Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 3

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 3
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1,042,198) 
     (52,869) 
     (1,451,193) 
     (92,205)
  
    Other income (expense), net 
     1,861  
     (4,560) 
     1,861  
     (445)
  
    Change in fair value of earnout liabilities 
     4,705,583  
     -  
     4,655,722  
     - 
  
    Total Other Income (Expense), net 
     3,665,246  
     (57,429) 
     3,206,390  
     (92,650)

    INCOME (LOSS) BEFORE INCOME TAXES 
     1,424,146  
     (640,610) 
     (842,643) 
     (1,187,441)

    PROVISION FOR INCOME TAXES 
     -  
     -  
     -  
     - 

    NET INCOME (LOSS) 
    $1,424,146  
    $(640,610) 
    $(842,643) 
    $(1,187,441)

    WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES* 

    Basic 
     7,280,366  
     3,303,333  
     5,389,365  
     3,303,333 
  
    Diluted 
     7,280,366  
     3,303,333  
     5,389,365  
     3,303,333 

    INCOME (LOSS) PER SHARE 

    Basic 
    $0.20  
    $(0.19) 
    $(0.16) 
    $(0.36)
  
    Diluted 
    $0.20  
    $(0.19) 
    $(0.16) 
    $(0.36)

*Giving retroactive effect to reverse recapitalization effected
on September 26, 2024 to reflect exchange ratio of approximately 3.3033 as described in Note 4.

The accompanying notes are an integral part of these unaudited
condensed consolidated financial statements.

2

FOXX DEVELOPMENT HOLDINGS INC.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGE IN SHAREHOLDERS’ EQU