{ "docId": "019de075-9041-72d8-8238-b91c49d00dba", "docSlug": "5404459988443e984b45145e43aa78ed", "documentTitle": "FGI Industries | Investor Presentation Deck | 15 slides", "authorId": "fgi-industries", "authorName": "FGI Industries", "documentKindSlug": "pitchdeck", "documentKindLabel": "Pitch deck", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2023-08-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 8, "pageCount": 15, "prevPage": 7, "nextPage": 9, "slideType": "appendix_data", "function": "analyze_data", "density": "overcrowded", "nDataPoints": 16, "notes": "Includes commentary on revenue decrease drivers and margin improvements.", "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de075-9041-72d8-8238-b91c49d00dba/8", "deckHref": "/decks/019de075-9041-72d8-8238-b91c49d00dba", "deckJsonHref": "/decks/019de075-9041-72d8-8238-b91c49d00dba.json", "deckAnchorHref": "/decks/019de075-9041-72d8-8238-b91c49d00dba#slide-8", "components": [ { "bbox": { "h": 0.25, "w": 0.2, "x": 0.03, "y": 0.2 }, "kind": "chart", "text": "Total Revenue $MM", "attrs": null, "subkind": "bar-vertical", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3b7eec89-5766-441b-ba74-7207aaae3d69", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.25, "x": 0.48, "y": 0.2 }, "kind": "chart", "text": "Adjusted Operating Income (1) $MM", "attrs": null, "subkind": "bar-vertical", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6d4cc3fc-3f1d-4e66-8725-e2f35ce2b1e9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.2, "x": 0.26, "y": 0.2 }, "kind": "chart", "text": "Gross Profit $MM", "attrs": null, "subkind": "bar-vertical", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6f204a2e-4b77-4301-b9b3-6e08d9c96d99", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.2, "x": 0.76, "y": 0.2 }, "kind": "chart", "text": "Adjusted Net Income (1) $MM", "attrs": null, "subkind": "bar-vertical", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "982c26bb-ce6c-47bb-8158-6c7636e7b64f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.2, "x": 0.26, "y": 0.58 }, "kind": "paragraph", "text": "Gross profit was down only 4.9% compared to last year, as the volume headwinds were offset by a shift in the revenue mix towards the higher-margin shower systems and custom kitchen cabinetry businesses. As a result, gross margin was 27.4% during 2Q23, up from 17.6% in the prior-year period.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4f57ef4f-1ed4-47b1-a735-ac1cc9800c98", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.2, "x": 0.03, "y": 0.58 }, "kind": "paragraph", "text": "Total second quarter revenue decreased 38.9% driven by inventory de-stocking across each of our business lines.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c3c69d5a-f2f9-47d9-a00f-5e0f28a85c47", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.2, "x": 0.76, "y": 0.58 }, "kind": "paragraph", "text": "Adjusted net income for the second quarter of 2023 was $0.1 million, versus adjusted net income of $1.2 million for the same period last year.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e1f38076-2667-48a1-9e01-c07bc7ded946", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.2, "x": 0.48, "y": 0.58 }, "kind": "paragraph", "text": "Adjusted operating income was $0.6 million, down from $1.7 million, due to lower gross profit and an increase in operating expenses tied to growth initiatives. Adjusted operating margin was 2.2% during 2Q23, down from 3.7% last year.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f7f67f37-8307-4ac4-87eb-72daf9e38366", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.4, "x": 0.07, "y": 0.97 }, "kind": "source-note", "text": "(1) See attached appendix for reconciliation of GAAP and non-GAAP financial measures", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9ecf46ce-fe85-4cd3-a032-5efa397acfeb", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.5, "x": 0.035, "y": 0.05 }, "kind": "title", "text": "Quarterly Consolidated Financial Results", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f07e0d8e-4533-4b63-9829-9822db7ac08a", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 10, "from": 6, "beatId": "c9fcce14-07cf-4c28-9d1e-6eef4aeaf00e", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Financials", "beatSlug": "sequoia-pitch-financials", "evidence": "The deck provides a detailed review of FGI Industries' financial performance and outlook", "position": 1, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "loops": [ { "to": 12, "from": 5, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "b64c2fb6-91fe-41cf-93c0-f1683f3c1eab", "evidence": "The deck implies that not investing in FGI Industries may result in missed opportunities for growth and shareholder value creation", "position": 0, "objective": "Highlight the potential consequences of not investing in FGI Industries", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }