Forward Industries Inc (OQ:FORD)
Business Focus: Handbags & Luggage
| Sector: Consumer Cyclicals | Industry: Apparel & Accessories |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 700 Veterans Memorial Hwy, Suite 100 HAUPPAUGE NY 11788 |
| Tel: | N/A |
| Website: | https://www.forwardindustries.com |
| IR: | See website |
| Key People | ||
| Terence Bernard Wise Chairman of the Board, Chief Executive Officer | Kathleen Weisberg Chief Financial Officer | Tom Kramer Chief Executive Officer - Kablooe, Inc | Paul Severino President of IPS |
| Business Overview |
| Forward Industries, Inc. is a design, sourcing and distribution company serving medical and technology customers worldwide. The Company operates through the two segments: OEM distribution and design. The Company's design segment provides hardware and software product design and engineering services to customers predominantly located in the United States. The Company's OEM distribution segment sources and sells carrying cases and other accessories for medical monitoring and diagnostic kits, as well as a variety of other portable electronic and non-electronic devices to original equipment manufacturers (OEMs), or their contract manufacturers worldwide, that either package its products as accessories in box together with their branded product offerings or sell them through their retail distribution channels. Its subsidiaries include Forward Industries (IN), Inc., Forward Industries (Switzerland) GmbH, Forward Industries UK Limited and others. |
| Financial Overview |
| For the three months ended 31 December 2023, Forward Industries Inc revenues decreased 27% to $7.2M. Net loss before extraordinary items increased from $91K to $381K. Revenues reflect OEM Distribution segment decrease of 54% to $2M, Design segment decrease of 4% to $5.1M. Higher net loss reflects Design segment income decrease of 39% to $266K, OEM Distribution segment income decrease of 63% to $41K. |
| Employees: | 100 as of Nov 30, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $3.21M as of Dec 31, 2023 |
| Annual revenue (TTM): | $33.03M as of Dec 31, 2023 |
| EBITDA (TTM): | $0.57M as of Dec 31, 2023 |
| Net annual income (TTM): | $0.21M as of Dec 31, 2023 |
| Free cash flow (TTM): | $1.19M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 10,061,185 as of Jan 31, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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