Company: FGI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040149
Chunk: 103

Company: FGI Industries Ltd.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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 the Six Months EndedJune 30,As ofJune 30,As ofDecember 31,202520242025202420252024USD USDUSDUSDUSDUSDRevenue/ total assets by geographic locationUnited States$17,970,861 $18,039,583 $39,139,233 $37,637,488 $47,066,909 $47,935,433 Canada8,768,471 8,593,329 16,952,614 16,474,410 14,192,927 15,027,362 Europe3,636,110 2,659,858 6,741,104 5,855,046 2,112,212 1,625,994 Rest of World622,818 78,179 1,377,857 157,524 8,329,636 10,872,626 Total$30,998,260 $29,370,949 $64,210,808 $60,124,468 $71,701,684 $75,461,415 Shipping and Handling CostsShipping and handling costs are expensed as incurred and are included in selling and distribution expenses on the accompanying statement of operations. For the three months ended June 30, 2025 and 2024, shipping and handling expense was $342,981 and $253,742, respectively. For the six months ended June 30, 2025 and 2024, shipping and handling expense was $699,135 and $500,851, respectively. Share-based compensationThe Company accounts for share-based compensation in accordance with ASC 718, Compensation — Stock Compensation (“ASC 718”). In accordance with ASC 718, the Company determines whether an award should be classified and accounted for as a liability award or an equity award. All the Company’s share-based awards were classified as equity awards and are recognized in the consolidated financial statements based on their grant date fair values.The Company has elected to recognize share-based compensation using the straight-line method for all share-based awards granted over the requisite service period, which is the vesting period. The Company accounts for forfeitures as they occur in accordance with ASC 718. The Company determines the fair value of the stock options granted to employees. The 

15

Black Scholes Model is applied in determining the estimated fair value of the options granted to employees and non-employees. The Company recognized share-based compensation of $124