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EX - 99.34 ea029930001 ex99-3.htm PRESS RELEASE DATED JULY 28 , 2026 Exhibit 99.3 FST Corp. Reports Second Quarter 2026 Financial Results 10 Percent Revenue Increase Year - over - Year ; Operating Income and Bottom - Line Improvements Year - over - year ; Board Approves Share Repurchase Program of up to $ 3 million . -- BOULDER , Colo . , July 28 , 2026 ( GLOBE NEWSWIRE ) - FST Corp. ( Nasdaq : KBSX ) ( " FST " or the " Company " ) , a leading manufacturer and marketer of steel and graphite golf shafts and a provider of other golf - related services , today announced its unaudited financial results for the second quarter ended June 30 , 2026 . Revenue for second quarter was $ 12,552,012 , a 9.7 percent increase from revenue of $ 11,437,270 for the second quarter of 2025 . This increase was mainly the result of additional aftermarket sales in both the Company's steel and graphite lines . Net loss for the second quarter was $ 1,046,379 , or ( $ 0.02 ) per share , compared to a net loss of $ 3,029,029 , or $ ( 0.07 ) per share , in the same period of 2025. This improvement was primarily the result of a $ 752,673 improvement in gross profit driven by increased revenue and a change in product mix , a decline in total costs and operating expenses of $ 196,714 , and a $ 2,394,387 improvement in foreign exchange loss . These improvements were offset in part by an unrealized loss on change in fair value of warrant liability of $ 721,171 compared to no such charge in the second quarter of last year , an income tax expense of $ 282,578 compared to an income tax benefit of $ 128,747 in the year ago period , and by a decrease in other income of $ 224,370 compared to Q2 2025 . Operating income in Q2 2026 was $ 259,899 , an improvement of $ 949,387 compared to an operating loss of $ 689,488 in the second quarter of 2025 . For the first six months of 2026 , the Company was profitable , reporting net income of $ 831,189 , or $ 0.02 per share , a $ 6,658,236 improvement from a net loss of $ 5,827,047 , or $ ( 0.13 ) per share , in the first half of 2025 . The weighted average number of shares outstanding for the second quarter of 2026 and 2025 was 44,766,003 . As of June 30 , 2026 , and December 31 , 2025 , the Company had cash and cash equivalents of $ 8,221,962 and $ 7,179,800 , total assets of $ 62,890,586 and $ 60,921,557 , total liabilities of $ 46,940,722 and $ 45,370,369 , and total shareholders ' equity of $ 15,949,864 and $ 15,551,188 , respectively . For the first six months of 2026 , net cash provided by operating activities was $ 1,148,290 compared with net cash used in operating activities of $ 4,315,501 for the first six months of 2025. For the first six months of 2026 and 2025 , net cash used in investing activities was $ 1,053,088 and $ 241,198 , and net cash provided by financing activities was $ 1,739,975 and $ 3,435,609 , respectively . Management believes that its current liquidity , together with cash flows from operations and available credit facilities , will be sufficient to fund operating requirements for the next 12 months . " We're pleased to report that our strong start to the year has continued throughout the second quarter , during which we've grown aftermarket revenue in both our steel and graphite lines and improved gross margins while reducing our operating expenses , ” said FST Chairman and Chief Executive Officer David Chuang . “ In addition , the flexibility utilized in our capital structure has enabled us to lay the foundation for providing greater long - term value for our shareholders . "