KBSX

10 Percent Revenue Increase Year-over-Year;Operating Income and Bottom-Line Improvements Year-over-Year;Board Approves Share Repurchase Program of up to $3 million. BOULDER, Colo., July 28, 2026 (GLOBE NEWSWIRE) -- FST Corp. (Nasdaq: KBSX) (“FST” or the “Company”), 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 the second quarter ended June 30, 2026. Revenue for second quarter was $12,552,012, a 9.7 percent increase from revenue of $11,437,270 for the second quarter of 2025. This increase was mainly the result of additional aftermarket sales in both the Company’s steel and graphite lines. Net loss for the second quarter was $1,046,379, or ($0.02) per share, compared to a net loss of $3,029,029, or $(0.07) per share, in the same period of 2025. This improvement was primarily the result of a $752,673 improvement in gross profit driven by increased revenue and a change in product mix, a decline in total costs and operating expenses of $196,714, and a $2,394,387 improvement in foreign exchange loss. These improvements were offset in part by an unrealized loss on change in fair value of warrant liability of $721,171 compared to no such charge in the second quarter of last year, an income tax expense of $282,578 compared to an income tax benefit of $128,747 in the year ago period, and by a decrease in other income of $224,370 compared to Q2 2025. Operating income in Q2 2026 was $259,899, an improvement of $949,387 compared to an operating loss of $689,488 in the second quarter of 2025. For the first six months of 2026, the Company was profitable, reporting net income of $831,189, or $0.02 per share, a $6,658,236 improvement from a net loss of $5,827,047, or $(0.13) per share, in the first half of 2025. The weighted average number of shares outstanding for the second quarter of 2026 and 2025 was 44,766,003. As of June 30, 2026, and December 31, 2025, the Company had cash and cash equivalents of $8,221,962 and $7,179,800, total assets of $62,890,586 and $60,921,557, total liabilities of $46,940,722 and $45,370,369, and total shareholders’ equity of $15,949,864 and $15,551,188, respectively. For the first six months of 2026, net cash provided by operating activities was $1,148,290 compared with net cash used in operating activities of $4,315,501 for the first six months of 2025. For the first six months of 2026 and 2025, net cash used in investing activities was $1,053,088 and $241,198, and net cash provided by financing activities was $1,739,975 and $3,435,609, respectively. Management 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’re pleased to report that our strong start to the year has continued throughout the second quarter, during which we’ve grown aftermarket revenue in both our steel and graphite lines and improved gross margins while reducing our operating expenses,” said FST Chairman and Chief Executive Officer David Chuang. “In addition, the flexibility utilized in our capital structure has enabled us to lay the foundation for providing greater long-term value for our shareholders.” “Looking forward, we anticipate continued revenue growth through the end of the year via expanding sales in both domestic and export markets.” Mr. Chuang said these strategic initiatives include: Launch of new steel shaft product in Q3 Launch of new programs at OEM partners where KBS is the stock shaft; Expansion of regional sales coverage, development of new customer relationships and increased support provided to existing customers by the Company’s European office, allowing it to contribute incremental revenue across the European market; Hosting the second annual KBS Open in Taiwan, thereby providing additional marketing exposure, enhancing brand awareness, and strengthening engagement with customers and industry participants in Taiwan and other key Asian markets. Implement additional cost-control measures focused on production efficiency, inventory management, logistics and discretionary operating expenses. Share Repurchase Plan The Company’s Board of Directors (the “Board”) has authorized a stock repurchase program under which the company may repurchase up to $3.0 million of its outstanding ordinary shares. Shares may be repurchased from time to time through open-market transactions, privately negotiated transactions or other legally permissible means. The timing, manner, price, and actual number of shares repurchased will be determined at management’s discretion, based on various factors, including stock price, market and business conditions, the Company’s capital position and liquidity requirements, applicable legal and regulatory requirements, and other relevant considerations. This authorization reflects the Board’s confidence in the Company’s long-term strategy and growth trajectory and provides the Company the flexibility to repurchase shares when balanced against the Company’s operating, liquidity and growth requirements. The Company remains committed to maintaining a disciplined capital-allocation strategy that balances investments in growth with opportunities to return capital to shareholders. 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, and the Company’s belief with respect to its ability to capture growth opportunities and the impact of hosting the second annual KBS Open in Taiwan, as well as statements that are not historical facts. These statements are based on current expectations and assumptions that are subject to risks and uncertainties, including foreign exchange fluctuations, changes in market demand, competitive pressures, and other factors listed in the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2025, which are beyond the Company’s control. 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. Company Contact: FST Corp.1801 13th Street, Suite 306,Boulder, CO 80302Office: 303-444-2226Email: [email protected] Investor Relations Inquiries: Skyline Corporate Communications Group, LLCScott Powell, President1177 Avenue of the Americas, 5th FloorNew York, New York 10036Office: (646) 893-5835Email: [email protected]

This article first appeared on GuruFocus. Revenue: $48 million in 2025, a 31% increase from $36.5 million in 2024. Gross Profit Margin: Stable at 43% in 2025, with a gross profit of $20.6 million. Net Loss: $1.5 million or $0.03 per share in 2025, improved from a net loss of $3.2 million or $0.09 per share in 2024. Incremental Revenue: $11.5 million increase in 2025, driven by sales of premium KBS graphite shafts. Cash and Cash Equivalents: $7.2 million as of December 31, 2025, compared to $5.1 million in 2024. Total Assets: $61 million in 2025, up from $58.5 million in 2024. Total Liabilities: $45.4 million in 2025, compared to $35.5 million in 2024. Geographic Expansion: New markets include Japan, Europe, and Korea. Operational Efficiencies: 5,400 sq ft expansion in Garden Grove, California, and adoption of Shopify Plus program. Warning! GuruFocus has detected 3 Warning Signs with KBSX. Is KBSX fairly valued? Test your thesis with our free DCF calculator. Release Date: April 22, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. FST Corp (NASDAQ:KBSX) achieved a 31% year-over-year revenue growth, reaching $48 million in 2025. The company significantly narrowed its net loss from $3.2 million in 2024 to $1.5 million in 2025. FST Corp expanded its geographic market presence, successfully entering Japan, Europe, and Korea. The company implemented operational efficiencies, including expanding storage space and adopting the Shopify Plus program, which improved inventory tracking and reduced costs. FST Corp's graphite shaft sales saw a significant increase, contributing to more than half of the company's $11.5 million incremental revenue in 2025. FST Corp still reported a net loss of $1.5 million for 2025, despite improvements. The company faces elevated fuel and shipping costs, which could impact future financial results. FST Corp's debt profile includes $18 million in short-term debt, which they plan to convert to long-term debt. Gross profit margin remained stable at 43%, indicating no improvement from the previous year. The company has not provided specific numerical guidance for Q1 2026 revenue, creating uncertainty for investors. Q: Are you seeing any negative effects from elevated fuel costs on shipping or manufacturing? A: Sebastian Tadla, CFO: While shipping costs have increased recently, they haven't significantly impacted our Q1 results. We are strategically managing shipments to maintain inventory and avoid disruptions. Q: Can you provide more details on the growth of graphite shafts? A: Sebastian Tadla, CFO: Our strategy involves introducing shafts for professional and high-level amateur players first, then expanding to a broader market. The growth is driven by new products like the PG Black Shaft, which has gained traction on the PGA Tour, and increased adoption by OEM partners and the general public. Q: What are your capital expenditure needs for 2026? A: Sebastian Tadla, CFO: We expect CapEx needs to be similar to 2025, with no major projects planned. Previous higher CapEx was due to opening a store in Taipei and factory expansion. Q: How do you plan to manage your short-term debt? A: Sebastian Tadla, CFO: We are working to convert $18 million in short-term debt to long-term debt and aim to pay it down as we achieve profitability, improving our current ratio. Q: Can you provide a specific numerical range for Q1 revenue and confirm if it will be the first quarter of positive EBITDA? A: Sebastian Tadla, CFO: We expect continued revenue growth and anticipate a positive EBITDA, though it won't be the first in our history. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Boulder, Colorado--(Newsfile Corp. - April 21, 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 audited financial results for the fiscal year ended December 31, 2025. Revenue was $47,969,791, a 31 percent increase from revenue of $36,499,644 for the year ended December 31, 2024. This improvement was primarily due to increased sales of the Company's steel shafts to OEM partners and the growth of its KBS graphite shafts. These shafts accounted for more than half of the Company's incremental revenue in 2025. During that year, 97.2 percent of FST's revenue came from sales of golf shafts, 2.2 percent from sales of sports accessories, food and beverage, and 0.6 percent from software service, compared with 96.8, 2.6, and 0.6 percent, respectively, in 2024. Gross profit margin for 2025 remained stable at 43.0 percent, with a gross profit of $20,633,374, compared with 43.1 percent, with a gross profit of $15,713,389, for 2024. The Company had a net loss of $1,503,919, or $(.03) per share, for 2025, compared with a net loss of $3,235,175, or $(.09) per share, for 2024. This improvement in bottom-line performance was mainly the result of the Company's $11.5 million rise in revenue, offset in part by a $3.6 million, or 18.6 percent, increase in total costs and operating expenses during 2025. This $3.6 million increase comprised rises of $1.75 million in selling expenses resulting from increased marketing efforts to enhance brand visibility and market penetration, including hosting the inaugural KBS Open Golf Tournament and other promotional events; $1.66 million in general and administrative expenses, primarily due to additional listing-related expenses following the Company's January 2025 business merger; and $195,000 in R&D expenses, primarily attributable to a payroll increase for R&D personnel. Other factors contributing to an improved bottom line performance in 2025 were a $909,000 unrealized gain on change in fair value of OET derivative liability and a $599,000 gain on change in fair value of warrants versus no such gains in 2024, as well as a $730,000 income tax benefit compared with a $456,000 income tax expense during the previous year. These improvements, however, were largely offset by a $852,000 foreign exchange loss, compared with a $197,000 gain in 2024; a $772,000 decrease in other income, net; a $302,000 increase in interest expense, net; and a $64,000 loss in long-term investments versus a gain of $87,000 in 2024. The Company noted that its audited 2025 net loss of $1,503,919 represents a $5,659,635 differential from the unaudited 2025 net loss of $7,163,554 reported on February 12, 2026. This differential resulted from certain adjustments made in FST's audited 2025 financials, including: a $1,005,590 reduction in general and administrative expenses; the restatement of a change in fair value of OET derivative liability to a gain of $909,454 compared to a loss of $1,884,824 for this item in FST's unaudited financials; the restatement of income tax (benefit) expense to a benefit of $729,907 compared to an expense of $545,056 for this term in the Company's unaudited financials; and a gain on change in fair value of warrants of $599,255 that did not appear in FST's unaudited financials. As of December 31, 2025, and December 31, 2024, FST had cash and cash equivalents of $7,179,800 and $5,098,420, total assets of $60,921,557 and $58,469,702, and total liabilities of $45,370,369 and $35,471,428, respectively. For 2025 and 2024, net cash used in operating activities was $1,000,014 and $1,576,129; net cash used in investing activities was $799,196 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 44,477,649 for 2025 and 37,749,381 for 2024. For 2026, management is focused on expanding sales in both domestic and export markets, including launching several new product lines, securing additional OEM business with strategic partners, expanding distribution channels across multiple markets, and increasing exposure for the Company's KBS Open Golf Tournament. FST is also implementing additional cost-control measures designed to improve margins and evaluating 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 both our top and bottom-line performance improve sharply in 2025," said Chief Executive David Chuang. "Our robust revenue growth during the year is, we believe, a testament to the enduring quality and growing popularity of our products and our brand. "Thus far in 2026, this growth has accelerated, driven by our significant inroads in several new geographic markets, including Japan and Europe, as well as by the increased sales being compiled by our expanded graphite product lines. "We're also seeing our new cost-reduction initiatives begin to deliver operational efficiencies that, together with our ascending revenue, is currently generating major improvements in our gross profit margin, operating income and net income in Q1 2026." The CEO said he expects the above trends to continue, and that the Company is currently planning to expand its production of graphite shafts to meet the increasing demand being seen in both the professional and amateur markets. "We look forward to discussing these, and other operating developments, in our first quarter 2026 financial results next month." Conference Call and Live Webcast Wednesday, April 22nd at 8:00 am Eastern The Company's management will host both an earnings conference call and live webcast on these results today at 8:00 AM U.S. Eastern Time. Participants who wish to join the conference call are invited to call one of the allocated dial-in numbers below and advise the Operator on the conference Name, "FST Corp. Fiscal Year 2025 Earnings Conference Call." Those participants who wish to view the live webcast may register at https://www.gowebcasting.com/14691. An audio recording of the Event will be available via the Echo Replay platform. To access the platform by phone, please dial-in using one of the numbers listed above and input Playback ID: 6261208, followed by the # key. This replay will expire on Friday, May 22nd, 2026, at 11:59 PM EDT. Additionally, the audio recording and transcript of the Event will be available on the Company's investor relations website at https://fstcorp.com/. 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. Company Contact: FST Corp. 1801 13th Street, Suite 306, Boulder, CO 80302 Office: 303-444-2226 Email: [email protected] Investor Relations Inquiries: Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, New York 10036 Office: (646) 893-5835 Email: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/293687

Boulder, Colorado--(Newsfile Corp. - April 15, 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 that it will report its audited financial results for the full year 2025 on Wednesday, April 22, 2026, before market opening in the United States. The Company's management will host both an earnings conference call and live webcast on these results at 8:00 AM U.S. Eastern Time on the above date. Participants who wish to join the conference call are invited to call one of the allocated dial-in numbers below and advise the Operator on the conference Name, "FST Corp. Fiscal Year 2025 Earnings Conference Call." Those participants who wish to view the live webcast may register at https://www.gowebcasting.com/14691. An audio recording of the Event will be available via the Echo Replay platform. To access the platform by phone, please dial-in using one of the numbers listed above and input Playback ID: 6261208, followed by the # key. This replay will expire on Friday, May 22nd, 2026, at 11:59 PM EDT. Additionally, the audio recording and transcript of the Event will be available on the Company's investor relations website at https://fstcorp.com/. 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. Company Contact: FST Corp. 1801 13th Street, Suite 306, Boulder, CO 80302 Office: 303-444-2226 Email: [email protected] Investor Relations Inquiries: Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, New York 10036 Office: (646) 893-5835 Email: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292716

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. Company Contact: FST Corp. 1801 13th Street, Suite 306, Boulder, CO 80302 Office: 303-444-2226 Email: [email protected] Investor Relations Inquiries: Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, New York 10036 Office: (646) 893-5835 Email: [email protected] To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283749