Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 106

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 1
Chunk 106
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, 2024 COMPARED TO THE THREE MONTHS ENDED DECEMBER 31, 2023

The table below summarizes our consolidated results from continuing
operations for the three months ended December 31, 2024 (the “2025 Quarter”) as compared to the three months ended December
31, 2023 (the “2024 Quarter). All dollar amounts and percentages presented herein have been rounded to approximate values.

The table below summarizes our consolidated results
of continuing operations for the 2025 Quarter as compared to the 2024 Quarter:

    Consolidated Results of Operations 

    2025
Quarter  
    2024
Quarter  
    Change ($)  
    Change (%) 
  
    Revenues, net 
    $4,624,000  
    $5,142,000  
    $(518,000) 
     (10.1%)
  
    Cost of sales 
     3,491,000  
     3,700,000  
     (209,000) 
     (5.6%)
  
    Gross profit 
     1,133,000  
     1,442,000  
     (309,000) 
     (21.4%)
  
    Sales and marketing expenses 
     160,000  
     209,000  
     (49,000) 
     (23.4%)
  
    General and administrative expenses 
     1,646,000  
     1,598,000  
     48,000  
     3.0% 
  
    Goodwill impairment 
     225,000  
     –  
     225,000  
     – 
  
    Loss from operations 
     (898,000) 
     (365,000) 
     (533,000) 
     146.0% 
  
    Other (income) / expense, net 
     –  
     –  
     –  
     – 
  
    Loss from continuing operations 
    $(898,000) 
    $(365,000) 
    $(533,000) 
     146.0% 

The discussion that follows
below provides further details about our results from continuing operations for the 2025 Quarter as compared to the 2024 Quarter.

The decrease in net revenues
in the