---
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"
generated_at: "2026-06-04T12:11:01.216346+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# FGI Industries reports FY 2023 revenue down 27.5%, gross margin up 788 bps

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-003638
- JSON: https://secwatch.observer/filing/0001558370-24-003638.json
- Plain text: https://secwatch.observer/filing/0001558370-24-003638.txt

## Key facts
- Earnings Releases
  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.
  - Period: the fourth quarter and full-year 2023
  - Revenue: Total revenues of $31.0 million
  - Net income: Net Income of $0.5 million
  - Result: reported results
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1864943/000155837024003638/0001558370-24-003638-index.htm
- Earnings Releases
  FGI Industries Ltd. reported full-year 2023 results: revenue Total revenues of $117.2 million, net income Net Income of $0.6 million.
  - Period: full-year 2023
  - Revenue: Total revenues of $117.2 million
  - Net income: Net Income of $0.6 million
  - Result: reported results
  source text: ▪ 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_url: https://www.sec.gov/Archives/edgar/data/1864943/000155837024003638/0001558370-24-003638-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.