FGI Industries Reports 15% Revenue Rise, Guides 2025 Revenue of $135M to $145M

FGI Industries Ltd. reported a fourth-quarter revenue of $35.6 million, reflecting a 15% year-over-year increase, despite facing challenges with declining gross profit margins and rising operational costs. The company experienced significant growth across all business segments, particularly a 40.2% increase in Bath Furniture revenue and a 68.3% rise in revenue from Covered Bridge, attributable to new business wins and market-aligned pricing strategies. However, gross profit fell to $8.7 million, a decline of 3.2%, leading to a gross margin decrease to 24.6%. Operating expenses rose by 28.4%, resulting in a negative GAAP operating income of $1.3 million, down from a positive $1.2 million the previous year. FGI is navigating a challenging tariff environment as it aims for further growth, projecting 2025 revenues between $135 million and $145 million. Overall, the company remains optimistic about its strategic investments and market expansion efforts, particularly in Europe and India.