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Side-by-side financial comparison of FGI Industries Ltd. (FGI) and Owlet, Inc. (OWLT). Click either name above to swap in a different company.
FGI Industries Ltd. is the larger business by last-quarter revenue ($30.5M vs $26.6M, roughly 1.1× Owlet, Inc.). FGI Industries Ltd. runs the higher net margin — -8.6% vs -34.6%, a 26.0% gap on every dollar of revenue. On growth, Owlet, Inc. posted the faster year-over-year revenue change (29.6% vs -14.4%). FGI Industries Ltd. produced more free cash flow last quarter ($2.3M vs $-651.0K). Over the past eight quarters, Owlet, Inc.'s revenue compounded faster (34.2% CAGR vs -0.5%).
FGI Industries Ltd is a global designer, manufacturer and distributor of kitchen and bath products, home organization solutions, and home improvement goods. It serves major retail chains, home specialty stores and e-commerce platforms across North America, Europe and the Asia-Pacific region.
Owlet, Inc. is a pediatric health technology firm that develops smart wearable monitoring products for infants, most notably its signature smart sock that tracks real-time heart rate, oxygen levels, and sleep metrics. It serves global consumer markets across North America, Europe, and Asia-Pacific, distributing products via direct-to-consumer e-commerce and partnered retail outlets, focused on supporting parental peace of mind and infant health safety.
FGI vs OWLT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.5M | $26.6M |
| Net Profit | $-2.6M | $-9.2M |
| Gross Margin | 26.7% | 47.6% |
| Operating Margin | -2.2% | -18.4% |
| Net Margin | -8.6% | -34.6% |
| Revenue YoY | -14.4% | 29.6% |
| Net Profit YoY | -553.1% | -1.5% |
| EPS (diluted) | $-1.63 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $30.5M | $26.6M | ||
| Q3 25 | $35.8M | $32.0M | ||
| Q2 25 | $31.0M | $26.1M | ||
| Q1 25 | $33.2M | $21.1M | ||
| Q4 24 | $35.6M | $20.5M | ||
| Q3 24 | $36.1M | $22.1M | ||
| Q2 24 | $29.4M | $20.7M | ||
| Q1 24 | $30.8M | $14.8M |
| Q4 25 | $-2.6M | $-9.2M | ||
| Q3 25 | $-1.7M | $4.1M | ||
| Q2 25 | $-1.2M | $-37.6M | ||
| Q1 25 | $-629.1K | $3.0M | ||
| Q4 24 | $-402.3K | $-9.1M | ||
| Q3 24 | $-550.1K | $-5.6M | ||
| Q2 24 | $163.6K | $-1.1M | ||
| Q1 24 | $-412.2K | $3.3M |
| Q4 25 | 26.7% | 47.6% | ||
| Q3 25 | 26.5% | 50.6% | ||
| Q2 25 | 28.1% | 51.3% | ||
| Q1 25 | 26.8% | 53.7% | ||
| Q4 24 | 24.6% | 53.5% | ||
| Q3 24 | 25.8% | 52.2% | ||
| Q2 24 | 30.5% | 49.5% | ||
| Q1 24 | 27.4% | 44.4% |
| Q4 25 | -2.2% | -18.4% | ||
| Q3 25 | 1.0% | 3.8% | ||
| Q2 25 | -2.7% | -7.4% | ||
| Q1 25 | -3.9% | -12.7% | ||
| Q4 24 | -3.5% | -36.2% | ||
| Q3 24 | -0.2% | -21.8% | ||
| Q2 24 | -1.5% | -10.8% | ||
| Q1 24 | -1.0% | -39.0% |
| Q4 25 | -8.6% | -34.6% | ||
| Q3 25 | -4.6% | 12.9% | ||
| Q2 25 | -4.0% | -144.4% | ||
| Q1 25 | -1.9% | 14.3% | ||
| Q4 24 | -1.1% | -44.2% | ||
| Q3 24 | -1.5% | -25.4% | ||
| Q2 24 | 0.6% | -5.5% | ||
| Q1 24 | -1.3% | 22.2% |
| Q4 25 | $-1.63 | — | ||
| Q3 25 | $-0.86 | $-0.06 | ||
| Q2 25 | $-0.64 | $-2.37 | ||
| Q1 25 | $-0.07 | $0.11 | ||
| Q4 24 | $-0.38 | $-0.15 | ||
| Q3 24 | $-0.29 | $-0.61 | ||
| Q2 24 | $0.08 | $-0.30 | ||
| Q1 24 | $-0.04 | $-0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9M | $35.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $17.3M | $19.0M |
| Total Assets | $69.5M | $85.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | $35.5M | ||
| Q3 25 | $1.9M | $23.8M | ||
| Q2 25 | $2.5M | $21.8M | ||
| Q1 25 | $1.2M | $16.3M | ||
| Q4 24 | $4.6M | $20.2M | ||
| Q3 24 | $3.0M | $21.6M | ||
| Q2 24 | $1.3M | $15.4M | ||
| Q1 24 | $3.3M | $18.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $2.1M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | $17.3M | $19.0M | ||
| Q3 25 | $19.7M | $-54.1M | ||
| Q2 25 | $21.3M | $-59.2M | ||
| Q1 25 | $21.8M | $-25.8M | ||
| Q4 24 | $22.3M | $-29.8M | ||
| Q3 24 | $23.5M | $-21.5M | ||
| Q2 24 | $23.8M | $-33.4M | ||
| Q1 24 | $23.9M | $-32.9M |
| Q4 25 | $69.5M | $85.6M | ||
| Q3 25 | $73.0M | $74.9M | ||
| Q2 25 | $71.7M | $63.5M | ||
| Q1 25 | $68.5M | $51.4M | ||
| Q4 24 | $75.5M | $49.5M | ||
| Q3 24 | $74.7M | $56.1M | ||
| Q2 24 | $69.9M | $45.9M | ||
| Q1 24 | $68.6M | $43.8M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.3M | $-452.0K |
| Free Cash FlowOCF − Capex | $2.3M | $-651.0K |
| FCF MarginFCF / Revenue | 7.5% | -2.5% |
| Capex IntensityCapex / Revenue | 0.2% | 0.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-212.5K | $-11.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.3M | $-452.0K | ||
| Q3 25 | $-1.9M | $-2.2M | ||
| Q2 25 | $7.6M | $-2.2M | ||
| Q1 25 | $-7.4M | $-5.9M | ||
| Q4 24 | $617.4K | $3.0M | ||
| Q3 24 | $-915.0K | $-7.5M | ||
| Q2 24 | $862.1K | $-3.4M | ||
| Q1 24 | $-8.0M | $-3.4M |
| Q4 25 | $2.3M | $-651.0K | ||
| Q3 25 | $-2.1M | $-2.2M | ||
| Q2 25 | $7.4M | $-2.3M | ||
| Q1 25 | $-7.7M | $-5.9M | ||
| Q4 24 | $-214.1K | $3.0M | ||
| Q3 24 | $-1.1M | $-7.5M | ||
| Q2 24 | $281.5K | $-3.4M | ||
| Q1 24 | $-8.6M | — |
| Q4 25 | 7.5% | -2.5% | ||
| Q3 25 | -5.9% | -6.8% | ||
| Q2 25 | 23.8% | -8.8% | ||
| Q1 25 | -23.3% | -28.1% | ||
| Q4 24 | -0.6% | 14.5% | ||
| Q3 24 | -3.0% | -33.9% | ||
| Q2 24 | 1.0% | -16.3% | ||
| Q1 24 | -28.0% | — |
| Q4 25 | 0.2% | 0.7% | ||
| Q3 25 | 0.7% | 0.0% | ||
| Q2 25 | 0.7% | 0.2% | ||
| Q1 25 | 1.1% | 0.0% | ||
| Q4 24 | 2.3% | 0.2% | ||
| Q3 24 | 0.5% | 0.0% | ||
| Q2 24 | 2.0% | 0.0% | ||
| Q1 24 | 2.0% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.52× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -1.96× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.27× | — | ||
| Q1 24 | — | -1.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FGI
| Sanitaryware | $19.1M | 63% |
| Shower System | $5.8M | 19% |
| Kitchen And Bath Other | $3.3M | 11% |
| Bath Furniture Products | $2.3M | 7% |
OWLT
| US | $22.7M | 85% |
| Non Us | $3.2M | 12% |
| Other | $651.0K | 2% |
