{"schema_version":"secwatch.filing_event.v1","accession":"0001558370-24-003638","form_type":"8-K","ticker":"FGI","cik":"0001864943","company_name":"FGI Industries Ltd.","filed_at":"2024-03-20T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.138472+00:00","generated_at":"2026-06-04T12:11:01.216346+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"FGI Industries reports FY 2023 revenue down 27.5%, gross margin up 788 bps","bullets":["Q4 2023 revenue $31.0M (-2.6% YoY); gross profit $9.0M (+20.1%); net income $0.5M.","Full-year 2023 revenue $117.2M (-27.5% YoY); gross margin 27.4% (+788 bps); net income $0.6M.","Adjusted net income FY 2023 $1.0M; adjusted operating income $2.8M; Q4 adjusted operating income $1.4M.","Gross margin improvement driven by product mix and cost controls; revenue decline reflects market conditions."],"urls":{"canonical":"https://secwatch.observer/filing/0001558370-24-003638","json":"https://secwatch.observer/filing/0001558370-24-003638.json","markdown":"https://secwatch.observer/filing/0001558370-24-003638.md","text":"https://secwatch.observer/filing/0001558370-24-003638.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1864943/000155837024003638/0001558370-24-003638-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1864943/000155837024003638/fgi-20240320x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T12:11:01.216346+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":"527a10763b4f79e6b4c3bff38da898d5bd536c17","claim":"FGI Industries Ltd. reported the fourth quarter and full-year 2023 results: revenue Total revenues of $31.0 million, net income Net Income of $0.5 million.","evidence_excerpt":"bath products, today announced results for the fourth quarter and full-year 2023. ​ FOURTH QUARTER 2023 HIGHLIGHTS (As compared to the prior-year period) ​ ▪ Total revenues of $31.0 million, (2.6%) ▪ Gross profit of $9.0 million, +20.1%; Gross margin of 29.2%, +549 basis points ▪ Net Income of $0.5 million ▪ Adjusted net income of $0.5 million* ▪ Adjusted operating","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1864943/000155837024003638/0001558370-24-003638-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fourth quarter and full-year 2023"},{"label":"Revenue","value":"Total revenues of $31.0 million"},{"label":"Net income","value":"Net Income of $0.5 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"c93e26af5e35d5705aa60d2a0fffb5bb838e7819","claim":"FGI Industries Ltd. reported full-year 2023 results: revenue Total revenues of $117.2 million, net income Net Income of $0.6 million.","evidence_excerpt":"▪ Adjusted net income of $0.5 million* ▪ Adjusted operating income of $1.4 million* ​ FULL-YEAR 2023 HIGHLIGHTS (As compared to the prior-year period) ​ ▪ Total revenues of $117.2 million, (27.5%) ▪ Gross profit of $32.1 million, +1.8%; Gross margin of 27.4%, +788 basis points ▪ Net Income of $0.6 million ▪ Adjusted net income of $1.0 million* ▪ Adjusted operating","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1864943/000155837024003638/0001558370-24-003638-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full-year 2023"},{"label":"Revenue","value":"Total revenues of $117.2 million"},{"label":"Net income","value":"Net Income of $0.6 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"}