FST Corp. Announces 24 Percent Revenue Growth for First Half of 2025

BOULDER, CO., Aug. 21, 2025 (GLOBE NEWSWIRE) -- FST Corp. (Nasdaq: KBSX), a leading manufacturer and marketer of steel and graphite golf shafts and a provider of other golf-related services, today announced that, for the first six months of 2025 ended June 30, the Company had revenue of $22,193,432, a 24 percent increase compared with revenue of $17,829,745 for the corresponding period in 2024. This increase is primarily the result of additional sales of both steel and graphite golf shafts to the OEM sector.

Gross profit margin for the first half of 2025 improved to 46.0 percent, compared with 43.4 percent in the prior-year period. This increase was attributable to additional sales of higher-margin products, as well as an increase in operational efficiency.

The Company had a net loss of $5,827,047, or $(0.13) per share, for the first half of 2025, compared with a net income of $77,617, or $ 0.01 per share, for the same period a year earlier. This decline in bottom-line performance was primarily due to a $3,357,809, or 40 percent, increase in total operating expenses compared to the first half of 2024. This increase in expenses was primarily attributable to higher personnel costs and added marketing spending to support new product launches, as well as approximately $1.75 million in one-time listing-related expenses.  Bottom line results for the first half of 2025 were also impacted by an OTE derivative loss of $1,884,824, compared to no such charge for the year-ago six-month period, as well as by a foreign exchange loss for the first half of 2025 of $2,215,653 compared with a foreign exchange gain of $967,140 for the first half of 2024.

FST’s loss from operations for the first half of 2025 was $1,529,247, compared with a loss from operations of $644,225 in the first half of the prior year. After adjusting for one-time listing expenses, however, the Company would show operating income in the first half of 2025 of approximately $220,000, an improvement of about $870,000 over the prior-year period.

As of June 30, 2025, and December 31, 2024, FST had cash and cash equivalents of $6,802,368 and $5,098,420, total current assets of $29,327,334 and $26,655,003, and total current liabilities of $34,151,914 and $22,113,495, respectively.