Company: FOXX
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001213900-25-112192
Chunk: 145

Company: Foxx Development Holdings Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 8
Chunk 145
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 (2,266,789) 
     (605,178) 
     26.7%

Revenues

Our revenue is primarily
derived from sales of electronic products. The total revenues decreased by approximately $2.9 million, or 12.5%, to approximately
$20.2 million for the three months ended September 30, 2025 as compared to $23.1 million for the three months ended September 30,
2024. The decrease of the total revenue was mainly attributable to the decrease in mobile phone products revenues, which accounted for
87% of our sales.

Our revenues from our revenue
categories are summarized as follows:

    For the Three Months Ended 

    September 30,  2025  
    September 30,  2024 

    (Unaudited)  
    (Unaudited) 
  
    Tablet products 
    $50,471  
    $4,755 
  
    Mobile phone products 
     17,644,061  
     22,877,099 
  
    Wearable products and others 
     2,101,084  
     - 
  
    Subtotal product revenues 
     19,815,616  
     22,881,854 
  
    App service commission revenue 
     405,766  
     230,198 
  
    Other services 
     1,919  
     - 
  
    Subtotal service revenues 
     407,685  
     230,198 
  
    Total revenues, net 
    $20,233,301  
    $23,112,052 

Tablet product sales were
insignificant in our operations for the three months ended September 30, 2025. Revenue from the sales of tablets increased by approximately
$46,000, or 961.4%, to approximately $51,000 for the three months ended September 30, 2025 from $5,000 for the same period in 2024. Revenue
from sales of phones decreased by approximately $5.2 million, or 22.8%, to approximately $17.7 million for the three months ended
September 30, 2025 from $22.9 million for the same period in 2024 as the consumers’ spending power was weakened and the mobile phone replacement rate was lowered. Previously, consumers tended to replace
their phones every six