Design was Forward Industries’s largest segment in fiscal 2025, bringing in $13.61M of $18.19M (75%).
| Segment | FY 2013 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Distribution | — | — | — | ||||||
| Oem Distribution | $14.00M | — | — | ||||||
| O E M Distribution | — | — | — | ||||||
| Design | $22.69M | $19.99M | $13.61M | ||||||
| Operating Segments | — | — | — | ||||||
| Digital Assets | — | — | $4.58M | ||||||
| Retail Distribution | — | — | — | ||||||
| Total | $36.69M | $19.99M | $18.19M |
Forward Industries brought in $18.19M from its two segments in fiscal 2025, the year ended September 30, 2025. Forward Industries regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $19.99M. Design was the largest at $13.61M (74.8%), ahead of Digital Assets at $4.58M (25.2%).
Forward Industries began breaking out Digital Assets in fiscal 2025, when it brought in $4.58M. Forward Industries stopped reporting Oem Distribution as a separate segment after fiscal 2023, when it brought in $14.00M.
Americas was Forward Industries’s largest region in fiscal 2014, bringing in $9.38M of $25.23M (37%).
| Geography | FY 2013 | FY 2014 |
|---|---|---|
| Americas | $9.42M | $9.38M |
| Apac Region | — | $8.61M |
| Apac | $7.49M | — |
| Emea Region | $5.10M | $7.24M |
| Total | $22.01M | $25.23M |
Forward Industries brought in $25.23M from its three regions in fiscal 2014, the year ended September 30, 2014. Forward Industries regrouped these regions after fiscal 2013, so the total does not compare directly with that year's $22.01M. Americas was the largest at $9.38M (37.2%), ahead of Apac Region at $8.61M (34.1%) and Emea Region at $7.24M (28.7%).
Compared with fiscal 2013, Emea Region grew 42.0% to $7.24M, while Americas fell 0.4% to $9.38M.
Forward Industries began breaking out Apac Region in fiscal 2014, when it brought in $8.61M. Forward Industries stopped reporting Apac as a separate region after fiscal 2013, when it brought in $7.49M.
United States was Forward Industries’s largest region in fiscal 2023, bringing in $27.12M of $36.69M (74%).
| Geography | FY 2013 | FY 2014 | FY 2016 | FY 2017 | FY 2020 | FY 2021 | FY 2023 |
|---|---|---|---|---|---|---|---|
| Emea Region | — | — | — | ||||
| Americas | — | — | — | ||||
| United States | $21.02M | $25.67M | $27.12M | ||||
| Apac Region | $5.09M | — | — | ||||
| Hong Kong | — | — | — | ||||
| China | — | $5.64M | $3.44M | ||||
| Germany | $3.38M | $2.79M | $3.00M | ||||
| Other | — | — | — | ||||
| Poland | $2.68M | $3.11M | $1.28M | ||||
| Other Foreign Countries | $2.32M | $1.81M | $1.85M | ||||
| Total | $34.48M | $39.02M | $36.69M |
Forward Industries brought in $36.69M from its five regions in fiscal 2023, the year ended September 30, 2023. That was down 6.0% from $39.02M in fiscal 2021, the previous year with figures. United States was the largest at $27.12M (73.9%), ahead of China at $3.44M (9.4%) and Germany at $3.00M (8.2%). The other two regions brought in $3.13M combined.
Compared with fiscal 2021, the previous year with figures, Germany grew fastest, up 7.6% to $3.00M, while Poland fell the most, down 59.0% to $1.28M.
Forward Industries began breaking out China in fiscal 2021, when it brought in $5.64M. Forward Industries stopped reporting Apac Region as a separate region after fiscal 2020, when it brought in $5.09M.
Forward Industries (FWDI) reports its revenue by segment and by geography. In fiscal 2025, Design was its largest segment, bringing in $13.61M (74.8% of the total), followed by Digital Assets at $4.58M (25.2%).
Design was Forward Industries' largest segment in fiscal 2025, bringing in $13.61M, or 74.8% of the $18.19M total across its two segments.
Americas was Forward Industries' largest region in fiscal 2014, bringing in $9.38M, or 37.2% of the $25.23M total across its three regions.
Every figure comes from Forward Industries' annual financial filings, as reported. Each line keeps the name Forward Industries gives it, and years follow its fiscal calendar.
Forward Industries' revenue by segment goes back to fiscal 2013, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.