Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 181

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 181
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 months ended September 30, 2025 from $21.5 million for same period of 2024. For the nine months ended September 30, 2025, this revenue increased by 3.2% to $61.2 million from $59.3 million for the same period of 2024. Demand for sanitaryware remains subject to uncertainty given ongoing tariff considerations and broader trade conditions, despite easing of certain trade tensions between the U.S. and China.

Our revenue from bath furniture sales accounted for 10.4% and 11.9% of our total revenue for the three and nine months ended September 30, 2025, compared to 11.5% and 11.7% for the comparable periods of 2024. Bath furniture sales decreased by 10.8% to $3.7 million for the three months ended September 30, 2025, compared to $4.2 million for the same period of 2024. For the nine months ended September 30, 2025, revenue from bath furniture sales increased by 5.9% to $12.0 million from $11.3 million for the same period of 2024. Our recently launched mid-tier product lines, launched to better address the current demand environment of trading down to lower priced offerings, is gaining traction.

Revenue from sales of shower systems made up approximately 16.4% and 16.8% of our total revenue for the three and nine months ended September 30, 2025, compared to 19.8% and 19.5% for the comparable periods of 2024. Revenue from sales of shower systems decreased by 17.8% to $5.9 million for the three months ended September 30, 2025, compared to $7.1 million for the comparable period of 2024. For the nine months ended September 30, 2025, revenue from sales of shower systems decreased by 10.7% to $16.8 million from $18.8 million for the same period of 2024. While shower system revenue dropped year-over-year this quarter, our recently launched programs have driven growth in recent periods and we anticipate them continuing to be a positive driver moving forward. Similar to sanitaryware, however, we expect demand to be uncertain due to the current environment as consumers await tariff clarity, which may offset the impact of these programs.

For the nine months ended September 30, 2025,