secwatch.observer — SEC 8-K summary
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Issuer:     FGI Industries Ltd. (FGI)
CIK:        0001864943
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001558370-24-011377
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FGI Q2 revenue flat at $29.4M, gross margin up 310bps, but posts operating loss
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- Revenue $29.4M (+0.6% YoY); gross profit $9.0M (+11.9%); gross margin 30.5% (+310bps).
- GAAP net loss ~$0.0M ($0.00 EPS); adjusted net income $0.1M ($0.01 EPS).
- Shower Systems revenue +37% YoY; Covered Bridge cabinets +66% YoY; sanitaryware -8%.
- FY2024 guidance reaffirmed: revenue $115M-$128M, adj. operating income $2.8M-$3.8M.
- Liquidity $17.4M; cash $1.3M, total debt $9.7M; opened office in India.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1864943/000155837024011377/0001558370-24-011377-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1864943/000155837024011377/fgi-20240807x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-011377

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