Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 168

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 168
---
 on service conditions, provided that the amount of compensation cost recognized at any date is at least equal to the portion of the grant date fair value of the equity awards that are vested at that date.The following table sets forth the amount of share-based compensation expense included in each of the relevant financial statement line items:For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024USDUSDUSDUSDSelling and distribution expenses$17,567 $42,668 $71,022 $116,584 General and administrative expenses96,485 165,838 243,959 420,013 Total share-based compensation expenses$114,052 $208,506 $314,981 $536,597 As of September 30, 2025, there was $1,148,381 in total unrecognized employee share-based compensation expense related to unvested options and RSUs, which may be adjusted for actual forfeitures occurring in the future. Total unrecognized compensation cost may be recognized over a weighted-average period of 2.80 years.

24

Note 11 — Income taxes

The source of pre-tax income and the components of income tax expense are as follows:For the Three Months EndedSeptember 30,For the Nine Months EndedSeptember 30,2025202420252024USDUSDUSDUSDIncome componentsUnited States$(237,190)$(1,614,080)$(3,669,132)$(3,455,011)Outside United States168,723 1,183,369 466,537 2,186,900 Total pre-tax loss$(68,467)$(430,711)$(3,202,595)$(1,268,111)Provision for (benefit of) income taxes    Current    Federal$— $(12,757)$— $(12,219)State(6,388)29,128 5,244 37,553 Foreign242,614 502,214 279,489 831,959 236,226 518,585 284,733 857,293 Deferred    Federal1,271,304 (154,816)484,868 (572,163)State379,362 (96,232)163,185 (149,646)Foreign(7,293)— (7,293)(144,073)1,643,373 (251,