FG Nexus Inc. FGNX
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,"
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | — | — | -0.05 | 0.05 | — |
| EPS, diluted | -25.69 | -12.16 | -35.22 | — | -1.96 | -4.15 | -0.18 | -0.05 | 0.05 | — |
| Shares, diluted (wtd. avg.) | $2.7M | $211.0K | $400 | $8.0M | $5.2M | — | — | $6.0M | $6.0M | $6.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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.
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