Fundamental Global Inc. (FGF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to Green First's second quarter of 2025 results conference call. Please note that all lines are muted to prevent any background noise. During this conference call, Green First representatives will be making certain statements about future financial and operational performance, business outlook, and capital plans. These statements may contain forward-looking information or forward-looking statements within the meaning of Canadian securities law. Such statements involve certain risks, uncertainties, and assumptions, which may cause Green First's actual or future results and performance to be materially different from those expressed or implied in these statements. Additional information about these risks, factors, and assumptions is included in Green First MD&A and annual AIF, which can be accessed on the company's website or through CDAR+. After the speaker's remarks, there will be a question and answer session. Please submit your questions through the online portal. I will now turn the call over to Joël Fournier to begin the management presentation. Thank you very much, Joanne, and good morning, everyone, and welcome to our Q2 2025 earning call. I'm Joël Fournier, the Chief Executive Officer of Green Forest Forest Products. Today, I'm joined by Peter Ferrante, our CFO, and Michel Lessard, our President. We did end up with a negative EBITDA of $5.2 million in Q2 2025. The loss is primarily due to higher cost of selling, higher SG&E, and lower byproduct revenue. In Q2, the cost of selling was impacted with inventory adjustment representing higher costs coming from finished goods we produce in Q1 and sold during the quarter two of 2025. Our manufacturing costs did improve in Q2. SG&E was impacted negatively as well with a ...