Company: FGI
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001628280-25-040149
Chunk: 80

Company: FGI Industries Ltd.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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 $60,124,468 $4,086,340 6.8 Cost of revenue46,603,943 42,747,683 3,856,260 9.0 Gross profit17,606,865 17,376,785 230,080 1.3 Selling and distribution expenses13,372,906 12,391,733 981,173 7.9 General and administrative expenses5,545,928 4,904,878 641,050 13.1 Research and development expenses801,228 851,470 (50,242)(5.9)Loss from operations(2,113,197)(771,296)(1,341,901)174.0 Operating margins (%)(3.3)(1.3)(200)bpsTotal other expenses, net(1,020,931)(66,104)(954,827)1444.4 benefit of income taxes(954,106)(276,126)(677,980)245.5 Net loss(2,180,022)(561,274)(1,618,748)288.4 Net loss attributable to FGI Industries Ltd. shareholders(1,860,616)(248,624)(1,611,992)648.4 Adjusted loss from operations(1)(2,093,291)(528,318)(1,564,973)296.2 Adjusted operating margins (%)(1)(3.3)(0.9)(240)bpsAdjusted net loss attributable to FGI Industries Ltd. shareholders(1)$(2,234,256)$(174,776)$(2,059,480)1178.4 

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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

32

Our revenue increased by $1.6 million, or 5.5%, to $31.0 million for the three months ended June 30, 2025, from $29.4 million for the three months ended June 30, 2024. The increase in our revenue was primarily driven by increases in sales of sanitaryware and custom kitchen cabinetry. 

Revenue categories by product are summarized as follow:

For the Three Months Ended June 30,Change2025Percentage2024