Company: FOXX
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006111
Chunk: 84

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 84
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 million for the year ended June 30, 2024 from approximately $1.0 million for the year ended June 30, 2023. Our operating expenses are summarized as follows:

| Operating expenses                       |     | For the Years ended June 30, 
 2024                         |           |     | 2023 |           |     | Change 
 ($)    |           |   |     | Change 
    (%) |    |
|:-----------------------------------------|:----|:-----------------------------|----------:|:----|:-----|----------:|:----|:-------|----------:|:--|:----|-------:|:---|
| Selling expenses                         |     | $                            | 1,076,761 |     | $    |   262,767 |     | $      |   813,994 |   |     |  309.8 | %  |
| General and administrative expense       |     |                              | 2,076,484 |     |      |   487,706 |     |        | 1,588,778 |   |     |  325.8 | %  |
| Research and development – related party |     |                              |    91,168 |     |      |   272,080 |     |        |  (180,912 | ) |     |  (66.5 | )% |
| Total operating expense                  |     | $                            | 3,244,413 |     | $    | 1,022,553 |     | $      | 2,221,860 |   |     |  217.3 | %  |

49

The increase in operating expense was mainly attributed to the following: Selling Expenses Selling expenses increased, approximately $0.8 million, or 309.8%, to approximately $1.1 million for the year ended June 30, 2024, from approximately $0.3 million for the year ended June 30, 2023. The increased selling expenses was mainly attributable to approximately $0.3 million increase in consulting fees, as the Company engaged additional sales consultant to enhance our sales efforts, approximately $0.2 million increase in payroll and payroll related expense as we recruited and hired a vice president of sales to our team during the year ended June 30, 2024, approximately $0.1 million increase in advertising and marketing expense, and approximately $0.2 million increase in sampling, testing and