FST (KBSX) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 rose 47% year-over-year to $12.6 million, driven by strong OEM and KBS-branded sales.

• Net loss for Q3 2025 narrowed to $716K from $1.76M in Q3 2024, aided by higher revenue and a foreign exchange gain.

• For the first nine months of 2025, revenue increased 32% year-over-year to $34.7 million.

Financial highlights

• Gross profit margin improved to 39.2% in Q3 2025 from 38.8% a year ago; nine-month margin rose to 43.6% from 41.9%.

• Net loss for the first nine months of 2025 was $6.54M, compared to $1.68M in the same period of 2024, due to higher costs and one-time charges.

• Operating loss for the first nine months was $2.48M; adjusted for listing expenses, operating loss was about $460K, a $1.5M improvement year-over-year.

• Cash and cash equivalents as of September 30, 2025, were $8.0M, up $2.87M from December 2024.

• Net cash provided by operating activities was $3.36M for the first three quarters of 2025.

Outlook and guidance

• Growth initiatives include new product launches, strategic partnerships, and expanded distribution in Asia and Europe.

• Listing expenses related to the merger are expected to be fully accounted for by year-end, improving future profitability.