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

Forward Air (FWRD) has 18 years of Cost of Revenue data on file, last reported at $55.6 million in Q1 2026.

• Quarterly Cost of Revenue changed 0.11% year-over-year to $55.6 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $242.8 million (down 3.67% YoY) and the FY2025 annual result came in at $242.8 million, down 21.56% from the prior year.
• Cost of Revenue fell to $55.6 million in Q1 2026, from $83.0 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $112.9 million in Q1 2024 to a low of $30.1 million in Q4 2022.
• A 5-year average of $58.6 million and a median of $55.6 million in 2026 frame the typical range for Cost of Revenue.
• Annual changes were most pronounced in 2024 — Cost of Revenue jumped 160.81% — and 2025, when it plunged 50.83%.
• Tracing FWRD's Cost of Revenue over 5 years: stood at $30.1 million in 2022, then surged by 94.69% to $58.6 million in 2023, then rose by 28.57% 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 $60.8 million (Q3 2025), per Business Quant data.