$FSI

FLEXIBLE SOLUTIONS INTERNATIONAL INC

CIK:0001069394|SEC Filings

Condensed Interim Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Sales
Total sales	$ 7,610,148	$ 11,367,132	$ 15,907,145	$ 18,840,824
Cost of sales	7,897,914	5,981,866	14,305,605	11,503,994
Gross profit	(287,766)	5,385,266	1,601,540	7,336,830
Operating expenses
Professional fees	298,358	191,970	367,653	454,603
Research and development	107,940	167,247	224,473	274,048
Selling, general, and administrative	532,599	834,145	1,294,956	1,590,195
Wages, administrative salaries and benefits	994,443	894,790	2,021,529	1,790,027
Total operating expenses	1,933,340	2,088,152	3,908,611	4,108,873
Operating profit (loss)	(2,221,106)	3,297,114	(2,307,071)	3,227,957
Non-operating income (expense)
(Loss) income from investments (Note 7)		21,735	(54,088)	85,660
Interest expense	(128,612)	(184,126)	(262,681)	(382,145)
Interest income	9,790	26,667	47,236	76,240
Total non-operating expense	(118,822)	(135,724)	(269,533)	(220,245)
Income (loss) before income tax	(2,339,928)	3,161,390	(2,576,604)	3,007,712
Income taxes
Current income tax benefit (expense)	474,397	(1,016,156)	427,716	(1,126,519)
Net income (loss)	(1,865,531)	2,145,234	(2,148,888)	1,881,193
Net income attributable to non-controlling interests	(47,436)	(116,322)	(5,499)	(130,015)
Net income (loss) attributable to Flexible Solutions International Inc.	$ (1,912,967)	$ 2,028,912	$ (2,154,387)	$ 1,751,178
Net income (loss) per share (basic)	$ (0.15)	$ 0.16	$ (0.17)	$ 0.14
Net income (loss) per share (diluted)	$ (0.15)	$ 0.15	$ (0.17)	$ 0.13
Weighted average number of common shares (basic)	12,744,311	12,647,532	12,736,559	12,617,808
Weighted average number of common shares (diluted)	12,744,311	13,267,333	12,736,559	13,382,735
Other comprehensive income (loss):
Net income (loss)	$ (1,865,531)	$ 2,145,234	$ (2,148,888)	$ 1,881,193
Unrealized gain (loss) on foreign currency translations	(40,400)	80,514	(126,683)	269,354
Total comprehensive income (loss)	(1,905,931)	2,225,748	(2,275,571)	2,150,547
Comprehensive income – non-controlling interests	(47,436)	(116,322)	(5,499)	(130,015)
Comprehensive income (loss) attributable to Flexible Solutions International Inc.	(1,953,367)	2,109,426	(2,281,070)	2,020,532
Product [Member]
Sales
Total sales	7,610,148	8,867,132	15,907,145	16,340,824
Research And Development Services [Member]
Sales
Total sales		$ 2,500,000		$ 2,500,000

Condensed Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income (loss) for the period	$ (2,148,888)	$ 1,881,193
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock based compensation	219,546	195,840
Depreciation and amortization	1,072,424	960,093
Non cash operating lease expense	173,079
Loss (income) from investments	54,088	(85,660)
(Gain) loss on sale of automobiles	22,560
Changes in operating assets and liabilities:
Accounts receivable	7,854,839	3,097,017
Inventories	(4,552,655)	(444,706)
Prepaid expenses and deposits	620,628	798,654
Long term deposits	386,910	(1,292,464)
Accounts payable	847,760	(331,512)
Accrued liabilities	(296,409)	(194,872)
Deferred revenue	(47,003)	(40,455)
Income taxes payable	(711,630)	195,509
Cash provided by operating activities	3,495,249	4,738,637
Investing activities
Maturities of term deposits, net	733,340	1,014,766
Purchase of property, equipment and leaseholds	(2,979,557)	(1,331,042)
Cash used in investing activities	(2,246,217)	(316,276)
Financing activities
Repayment of short-term lines of credit, net	(462,484)	(1,342,067)
Repayment of long-term debt	(198,422)	(1,234,489)
Dividends paid		(1,274,753)
Distribution to non-controlling interest	(68,659)	(252,169)
Distribution received upon dissolution of subsidiary	72,953
Proceeds from shares issued upon exercise of stock options	106,300	393,890
Cash used by financing activities	(550,312)	(3,709,588)
Effect of exchange rate changes on cash	(126,683)	269,354
Increase (decrease) in cash	572,037	982,127
Cash, beginning of year	6,625,748	7,631,055
Cash, end of period	7,197,785	8,613,182
Supplemental schedule of non-cash financing and investing activities
Equity investment carrying amount transferred to intangible asset on settlement	1,530,236
Equity Investment accounts receivable amount transferred to intangible asset on settlement	$ 326,342

Condensed Interim Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current
Cash	$ 7,197,785	$ 6,625,748
Term deposits (Note 2)	652,810	1,386,150
Accounts receivable, net (Note 4)	4,440,720	12,621,901
Inventories (Note 5)	15,094,292	10,541,637
Prepaid expenses and deposits	706,009	1,326,637
Property held for sale	425,000	425,000
Investments (Note 7)	470,000
Total current assets	28,986,616	32,927,073
Property, equipment and leaseholds, net (Note 6)	18,106,665	16,142,092
Right of use assets, net (Note 3)	3,565,221	3,790,687
Investments (Note 7)		2,054,324
Intangible assets	3,736,578	1,960,000
Long term deposits	2,037,018	2,423,928
Goodwill	2,534,275	2,534,275
Total Assets	58,966,373	61,832,379
Current
Accounts payable	3,069,171	2,221,411
Accrued liabilities	204,766	501,175
Deferred revenue	77,941	124,944
Income taxes payable	4,349,687	5,061,317
Short term lines of credit (Note 8)	1,685,902	2,148,386
Current portion of lease liabilities (Note 3)	478,019	299,445
Current portion of long-term debt (Note 9)	429,685	396,961
Total current liabilities	10,295,171	10,753,639
Right of use liabilities, net (Note 3)	3,692,977	3,923,938
Deferred income tax liability	277,417	277,417
Long term debt (Note 9)	3,813,553	4,044,699
Total Liabilities	18,079,118	18,999,693
Commitments and Contingencies (Notes 8 and 9)
Stockholders’ Equity
Authorized: 50,000,000 common shares with a par value of $0.001 each; 1,000,000 preferred shares with a par value of $0.01 each Issued and outstanding: 12,767,498 (December 31, 2025: 12,722,498) common shares	12,768	12,723
Capital in excess of par value	20,294,689	19,895,935
Accumulated other comprehensive loss	(474,570)	(347,887)
Accumulated earnings	17,194,281	19,348,668
Total stockholders’ equity – Flexible Solutions International Inc.	37,027,168	38,909,439
Non-controlling interests (Note 12)	3,860,087	3,923,247
Total Stockholders’ Equity	40,887,255	42,832,686
Total Liabilities and Stockholders’ Equity	$ 58,966,373	$ 61,832,379