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FWDIForward Industries

Crypto · Financial Services · Nasdaq
Headquarters
Austin, TX
CEO
Michael D. Pruitt
Next results
around Dec 10, 2026
Compare with peers → Embed
RevenueFY2017–25 $18.2M−9.0% FY2024: $20.0M 10-K FY2025 · XBRL Net incomeFY2017–25 −$167.0M FY2024: −$2.0M 10-K FY2025 · XBRL Free cash flowFY2017–25 −$4.5M FY2024: $455K 10-K FY2025 · XBRL Operating marginFY2017–25 -46.1%−35.4 pts 2.4% in FY2017 10-K FY2025 · XBRL

What changed

10-K filed Dec 11, 2025 against Dec 27, 2024
AreaWhat changedSource
Risk factors127 new paragraphs, nothing like them in the previous 10-K10-K Item 1A
Auditor change8-K item 4.01 (change in certifying accountant) filed 2025-03-3110-K · XBRL
Going concern language“Other Liquidity Factors In the prior reporting period, we identified certain conditions that raised substantial doubt about our ability to continue as a going concern.”10-K · XBRL
Critical audit matters changedNew this year: Evaluation of audit evidence pertaining to the existence and control of the digital assets (“We identified the evaluation of audit evidence pertaining to the existence of the digital assets and whether the Company controls the digital assets as a critical audit matter. The principal considerations for our determination of the critical audit matter is as the result of especially subjective a”). No longer listed: F-2; We gained an understanding of and evaluated the design and implementation of the Company’s process to develop forecasted cash; Evaluating the reasonableness of the Company’s forecasted revenue, expenses, and cash flows by comparing those forecasts to; Evaluating management’s ability to accurately forecast future operating results by comparing the Company’s historical10-K · XBRL
Accounting checks6 other checks clear, 3 worth a look10-K · XBRL
InsidersNo open-market buys in the last 90 daysForm 4
Filings1 in the last 30 daysEDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Dec 11, 2025

Paragraphs in Risk Factors that were not in the 10-K filed 2024-12-27. Quoted as filed.

  1. Our business is subject to numerous risks and uncertainties that you should consider before investing in our common stock. Set forth below is a summary of the principal risks we face: We adopted a new business strategy dedicated to SOL which exposes us to significant risk as there is no assurance that we will be able to successfully…
    10-K, Item 1A
All 127 new paragraphs →

Accounting checks

latest 10-K

6 of 9 clear 3 worth a look. Checks, not verdicts.

  • !
    Auditor change8-K item 4.01 (change in certifying accountant) filed 2025-03-31
  • !
    Going concern language“Other Liquidity Factors In the prior reporting period, we identified certain conditions that raised substantial doubt about our ability to continue as a going concern.”
  • !
    Critical audit matters changedNew this year: Evaluation of audit evidence pertaining to the existence and control of the digital assets (“We identified the evaluation of audit evidence pertaining to the existence of the digital assets and whether the Company controls the digital assets as a critical audit matter. The principal considerations for our determination of the critical audit matter is as the result of especially subjective a”). No longer listed: F-2; We gained an understanding of and evaluated the design and implementation of the Company’s process to develop forecasted cash; Evaluating the reasonableness of the Company’s forecasted revenue, expenses, and cash flows by comparing those forecasts to; Evaluating management’s ability to accurately forecast future operating results by comparing the Company’s historical
  • ✓
    Receivables -29.2% vs revenue -9.0% (-20.1 pts)
  • ✓
    No 8-K item 4.02 in the last 2 years
  • ✓
    No NT 10-K or NT 10-Q in the last 2 years
  • ✓
    No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • ✓
    No 8-K item 2.06 in the last 2 years
  • ✓
    No 8-K item 1.03 in the last 2 years
How each check works, with sources →

In the last 30 days

All filings →
  • Nov 9, 2026Offering At-the-market program: up to $4.0B of common stock 424B5 · This prospectus, as amended and supplemented by this amendment, describe the offering of shares of our Common Stock from time to time through the Agents, acting as sales agents or, if separately agreed, as principals, pursuant to an at-the-market offering.

Work on FWDI in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/FWDI/export.csv") into a cell.