{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-23-009237","form_type":"8-K","ticker":"FGI","cik":"0001864943","company_name":"FGI Industries Ltd.","filed_at":"2023-05-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.358695+00:00","generated_at":"2026-06-15T04:56:48.961571+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"FGI Industries Q1 revenue down 37.7% to $27.2M; net loss of $0.3M; reiterates FY guidance","bullets":["Total revenues $27.2M, down 37.7% YoY; gross margin improved 925 bps to 26.5%.","GAAP net loss ($0.3M) or ($0.03)/diluted share; adjusted net loss ($0.2M) or ($0.02)/share.","Sanitaryware revenue $15.4M (down 42.5%), bath furniture $5.0M (down 50.5%), shower systems $5.0M (down 16.7%), other $1.8M (up 157%).","Cash $7.4M, total liquidity $22.5M; total debt $8.4M.","Reiterates FY2023 guidance: revenue $145M-$163M, adj. operating income $6.0M-$6.8M, adj. net income $4.2M-$4.7M."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-23-009237","json":"https://secwatch.observer/filing/0001558370-23-009237.json","markdown":"https://secwatch.observer/filing/0001558370-23-009237.md","text":"https://secwatch.observer/filing/0001558370-23-009237.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1864943/000155837023009237/0001558370-23-009237-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1864943/000155837023009237/fgi-20230510x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T04:56:48.961571+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0f9df5907dec52b552f7e6fdf36de09fa343c4b7","claim":"FGI Industries Ltd. reported full-year 2023 results: revenue $145 million to $163 million, net income $4.2 million to $4.7 million. Guidance reaffirmed.","evidence_excerpt":"we continue to expect full-year 2023 revenues of $145 million to $163 million, adjusted operating income of $6.0 million to $6.8 million and adjusted net income of $4.2 million to $4.7 million.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1864943/000155837023009237/0001558370-23-009237-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full-year 2023"},{"label":"Revenue","value":"$145 million to $163 million"},{"label":"Net income","value":"$4.2 million to $4.7 million"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"218b9e5c83c735500dc5953a8b3a83964aa6aed7","claim":"FGI Industries Ltd. reported first quarter ended March 31, 2023 results: revenue $27.2 million, net income ($0.3) million.","evidence_excerpt":"▪ Total revenues of $27.2 million, (37.7%) y/y ▪ Gross profit of $7.2 million, (4.3%), Gross margin of 26.5%, +925 bps y/y ▪ Net loss of ($0.3) million","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1864943/000155837023009237/0001558370-23-009237-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2023"},{"label":"Revenue","value":"$27.2 million"},{"label":"Net income","value":"($0.3) million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}