Company: FGI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040149
Chunk: 76

Company: FGI Industries Ltd.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 net income (loss) are as follows:

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Kitchen and Bath SegmentFor the Three Months EndedJune 30,For the Six Months EndedJune 30,2025202420252024USDUSDUSDUSDRevenue$30,998,260 $29,370,949 $64,210,808 $60,124,468 Less:Cost of revenue22,291,653 20,407,647 46,603,943 42,747,683 Selling and distribution expenses6,209,728 6,260,847 13,372,906 12,391,733 General and administrative expenses2,844,715 2,622,020 5,545,928 4,904,878 Research and development expenses484,502 530,797 801,228 851,470 Other segment items(1)746,703 (128,532)1,020,931 66,104 benefit of income taxes(214,576)(298,415)(954,106)(276,126)Segment net loss(1,364,465)(23,415)(2,180,022)(561,274)Reconciliation of profit or lossAdjustments and reconciling items— — — — Consolidated net loss$(1,364,465)$(23,415)$(2,180,022)$(561,274)(1) Other segment items included interest income, interest expense and non-recurring other income and expenses.

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Item 2.   Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The disclosures in this Quarterly Report on Form 10-Q are complementary to those made in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2025 (the “2024 Form 10-K”). You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and related notes appearing in this Quarterly Report on Form 10-Q as well as our audited financial statements, notes thereto and Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our 2024 Form 10-K. Some of the information contained in this discussion and analysis or set forth elsewhere in this Quarterly Report on Form 10-Q, including information with respect to our plans and strategy for our business and related financing, includes forward-looking statements that involve risks and uncertainties. As a result