FST Corp. Announces Unaudited Q4 and Full Year 2025 Results

Boulder, Colorado--(Newsfile Corp. - February 12, 2026) - 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 its unaudited financial results for both the fourth quarter and year-end periods ended December 31, 2025.

For the fourth quarter ended December 31, 2025, the Company had revenue of $13,220,371, a 30 percent increase from $10,142,024 in the fourth quarter of 2024. This increase is primarily due to additional sales in the Company's OEM business across both the steel and graphite lines.

Gross profit margin for the fourth quarter of 2025 was 41.6 percent, compared with 46.0 percent in the same period in 2024. This decrease was attributable to higher landed costs and a seasonal shift in the Company's product mix to include more moderate margin items.

The Company had a net loss of $620,552, or $(.01) per share, for the fourth quarter of 2025, compared with a net loss of $1,554,901, or $(.04) per share, for the corresponding period a year earlier. This improvement in bottom-line performance was mainly the result of the Company's aforementioned improvement in revenue and increases of approximately $831,000 in gross profit and $1,024,000 in foreign exchange (loss) gain.

FST's loss from operations for Q4 2025 was $922,233, compared with a loss from operations of $1,680,768 in the last three months of 2024.

For the year ended December 31, 2025, FST had revenue of $47,968,742, a 31 percent increase from $36,499,644 for the year ended December 31, 2024. This increase is primarily due to increased market share in the steel shaft business with OEM partners and the growth of KBS graphite.

Gross profit margin for 2025 remained stable at 43.0 percent, compared with 43.1 percent for 2024.

The Company had a net loss of $7,163,554, or $(.16) per share, for 2025, compared with a net loss of $3,235,175, or $(.09) per share, for 2024. This decline in bottom line performance was mainly the result of higher than anticipated landed costs, loss on foreign exchange, and listing related expenses.

However, after excluding $2,442,410 in listing-related general and administrative expenses, $852,183 in foreign exchange loss, and $1,884,824 in unrealized loss on change in fair value of OET derivative liability, the Company would have shown a net loss of $1,984,137 for 2025.

As of December 31, 2025, and December 31, 2024, FST had cash and cash equivalents of $7,179,800 and $5,098,420, total current assets of $27,481,480 and $26,655,003, and total current liabilities of $34,654,454 and $22,113,495, respectively.

For 2025 and 2024, net cash used in operating activities was $369,452 and $1,576,129; net cash used in investing activities was $1,261,681 and $4,453,899; and net cash provided by financing activities was $3,315,884 and $ 3,711,358, respectively.

Weighted average number of ordinary shares was 44,766,003 for 2025 and 37,749,381 for 2024.

For 2026, management is focused on expanding sales in both domestic and export markets, Including the launch of new product lines in Q1 and Q2, securing additional OEM business with strategic business partners, expanding distribution channels in Asia and Europe, and increasing exposure of the Company's KBS Open Golf Tournament.

FST is also evaluating the implementation of additional cost-control measures to improve margins and new strategies to mitigate currency risk.

The Company believes that its current liquidity, together with cash flows from operations and available credit facilities, will be sufficient to fund operating requirements for the next 12 months.

"We are excited to see our revenue grow strongly in both the fourth quarter and full-year 2025 period," said Chief Executive David Chuang. "It's also worth noting that, after putting aside our IPO-related expenses, foreign exchange loss, and OET derivative liability for 2025, our bottom line for the year would have shown a net loss of $1,984,137.

"Thus far in Q1 2026, we see our growth continuing strongly, with new inroads in several new geographic markets as well as in our expanded graphite product lines. We're also implementing key strategic cost-reduction initiatives, which we anticipate will result in meaningful improvements in our gross profit and total operating income.

"We look forward to sharing additional details of this progress when we report our audited 2025 results in April."

About FST Corp.

Founded in 1989, FST Corp. manufactures and sells golf club shafts, along with other golf-related items, to golf equipment brands, OEMs, distributors, and consumers via the company's KBS Golf Experience retail outlets. FST's equipment, marketed under the KBS brand, is utilized by golfers at all levels, including many professional players participating in the PGA and other major golf associations. The company's product portfolio, retail presence, and golf-related services are part of a vertically integrated business model that has established the KBS brand on a global scale and created significant competitive advantages over peer brands. The company's growth strategies currently position it for expansion into under-tapped golf shaft markets.

Forward-Looking Statements

This press release contains forward-looking statements regarding future expectations, plans, and prospects, as well as statements that are not historical facts. These statements involve known and unknown risks, uncertainties, and assumptions based on the Company's current expectations about events that may impact its financial condition, results, strategy, and needs. Forward-looking statements can often be identified by terms such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely," and similar expressions.

The Company assumes no obligation to update or revise these statements to reflect new events or changes in expectations, except as required by law. While these statements reflect reasonable expectations, actual results may differ materially. Investors are encouraged to review the Company's registration statement and SEC filings for additional information on factors that may impact future results.

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