Filing Flows › FGI Industries (FGI) › Q1 2025
FGI Industries (FGI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 14, 2025
FGI Industries (FGI) reported revenue of $33.2M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -7% from the quarter before. Operating margin was -3.9%, net loss $816K (2.5% of revenue).
FGI Industries, Q1 2025: revenue $33.2M (+8% year over year), operating margin -3.9%, net loss $816K, operating cash flow −$1.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $33.2M | -7% | +8% |
| Operating profit | −$1.3M | — | — |
| Net earnings | −$816K | — | — |
| Operating cash flow | −$1.7M | -368% | — |
What changed
Revenue was $33.2M in Q1 2025, up 8% year over year and down 7% from the previous quarter. Sanitaryware was the largest line at 61% of revenue. Others added $1.9M year over year (up 136%), 76% of the total change. Sanitaryware declined 2%.
Gross margin was 26.8%, down 0.6 points from a year earlier. Operating costs exceeded revenue by $1.3M, an operating margin of -3.9%. Operating expenses grew 17% against revenue growth of 8%. The fastest-growing cost line was General & admin (+18%). The quarter ended with a net loss of $816K, wider than the previous quarter's $475K loss. Minority interests bore $186K of it: to shareholders the quarter was a loss of $629K.
Operating cash flow was −$1.7M. Non-cash charges added back $710K of depreciation and amortization and $76K of share-based compensation. Working capital and other items used $1.6M. Capital expenditures of $350K exceeded it, leaving free cash flow of −$2.0M.
Questions
What was FGI Industries' revenue in the first quarter 2025?
FGI Industries (FGI) reported revenue of $33.2M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -7% from the quarter before.
Was FGI Industries profitable in the first quarter 2025?
Operating loss was $1.3M (-3.9% of revenue) and net loss $816K.
Source: FGI Industries 10-Q on SEC EDGAR.