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FWDIForward Industries

Crypto · Financial Services · Nasdaq
FWDI quote by TradingView
Headquarters
Austin, TX
CEO
Michael D. Pruitt
Next results
around Dec 10, 2026
Compare with peers → Embed

FWDI and 9 peers, year by year

The 9 Crypto companies closest to FWDI in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

5 years10 years Download CSV
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Crypto companies (up to 9):

Each company's latest fiscal year
CompanyYearRevenueSales growthGross marginOperating marginNet marginFCF marginReturn on equityDebt / equity
FWDI Forward Industries FY2025 $18.2M−9.0%28.5%−46.1%−918.1%−24.9%−11.4%-
SBET Sharplink FY2025 $28.1M+666%-n/mn/m−62.6%−30.4%-
BMNR Bitmine Immersion Technologies FY2025 $6.1M+84.1%-n/mn/m−85.5%4.0%-
UPXI Upexi FY2026 $25.0Mn/m89.5%−963.5%−984.3%−84.0%n/mn/m
BTCS BTCS FY2025 $16.5M+305%12.2%-−202.2%−59.4%−23.9%-
DFDV DeFi Development FY2025 $11.4M+442%-−319.7%−648.1%−157.8%−74.3%1.28
HSDT Solana Company FY2025 $6.0M+5.4%91.7%n/m−679.6%-−13.6%-
DJT Trump Media & Technology Group FY2025 $3.7M+1.8%-n/mn/m385.2%−43.2%0.58
TRON Tron Inc. FY2025 $4.7M+10.0%25.3%−53.1%−354.6%-−8.0%-
ASST Strive FY2024 $3.6M+129%-−620.7%−591.2%−592.3%−92.5%-
Revenuepeer median $6.1M
Sales growthpeer median +106%
Gross marginpeer median 57.4%
Operating marginpeer median −470.2%
Net marginpeer median −619.6%
FCF marginpeer median −84.0%
Return on equitypeer median −27.1%
Debt / equity

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep -$24.8M$34.5M$37.4M$34.5M$39.0M$38.2M$36.7M$20.0M$18.2M
SBET Dec ------$3.5M$5.0M$3.7M$28.1M
BMNR Aug -----$0$428K$645K$3.3M$6.1M
UPXI Jun ----$7.4M$24.1M$23.1M$36.4M$26.0M$15.8M
BTCS Dec $355K$4K---$1.2M$1.7M$1.3M$4.1M$16.5M
DFDV Dec ------$2.2M$2.0M$2.1M$11.4M
HSDT Dec --$478K$1.5M$661K$522K$787K$644K$520K$6.0M
DJT Dec ------$1.5M$4.1M$3.6M$3.7M
TRON Dec ------$6.1M$5.8M$4.3M$4.7M
ASST Dec -----$830K$343K$277K$3.6M-
Peer median-----$830K$1.7M$2.0M$3.6M$8.7M

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep --+39.3%+8.4%−7.8%+13.2%+8.5%−4.0%−17.7%−9.0%
SBET Dec -------+41.9%−26.1%+666%
BMNR Aug -------+50.9%+413%+84.1%
UPXI Jun -----+225%+85.0%+250%−28.7%−39.2%
BTCS Dec −29.8%−98.7%----+39.5%−20.8%+204%+305%
DFDV Dec -------−6.9%+4.8%+442%
HSDT Dec ---+213%−55.8%−21.0%+57.8%−22.2%−21.3%+5.4%
DJT Dec -------+181%−12.4%+1.8%
TRON Dec -------−5.2%−25.2%+10.0%
ASST Dec ------−58.6%−19.3%+129%-
Peer median------+48.7%−5.2%−12.4%+47.0%

Gross margin, FY2016 to FY2025

Gross profit / revenue.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep -16.9%19.0%17.6%19.3%20.8%23.0%22.8%25.9%28.5%
SBET Dec ------37.7%30.9%24.7%-
BMNR Aug ------−30.2%34.5%23.0%-
UPXI Jun ----34.7%49.4%64.5%57.7%49.3%68.7%
BTCS Dec 25.7%96.4%---77.9%74.8%73.1%23.2%12.2%
DFDV Dec ----------
HSDT Dec --100.0%43.4%41.3%42.9%41.2%9.5%−11.9%91.7%
DJT Dec ----------
TRON Dec ------20.3%22.9%19.8%25.3%
ASST Dec ----------
Peer median-----49.4%39.4%32.7%23.1%47.0%

Operating margin, FY2016 to FY2025

Operating income / revenue.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep -2.4%0.8%−8.3%−5.7%−2.0%1.5%0.4%−10.8%−46.1%
SBET Dec ------−409.3%−179.6%−130.1%n/m
BMNR Aug ------−400.8%−374.0%−73.9%n/m
UPXI Jun ----−65.3%5.9%−28.1%−33.7%−86.4%−79.1%
BTCS Dec −410.0%n/m--------
DFDV Dec ------−80.0%−170.0%−143.0%−319.7%
HSDT Dec --n/mn/mn/mn/mn/mn/mn/mn/m
DJT Dec ------n/m−386.5%n/mn/m
TRON Dec ------5.9%−35.4%−100.5%−53.1%
ASST Dec -----1.8%−188.1%n/m−620.7%-
Peer median------−134.0%−174.8%−115.3%−79.1%

Net margin, FY2016 to FY2025

Net income / revenue.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep -2.3%4.0%−9.6%−5.1%1.3%−3.6%−10.2%−9.8%−918.1%
SBET Dec ------−436.5%−287.6%275.8%n/m
BMNR Aug ------−468.9%−382.0%−99.5%n/m
UPXI Jun ----−72.6%12.4%−8.9%−48.0%−91.0%−86.5%
BTCS Dec n/mn/m---n/m−939.0%583.6%−31.2%−202.2%
DFDV Dec ------−58.7%−168.4%−129.9%−648.1%
HSDT Dec --n/m−653.8%n/mn/mn/mn/mn/m−679.6%
DJT Dec ------n/mn/mn/mn/m
TRON Dec ------5.4%−35.7%−100.6%−354.6%
ASST Dec -----1.8%−188.1%n/m−591.2%-
Peer median------−188.1%−108.2%−99.5%−354.6%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep $720K−$138K$901K−$2.0M−$331K−$596K$1.4M$905K$455K−$4.5M
SBET Dec ------−$6.0M$571K−$22.8M−$17.6M
BMNR Aug -----−$504K−$4.4M−$1.4M−$106K−$5.2M
UPXI Jun ----−$6.1M$1.5M−$5.6M−$735K−$1.0M−$8.8M
BTCS Dec −$843K−$1.5M−$508K--−$4.9M−$782K−$3.6M−$3.5M−$9.8M
DFDV Dec ------−$1.0M−$1.6M−$2.4M−$18.0M
HSDT Dec -−$19.5M−$20.1M−$21.3M−$11.8M−$13.4M−$14.3M−$10.4M−$11.0M-
DJT Dec ------−$24.3M−$9.7M−$66.0M$14.2M
TRON Dec ----------
ASST Dec -------−$3.8M−$21.6M-
Peer median-----−$2.7M−$5.6M−$2.6M−$7.3M−$9.3M

FCF margin, FY2016 to FY2025

Free cash flow / revenue.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep -−0.6%2.6%−5.4%−1.0%−1.5%3.6%2.5%2.3%−24.9%
SBET Dec ------−170.5%11.5%−623.0%−62.6%
BMNR Aug ------n/m−220.4%−3.2%−85.5%
UPXI Jun ----−82.2%6.3%−24.4%−2.0%−4.0%−55.7%
BTCS Dec −237.3%n/m---−401.6%−46.2%−266.3%−86.7%−59.4%
DFDV Dec ------−47.6%−79.7%−116.2%−157.8%
HSDT Dec --n/mn/mn/mn/mn/mn/mn/m-
DJT Dec ------n/m−235.7%n/m385.2%
TRON Dec ----------
ASST Dec -------n/m−592.3%-
Peer median------−46.9%−150.0%−101.5%−61.0%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep 7.4%6.5%12.4%−46.7%−27.0%7.0%−22.0%−142.8%−65.7%−11.4%
SBET Dec ------n/mn/mn/m−30.4%
BMNR Aug -----−42.8%−27.1%−39.4%−80.6%4.0%
UPXI Jun ----n/m14.0%−7.1%−62.8%n/m−15.2%
BTCS Dec n/mn/mn/mn/mn/m−132.6%−111.0%29.9%−3.7%−23.9%
DFDV Dec ------n/m−58.0%−77.9%−74.3%
HSDT Dec n/mn/mn/m−167.6%n/m−161.1%−172.6%n/mn/m−13.6%
DJT Dec -----n/mn/mn/m−43.9%−43.2%
TRON Dec ------n/m−49.8%−82.0%−8.0%
ASST Dec -----34.5%n/m−30.7%−92.5%-
Peer median-----−42.8%−69.0%−44.6%−79.2%−19.6%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.
CompanyFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
FWDI Sep -0.000.020.010.230.210.220.420.20-
SBET Dec ------0.69n/m0.00-
BMNR Aug ----------
UPXI Jun -------1.000.090.23
BTCS Dec n/m-n/m-------
DFDV Dec --------0.001.28
HSDT Dec ----------
DJT Dec ---------0.58
TRON Dec ----------
ASST Dec ----------
Peer median--------0.000.58

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out FWDI and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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.