Foxx Development Holdings Inc. is a public company that reported net revenues of $52,584,432 and a net loss of $52,689,938 for fiscal 2026, and shows significant operating lease liabilities and an accumulated deficit on its balance sheet.

# Company Name

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- PART I Item Business
- 1. Item Risk Factors
- 1A. Item Unresolved Staff Comments
- 1B. Item Cybersecurity
- 1C. Item Properties
- 2. Item Legal Proceedings
- 3. Item Mine Safety Disclosures
- 4. (incomplete)

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- Geographic reach
- Major business segments or lines
- Competitive advantages or differentiators

Foxx Development Holdings Inc. specializes in manufacturing and distributing affordable consumer electronics, particularly focusing on tablets and smartphones, while also venturing into IoT and health-tech products.

# Company Overview: Foxx Development Holdings Inc.

## Business Model and Operations
Foxx Development Holdings Inc., incorporated in Delaware, operates in the technology innovation sector within communications, specializing in the manufacturing and distribution of consumer electronics such as tablets, smartphones, and wearables. The company offers customization and after-sales support services, aligning its business practices with market demands.

- **Founded:** 2017
- **Headquarters:** 13575 Barranca Parkway C106, Irvine, CA

## Product Offerings
Foxx provides a diverse range of Foxx-branded products, primarily targeting budget-conscious consumers through its key offerings in the following categories:

1. **Tablets:**
   - **Product Example:** C10 LTE tablet features a 10.1-inch HD display, MT8766 2.0GHz processor, 4GB of RAM, and 64GB storage.
   - **Sales Performance:** In the fiscal year ended June 30, 2024, Foxx sold approximately 12,000 tablets, compared to 491,000 tablets in the previous fiscal year.

2. **Smartphones:**
   - **Product Line:** MIRO product launched in May 2019, featuring a 5.45-inch HD display, 8MP rear camera, and Google Voice Assistant.
   - **Sales Performance:** Approximately 80,000 smartphones were sold in the fiscal year ended June 30, 2024, slightly up from 76,000 in the previous year.

3. **Wearables:**
   - The company is developing a range of wearable devices, including smartwatches aimed at U.S. Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MVNOs).

4. **Internet of Things (IoT) Devices:**
   - Foxx plans to expand into the IoT market with a dedicated cloud platform and various IoT products, integrating features for enhanced connectivity and intelligence.

5. **Health and Wellness Products:**
   - Foxx is developing personal health devices, including thermometers and blood pressure monitors, aimed at promoting individual wellness.

## Financial Performance
- **Revenue:**
  - For the fiscal year ended June 30, 2024, Foxx generated approximately **$3.2 million** in revenue (from the sale of tablets and smartphones).
  - Total revenue for the fiscal year ended June 30, 2023, reached approximately **$21.62 million**.

- **Employees:** 
  - The company employs **25 full-time employees** across various departments, including sales and marketing, information technology, product research and testing, and finance.

## Customers and Market Reach
- Foxx caters mainly to **third-party distributors and sales agents** who market the products through established connections with major U.S. telecommunications carriers such as **T-Mobile, AT&T, and Verizon**. 
- Key customers include a limited number of distributors; for example, three customers accounted for 41%, 29%, and 16% of the Company’s revenue for the fiscal year ended June 30, 2024.
  
## Competitive Position
Foxx distinguishes itself in the competitive electronics market by focusing on affordability without compromising quality. The company's operational strategies prioritize geographical market presence, a build-to-order business model, and strong supplier relationships to meet consumer demands efficiently.

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Foxx Development Holdings Inc. is positioned for growth by not only expanding its product lines into emerging tech areas like IoT and health, but also by leveraging its existing sales channels and customer-centric approach. The company’s strategic plans aim to enhance its market influence and diversify its revenue streams for future sustainability and profitability.

Foxx Development Holdings Inc.

10-K / September 28, 2026

10-K / October 24, 2024

10-K / September 28, 2026

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