FG Nexus Inc. FGNX

Financials SIC 6199 - Finance Services NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Other Financial Investment Activities derived Nasdaq

Nexus Inc., formerly known as Fundamental Global Inc. ("FGNX", the "Company", "we", or "us"),

is a holding company incorporated in the state of Nevada. On December 9, 2022, we completed our reincorporation from a Delaware corporation

to a Nevada corporation. On September 5, 2025, we changed our name from "Fundamental Global Inc." to "FG Nexus Inc."

Our common stock and Series A preferred shares are currently listed on Nasdaq under the symbols "FGNX" and "FGNXP,"

Last close 7.80 2026-09-25
Market cap $39.7M 2026-06-30 share count
52-week range 4.17 - 21.55

Valuation FY2025 figures against the last close

P/S16.5x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-25.69

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Digital Assets
  • Merchant Banking
  • Other Operating Segment
Revenue by segment, 3 categories over 1 years. The same figures are in the table below. FY2025 Digital Assets, FY2025: 1.5M (61.1%) 61% Digital Assets Merchant Banking, FY2025: 523K (21.7%) 22% Merchant Banking Other Operating Segment, FY2025: 415K (17.2%) 17% Other Operating Segment
Segment FY2025
Digital Assets $1.5M
Merchant Banking $523.0K
Other Operating Segment $415.0K

As the company reported it, from the “Schedule of Segment Reporting (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.4M$779.0K$17.1M$20.1M$7.6M-$17.2M$5.6M$1.2M$38.1M$32.3M
SG&A $14.5M$9.4M$3.8M$8.4M$9.2M$6.0M$2.5M$1.1M$9.3M$6.9M
Total operating expenses —$42.2M$33.4M$19.0M$14.9M$6.0M$2.5M$2.8M$36.7M$32.1M
Operating income -$64.0M-$11.7M-$16.3M———————
Interest expense $132.0K$303.0K$520.0K———————
Pre-tax income -$67.7M-$24.4M-$13.3M$1.1M-$7.3M-$23.1M$3.1M-$1.6M$1.5M$119.0K
Income tax $73.0K$92.0K$998.0K——$665.0K$738.0K$308.0K$1.2M$108.0K
Net income -$66.7M-$1.3M-$14.6M$1.1M-$8.5M-$22.5M$311.0K$804.0K$294.0K$11.0K
EPS, basic -25.69-12.16-35.22-0.09-1.96——-0.050.05—
EPS, diluted -25.69-12.16-35.22—-1.96-4.15-0.18-0.050.05—
Shares, diluted (wtd. avg.) 2.7M211,0004008.0M5.2M——6.0M6.0M6.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $13.4M$6.6M$4.6M$3.1M$15.5M$12.1M$28.5M$3.7M$23.6M$43.0M
Short-term investments ———————$474.0K$417.0K$196.0K
Receivables —$3.4M$3.5M———————
Inventory —$1.4M$1.5M———————
Property, plant and equipment $2.2M$2.4M$11.1M————$315.0K$205.0K$250.0K
Total assets $163.8M$109.5M$62.1M$49.5M$40.8M$34.7M$63.5M$169.8M$114.4M$90.8M
Short-term debt $1.9M$2.1M$2.3M———————
Long-term debt —$301.0K$5.5M———————
Total liabilities $20.4M$35.3M$25.1M$12.2M$6.8M$512.0K$539.0K$107.1M$67.6M$44.5M
Retained earnings -$68.7M-$229.0K$2.3M-$35.1M-$34.4M-$24.2M-$336.0K$639.0K$910.0K$616.0K
Total equity $143.5M$74.2M$37.0M$46.7M$34.0M$34.2M$62.9M$62.7M$46.8M$46.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$6.2M-$4.2M$156.0K-$11.0M-$14.4M-$11.3M-$20.6M$24.8M$7.5M$3.4M
Depreciation and amortisation $304.0K$408.0K$841.0K————$124.0K$73.0K$67.0K
Stock-based compensation $7.8M$1.6M$1.6M$255.0K$559.0K$311.0K$414.0K$337.0K$31.0K$38.0K
Capital expenditure —$46.0K$164.0K$81.0K$14.0K$13.0K$3.0K———
Investing cash flow -$122.6M$13.1M-$695.0K-$3.5M$5.9M-$1.2M-$19.7M-$29.2M-$27.0M-$6.8M
Financing cash flow $135.6M-$6.9M$3.4M$1.9M$11.9M-$3.9M-$1.4M$11.8M-$16.0K-$1.4M
Buybacks $26.1M————$5.2M———$1.2M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-017897.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M -50M 0 50M Revenue, FY2016: 32.3M Net income, FY2016: 11K Revenue, FY2017: 38.1M Net income, FY2017: 294K Revenue, FY2018: 1.2M Net income, FY2018: 804K Revenue, FY2019: 5.6M Net income, FY2019: 311K Revenue, FY2020: -17.2M Net income, FY2020: -22.5M Revenue, FY2021: 7.6M Net income, FY2021: -8.5M Revenue, FY2022: 20.1M Net income, FY2022: 1.1M Revenue, FY2023: 17.1M Net income, FY2023: -14.6M Revenue, FY2024: 779K Net income, FY2024: -1.3M Revenue, FY2025: 2.4M Net income, FY2025: -66.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $32.3M $38.1M $1.2M $5.6M -$17.2M $7.6M $20.1M $17.1M $779.0K $2.4M
Gross profit — — — — — — — — — —
Net income $11.0K $294.0K $804.0K $311.0K -$22.5M -$8.5M $1.1M -$14.6M -$1.3M -$66.7M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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