Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 977

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 5
Chunk 977
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ieve the key factors affecting our financial condition and results of operations include the following:

Retention of key management team members

One
of the key differentiating factors of us is the rich blended nature of our management team. Our management team comprises executives
with extensive experience in electronics industry with IoT services related experiences. The wide array of industry experience captured
by our management team allows us to deliver advanced technology and superior products to our customers. Losing any member of our key
executive team could significantly impact the quality of services and products that we currently offer. Such departures may prompt customers
to explore alternative products or IoT cloud platforms offered by different vendors or service providers.

Investment
in technology and talent

We
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%