Company: FOXX
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112192
Chunk: 45

Company: Foxx Development Holdings Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 45
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 (Unaudited)  
    (Unaudited) 
  
    Net loss – basic and diluted EPS 
    $(2,865,442) 
    $(2,266,789)

    Basic and diluted weighted average shares outstanding* 
     6,780,597  
     3,477,696 

    Basic and diluted loss per share 
    $(0.42) 
    $(0.65)

  * There were no shares that have a dilutive effect for the three months ended September 30, 2025 and 2024. 

The following table outlines
dilutive common share equivalents outstanding, which are excluded in the above diluted net loss per share calculation, as the effect of
their inclusion would be anti-dilutive or the share equivalents were contingently issuable as of each period presented:

    For the Three Months Ended  September 30, 

    2025  
    2024 

    (Unaudited)  
    (Unaudited) 
  
    Earnout Shares* 
     -  
     2,100,000 
  
    Warrants ** 
     12,145,917  
     12,156,423 
  
    RSUs** 
     684,355  
     - 
  
    Total 
     12,830,272  
     14,256,423 

  * As described in Note 4 - Reverse recapitalization, the Earnout Shares that are contingently issuable in connection with the Business Combination are subject to vesting based on the Company’s financial performance during the earnout period. The Earnout Shares are excluded from the calculation of basic and diluted weighted-average number of common shares outstanding until vested. 

  ** The Company’s outstanding warrants and RSUs were excluded from the computation of diluted EPS because it has anti-dilutive effect as the company had a net loss during the periods presented. 

Note 22 — Segment information

The Company conducts business
as a single operating segment which is based upon the Company’s organizational and management structure, as well as information
used by the Company’s CODM to allocate resources and other factors. The accounting policies of the segment are the same as those
described in Note 3.

28

The key measure of segment
profitability that the CODM uses to allocate resources and assess performance is consolidated net loss, as reported in the consolidated
statements of operations.