Company: FGI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040149
Chunk: 92

Company: FGI Industries Ltd.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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 $60,124,468 Adjusted Operating Margins (%)(2.7)(1.1)(3.3)(0.9)

For the Three Months EndedJune 30,For the Six Months EndedJune 30,2025202420252024USDUSDUSDUSDLoss before income taxes$(1,579,041)$(321,830)$(3,134,128)$(837,400)Adjustments:Non-recurring IPO-related share-based compensation— 59,719 19,906 119,438 Business expansion expense— 61,770 — 123,540 Adjusted loss before income taxes(1,579,041)(200,341)(3,114,222)(594,422)Less: income taxes at 18% rate(284,227)(36,061)(560,560)(106,996)Less: net loss attributable to non-controlling shareholders(132,941)(186,980)(319,406)(312,650)Adjusted Net (Loss) Income$(1,161,873)$22,700 $(2,234,256)$(174,776)

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 reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by our company in the reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our principal executive and principal financial officer, to allow timely