Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 94

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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,122)Adjustments:Non-recurring IPO-related share-based compensation— 59,719 19,906 179,157 Business expansion expense— 61,770 — 185,310 Adjusted Operating Income (Loss)$369,723 $55,663 $(1,723,568)$(472,655)Revenue$35,848,861 $36,099,179 $100,059,669 $96,223,647 Adjusted Operating Margins (%)1.0 0.2 (1.7)(0.5)

For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024USDUSDUSDUSDLoss before income taxes$(68,467)$(430,711)$(3,202,595)$(1,268,111)Adjustments:Non-recurring IPO-related share-based compensation— 59,719 19,906 179,157 Business expansion expense— 61,770 — 185,310 Adjusted loss before income taxes(68,467)(309,222)(3,182,689)(903,644)Less: income taxes at 18% rate(12,324)(55,660)(572,884)(162,656)Less: net loss attributable to non-controlling shareholders(296,734)(148,111)(616,140)(460,761)Adjusted Net Income (Loss)$240,591 $(105,451)$(1,993,665)$(280,227)

Beginning in the first quarter of 2025, we have revised the presentation of non-GAAP measures to provide more meaningful insight into the Company's performance. Historical comparative figures have been adjusted to reflect the current presentation format. These changes are intended to better align with how management evaluates results and makes operating decisions. Reconciliations to the most directly comparable GAAP measures are provided to support transparency and comparability.

Item 3.   Quantitative and Qualitative Disclosures About Market Risk.

Not required for smaller reporting companies.

Item 4.   Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

The term “disclosure controls and procedures,” as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), means our controls and other procedures that are designed to ensure that information required to be disclosed by us in the