Core Viewpoint - Flexible Solutions International, Inc. reported significant financial improvements for the year ended December 31, 2024, with increased net income and cash flow, while also highlighting future growth opportunities in various markets [2][3]. Financial Performance - Sales for the full year 2024 were $38,234,860, a slight decrease from $38,324,806 in 2023 [6][7]. - Net income for 2024 was $3,038,529, or $0.24 per share, compared to $2,775,864, or $0.22 per share in 2023, indicating a year-over-year increase in profitability [6][7]. - Non-GAAP operating cash flow for 2024 was $7,082,952, or $0.57 per share, up from $4,604,320, or $0.37 per share in 2023, reflecting a substantial improvement in cash generation [6][7]. Business Developments - The company is focusing on expanding its presence in the food and nutrition supplement manufacturing markets, alongside its established operations in biodegradable polymers for oil extraction, detergent ingredients, and water treatment [2][4]. - The NanoChem division and ENP subsidiary remain the primary sources of revenue and cash flow, with new opportunities emerging in various sectors including detergent, water treatment, and agriculture [4]. Future Outlook - The CEO indicated potential purchase orders that could significantly boost revenue by Q4 2025 and into 2026, alongside efforts to mitigate tariff impacts on international sales [3][4]. - The company is actively working to recover previously paid tariffs, which is expected to contribute to growth in the coming years [3].
FSI ANNOUNCES FULL YEAR, 2024 FINANCIAL RESULTS