Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 161

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 161
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5  
    2024  
    2025  
    2024 

    (Unaudited)  
    (Unaudited)  
    (Unaudited)  
    (Unaudited) 
  
    Earnout Shares* 
     2,100,000  
     -  
     2,100,000  
     - 
  
    Warrants ** 
     12,145,917  
     -  
     12,145,917  
     - 
  
    RSUs** 
     727,009  
     -  
     727,009  
     - 
  
    Common stock underlying from the convertible notes ** 
     -  
     568,497  
     -  
     568,497 
  
    Total 
     14,972,926  
     568,497  
     14,972,926  
     568,497 

  * As described in Note 4 - Reverse recapitalization, the Earnout Shares that are contingently issuable in connection with the Business Combination are subject to vesting based on the Company’s financial performance during the earnout period. The Earnout Shares are excluded from the calculation of basic and diluted weighted-average number of common shares outstanding until vested. 

  ** The Company’s outstanding warrants, RSUs, and common stock that is potentially convertible from the convertible notes were excluded from the computation of diluted EPS because it has anti-dilutive effect as the company had a net loss during the periods presented. 

29

Note 24 — Segment information

The Company conducts business
as a single operating segment which is based upon the Company’s organizational and management structure, as well as information
used by the Company’s CODM to allocate resources and other factors. The accounting policies of the segment are the same as those
described in Note 3.

The key measure of segment
profitability that the CODM uses to allocate resources and assess performance is consolidated net loss, as reported on the unaudited condensed
consolidated statements of operations. The following table presents the significant revenue and expense categories of the Company’s
single operating segment: 

    For The Three Months Ended  
    For The Nine Months Ended 

    March 31,  
    March 31,  
    March 31,  
    March