Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 1109

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 6
Chunk 1109
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invest significant resources in outsourcing partnerships and dedicates efforts to research and develop new products, solutions, agent
platforms, and related services. This commitment is essential to uphold our competitiveness in the industry, especially in the realm
of IoT services. Advancing technology and enhancing capabilities are pivotal for enterprise growth, necessitating continual progress
in electronic product technologies, novel services, and expanded capabilities.

To
maintain and expand our customer base, we must sustain a culture of innovation that aligns with the industry’s evolution. This
entails continuously introducing cutting-edge technologies to the market. Our current focus in research and development revolves around
bolstering comprehensive communication, storage, and energy solutions, as well as advancing 5G technology. This includes areas such as
baseband development, Radio Frequency (RF) layout optimization, Session Initiation Protocol (SIP) integration, and rigorous system testing.

Our
ability to expand our products and services and diversifying customer base

Currently,
our main revenue stream originates from the sale of tablets and mobile phones. As brand recognition and acceptance grow, we anticipate
a surge in user adoption of our wireless services and intelligence products. Our capacity to broaden our products portfolio, offer new
services and attract a more diversified customer base could significantly influence our future operating results.

Results
of Operations

Comparison
for the years ended June 30, 2025 and 2024

     For
    the Years Ended June 30,   

    2025  
    2024  
    Change
    
    ($)  
    Change
    (%) 

    Revenues, net 
    $65,919,166  
    $3,228,559  
    $62,690,607  
     1,941.8%
  
    Cost
    of goods sold 
     61,144,561  
     3,112,616  
     58,031,945  
     1,864.4%
  
    Gross profit 
     4,774,605  
     115,943  
     4,658,662  
     4,018.1%
  
    Operating expenses 

    Selling
    expense 
     5,183,464  
     1,076,761  
     4,106,703  
     381.4%
  
    General,
    and administrative expense 
     7,068,426