Forward Air (FWRD) Cost of Revenue (2009 - 2026)

Forward Air has reported Cost of Revenue for 18 years, with the latest figure at $55.6 million in Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue rose 884.12% year-over-year to $55.6 million; the trailing twelve-month figure through Mar 2026 stood at $148.9 million (down 26.35% YoY), and the FY2025 full-year result was $242.8 million, down 21.56% from the prior year.
• Cost of Revenue for Q1 2026 stood at $55.6 million, down from $83.0 million in the prior quarter.
• The five-year high for Cost of Revenue was $175.6 million in Q4 2022, with the low at $5.0 million in Q3 2025.
• Historically, Cost of Revenue has averaged $49.9 million across 5 years, with a median of $47.1 million in 2022.
• Annual changes were most pronounced in 2023 — Cost of Revenue plunged 97.0% — and 2024, when it soared 1329.2%.
• Forward Air's Cost of Revenue stood at $175.6 million in 2022, then sank by 97.0% to $5.3 million in 2023, then soared by 1329.2% to $75.3 million in 2024, then advanced by 10.22% to $83.0 million in 2025, then slumped by 33.05% to $55.6 million in 2026.
• The last three Cost of Revenue figures came in at $55.6 million (Q1 2026), $83.0 million (Q4 2025), and $5.0 million (Q3 2025), per Business Quant data.