Flexible Solutions International, Inc. (FSI) Income Statement
FSI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFSI revenue and net income
Where FSI's revenue goes
2025Each bar shows an amount and its share of revenue. FSI kept 2.0% of revenue as net income.
FSI profit margins
FSI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.7% | −5.6% | +4.2% | +9.3% |
| Gross profit | −34.3% | −14.4% | −2.3% | +3.4% |
| Operating income | −35.2% | −20.3% | −2.8% | +4.3% |
| Net income | −74.1% | −51.8% | −23.4% | −6.3% |
| EPS (diluted) | −75.0% | −52.8% | −24.2% | −5.9% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FSI quarterly EPS vs estimates
Flexible Solutions International beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 13, 2026 (estimate $-0.01).
FSI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $38.5M | $38.2M | $38.3M | $45.8M | $34.4M | $31.4M | $27.4M | $17.8M | $15.5M | $16.2M |
| Cost of revenue | $29.8M | $25.0M | $28.0M | $32.0M | $23.0M | $21.6M | $18.8M | $12.2M | $9.5M | $9.3M |
| Gross profit | $8.7M | $13.2M | $10.3M | $13.9M | $11.4M | $9.8M | $8.6M | $5.6M | $6.0M | $7.0M |
| Research & development | $2.5M | $329,952 | $158,246 | $99,275 | $116,411 | $81,422 | $123,660 | $135,930 | $98,928 | $95,098 |
| Sales, general & admin | $4.7M | $5.8M | $5.6M | $5.6M | $5.1M | $4.9M | $5.0M | $4.0M | $4.3M | $3.8M |
| Total operating expenses | $5.1M | $7.7M | $7.3M | $6.8M | $5.9M | $5.6M | $6.7M | $4.7M | $4.4M | $3.9M |
| Operating income | $3.6M | $5.5M | $3.0M | $7.1M | $5.5M | $4.1M | $1.9M | $1.3M | $1.5M | $3.1M |
| Interest income | $150,233 | $196,454 | $113,809 | $473,660 | $77,999 | $53,101 | $80,731 | $36,843 | $913 | $2,184 |
| Interest expense | $613,852 | $610,265 | $498,666 | $292,949 | $199,930 | $260,657 | $428,371 | $93,653 | $44,125 | $41,699 |
| Income before taxes | $3.3M | $5.0M | $3.6M | $7.9M | $6.7M | $5.2M | $2.3M | $3.1M | $3.4M | $3.1M |
| Income taxes | $899,583 | $851,211 | −$132,735 | $145,856 | $2.4M | $1.6M | $17,436 | $633,130 | $1.7M | $1.3M |
| Net income | $786,894 | $3.0M | $2.8M | $7.0M | $3.4M | $3.0M | $1.9M | $2.5M | $1.8M | $1.8M |
| EBITDA | $5.8M | $7.5M | $5.9M | $9.5M | $8.1M | $6.6M | $3.7M | $3.5M | $2.0M | $3.8M |
| EPS (diluted) | $0.06 | $0.24 | $0.23 | $0.57 | $0.28 | $0.24 | $0.05 | $0.21 | $0.15 | $0.16 |
| Gross margin | 22.6% | 34.6% | 27.0% | 30.3% | 33.1% | 31.1% | 31.4% | 31.6% | 38.6% | 43.0% |
| Operating margin | 9.3% | 14.4% | 7.8% | 15.4% | 15.9% | 13.1% | 7.0% | 7.3% | 9.8% | 19.0% |
| Net margin | 2.0% | 7.9% | 7.2% | 15.3% | 10.0% | 9.5% | 7.0% | 14.0% | 11.3% | 11.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.6M | $8.3M | $9.1M | $10.6M | $11.4M | $7.5M | $9.2M | $9.3M | $10.5M | $9.2M | $9.4M | $8.7M |
| Cost of revenue | $7.9M | $7.4M | $6.4M | $8.0M | $6.0M | $5.5M | $6.5M | $5.5M | $6.6M | $6.4M | $6.7M | $7.2M |
| Gross profit | −$287,766 | $862,220 | $2.7M | $2.5M | $5.4M | $2.0M | $2.7M | $3.8M | $3.9M | $2.8M | $2.7M | $1.5M |
| Research & development | $107,940 | $116,533 | $85,587 | $255,657 | $167,247 | $106,801 | $113,018 | $27,806 | $62,474 | $126,654 | $68,077 | $52,834 |
| Sales, general & admin | $1.3M | $762,357 | $3.9M | $1.5M | $1.5M | $1.5M | $1.3M | $1.4M | $1.5M | $1.6M | $1.1M | $1.4M |
| Total operating expenses | $1.9M | $948,185 | $9.1M | $2.2M | $2.1M | $2.0M | $1.3M | $2.0M | $2.0M | $2.1M | $8.2M | $1.9M |
| Operating income | −$2.2M | −$85,965 | $38,219 | $273,961 | $3.3M | −$69,157 | $1.3M | $1.8M | $2.0M | $765,831 | $1.2M | −$386,673 |
| Interest income | $9,790 | $37,446 | $12,701 | $61,292 | $26,667 | $49,573 | $55,252 | $31,565 | $61,440 | $48,197 | $55,244 | $5,380 |
| Interest expense | $128,612 | $134,069 | $95,242 | $136,465 | $184,126 | $198,019 | $145,127 | $132,741 | $157,131 | $175,266 | $128,699 | $119,599 |
| Income before taxes | −$2.3M | −$236,676 | $54,717 | $204,949 | $3.2M | −$153,678 | $721,766 | $1.5M | $2.0M | $780,387 | $1.3M | −$284,039 |
| Income taxes | $474,397 | $46,681 | — | −$181,739 | $1.0M | $110,363 | −$338,833 | $367,615 | $558,251 | $264,178 | — | $219,712 |
| Net income | −$1.9M | −$241,420 | −$460,926 | −$503,358 | $2.0M | −$277,734 | $679,649 | $611,858 | $1.3M | $457,226 | $1.8M | −$718,161 |
| EBITDA | −$1.6M | $406,888 | $670,632 | $826,336 | $3.8M | $509,539 | $1.4M | $2.1M | $2.7M | $1.4M | — | $312,208 |
| EPS (diluted) | −$0.15 | −$0.02 | −$0.03 | −$0.04 | $0.15 | −$0.02 | $0.05 | $0.05 | $0.10 | $0.04 | $0.15 | −$0.06 |
| Gross margin | −3.8% | 10.4% | 29.4% | 23.9% | 47.4% | 26.1% | 29.2% | 40.9% | 37.4% | 30.6% | 29.1% | 16.9% |
| Operating margin | −29.2% | −1.0% | 0.4% | 2.6% | 29.0% | −0.9% | 14.5% | 19.1% | 18.7% | 8.3% | 13.1% | −4.4% |
| Net margin | −25.1% | −2.9% | −5.1% | −4.8% | 17.8% | −3.7% | 7.4% | 6.6% | 12.3% | 5.0% | 19.1% | −8.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FSI's financial statements (latest annual report filed April 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FSI financial results
In fiscal year 2025 (ended December 31, 2025), Flexible Solutions International reported revenue of $38.5 million, up 0.7% from the year before. It had net income of $0.8 million (down 74.1%), a net profit margin of 2.0%. Diluted earnings per share came to $0.06. Over five years revenue grew at an average rate of 4.2% a year.
See the FSI stock overview for the latest quote and news, or the FSI chart for price history and technical indicators.
FSI income statement FAQ
What is Flexible Solutions International's annual revenue?
Flexible Solutions International reported total revenue of $38.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 0.7% from $38.2 million the previous year.
Is Flexible Solutions International profitable?
Yes. Flexible Solutions International reported net income of $0.8 million in fiscal 2025, a net profit margin of 2.0%; its operating margin was 9.3%.
What is Flexible Solutions International's gross margin?
Flexible Solutions International's gross margin was 22.6% in fiscal 2025: for every $100 of revenue, Flexible Solutions International kept $23 after the direct cost of its products and services.
How much does Flexible Solutions International spend on research and development?
Flexible Solutions International spent $2.5 million on research and development in fiscal 2025, 6.5% of revenue.
How fast is Flexible Solutions International growing?
Revenue grew 4.2% a year on average over the last five fiscal years, from $31.4 million to $38.5 million.
What are Flexible Solutions International's earnings per share?
Flexible Solutions International earned $0.06 per diluted share in fiscal 2025, compared with $0.24 a year earlier.
When will Flexible Solutions International report its next earnings?
Flexible Solutions International is expected to report results for the quarter ending September 30, 2026 on November 13, 2026.
When does Flexible Solutions International's fiscal year end?
Flexible Solutions International's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 15, 2026.