Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 214

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 2
Chunk 214
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4 as compared to $0.8 million for the six months ended December 31, 2023.
The increase in cost of goods sold is a direct result of an increase in our revenue, consistent with the acquisition of our three new
wholesale customers as discussed above for the six months ended December 31, 2024 as compared to the same period in 2023.

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

    For the Six Months Ended 

    December 31,  2024  
    December 31,  2023 

    (Unaudited)  
    (Unaudited) 
  
    Tablet products 
    $137,569  
    $482,608 
  
    Mobile phone products 
     36,332,628  
     250,636 
  
    Wearable products 
     1,533,244  
     - 
  
    Total cost of goods sold 
    $38,003,441  
    $733,244 

Our cost of goods sold for
tables decreased by approximately $0.4 million, or 71.5%, to approximately $0.1 million for the six months ended December 31, 2024 from
$0.5 million for the same period in 2023. Cost of goods sold for mobile phone products increased by approximately $36.1 million,
or 14,396.2%, to approximately $36.3 million for the six months ended December 31, 2024 from $0.3 million for the same period in
2023, which is consistent with the direct result of an increase in our revenue. Cost of goods sold for wearable products increased by
approximately $1.5 million, or 100.0%, to approximately $1.5 million for the six months ended December 31, 2024 from $0 for
the same period in 2023.

Gross Profit

Our gross profit increased
by approximately $2.5 million, or 2,499.7%, to approximately $2.6 million for the six months ended December 31, 2024, from $0.1
million for the six months ended December 31, 2023.

Our gross profit from their
major revenue categories is summarized as follows:

    For the Six Months Ended December 31, 

    2024  
    202