Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 1244

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 7
Chunk 1244
---
 other services increased by approximately $0.1 million,
or 100.0%, to approximately $0.1 million for the year ended June 30, 2025 from $0 for the year ended June 30, 2024, as we started to generate
income by providing other logistic and warehouse management services in April 2025.

Cost
of Goods Sold

Our
cost of goods sold mainly consisted of cost of merchandise and freight. Total cost of goods sold increased by approximately
$58.0 million, or 1,864.4%, to approximately $61.1 million for the year ended June 30, 2025 as compared to $3.1 million
for the year ended June 30, 2024. The increase in cost of goods sold is a direct result of an increase in our revenue, which is
consistent with the acquisition of our three new major wholesale customers and new product line as discussed above for the year
ended June 30, 2025.

Our
cost of goods sold from their revenue categories are summarized as follows:

    For
    the Years Ended 

    June
    30,  2025  
    June
    30,  2024 

    Tablet products 
    $437,903  
    $505,832 
  
    Mobile phone products 
     57,618,133  
     2,606,784 
  
    Wearable products 
     3,040,588  
     - 
  
    Other
    services cost 
     47,937  
     - 
  
    Total
    cost of goods sold 
    $61,144,561  
    $3,112,616 

Our
cost of goods sold for tablets decreased by approximately $0.1 million, or 13.4%, to approximately $0.4 million for the year ended June
30, 2025 from $0.5 for the same period in 2024. Cost of goods sold for mobile phone products increased by approximately $55.0 million,
or 2,110.3%, to approximately $57.6 million for the year ended June 30, 2025 from $2.6 million for the same period in 2024, which
is consistent with the direct result of an increase in revenue from sales of mobile phone products. Cost of goods sold for wearable products and others increased by