$FOXF

FOX FACTORY HOLDING CORP

CIK:0001424929|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2026	Jul. 04, 2025	Jul. 03, 2026	Jul. 04, 2025
Income Statement [Abstract]
Net sales	$ 358,122	$ 374,864	$ 726,779	$ 729,894
Cost of sales	248,429	257,873	510,698	503,224
Gross profit	109,693	116,991	216,081	226,670
Operating expenses:
Goodwill impairment	0	0	0	262,129
Sales and marketing	29,408	31,216	62,710	64,063
Research and development	18,598	17,847	37,052	34,886
General and administrative	34,197	39,044	72,843	76,375
Amortization of purchased intangibles	9,983	10,356	20,018	21,276
Total operating expenses	92,186	98,463	192,623	458,729
Income (loss) from operations	17,507	18,528	23,458	(232,059)
Interest expense	11,875	14,388	23,813	27,322
Other (income) expense, net	(676)	(1,365)	8,969	(1,515)
Income (loss) before income taxes	6,308	5,505	(9,324)	(257,866)
Income Tax Expense (Benefit)	2,274	2,800	1,660	(837)
Net income (loss)	4,034	2,705	(10,984)	(257,029)
Less: net loss attributable to non-controlling interest	(19)	(39)	(41)	(79)
Net income (loss) attributable to FOX stockholders	$ 4,053	$ 2,744	$ (10,943)	$ (256,950)
Earnings (net loss) per share:
Basic (in dollars per share)	$ 0.10	$ 0.07	$ (0.26)	$ (6.15)
Diluted (in dollars per share)	$ 0.10	$ 0.07	$ (0.26)	$ (6.15)
Weighted-average shares used to compute earnings per share:
Basic (in shares)	42,005	41,788	41,933	41,749
Diluted (in shares)	42,275	41,866	41,933	41,749

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2026	Jul. 04, 2025
OPERATING ACTIVITIES:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (10,984)	$ (257,029)
Adjustments to reconcile net loss to net cash provided by operating activities:
Goodwill impairment	0	262,129
Depreciation and amortization	41,207	45,462
Provision for inventory reserve	2,138	3,313
Non-cash stock-based compensation	7,492	7,925
Amortization of acquired inventory step-up	0	342
Amortization of loan fees	1,289	2,704
Amortization of deferred gains on prior swap settlements	0	(783)
Loss on divestiture	10,612	0
Deferred taxes	(281)	(5,082)
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract]
Accounts receivable	(12,990)	(15,396)
Inventory	(17,400)	(2,131)
Income taxes	(1,648)	(3,996)
Prepaids and other assets	3,917	19,796
Accounts payable	(5,928)	(11,147)
Accrued expenses and other liabilities	(4,274)	(8,631)
Net cash provided by operating activities	13,150	37,476
INVESTING ACTIVITIES:
Purchases of property and equipment	(9,472)	(19,644)
Proceeds from sale of property and equipment	2,762	232
Proceeds from divestitures, net of cash divested, including collections of promissory note principal	7,369	0
Net cash provided by (used in) investing activities	659	(19,412)
FINANCING ACTIVITIES:
Proceeds from revolver	107,000	57,000
Payments on revolver	(94,000)	(53,000)
Repayment of term debt	(18,438)	(12,142)
Repurchases from stock compensation program, net	(1,648)	(1,259)
Deferred debt issuance/modification costs	(2,432)	0
Net cash used in financing activities	(9,518)	(9,401)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(1,023)	1,114
CHANGE IN CASH AND CASH EQUIVALENTS	3,268	9,777
CASH AND CASH EQUIVALENTS—Beginning of period	58,008	71,674
CASH AND CASH EQUIVALENTS—End of period	61,276	81,451
Interest and Income Taxes Paid [Abstract]
Income tax payment	3,668	8,257
Interest	22,670	25,380
Amounts included in the measurement of lease liabilities	9,181	10,453
Cash Flow, Noncash Operating Activities Disclosure [Abstract]
Right-of-use assets obtained in exchange for lease obligations	3,511	2,524
Note receivable from divestiture	22,575	0
Capital expenditures included in accounts payable	$ 703	$ 1,028

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2026	Jan. 02, 2026
Current assets:
Cash and cash equivalents	$ 61,276	$ 58,008
Accounts receivable (net of allowances of $3,265 and $2,881, respectively)	198,817	190,670
Inventory	382,897	388,635
Prepaids and other current assets	121,157	108,424
Total current assets	764,147	745,737
Property, plant and equipment, net	211,138	234,635
Lease right-of-use assets	82,722	99,002
Deferred tax assets	85,500	90,397
Goodwill	83,575	83,575
Other assets	32,499	18,985
Total assets	1,636,456	1,671,749
Current liabilities:
Accounts payable	134,886	141,378
Accrued expenses	84,350	92,095
Current portion of long-term debt	26,875	26,875
Total current liabilities	246,111	260,348
Revolver	163,000	150,000
Other liabilities	82,691	94,733
Long-term debt less current portion	477,827	496,663
Total liabilities	969,629	1,001,744
Commitments and contingencies (Refer to Note 8 - Commitments and Contingencies)
Non-controlling interest	(220)	(179)
Stockholders’ equity
Preferred stock, $0.001 par value — $10,000 authorized and no shares issued or outstanding as of July 3, 2026 and January 2, 2026	0	0
Common stock, $0.001 par value — 90,000 authorized; $42,921 shares issued and $42,031 outstanding as of July 3, 2026; $42,692 shares issued and $41,802 outstanding as of January 2, 2026	42	42
Additional paid-in capital	358,084	352,239
Treasury stock, at cost; $890 common shares as of July 3, 2026 and January 2, 2026	(13,754)	(13,754)
Accumulated other comprehensive income	2,793	832
Retained earnings	319,882	330,825
Total stockholders’ equity	667,047	670,184
Total liabilities and stockholders’ equity	1,636,456	1,671,749
Trademarks and brands, net
Current assets:
Trademarks and brands, net	231,931	241,820
Customer and distributor relationships, net
Current assets:
Trademarks and brands, net	126,529	137,648
Core technologies, net
Current assets:
Trademarks and brands, net	$ 18,415	$ 19,950