Company: FGI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040149
Chunk: 15

Company: FGI Industries Ltd.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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 provide investors further insight into our profitability and additional perspectives in comparing our performance over time on a consistent basis. 

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The following table reconciles Income from Operations to Adjusted Income from Operations and Adjusted Operating Margins, as well as Net income to Adjusted Net Income for the periods presented.

For the Three Months EndedJune 30,For the Six Months EndedJune 30,2025202420252024USDUSDUSDUSDLoss from operations$(832,338)$(450,362)$(2,113,197)$(771,296)Adjustments:Non-recurring IPO-related share-based compensation— 59,719 19,906 119,438 Business expansion expense— 61,770 — 123,540 Adjusted Operating Loss$(832,338)$(328,873)$(2,093,291)$(528,318)Revenue$30,998,260 $29,370,949 $64,210,808 $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