Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 82

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 82
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9 Gross profit27,105,533 26,685,007 420,526 1.6 Selling and distribution expenses19,433,477 18,676,665 756,812 4.1 General and administrative expenses8,330,435 7,542,019 788,416 10.5 Research and development expenses1,085,095 1,303,445 (218,350)(16.8)Loss from operations(1,743,474)(837,122)(906,352)108.3 Operating margins (%)(1.7)(0.9)(80)bpsTotal other expenses, net(1,459,121)(430,989)(1,028,132)238.6 provision for (benefit of) income taxes925,493 (8,589)934,082 (10875.3)Net loss(4,128,088)(1,259,522)(2,868,566)227.8 Net loss attributable to FGI Industries Ltd. shareholders(3,511,948)(798,761)(2,713,187)339.7 Adjusted loss from operations(1)(1,723,568)(472,655)(1,250,913)264.7 Adjusted operating margins (%)(1)(1.7)(0.5)(120)bpsAdjusted net loss attributable to FGI Industries Ltd. shareholders(1)$(1,993,665)$(280,227)$(1,713,438)611.4 

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(1)See “Non-GAAP Measures” below for more information on our use of these adjusted figures and a reconciliation of these financial measures to their closest U.S. generally accepted accounting principles (“GAAP”) comparators.

Revenue

33

For the nine months ended September 30, 2025, our revenue increased by $3.8 million, or 4.0%, to $100.1 million from $96.2 million for the same period last year. The increase in our revenue was primarily driven by increases in sales of sanitaryware, bath furniture and custom kitchen cabinetry. Revenue for the three months ended September 30, 2025 was $35.8 million, essentially consistent with the prior-year period.

Revenue categories by product are summarized as follow:

For the Three Months Ended September 30,Change2025Percentage2024PercentagePercentageUSD%USD%%San