FST Ltd. Q3 Revenue Rises 47% to $12.6 Million
FST Ltd. reported revenue of $12.6 million for the third quarter ended September 30, 2025, representing a 47.0% increase from $8.5 million in the same period of 2024. Gross profit margin improved to 39.2%, up from 38.8% the previous year. Net cash provided by operating activities for the first nine months of 2025 was $3.4 million, compared to $0.5 million in 2024. Net cash used in investing activities was $0.4 million, versus $2.5 million a year earlier. Net cash used in financing activities was $2.3 million, compared to $0.4 million in 2024. FST reported an operating loss of $2.5 million for the first nine months of 2025, but excluding listing expenses, the loss would be approximately $0.5 million, an improvement of about $1.5 million over the prior-year period. As of September 30, 2025, cash and cash equivalents stood at $8.0 million, an increase of $2.9 million since December 31, 2024. The company attributed growth to increased demand for its OEM and KBS-branded steel and graphite shafts, with wider acceptance in the wholesale market and higher U.S. OEM sales.
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