---
title: "FST Corp. Reports Second Quarter 2026 Financial Results | KBSX Stock News"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/294107300.md"
description: "FST Corp. reported Q2 2026 revenue of $12.55 million, a 9.7% increase year-over-year, with net loss narrowing to $1.05 million from $3.03 million in the prior year period. Operating income improved significantly to $259,899. For the first half of 2026, the company returned to profitability with net income of $831,189. The Board approved a share repurchase program of up to $3 million, citing confidence in long-term strategy and growth."
datetime: "2026-07-28T12:05:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/294107300.md)
  - [en](https://longbridge.com/en/news/294107300.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/294107300.md)
generator: "portal-rs"
---

# FST Corp. Reports Second Quarter 2026 Financial Results | KBSX Stock News

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***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, Colorado--(Newsfile Corp. - July 28, 2026) - **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 the 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 with 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.

**FST Corp.  
CONSOLIDATED BALANCE SHEETS  
(In U.S. dollars, except for share data, or otherwise noted)**

**As of**  
**June 30,**  
**2026**

**As of**  
**December 31,**  
**2025**

**(Unaudited)**

**ASSETS**

**Current assets**

Cash and cash equivalents

8,221,962

7,179,800

Restricted cash

486,702

158,865

Accounts and notes receivable, net

6,301,127

6,979,725

Prepaid tax

-

93,589

Inventories, net

12,463,255

11,812,740

Amounts due from a related party

77,267

73,820

Prepaid expenses and other current assets

2,218,321

1,188,451

**Total current Assets**

29,768,634

27,486,990

**Non-current assets**

Property, plant and equipment, net

18,343,684

19,044,954

Intangible assets, net

4,679,797

4,832,114

Long-term investments

737,978

551,628

Right-of-use assets

5,796,388

5,761,176

Deferred tax assets, net

1,677,753

1,692,802

Prepayment and other non-current assets

1,886,352

1,551,893

**Total non-current assets**

33,121,952

33,434,567

**Total assets**

62,890,586

60,921,557

**LIABILITIES**

**Current liabilities**

Short-term bank borrowings

20,867,343

18,199,806

Accounts payables

2,554,719

3,032,860

Operating lease liabilities, current

1,698,015

2,328,227

Amounts due to related parties

163,751

137,548

Current tax liabilities

696,642

367,902

Accrued expenses and other current liabilities

5,776,163

6,355,964

**Total current Liabilities**

31,756,633

30,422,307

**Non-current liabilities**

Long-term bank borrowings

9,584,042

10,963,881

Operating lease liabilities, non-current

4,874,565

3,974,560

OET derivative liability

-

5,310

Warrant liabilities

725,482

4,311

**Total non-current liabilities**

15,184,089

14,948,062

**Total Liabilities**

46,940,722

45,370,369

**SHAREHOLDERS' EQUITY**

**Ordinary share (par value of US$0.0001 per share; 500,000,000 shares authorized; 44,766,003 shares issued and outstanding)**

4,477

4,477

Additional paid in capital

15,443,336

15,396,434

Retained earnings

2,381,596

1,566,364

Accumulated other comprehensive loss

(2,017,338

)

(1,537,922

)

**Total FST Corp. shareholder's equity**

15,812,071

15,429,353

Non-controlling interests

137,793

121,835

**Total shareholder's equity**

15,949,864

15,551,188

**Total liabilities and shareholders' equity**

62,890,586

60,921,557

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND  
COMPREHENSIVE LOSS  
(In U.S. dollars, except for share data, or otherwise noted)**

**For the three Months Ended**  
**June 30**

**For the six Months Ended**  
**June 30**

**2026**

**2025**

**2026**

**2025**

Revenue

12,552,012

11,437,270

27,198,366

22,193,432

Cost of sales

6,539,950

6,177,881

13,629,833

11,978,297

**Gross profit**

6,012,062

5,259,389

13,568,533

10,215,135

**COSTS AND OPERATING EXPENSES:**

Selling expenses

3,166,484

3,315,626

6,034,397

6,232,888

General and administrative expenses

2,170,587

2,285,558

4,287,571

4,811,121

Research and development expenses

415,092

347,693

808,464

700,373

**Total costs and operating expenses**

5,752,163

5,948,877

11,130,432

11,744,382

**GAIN (LOSS) FROM OPERATIONS**

259,899

(689,488

)

2,438,101

(1,529,247

)

**OTHER (EXPENSE) INCOME**

Interest expense, net

(218,175

)

(208,607

)

(444,591

)

(402,491

)

Foreign exchange gain(loss)

(115,615

)

(2,510,002

)

278,457

(2,215,654

)

Other income, net

25,951

250,321

65,051

282,405

Unrealized gain(loss) on change in fair value of OET derivative liability

5,310

-

5,310

(1,884,824

)

Unrealized loss on change in fair value of Warrant liability

(721,171

)

-

(721,171

)

-

**Total other loss, net**

(1,023,700

)

(2,468,288

)

(816,944

)

(4,220,564

)

**PROFIT (LOSS) BEFORE INCOME TAX EXPENSES**

(763,801

)

(3,157,776

)

1,621,157

(5,749,811

)

INCOME TAX EXPENSES

282,578

(128,747

)

789,968

77,236

**NET INCOME (LOSS)**

(1,046,379

)

(3,029,029

)

831,189

(5,827,047

)

Less: net income(loss) attributable to non-controlling interests

3,566

(19,992

)

15,958

(38,459

)

**Net income (loss) attributable to FST Corp.'s shareholders**

(1,049,945

)

(3,009,037

)

815,231

(5,788,588

)

**OTHER COMPREHENSIVE INCOME(LOSS)**

Foreign currency translation adjustment

(408,157

)

2,438,330

(479,416

)

2,434,922

**TOTAL COMPREHENSIVE INCOME(LOSS)**

(1,454,536

)

(590,699

)

351,773

(3,392,125

)

Less: total comprehensive income (loss) attributable to non-controlling interests

4,036

(3,899

)

15,958

(22,388

)

**Comprehensive income (loss) attributable to FST Corp.'s shareholders**

(1,458,572

)

(586,800

)

335,815

(3,369,737

)

Weighted average number of shares outstanding, basic and diluted

44,766,003

44,766,003

44,766,003

44,766,003

Earnings per share, basic and diluted

(0.02

)

(0.07

)

0.02

(0.13

)

**UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  
(In U.S. dollars)**

**For the Six Months Ended**  
**June 30**

**2026**

**2025**

**CASH FLOWS FROM OPERATING ACTIVITIES:**

Net cash provided by operating activities

1,148,290

(4,315,501

)

**CASH FLOWS FROM INVESTING ACTIVITIES:**

Purchase of property, plant and equipment

(831,405

)

(121,491

)

Purchase of intangible assets

(30,983

)

(21,996

)

Disposal of property and equipment

-

6,635

Purchase of long-term investments

(190,700

)

(104,346

)

Disposal of short-term investments

-

-

Net cash used in investing activities

(1,053,088

)

(241,198

)

**CASH FLOWS FROM FINANCING ACTIVITIES:**

Proceeds from bank borrowings

25,422,785

21,975,236

Repayments of bank borrowings

(23,682,810

)

(18,500,873

)

Buy back treasury shares

-

(38,754

)

Net cash provided by financing activities

1,739,975

3,435,609

Effect of foreign exchange rate on cash, cash equivalents and restricted cash

(465,178

)

2,849,580

Net increase in cash and cash equivalents

1,369,999

1,728,490

Cash, cash equivalents and restricted cash at the beginning of period

7,338,665

5,302,199

Cash, cash equivalents and restricted cash at the end of period

8,708,664

7,030,689

**SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:**

Interest expenses paid

355,506

303,125

Income taxes paid

364,553

114,019

Right of use assets obtained in exchange for operating lease obligations

1,696,192

335,513

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306961

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**