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Edge1 May 2026
Making the Marlboro Man
The story of Marlboro's transformation from a women's cigarette to a global icon: one of the most effective brand repositionings in history.
FBS Global
FBS Global (FBGL) investor relations material
FBS Global Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary30 Apr, 2026
Executive summary
Revenue increased 86.8% year-over-year to S$25.9 million (US$19.1 million) in 2025, driven by commencement of major projects and new contract wins.
Net loss widened to S$2.0 million (US$1.5 million) in 2025 from S$0.8 million in 2024, mainly due to higher operating expenses and R&D investments.
Gross profit more than doubled to S$2.6 million, with gross margin improving to 10.2% from 9.0% year-over-year.
IPO completed in February 2025, raising US$8.8 million in net proceeds and listing on Nasdaq under ticker FBGL.
Financial highlights
Revenue: S$25.9 million in 2025, up from S$13.8 million in 2024 (86.8% increase).
Gross profit: S$2.6 million in 2025, up from S$1.3 million in 2024 (110.2% increase).
Net loss: S$2.0 million in 2025, compared to S$0.8 million in 2024.
Cash and restricted cash: S$5.3 million at year-end 2025, up from S$3.0 million in 2024.
Working capital turned positive to S$9.0 million in 2025 from negative S$1.5 million in 2024.
Outlook and guidance
Management expects continued revenue growth in 2026, supported by a strong project pipeline and ongoing public sector contracts.
Inflationary pressures and cost increases are being monitored, but no material impact was observed in 2025.
Sufficient funds are available to meet working capital and debt obligations for at least 12 months post-report.
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Latest events from FBS Global
- Offering up to 8.13M shares and warrants to raise $8.8M for expansion amid recent losses.FBGL
Registration Filing27 Feb 2026 - Green building contractor targets $8.5M Nasdaq IPO, with strong growth but rising risks.FBGLRegistration Filing30 Nov 2025
- Green building contractor seeks $8.5M Nasdaq IPO, founder retains 69.4% control.FBGLRegistration Filing30 Nov 2025
- Green building contractor seeks $8.5M Nasdaq IPO, CEO to retain 69.4% control.FBGLRegistration Filing30 Nov 2025
- Emerging growth company plans IPO with strong governance, current financials, and compliance waivers.FBGLRegistration Filing30 Nov 2025
- IPO filing features new board nominees, CEO Kelvin Ang, and Cayman Islands incorporation.FBGLRegistration Filing30 Nov 2025
- Green building contractor targets $8.5M Nasdaq IPO for expansion and innovation in Singapore.FBGLRegistration Filing29 Nov 2025
- Green building contractor targets $8.5M Nasdaq IPO; founder retains control post-offering.FBGLRegistration Filing29 Nov 2025
- Green building contractor seeks $5–10M via discounted share offering for growth and working capital.FBGLRegistration Filing17 Oct 2025
Next FBS Global earnings date
Q1 20269 Jul, 2026
FBS Global
Next FBS Global earnings date
Q1 20269 Jul, 2026
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