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Side-by-side financial comparison of Forward Industries, Inc. (FWDI) and SS Innovations International, Inc. (SSII). Click either name above to swap in a different company.
Forward Industries, Inc. is the larger business by last-quarter revenue ($21.4M vs $14.5M, roughly 1.5× SS Innovations International, Inc.). SS Innovations International, Inc. runs the higher net margin — -17.0% vs -2732.2%, a 2715.2% gap on every dollar of revenue. On growth, Forward Industries, Inc. posted the faster year-over-year revenue change (224.0% vs 79.1%). Over the past eight quarters, SS Innovations International, Inc.'s revenue compounded faster (99.9% CAGR vs 74.6%).
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.
SS Innovations International, Inc. is a global medical technology enterprise specializing in the research, development and manufacturing of innovative surgical robotic systems. It provides high-precision, accessible robotic platforms for minimally invasive surgery, catering to healthcare facilities across multiple regions to boost surgical outcomes and cut procedural burdens.
FWDI vs SSII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.4M | $14.5M |
| Net Profit | $-585.7M | $-2.5M |
| Gross Margin | 78.6% | 43.9% |
| Operating Margin | -2722.8% | -3.7% |
| Net Margin | -2732.2% | -17.0% |
| Revenue YoY | 224.0% | 79.1% |
| Net Profit YoY | -82611.5% | -28.5% |
| EPS (diluted) | $-5.91 | $-0.01 |
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 | $21.4M | $14.5M | ||
| Q3 25 | $7.9M | $12.8M | ||
| Q2 25 | $2.5M | $10.0M | ||
| Q1 25 | $3.1M | $5.1M | ||
| Q4 24 | $6.6M | $8.1M | ||
| Q3 24 | — | $4.4M | ||
| Q2 24 | $7.8M | $4.5M | ||
| Q1 24 | $5.1M | $3.6M |
| Q4 25 | $-585.7M | $-2.5M | ||
| Q3 25 | $-164.0M | $-3.7M | ||
| Q2 25 | $-850.0K | $-256.7K | ||
| Q1 25 | $-1.5M | $-5.7M | ||
| Q4 24 | $-708.1K | $-1.9M | ||
| Q3 24 | — | $-3.2M | ||
| Q2 24 | $-399.6K | $-4.1M | ||
| Q1 24 | $-553.2K | $-9.8M |
| Q4 25 | 78.6% | 43.9% | ||
| Q3 25 | 61.1% | 48.1% | ||
| Q2 25 | — | 59.1% | ||
| Q1 25 | -5.7% | 21.2% | ||
| Q4 24 | 17.1% | 48.9% | ||
| Q3 24 | — | 52.8% | ||
| Q2 24 | 16.8% | 31.9% | ||
| Q1 24 | 26.2% | 20.0% |
| Q4 25 | -2722.8% | -3.7% | ||
| Q3 25 | -39.2% | -14.3% | ||
| Q2 25 | -102.6% | 1.0% | ||
| Q1 25 | -58.3% | -115.6% | ||
| Q4 24 | -13.6% | -22.7% | ||
| Q3 24 | — | -73.1% | ||
| Q2 24 | -5.9% | -90.9% | ||
| Q1 24 | -12.2% | -270.3% |
| Q4 25 | -2732.2% | -17.0% | ||
| Q3 25 | -2063.6% | -29.0% | ||
| Q2 25 | -34.1% | -2.6% | ||
| Q1 25 | -46.5% | -111.0% | ||
| Q4 24 | -10.7% | -23.7% | ||
| Q3 24 | — | -74.0% | ||
| Q2 24 | -5.1% | -91.8% | ||
| Q1 24 | -10.9% | -270.5% |
| Q4 25 | $-5.91 | $-0.01 | ||
| Q3 25 | $-21.86 | $-0.02 | ||
| Q2 25 | $-0.77 | $0.00 | ||
| Q1 25 | $-1.32 | $-0.03 | ||
| Q4 24 | $-0.64 | $-0.01 | ||
| Q3 24 | — | $-0.02 | ||
| Q2 24 | $-0.36 | $-0.02 | ||
| Q1 24 | $-0.50 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $3.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $880.9M | $38.2M |
| Total Assets | $892.9M | $74.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $3.2M | ||
| Q3 25 | — | $5.7M | ||
| Q2 25 | — | $11.4M | ||
| Q1 25 | — | $15.9M | ||
| Q4 24 | — | $466.5K | ||
| Q3 24 | — | $220.4K | ||
| Q2 24 | — | $608.2K | ||
| Q1 24 | — | $948.1K |
| Q4 25 | $880.9M | $38.2M | ||
| Q3 25 | $1.5B | $39.6M | ||
| Q2 25 | $3.4M | $42.0M | ||
| Q1 25 | $3.6M | $40.6M | ||
| Q4 24 | $2.3M | $13.5M | ||
| Q3 24 | — | $13.7M | ||
| Q2 24 | $1.4M | $14.8M | ||
| Q1 24 | $1.8M | $16.7M |
| Q4 25 | $892.9M | $74.2M | ||
| Q3 25 | $1.5B | $69.6M | ||
| Q2 25 | $8.3M | $70.0M | ||
| Q1 25 | $12.3M | $63.5M | ||
| Q4 24 | — | $42.4M | ||
| Q3 24 | — | $39.0M | ||
| Q2 24 | $15.2M | $35.7M | ||
| Q1 24 | $15.2M | $35.2M |
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 | $-7.9M | $-1.5M |
| Free Cash FlowOCF − Capex | — | $-3.2M |
| FCF MarginFCF / Revenue | — | -22.3% |
| Capex IntensityCapex / Revenue | 0.0% | 11.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-22.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.9M | $-1.5M | ||
| Q3 25 | $-4.5M | $-7.5M | ||
| Q2 25 | $-1.2M | $-3.5M | ||
| Q1 25 | $-537.6K | $-6.1M | ||
| Q4 24 | $-434.3K | $-3.3M | ||
| Q3 24 | — | $-2.5M | ||
| Q2 24 | $436.0K | $-1.0M | ||
| Q1 24 | — | $-2.7M |
| Q4 25 | — | $-3.2M | ||
| Q3 25 | $-4.5M | $-8.2M | ||
| Q2 25 | $-1.2M | $-3.8M | ||
| Q1 25 | $-539.0K | $-7.0M | ||
| Q4 24 | $-439.7K | $-3.4M | ||
| Q3 24 | — | $-4.2M | ||
| Q2 24 | $426.8K | $-3.1M | ||
| Q1 24 | — | $-2.8M |
| Q4 25 | — | -22.3% | ||
| Q3 25 | -57.0% | -64.1% | ||
| Q2 25 | -50.0% | -37.7% | ||
| Q1 25 | -17.3% | -136.2% | ||
| Q4 24 | -6.6% | -41.7% | ||
| Q3 24 | — | -96.9% | ||
| Q2 24 | 5.5% | -69.5% | ||
| Q1 24 | — | -76.9% |
| Q4 25 | 0.0% | 11.8% | ||
| Q3 25 | 0.3% | 5.9% | ||
| Q2 25 | 0.8% | 3.2% | ||
| Q1 25 | 0.0% | 17.0% | ||
| Q4 24 | 0.1% | 1.5% | ||
| Q3 24 | — | 38.8% | ||
| Q2 24 | 0.1% | 46.8% | ||
| Q1 24 | — | 3.5% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FWDI
| CODM | $17.4M | 81% |
| Design Segment | $4.1M | 19% |
SSII
| System Sales | $13.4M | 92% |
| Other | $1.2M | 8% |
