Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 2013

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 8
Chunk 2013
---
,
    2024

    Inputs
     
    Input
    Method

    Input
    Value

    Simulated forecast of base monthly
    revenue
     
    Unobservable

    $
    7.4 million

    Industry revenue growth
     
    Unobservable

    1.7
    %
  
    Revenue volatility
     
    Unobservable

    30.5
    %
  
    Stock volatility
     
    Unobservable

    103.2
    %
  
    Stock price
     
    Observable

    $
    11.20

    Risk-free rate
     
    Observable

    4.16
    %
  
    Term
     
    Observable

    0.76 Years

    June
    30, 
2025

    Inputs
     
    Input
    Method

    Input
    Value

    Actual revenue
     
    Unobservable

    $
    5.5 million

    Term
     
    Observable

    0.00 Years

F-28

The
following table summarizes the activity for the Company’s Level 3 instruments measured at fair value on a recurring basis:

    Earnout
    Liabilities 
  
    Balance as of June 30, 2024 
    $    - 
  
    Issuances – September 26,
    2024 
    5,688,007 
  
    Change
    in fair value 
    (5,688,007)
  
    Balance as of June 30, 2025 
    $- 

Note 18
— Concentrations of risks

(a) Major
customers

For
the year ended June 30, 2025, three customers, customer A, customer B and customer C, which are the third parties of the Company, accounted
for 27%, 25% and 25%, respectively, of the Company’s total revenues.

For
the year ended June 30, 2024, three customers, customer D, customer A and customer E, which are the third parties of the Company, accounted
for 41%, 29% and 16% of the Company’s total revenues.

(b) Major
suppliers

For
the year ended June 30, 2025, one supplier, supplier A, which is a third party of the Company, accounted for 93% of the Company’s
total purchases.