Foxx Development Holdings Inc.
4.4600-0.03 (-0.67%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · FOXX · USD
Key Stats
Market Cap
30.24MP/E (TTM)
-Basic EPS (TTM)
-1.47Dividend Yield
0%Recent Filings
10-K
FY2025 results
Foxx Development Holdings surged to $65.9M in revenue for FY2025 ended June 30, up 1,941.8% y/y, driven by mobile phones at $59.7M (91% of total) from three new wholesale customers, while tablets dipped to $0.5M; Q4 momentum accelerated with wearable launches and app services adding $2.2M in high-margin commissions, boosting overall gross margins to 7.2% from 3.6%. Yet operating losses widened to $9.7M amid $14.5M expenses, including $2.1M R&D for IoT expansions, offset by $5.7M gain from forfeited earnouts. Cash hit $1.9M post $7.9M financing, but $12.7M inventory buildup signals aggressive scaling. No annual guidance disclosed. Supply chain disruptions could stall quarterly growth.
8-K
Foxx launches smart leak detector
Foxx Development Holdings Inc. launched the APEC Smart Water Leak Detector on August 4, 2025, via its partnership with APEC Water Systems, blending IoT connectivity and app integration with water filtration expertise. This move extends Foxx's reach into home protection markets, accelerating innovation through shared strengths. The product hits shelves immediately on APEC's site, Amazon, and bundled with reverse osmosis systems. Yet partnerships like this expose Foxx to partner-specific risks.
8-K
Foxx joins Russell Microcap Index
Foxx Development Holdings Inc. announced on June 6, 2025, its inclusion in the Russell Microcap Index, effective after market close on June 27, following FTSE Russell's preliminary 2025 reconstitution. This milestone validates the company's growth in consumer electronics and IoT solutions, boosting visibility to institutional investors. Inclusion should enhance liquidity through automatic purchases by index funds and ETFs. Yet risks from market uncertainties persist.
10-Q
Q3 FY2025 results
Foxx Development Holdings posted Q3 FY2025 revenue of $11.4M, up sharply from $0.5M a year ago, driven by new wholesale customers and wearable product launches, while mobile phones contributed $8.9M. Gross profit swung to $0.7M from a $40K loss, with margins improving to 5.8% thanks to higher unit prices and lower costs, yet operating loss widened to $3.6M amid $4.2M expenses fueled by sales hires and R&D. Net loss hit $4.1M, or $0.58 per diluted share on 7.1M shares, versus $0.9M last year; the gap from operating loss stems mainly from $1.6M interest expense. Cash climbed to $3.8M post reverse recapitalization, with free cash flow negative at $4.7M (derived) and long-term debt at $100K; no non-GAAP metrics disclosed. The September 2024 business combination closed with $19.7M net proceeds (cash and stock), converting $15M notes and recognizing no goodwill. Revenue relies heavily on three U.S. customers over 10%. Tariffs on PRC imports pose a key risk to margins.
8-K
Auditor switch amid control weaknesses
Foxx Development Holdings Inc. switched auditors on May 1, 2025, after Marcum LLP resigned due to its acquisition by CBIZ CPAs P.C., which the Audit Committee promptly appointed as the new firm for the fiscal year ending June 30, 2025. No disagreements arose with Marcum, but prior audits flagged going concern doubts and material weaknesses in internal controls, including segregation of duties and GAAP compliance. This shift ensures continuity amid inherited control issues from the recent merger.
FEBO
Fenbo Holdings Limited
0.76-0.02
FOX
Fox Corporation
54.35-0.18
FOXO
FOXO Technologies Inc.
0.00-0.00
FXCND
FIH Mobile Ltd
21.50+0.00
ITOX
IIOT-OXYS, Inc.
0.00-0.00
RLX
RLX Technology Inc.
2.39-0.03
SNX
TD SYNNEX Corporation
155.67-0.25
VIOT
Viomi Technology Co., Ltd
3.08+0.25
WLDS
Wearable Devices Ltd.
2.67-0.29
WTO
UTime Limited
0.05-0.01