US EditionNkarta Reports Fourth Quarter and Full Year 2024 Financial Results and Corporate Highlights
- On March 26, 2025, FGI Industries Ltd., a global supplier of kitchen and bath products listed on Nasdaq as FGI, announced its fourth quarter and full-year 2024 results in a press release from EAST HANOVER, N.J.
- The revenue increase in the fourth quarter was attributed to growth across all businesses and geographies, with notable growth in the US , Canada , and Europe .
- FGI's fourth-quarter results showed a 15.0% year-over-year increase in total revenue to $35.6 million, driven by sanitaryware , bath furniture , and shower systems , though gross profit decreased by 3.2% to $8.7 million, and gross margin declined to 24.6%.
- According to Dave Bruce, President and CEO of FGI, the company reported a total revenue of $35.6 million in the quarter, representing a 15.0% year-over-year increase, but gross profit decreased by 3.2% compared to the prior year, and the gross margin was 24.6%, a decline of 460 basis points compared to the fourth quarter of 2023 due to customer marketing support and costs related to new business and promotional expenses in Bath Furniture.
- FGI anticipates total net revenue of $135-145 million and adjusted operating income of $-1.5 million for fiscal year 2025, and will host a conference call on March 27th at 9:00 am Eastern Time to further discuss these results.
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EAST HANOVER, N.J., March 26, 2025 /PRNewswire/ -- FGI Industries Ltd. (Nasdaq: FGI) ("FGI" or the "Company"), a leading global supplier of kitchen and bath products, today announced results for the fourth quarter and full-year 2024.
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