Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 152

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 152
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     2,099.8%
  
    Operating expenses 

    Selling expense 
     1,575,744  
     136,307  
     1,439,437  
     1,056.0%
  
    General, and administrative expense 
     1,937,731  
     546,457  
     1,391,274  
     254.6%
  
    Research and development – related party 
     45,584  
     -  
     45,584  
     100.0%
  
    Research and development 
     671,753  
     -  
     671,753  
     100.0%
  
    Stock-based compensation expenses 
     200,954  
     -  
     200,954  
     100%
  
    Loss from operations 
     (2,241,100) 
     (583,181) 
     (1,657,919) 
     284.3%
  
    Other income (expense), net 
     3,665,246  
     (57,429) 
     3,722,675  
     (6,482.2)%
  
    Provision for income tax 
     -  
     -  
     -  
     0.0%
  
    Net income (loss) 
    $1,424,146  
    $(640,610) 
    $2,064,756  
     (322.3)%

34

Revenues

Our revenue primarily derived
from sales of electronic products. The total revenues increased by approximately $16.6 million, or 1,998.9%, to approximately $17.5 million
for the three months ended December 31, 2024 as compared to $0.8 million for the three months ended December 31, 2023. The increase of
the total revenue was mainly attributable to the sales from three new wholesale customers who aggregately accounted for 94% of our sales
and to launching a new line of products, which is the wearable electronic products.

Our revenues from our revenue
categories are summarized as follows:

    For the Three Months Ended 

    December 31,  2024  
    December 31,  2023 

    (