FGI Industries (FGI) Company Report

FGI Industries Ltd. announced third quarter 2025 total revenue of $35.8 million, representing a 0.7% year-over-year decrease.
For Q3 2025, gross profit increased by 2.0% year-over-year to $9.5 million, resulting in a gross margin of 26.5%.
The company reported a GAAP net loss attributable to shareholders of $1.7 million, or $0.86 per diluted share, for the third quarter of 2025, while adjusted net income was $0.2 million, or $0.13 per diluted share.
As of September 30, 2025, FGI had total available liquidity of $14.2 million.
FGI reiterated its fiscal 2025 guidance, expecting total net revenue of $135-145 million, total adjusted operating income of $(2.0)-1.5 million, and total adjusted net income of $(1.9)-1.0 million.

Nov 14, 2025, 9:18 PM

FGI Industries Announces Q3 2025 Results

FGI

Earnings

Guidance Update

Demand Weakening

FGI Industries reported total revenue of $35.8 million for the third quarter of 2025, a 0.7% decrease year-over-year, with a gross profit of $9.5 million (up 2.0% y/y) and a gross margin of 26.5% (up 70 bps y/y). The company recorded a net loss attributable to shareholders of $1.7 million and adjusted net income of $241,000 for the quarter.
As of September 30, 2025, FGI had $1.9 million in cash and cash equivalents and total available liquidity of $14.2 million.
The company reiterated its fiscal 2025 guidance, projecting total net revenue of $135-145 million, total adjusted operating income of $(2.0)-1.5 million, and total adjusted net income of $(1.9)-1.0 million.
Sanitaryware revenue grew 7.0% year-over-year, while Bath Furniture and Shower Systems revenue declined 10.8% and 17.8%, respectively. Management noted continued customer evaluation of tariffs and an uncertain industry outlook due to tariffs.