Toughbuilt Industries, Inc

toughbuilt.com

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2023 10-K, filed Dec 23, 2024. Its latest SEC filing is a REVOKED from Jul 20, 2026.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Designs, manufactures, and distributes tools and accessories for construction professionals and do-it-yourself home improvers.

How Did They Make Money?

Customers buy the company’s tools and accessories, and sales are counted when products are delivered; customer payment terms are less than one year.

FY2023 revenue

Who Were Their Customers?

Home-improvement and construction retailers sell ToughBuilt products to do-it-yourself buyers and professionals; ToughBuilt also markets directly to construction companies, trade and wholesale outlets, and professional outlets.

Customers above 10% of revenue, FY2023

of revenue from two customers (57%, 16%)

FY2022: 67% from two customers

Did Revenues Turn Into Profits?

No. It lost $46.4M in FY2023.

Operating income, FY2023

−75% of revenue

▲ +9% (Loss) vs FY2022 (−$52.3M, −55%)

Net income, FY2023

−61% of revenue

▲ +18% (Loss) vs FY2022 (−$39.3M, −41%)

Free cash flow, FY2023

−10% of revenue

▼ −82% (Loss) vs FY2022 (−$42.4M, −45%)

How Were They Changing?

Since the FY2023 annual report

Apr 29, 2025 Management gained control after shares were issued for compensation Management held over 66% of the company's common stock after the shares were issued.

Broader product range The latest report describes a wider tools range, adding utility knives, shears, and digital measuring tools and levels to the earlier focus on tool storage, kneepads, and job-site supports.

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