Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 184,932 $ 105,996
Accounts receivable, less allowance of $4,982 and $3,749 as of September 30, 2026 and December 31, 2025, respectively 392,442 343,559
Other receivables 4,172 6,147
Prepaid expenses 26,102 28,045
Other current assets 41,526 37,254
Total current assets 649,174 521,001
Property and equipment, net of accumulated depreciation and amortization of $363,335 and $340,021 as of September 30, 2026 and December 31, 2025, respectively 264,087 297,882
Operating lease right-of-use assets 347,006 412,535
Goodwill 278,706 522,712
Other intangible assets, net of accumulated amortization of $367,129 and $301,453 as of September 30, 2026 and December 31, 2025, respectively 836,815 906,791
Other long-term assets 56,696 58,023
Total assets 2,432,484 2,718,944
Current liabilities:    
Accounts payable 124,601 121,752
Accrued expenses 149,584 114,422
Other current liabilities 65,601 69,130
Current portion of finance lease liabilities 14,464 15,995
Current portion of operating lease liabilities 104,778 107,026
Total current liabilities 459,028 428,325
Long-term debt 1,696,511 1,687,248
Liabilities under Tax Receivable Agreement 26,794 11,548
Finance lease liabilities, less current portion 14,632 22,387
Operating lease liabilities, less current portion 265,636 327,011
Deferred income taxes 24,162 27,221
Other long-term liabilities 54,662 53,540
Total liabilities 2,541,425 2,557,280
Shareholders' (deficit) equity:    
Preferred stock, value 0 0
Common stock, $0.01 par value; 50,000 shares authorized; 33,750 and 31,327 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 337 313
Additional paid-in capital 578,788 559,551
Accumulated deficit (679,001) (447,100)
Accumulated other comprehensive income 140 580
Total Forward Air shareholders' (deficit) equity (99,736) 113,344
Noncontrolling interest (9,205) 48,320
Total shareholders' (deficit) equity (108,941) 161,664
Total liabilities and shareholders' (deficit) equity 2,432,484 2,718,944
Preferred Class B    
Shareholders' (deficit) equity:    
Preferred stock, value $ 0 $ 0