Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 237

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 237
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124  
     1,271,163  
     230.2%
  
    Research and development – related party 
     22,792  
     45,584  
     (22,792) 
     (50.0)%
  
    Research and development 
     826,532  
     -  
     826,532  
     100.0%
  
    Loss from operations 
     (3,560,667) 
     (792,609) 
     (2,768,058) 
     349.2%
  
    Other expense, net 
     (523,844) 
     (74,133) 
     (449,711) 
     606.6%
  
    Provision for income tax 
     -  
     19,828  
     (19,828) 
     (100.0)%
  
    Net loss 
     (4,084,511) 
     (886,570) 
     (3,197,941) 
     360.7%
  
    Foreign currency translation adjustment 
     (412) 
     -  
     (412) 
     100.0%
  
    Comprehensive loss 
    $(4,084,923) 
    $(886,570) 
    $(3,198,353) 
     360.8%

36

Revenues

Our revenue primarily derived
from sales of electronic products. The total revenues increased by approximately $10.9 million, or 2,117.1%, to approximately $11.4 million
for the three months ended March 31, 2025 as compared to $0.5 million for the three months ended March 31, 2024. The increase of the total
revenue was mainly attributable to the sales from three new major wholesale customers who aggregately accounted for 65% of our sales and
to launching a new line of products, which is the wearable electronic products, and new service.

Our revenues from our revenue
categories are summarized as follows:

    For the Three Months Ended 

    March 31,  2025  
    March 31,  2024 

    (Unaudited)  
    (Unaudited) 
  
    Tablet products 
    $219,545  
    $     -