Filing Flows › FGI Industries (FGI) › Q4 2024
FGI Industries (FGI) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 31, 2025
FGI Industries (FGI) reported revenue of $35.6M for the fourth quarter 2024 (Q4 2024), +15% from a year earlier and -1% from the quarter before. Operating margin was -3.5%, net loss $475K (1.3% of revenue).
FGI Industries, Q4 2024: revenue $35.6M (+15% year over year), operating margin -3.5%, net loss $475K, operating cash flow $617K. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.6M | -1% | +15% |
| Operating profit | −$1.3M | — | — |
| Net earnings | −$475K | — | — |
| Operating cash flow | $617K | — | -85% |
What changed
Revenue was $35.6M in Q4 2024, up 15% year over year and down 1% from the previous quarter. Sanitaryware was the largest line at 61% of revenue.
Gross margin was 24.6%, down 4.6 points from a year earlier. Operating costs exceeded revenue by $1.3M, an operating margin of -3.5%. Operating expenses grew 28% against revenue growth of 15%. The fastest-growing cost line was Research & development (+77%). The quarter ended with a net loss of $475K, narrower than the previous quarter's $698K loss. Minority interests bore $72K of it: to shareholders the quarter was a loss of $402K. Non-operating items added $248K, -25% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $617K (down 85% year over year). Non-cash charges added back $1.0M of depreciation and amortization. Working capital and other items added $59K. Capital expenditures of $832K exceeded it, leaving free cash flow of −$214K.
Questions
What was FGI Industries' revenue in the fourth quarter 2024?
FGI Industries (FGI) reported revenue of $35.6M for the fourth quarter 2024 (Q4 2024), +15% from a year earlier and -1% from the quarter before.
Was FGI Industries profitable in the fourth quarter 2024?
Operating loss was $1.3M (-3.5% of revenue) and net loss $475K.
Source: FGI Industries 10-K on SEC EDGAR.