---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-014987"
form_type: "8-K"
ticker: "FGI"
cik: "0001864943"
company_name: "FGI Industries Ltd."
filed_at: "2025-03-26T23:59:59+00:00"
generated_at: "2026-05-24T05:14:50.090449+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FGI Industries Q4 revenue up 15% to $35.6M but gross margin falls 460 bps; net loss $0.4M

## Summary
- Q4 revenue $35.6M (+15% YoY); gross profit $8.7M (-3.2%); gross margin 24.6% (down 460 bps).
- Operating loss $1.3M, net loss $0.4M ($0.04 diluted loss); adjusted operating loss $1.1M, adjusted net loss $0.7M.
- Full-year revenue $131.8M (+12.4% YoY); net loss $1.2M; operating expenses rose 28.4% to $10.0M.
- FY2025 guidance: revenue $135-145M; adj operating income $(2.0)-1.5M; adj net income $(1.9)-1.0M.
- Cash $4.6M, total debt $14.5M, total liquidity $15.6M; management notes fluid tariff environment.

## SEC filing metadata
- accession: 0001628280-25-014987
- form_type: 8-K
- ticker: FGI
- cik: 0001864943
- company_name: FGI Industries Ltd.
- filed_at: 2025-03-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1864943/000162828025014987/0001628280-25-014987-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1864943/000162828025014987/fgi-20250326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-014987
- JSON: https://secwatch.observer/filing/0001628280-25-014987.json
- Plain text: https://secwatch.observer/filing/0001628280-25-014987.txt

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