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FGNX

FG Nexus Inc.

FGNX

FG Nexus Inc. • NASDAQ
$3.18 ▲ 10.42% (+0.30)
Market Cap $126.11 M
52w High $41.25
52w Low $2.29
Dividend Yield 0%
P/E -0.58
Volume 723.88K
Outstanding Shares 39.66M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $892K ▼ $-3.355M ▼ $-3.391M ▼ -380.157% ▼ $-0.33 ▼ $4.324M ▼
Q2-2025 $9.085M ▲ $3.827M ▲ $5.472M ▲ 60.231% ▲ $3.93 ▲ $5.473M ▲
Q1-2025 $392K ▲ $3.525M ▲ $-9.755M ▼ -2.489K% ▼ $-8.03 ▼ $-8.644M ▼
Q4-2024 $-15.103M ▼ $-7.98M ▼ $-8.604M ▼ 56.969% ▼ $-7.15 ▼ $-6.469M ▼
Q3-2024 $17.522M $16.513M $17.659M 100.782% $15.06 $-5.011M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.495M ▼ $244.737M ▲ $13.716M ▼ $231.021M ▲
Q2-2025 $11.076M ▲ $92.862M ▼ $23.515M ▼ $69.347M ▲
Q1-2025 $10.389M ▼ $100.309M ▼ $36.156M ▲ $64.153M ▼
Q4-2024 $13.557M ▲ $109.469M ▼ $35.272M ▲ $74.197M ▼
Q3-2024 $6.46M $115.959M $32.759M $83.2M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.137M ▼ $-632K ▲ $-165.379M ▼ $163.649M ▲ $-3.581M ▼ $-617K ▲
Q2-2025 $5.048M ▲ $-1.196M ▲ $7.562M ▲ $-969K ▼ $5.407M ▲ $-1.197M ▲
Q1-2025 $-8.797M ▼ $-2.923M ▼ $1.519M ▼ $-720K ▼ $-2.125M ▼ $-2.937M ▼
Q4-2024 $-8.604M ▼ $-966K ▼ $2.849M ▼ $-526K ▲ $1.334M ▲ $-960K ▼
Q3-2024 $-5.242M $2K $6.032M $-5.513M $610K $-30K

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Installation Services
Installation Services
 $0 ▲$0 ▲$0 ▲$0 ▲
Other Product Sales
Other Product Sales
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $10.00M ▲$0 ▼$0 ▲$10.00M ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Service Other
Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement FG Nexus still looks more like an early-stage, experimental platform than a mature financial services company. Revenue over the past several years has been very small and sometimes even negative, which suggests limited ongoing business activity and possibly accounting reclassifications or mark‑to‑market effects rather than a stable operating franchise. Operating results have been consistently in the red, with losses at every step from gross profit down through operating income and EBITDA. The encouraging sign is that losses appear to have narrowed recently, with net income hovering closer to break‑even than in the past, but this is happening off a very small base. Overall, the income statement tells a story of a company still building its model, not one that has yet demonstrated durable, recurring earnings power.

Balance Sheet

Balance Sheet The balance sheet is small but has been gradually strengthening. Total assets have grown over time, which likely reflects the build‑up of digital assets and related investments. Equity has also edged up, suggesting the company has either raised capital or slowly rebuilt its capital base despite prior losses. Debt levels appear low and have even moved toward being debt‑free recently, which reduces financial risk but also means growth is more dependent on equity and retained capital. Cash balances are modest, so while the company doesn’t look heavily levered, it also doesn’t appear to have a deep liquidity cushion. In short, the balance sheet is lean, lightly geared, and still vulnerable to shocks, especially swings in the value of its digital holdings.

Cash Flow

Cash Flow Cash flow patterns reinforce the picture of a company in transition. Historically, operating cash flow has been negative, indicating the core activities consumed cash rather than generating it. More recently, operating and free cash flow have moved closer to neutral, which may reflect tighter cost control, lower activity, or some stabilization in the business model. Capital spending has been negligible, so almost all cash movement relates to operations and financing rather than big physical investments. The upside is that the cash burn does not appear extreme; the downside is that there is not yet clear evidence of a self‑funding, cash‑generative operation. Future performance will depend heavily on how well the Ethereum‑centric strategy converts into recurring, on‑chain revenue streams.

Competitive Edge

Competitive Edge FG Nexus is trying to carve out a very specific niche at the junction of traditional markets and blockchain. Its first‑mover effort to tokenize its own Nasdaq‑listed common and preferred shares on Ethereum is unusual and gives it a visibility edge in the tokenization theme. The combination of a public listing, on‑chain share registry, and programmable dividends is a differentiated proposition relative to both conventional financial firms and typical crypto projects. Strategic partnerships with established digital asset infrastructure providers further strengthen its positioning and credibility. However, the moat is still emerging: competitors—both traditional financial institutions and crypto‑native firms—could move into the same space, and the overall tokenization market is still unproven at scale. The company’s competitive position is therefore promising but not yet firmly entrenched.

Innovation and R&D

Innovation and R&D Innovation is clearly the centerpiece of FG Nexus’s identity. The company is pioneering native tokenization of its equity, where the legally recognized shares themselves live on Ethereum, enabling near real‑time settlement, on‑chain ownership, and automated compliance. Bringing a dividend‑paying preferred stock fully on‑chain is a notable proof of concept for using smart contracts in corporate finance. FG Nexus’s strategic decision to concentrate on Ethereum, including staking and related yield strategies, signals a focused R&D and product roadmap rather than a broad, unfocused crypto bet. Its leadership combines traditional finance and crypto expertise, which is a key intangible asset as it experiments with new on‑chain business models. The main risks are execution, regulatory uncertainty, and dependence on the success and stability of the Ethereum ecosystem itself.

Summary

Overall, FG Nexus is a small, loss‑making company that has reinvented itself around digital assets and tokenization, with a particularly strong emphasis on Ethereum. The financials point to an early‑stage profile: minimal revenue, historically persistent but narrowing losses, a lean balance sheet with limited debt, and modest but not yet robust cash generation. Strategically, the company is attempting to lead in tokenized public equity and Ethereum‑based corporate finance, supported by credible partners and a focused technology vision. The opportunity lies in being an early architect of on‑chain capital markets; the key risks lie in scale, volatility of digital assets, regulatory developments, and the challenge of turning innovative structures into stable, recurring earnings. Uncertainty is high in both directions: the upside is tied to the success of tokenization and Ethereum, while the downside stems from the small size of the business and its concentrated, experimental strategy.

NEWS

November 20, 2025 · 8:53 AM UTC

FG NEXUS ANNOUNCES THIRD QUARTER HIGHLIGHTS AND SHAREHOLDER UPDATE

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November 19, 2025 · 7:30 AM UTC

FG Nexus CEO of Digital Assets Maja Vujinovic to Participate in the 2025 Clear Street Disruptive Technology Conference

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November 17, 2025 · 7:30 AM UTC

FG Nexus Inc. Declares Cash Dividend on Its 8.00% Cumulative Preferred Stock, Series A

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November 10, 2025 · 7:30 AM UTC

FG Nexus to Present at the 2025 Cantor Crypto & AI/Energy Infrastructure Conference

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October 30, 2025 · 7:30 AM UTC

FG Nexus Announces Listing on Deutsche Börse in Germany U.S. NASDAQ Ticker is FGNX and German Borse Ticker is LU51

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