, 2021 | 11.61 Mn |
| Sep 30, 2021 | 10.94 Mn |
API Access
Forward Industries Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=revenue&ticker=FWDI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "revenue", "ticker": "FWDI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=revenue&ticker=FWDI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();