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Side-by-side financial comparison of Expensify, Inc. (EXFY) and Forward Industries, Inc. (FWDI). Click either name above to swap in a different company.
Expensify, Inc. is the larger business by last-quarter revenue ($35.2M vs $21.4M, roughly 1.6× Forward Industries, Inc.). On growth, Forward Industries, Inc. posted the faster year-over-year revenue change (224.0% vs -4.9%). Over the past eight quarters, Forward Industries, Inc.'s revenue compounded faster (74.6% CAGR vs 2.4%).
Expensify, Inc. is a software company that develops an expense management system for personal and business use. Expensify also offers a business credit card called the Expensify Card.
Melrose Industries plc is a British aerospace manufacturing company based in Birmingham, England. It is the parent company of GKN Aerospace. The company's shares are listed on the London Stock Exchange as a constituent of the FTSE 100 Index.
EXFY vs FWDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $21.4M |
| Net Profit | — | $-585.7M |
| Gross Margin | 49.2% | 78.6% |
| Operating Margin | -11.2% | -2722.8% |
| Net Margin | — | -2732.2% |
| Revenue YoY | -4.9% | 224.0% |
| Net Profit YoY | — | -82611.5% |
| EPS (diluted) | $-0.07 | $-5.91 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $35.2M | $21.4M | ||
| Q3 25 | $35.1M | $7.9M | ||
| Q2 25 | $35.8M | $2.5M | ||
| Q1 25 | $36.1M | $3.1M | ||
| Q4 24 | $37.0M | $6.6M | ||
| Q3 24 | $35.4M | — | ||
| Q2 24 | $33.3M | $7.8M | ||
| Q1 24 | $33.5M | $5.1M |
| Q4 25 | — | $-585.7M | ||
| Q3 25 | $-2.3M | $-164.0M | ||
| Q2 25 | $-8.8M | $-850.0K | ||
| Q1 25 | $-3.2M | $-1.5M | ||
| Q4 24 | — | $-708.1K | ||
| Q3 24 | $-2.2M | — | ||
| Q2 24 | $-2.8M | $-399.6K | ||
| Q1 24 | $-3.8M | $-553.2K |
| Q4 25 | 49.2% | 78.6% | ||
| Q3 25 | 49.6% | 61.1% | ||
| Q2 25 | 51.9% | — | ||
| Q1 25 | 50.6% | -5.7% | ||
| Q4 24 | 51.0% | 17.1% | ||
| Q3 24 | 51.6% | — | ||
| Q2 24 | 56.9% | 16.8% | ||
| Q1 24 | 56.5% | 26.2% |
| Q4 25 | -11.2% | -2722.8% | ||
| Q3 25 | -6.4% | -39.2% | ||
| Q2 25 | -28.9% | -102.6% | ||
| Q1 25 | -4.1% | -58.3% | ||
| Q4 24 | 1.3% | -13.6% | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 0.7% | -5.9% | ||
| Q1 24 | -5.3% | -12.2% |
| Q4 25 | — | -2732.2% | ||
| Q3 25 | -6.6% | -2063.6% | ||
| Q2 25 | -24.6% | -34.1% | ||
| Q1 25 | -8.8% | -46.5% | ||
| Q4 24 | — | -10.7% | ||
| Q3 24 | -6.2% | — | ||
| Q2 24 | -8.3% | -5.1% | ||
| Q1 24 | -11.3% | -10.9% |
| Q4 25 | $-0.07 | $-5.91 | ||
| Q3 25 | $-0.03 | $-21.86 | ||
| Q2 25 | $-0.10 | $-0.77 | ||
| Q1 25 | $-0.03 | $-1.32 | ||
| Q4 24 | $-0.03 | $-0.64 | ||
| Q3 24 | $-0.02 | — | ||
| Q2 24 | $-0.03 | $-0.36 | ||
| Q1 24 | $-0.04 | $-0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.1M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $132.7M | $880.9M |
| Total Assets | $186.0M | $892.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.1M | — | ||
| Q3 25 | $61.5M | — | ||
| Q2 25 | $60.5M | — | ||
| Q1 25 | $59.6M | — | ||
| Q4 24 | $48.8M | — | ||
| Q3 24 | $39.2M | — | ||
| Q2 24 | $53.2M | — | ||
| Q1 24 | $49.3M | — |
| Q4 25 | $132.7M | $880.9M | ||
| Q3 25 | $135.7M | $1.5B | ||
| Q2 25 | $131.8M | $3.4M | ||
| Q1 25 | $134.7M | $3.6M | ||
| Q4 24 | $128.2M | $2.3M | ||
| Q3 24 | $119.9M | — | ||
| Q2 24 | $114.0M | $1.4M | ||
| Q1 24 | $106.5M | $1.8M |
| Q4 25 | $186.0M | $892.9M | ||
| Q3 25 | $186.8M | $1.5B | ||
| Q2 25 | $187.1M | $8.3M | ||
| Q1 25 | $189.2M | $12.3M | ||
| Q4 24 | $173.7M | — | ||
| Q3 24 | $176.2M | — | ||
| Q2 24 | $192.9M | $15.2M | ||
| Q1 24 | $184.8M | $15.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.2M | $-7.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2M | $-7.9M | ||
| Q3 25 | $4.2M | $-4.5M | ||
| Q2 25 | $8.9M | $-1.2M | ||
| Q1 25 | $4.8M | $-537.6K | ||
| Q4 24 | $7.4M | $-434.3K | ||
| Q3 24 | $3.7M | — | ||
| Q2 24 | $9.3M | $436.0K | ||
| Q1 24 | $3.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | — | $-1.2M | ||
| Q1 25 | — | $-539.0K | ||
| Q4 24 | — | $-439.7K | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $426.8K | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -57.0% | ||
| Q2 25 | — | -50.0% | ||
| Q1 25 | — | -17.3% | ||
| Q4 24 | — | -6.6% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 0.0% | 0.1% | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | 0.1% | ||
| Q1 24 | 0.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXFY
Segment breakdown not available.
FWDI
| CODM | $17.4M | 81% |
| Design Segment | $4.1M | 19% |
