Company: FOXX
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112192
Chunk: 124

Company: Foxx Development Holdings Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 124
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 total revenues.

For the three months ended
September 30, 2024, two customers, customer A and customer B, which are the third parties of the Company, accounted for 49% and 39%,
respectively, of the Company’s total revenues.

(b) Major suppliers

For the three months ended
September 30, 2025, one supplier, supplier A, which is a third party of the Company, accounted for 95% of the Company’s total purchases. 

For the three months ended
September 30, 2024, one supplier, which is a third party of the Company, accounted for 98% of the Company’s total purchases.

(c) Geographic areas

For the three months ended
September 30, 2025 and 2024, all of the Company’s long-lived assets are located in the United States and all of the Company’s
revenues are derived solely from the United States, accordingly, no geographical information is presented.

Note 17 — Leases

Short-term leases  

On August 1, 2023, the
Company entered a twelve-month lease agreement to rent a general office and storage space for its purchased inventory for a monthly rental
fee of $100. The Company renewed the lease for another twelve months at a monthly rental fee of $200.

On August 14, 2023,
the Company entered a six-month lease agreement to rent an office for operating purposes with a monthly rental fee of $550. After the
initial six-month term, the lease was renewed on a month-to-month basis.

Long-term leases  

In September 2023, the
Company signed a three-year lease agreement to rent a general office and storage space for business operations with a monthly rent of $3,096,
plus varied monthly CAM. The commencement date of this lease is October 1, 2023 and has no renewal option. On July 17, 2024,
the Company extended the lease for another 35 months to be commenced on October 1, 2026 and ended August 31, 2029. The Company considered
this lease as an operating lease and recognized right-of-use asset and lease liability. The Company recognized lease expense on a straight-line
basis over the lease term for operating lease.

In June 2024, the Company signed a six year and 11.5 months lease agreement
to rent a general office for business operations with a monthly rent of $