FGNX

MKT CAP:$54M

FG Nexus Inc.

Market Cap

$54M

Financial Services·Insurance - Diversified·🇺🇸 United States·NASDAQ

Financials·Insurance·🇺🇸·NASDAQ

Stock Price

$6.50-$9.65 (-59.75%)

Apr 20, 2026

Company Details

FG Nexus, Inc. engages in the provision of reinsurance, asset management and merchant banking services. The company was founded in October 2012 and is headquartered in Charlotte, NC.

CEO

Daniel Kyle Cerminara

IPO Date

Apr 1, 2014

Website

www.fgnexus.io

Key Metrics TTM

Revenue

$3M

-67.6% YoY

Net Income

-$4M

EPS (Diluted)

$59.95

Free Cash Flow

-$9M

Revenue / Share

$10.68

Gross Margin

-411.9%

Operating Margin

-138.4%

Net Margin

-160.7%

FCF Margin

-325.4%

P/S

20.0x

P/E

—

Earnings Reports

Q1 2025

May 13, 2026

PENDING

Q4 2024

Mar 31, 2025

-$15M-288.5%EPS -$35.75

Q2 2024

Aug 14, 2024

$5MEPS -$27.50

Q4 2023

Mar 14, 2024

$8MEPS -$8.05

FY 2022

Mar 24, 2023

$12MEPS -$10.90

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 16	$8M	$4M	$2M
Q1 17	$9M	$3M	$381.0K
Q2 17	$9M	$4M	$2M
Q3 17	$9M	-$1M	-$3M
Q4 17	$11M	$6M	$3M
Q1 18	$14M	$6M	$2M
Q2 18	$286.0K	-$10M	-$17.0K
Q3 18	$299.0K	-$12M	-$1M
Q4 18	$16M	$4M	$310.0K
Q1 19	$456.0K	-$13M	-$497.0K
Q3 20	-$8M	-$8M	-$10M
Q4 20	-$405.0K	-$405.0K	-$2M
Q3 22	$5M	$1M	$10M
Q4 23	$8M	$3M	-$210.0K
Q2 24	$5M	-$345.0K	-$7M
Q4 24	-$15M	-$15M	-$7M

Valuation

Quarter	P/S	P/E
Q4 16	1.3x	3953.1x
Q1 17	1.4x	34.1x
Q2 17	1.4x	49.7x
Q3 17	1.3x	92.3x
Q4 17	1.1x	147.6x
Q1 18	1.0x	21.4x
Q2 18	1.2x	34.8x
Q3 18	1.5x	28.7x
Q4 18	0.8x	30.1x
Q1 19	1.9x	—
Q3 20	2.5x	—
Q4 20	2.3x	—
Q3 22	—	—
Q4 23	5.4x	—
Q2 24	1.6x	12.1x
Q4 24	9.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 16	$2M	$2M
Q1 17	$1M	$1M
Q2 17	$7M	$7M
Q3 17	-$4M	-$4M
Q4 17	$4M	$4M
Q1 18	$11M	$11M
Q2 18	$5M	$5M
Q3 18	$5M	$5M
Q4 18	$3M	$3M
Q1 19	$2M	$2M
Q3 20	-$2M	-$2M
Q4 20	-$7M	-$7M
Q3 22	-$3M	-$3M
Q4 23	-$3M	-$2M
Q2 24	-$3M	-$3M
Q4 24	-$966.0K	-$960.0K

Capital Expenditures

Quarter	CapEx
Q4 16	$2.0K
Q1 17	$12.0K
Q2 17	$2.0K
Q3 17	$4.0K
Q4 17	$10.0K
Q1 18	$66.0K
Q2 18	$16.0K
Q3 18	$4.0K
Q4 18	$6.0K
Q1 19	$3.0K
Q3 20	$3.0K
Q4 20	$10.0K
Q3 22	$20.0K
Q4 23	$1M
Q2 24	$3.0K
Q4 24	$6.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 16	+7.6%	-12.9%
Q1 17	+1.4%	-19.0%
Q2 17	+13.0%	+28.4%
Q3 17	+22.6%	+24.3%
Q4 17	+37.2%	+40.2%
Q1 18	+55.3%	+34.6%
Q2 18	-96.8%	-95.9%
Q3 18	-96.8%	-88.4%
Q4 18	+43.3%	+91.8%
Q1 19	-96.6%	-91.5%
Q3 20	-2788.8%	+527.1%
Q4 20	-235.5%	+7.2%
Q3 22	-71.6%	-136.4%
Q4 23	+1657.5%	+763.0%
Q2 24	+168.2%	+526.6%
Q4 24	-3629.1%	-600.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 16	$8.0K	0.1%
Q1 17	$7.0K	0.1%
Q2 17	$6.0K	0.1%
Q3 17	$6.0K	0.1%
Q4 17	$12.0K	0.1%
Q1 18	$44.0K	0.3%
Q2 18	$91.0K	31.8%
Q3 18	$101.0K	33.8%
Q4 18	$101.0K	0.6%
Q1 19	$52.0K	11.4%
Q3 20	$0	—
Q4 20	$148.0K	—
Q3 22	$65.0K	1.4%
Q4 23	$483.0K	6.0%
Q2 24	$377.0K	7.2%
Q4 24	$454.0K	—

OpEx Breakdown

Quarter	G&A	S&M
Q4 16	$1M	$322.0K
Q1 17	$2M	—
Q2 17	$2M	—
Q3 17	$2M	—
Q4 17	$3M	—
Q1 18	$3M	—
Q2 18	$303.0K	—
Q3 18	$487.0K	—
Q4 18	$4M	—
Q1 19	$953.0K	—
Q3 20	$2M	—
Q4 20	$2M	—
Q3 22	$2M	—
Q4 23	$2M	—
Q2 24	$4M	$369.0K
Q4 24	$2M	$305.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$8M	$0	$8M
Q2 22	$4M	$0	$4M
Q3 22	$4M	$0	$4M
Q4 22	$4M	$0	$4M
Q1 23	$4M	$0	$4M
Q2 23	$5M	$0	$5M
Q3 23	$3M	$0	$3M
Q4 23	$6M	$11M	$17M
Q1 24	$7M	$0	$7M
Q2 24	$6M	$0	$6M
Q3 24	$6M	$0	$6M
Q4 24	$8M	$6M	$14M
Q1 25	$6M	$5M	$10M
Q2 25	$11M	$0	$11M
Q3 25	$7M	$0	$7M
Q4 25	$13M	$0	$13M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 16	48K	-1.0%	-3.4%
Q1 17	48K	-0.1%	-2.5%
Q2 17	48K	0.0%	-2.3%
Q3 17	48K	+0.1%	-1.0%
Q4 17	48K	+0.7%	+0.7%
Q1 18	49K	+1.5%	+2.3%
Q2 18	48K	-1.8%	+0.5%
Q3 18	48K	+0.1%	+0.5%
Q4 18	50K	+4.6%	+4.3%
Q1 19	48K	-4.0%	-1.3%
Q3 20	47K	-2.0%	-1.5%
Q4 20	43K	-8.9%	-10.4%
Q3 22	75K	+73.8%	+49.0%
Q4 23	82K	+9.1%	+69.4%
Q2 24	228K	+179.9%	+383.9%
Q4 24	253K	+10.9%	+489.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 16	$301.2K	27
Q1 17	$322.9K	27
Q2 17	$330.5K	27
Q3 17	$346.4K	27
Q4 17	$371.8K	30
Q1 18	$451.3K	30
Q2 18	$9.5K	30
Q3 18	$10.0K	30
Q4 18	$431.9K	37
Q1 19	$12.3K	37
Q3 20	-$4M	2
Q4 20	-$135.0K	3
Q3 22	$505.0K	9
Q4 23	$1M	6
Q2 24	$874.2K	6
Q4 24	-$116.2K	130

Revenue / Employee