A research filter, not a predictor — not financial advice. Grades rank growth stocks on evidence-based quality signals from end-of-day data; they are not buy/sell calls or price forecasts. Always do your own research.

Forward Industries, Inc. FWDI

Promising (early) broader-coverage candidate · Forward Industries, Inc.

On FrontierLab's discovery record since 2026-09-18 (2 weeks ago) — when this name first surfaced. (distinct from the snapshot date below)

Auto-graded broader coverage — sourced by an automated screen and graded on default bands, not the sector-calibrated bands the curated screener uses. A "Promising (early)" here is NOT the same bar as a curated grade; these are auto-screened candidates for your own research, shown as of their surface date (2026-09-19), not the curated Frontier signal.

⚡ Surfaced on a price move — momentum is where to look, not a buy signal. The move that surfaced this name does not make it a good entry.

⚠ Pump risk: parabolic/spike characteristics detected in the screen flags. Treat any positive grade with extra skepticism.

Key quality signals

Revenue growth (YoY)	202.4%
Gross margin	70.6%
Gross profits / assets	0.06
Rule of 40	90.4
Net margin	-112%
Cash runway (months)	8.7
PEG	—
Price / sales	10.7

Quality checklist

✓ Revenue growth — 202.4% (pass ≥ 20%)
✓ Capital efficiency
✓ Gross margin — 70.6% (pass ≥ 60%)
✓ Gross-margin trend — 61 (pass ≥ 2)
~ Share dilution — 678.5%

Fundamentals — snapshot as of 2026-09-19

Stage	Early
Share issuance (YoY)	678.5% · heavy issuance
Moat	—
TAM	—
P/E (trailing)	—
EPS (trailing)	$-11.88
Burn multiple	0.3
Gross-margin trend (pts)	61
Cash / assets	0.02
Net debt / EBITDA	—
Statements as of	Q3 FY2026 · filed 2026-08-12

Momentum context — a snapshot from 2026-09-19, not current

Price at surface	$7.70 (as of 2026-09-19)
52-week range	$3.48 – $33
% off 52-wk high	-76.7%
RSI (14)	68
Relative volume	2.6×

Risk flags

Burning cash — operating margin is negative.Cash runway ~9 months at current burn — a raise (and dilution) looks likely.Heavy dilution (~679%/yr) — top-decile share issuers have historically underperformed.Hyper-expansion — assets up ~7164% in a year; aggressive expanders have historically lagged.Parabolic one-day spike (+24%) in the last month — extreme single-day moves tend to mean-revert.

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Data as of 2026-09-19 (end-of-day). How grades are computed →