Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 78

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 78
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 from our revenue categories are summarized as follows:

|                       |     | For the Three Months Ended 
 September 30,              
 2024                       |            |     | September 30, 
 2023          |   |
|:----------------------|:----|:---------------------------|-----------:|:----|:--------------|:--|
|                       |     | -Unaudited                 |            |     | -Unaudited    |   |
| Tablet products       |     | $                          |      4,755 |     | $             | — |
| Mobile phone products |     |                            | 23,107,297 |     |               | — |
| Total revenues        |     | $                          | 23,112,052 |     | $             | — |

Tablet product sales were insignificant in our operations for the three months ended September 30, 2024. Revenue from the sales of tablets increased by approximately $5,000, or 100.0%, to approximately $5,000 for the three months ended September 30, 2024 from $0 for the same period in 2023. Revenue from sales of phones increased by approximately $23.1 million, or 100.0%, to approximately $23.1 million for the three months ended September 30, 2024 from $0 for the same period in 2023 as we rolled out some new phone products beginning in January 2024 and the sales from two new wholesale customers who aggregately accounted for 88% of our sales.

43

Cost of Goods Sold Our cost of goods sold mainly consists of cost of merchandise and freight. Total cost of goods sold increased by approximately $22.7 million, or 100.0%, to approximately $22.7 million for the three months ended September 30, 2024 as compared to $0 for the three months ended September 30, 2023. The increase in cost of goods sold is a direct result of an increase in our revenue, consistent with the acquisition of our two new wholesale customers as discussed above for the three months ended September 30, 2024 as compared to the same period in 2023. Our cost of goods sold from their revenue categories are summarized as follows:

|                          |     | For the Three Months Ended 
 September 30,              
 2024                       |            |     | September 30, 
 2023          |   |
|:-------------------------|:----|:---------------------------|