Company: FOXX
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014221
Chunk: 206

Company: Foxx Development Holdings Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 2
Chunk 206
---
 cost of goods sold is a direct result of an increase in our revenue, consistent with the acquisition of our two new wholesale
customers and new product line as discussed above for the three months ended December 31, 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 

    December 31,  2024  
    December 31,  2023 

    (Unaudited)  
    (Unaudited) 
  
    Tablet products 
    $132,899  
    $482,608 
  
    Mobile phone products 
     13,623,422  
     250,636 
  
    Wearable products 
     1,533,244  
     - 
  
    Total cost of goods sold 
    $15,289,565  
    $733,244 

35

Our cost of goods sold for
tables decreased by approximately $0.4 million, or 72.5%, to approximately $0.1 million for the three months ended December 31, 2024 from
$0.5 million for the same period in 2023. Cost of goods sold for mobile phone products increased by approximately $13.4 million,
or 5,335.5%, to approximately $13.6 million for the three months ended December 31, 2024 from $0.3 million for the same period in
2023, which is consistent with the direct result of an increase in our revenue. Cost of goods sold for wearable products increased by
approximately $1.5 million, or 100.0%, to approximately $1.5 million for the three months ended December 31, 2024 from $0 for
the same period in 2023.

Gross Profit

Our gross profit increased
by approximately $2.1 million, or 2,099.8%, to approximately $2.2 million for the three months ended December 31, 2024, from
$0.1 million for the three months ended December 31, 2023.

Our gross profit from their
major revenue categories is summarized as follows:

    For the Three Months Ended December 31, 

    2024  
    2023  
    Change  
    Change (%) 

    (Unaudited)