v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 139,448 $ 105,996
Accounts receivable, less allowance of $5,369 in 2026 and $3,749 in 2025 369,469 343,559
Other receivables 6,104 6,147
Prepaid expenses 26,465 28,045
Other current assets 41,630 37,254
Total current assets 583,116 521,001
Property and equipment, net of accumulated depreciation and amortization of $352,920 in 2026 and $340,021 in 2025 274,670 297,882
Operating lease right-of-use assets 361,426 412,535
Goodwill 278,706 522,712
Other intangible assets, net of accumulated amortization of $346,229 in 2026 and $301,453 in 2025 860,915 906,791
Other long-term assets 52,012 58,023
Total assets 2,410,845 2,718,944
Current liabilities:    
Accounts payable 118,651 121,752
Accrued expenses 118,551 114,422
Other current liabilities 81,911 69,130
Current portion of finance lease obligations 14,961 15,995
Current portion of operating lease liabilities 107,497 107,026
Total current liabilities 441,571 428,325
Long-term debt 1,693,340 1,687,248
Liabilities under Tax Receivable Agreement 26,794 11,548
Finance lease obligations, less current portion 16,804 22,387
Operating lease liabilities, less current portion 277,379 327,011
Deferred income taxes 24,358 27,221
Other long-term liabilities 53,265 53,540
Total liabilities 2,533,511 2,557,280
Shareholders' (deficit) equity:    
Preferred stock, value 0 0
Common stock, $0.01 par value; 50,000 shares authorized; 33,736 and 31,327 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 337 313
Additional paid-in capital 575,818 559,551
Accumulated deficit (690,324) (447,100)
Accumulated other comprehensive income (1,261) 580
Total Forward Air shareholders' (deficit) equity (115,430) 113,344
Noncontrolling interest (7,236) 48,320
Total shareholders' (deficit) equity (122,666) 161,664
Total liabilities and shareholders' (deficit) equity 2,410,845 2,718,944
Preferred Class B    
Shareholders' (deficit) equity:    
Preferred stock, value $ 0 $ 0