| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 |
|---|---|---|---|
| Net loss | -283,082,136 | -585,651,086 | -166,974,340 |
| Share-based compensation | 797,864 | 17,159 | 2,871,756 |
| Depreciation and amortization | 23,272 | 25,638 | 332,225 |
| Credit loss expense | 0 | 0 | 105,516 |
| Loss on digital assets | -201,706,226 | -560,212,231 | NaN |
| Impairment of digital assets | 85,093,047 | 33,044,322 | NaN |
| Non-cash digital asset revenue, net | 8,630,634 | 16,461,936 | 4,411,859 |
| Change in fair value of digital assets | NaN | NaN | -160,035,105 |
| Change in fair value of warrant liability | NaN | NaN | -658,332 |
| Goodwill and intangible asset impairment | NaN | NaN | 2,026,311 |
| Gain on sale of oem segment | NaN | NaN | 1,405,972 |
| Goodwill impairment | 0 | 0 | NaN |
| Accounts receivable | -735,397 | 1,199,050 | -624,359 |
| Contract assets | -524,727 | 3,165 | -208,729 |
| Prepaid expenses and other current assets | -122,724 | 1,796,003 | -27,284 |
| Accounts payable | -108,082 | -50,441 | 229,463 |
| Accounts payable-related party | -1,064,652 | 692,921 | 923,513 |
| Deferred income | -108,077 | 427,660 | -106,914 |
| Net changes in operating lease liabilities | -2,592 | -2,090 | 582 |
| Accrued expenses and other current liabilities | -805,760 | 2,814,689 | -42,330 |
| Net cash used in operating activities-continuing operations | -4,798,676 | -7,929,151 | -4,898,240 |
| Net cash used in operating activities-discontinued operations | 0 | 0 | 396,153 |
| Cash paid for sale of oem segment | NaN | NaN | 650,000 |
| Net cash used in operating activities | -4,798,676 | -7,929,151 | -4,502,087 |
| Purchases of property and equipment | 3,364 | 0 | 25,774 |
| Purchases of digital assets | 926,751 | 335,050,009 | 900,790,843 |
| Sales of digital assets | 4,094,447 | 333,973,402 | NaN |
| Proceeds from waiver and leak-out agreement | NaN | NaN | 33,000,000 |
| Net cash provided by / (used in) investing activities | 3,164,332 | -1,076,607 | -901,466,617 |
| Proceeds from atm, net | NaN | NaN | 3,962,018 |
| Proceeds from securities purchase agreement, net | NaN | NaN | 900,103,815 |
| Proceeds from issuance of series b preferred stock and warrants, net | NaN | NaN | 970,946 |
| Proceeds from equity line of credit, net | NaN | NaN | 2,360,869 |
| Fees associated with securities purchase agreement | 0 | 229,699 | 737,400 |
| Proceeds from atm, net | 0 | 7,457,186 | 2,237,565 |
| Proceeds from loans payable-related party | 40,000,000 | NaN | NaN |
| Proceeds from stock options exercised | 18,650 | 26,110 | 60,739 |
| Treasury stock purchases | 47,139,381 | 10,882,955 | NaN |
| Exercise of pre-funded warrants | 6 | NaN | NaN |
| Repayment of note payable to forward china (related party) | NaN | NaN | 600,000 |
| Deferred financing costs associated with atm | 0 | 143,778 | NaN |
| Net cash used in financing activities | -7,120,725 | -3,773,136 | 941,358,552 |
| Net decrease in cash | -8,755,069 | -12,778,894 | 35,389,848 |
| Cash at beginning of period | 25,388,079 | 38,166,973 | 2,777,125 |
| Cash at end of period | 16,633,010 | 25,388,079 | 38,166,973 |
Forward Industries, Inc. (FWDI)
Forward Industries, Inc. (FWDI)