Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 140

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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 of performance and the adjustments we make to these non-GAAP measures provide investors further insight into our profitability and additional perspectives in comparing our performance over time on a consistent basis. 

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The following table reconciles Income from Operations to Adjusted Income from Operations and Adjusted Operating Margins, as well as Net income to Adjusted Net Income for the periods presented.

For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024USDUSDUSDUSDLoss from operations$369,723 $(65,826)$(1,743,474)$(837,122)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