Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 847

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 4
Chunk 847
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new for the year ended June 30, 2025, increased by approximately $3.4 million, or 100.0%, to approximately $3.4 million for the
year ended June 30, 2025 from $0 for year ended June 30, 2024, as we rolled out some new wearable products beginning in October 2024.
Revenue from App service commission increased by approximately $2.2 million, or 100.0%, to approximately $2.2
million for the year ended June 30, 2025 from $0 for the year ended June 30, 2024, as we started to generate income by providing
installation of App service to our partners on our mobile devices and procure the distribution of these devices to the end users
beginning in July 2024. Revenue from other services increased by approximately $0.1 million,
or 100.0%, to approximately $0.1 million for the year ended June 30, 2025 from $0 for the year ended June 30, 2024, as we started to generate
income by providing other logistic and warehouse management services in April 2025.

Cost
of Goods Sold

Our
cost of goods sold mainly consisted of cost of merchandise and freight. Total cost of goods sold increased by approximately
$58.0 million, or 1,864.4%, to approximately $61.1 million for the year ended June 30, 2025 as compared to $3.1 million
for the year ended June 30, 2024. The increase in cost of goods sold is a direct result of an increase in our revenue, which is
consistent with the acquisition of our three new major wholesale customers and new product line as discussed above for the year
ended June 30, 2025.

Our
cost of goods sold from their revenue categories are summarized as follows:

    For
    the Years Ended 

    June
    30,  2025  
    June
    30,  2024 

    Tablet products 
    $437,903  
    $505,832 
  
    Mobile phone products 
     57,618,133  
     2,606,784 
  
    Wearable products 
     3,040,588  
     - 
  
    Other
    services cost 
     47,937  
     -