Fox Factory Holding Corp. Files Q2 2024 10-Q

TL;DR

**FOXF Q2 2024 10-Q FILED: Check financials for latest performance.**

AI Summary

Fox Factory Holding Corp. reported its Q2 2024 results for the period ending June 28, 2024. The company's financial statements indicate a fiscal year end of January 3rd. Key financial data and disclosures are presented in this 10-Q filing.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Fox Factory Holding Corp., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant performance changes or risks for investors.

Key Numbers

• 2024 Q2 — Quarterly Period (Reporting period for this 10-Q filing.)
• 0103 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• FOX FACTORY HOLDING CORP (company) — Filer
• 20240628 (date) — Conformed Period of Report
• 20240802 (date) — Filed as of Date
• 001-36040 (other) — SEC File Number

FAQ

Key Financial Figures

• $0.001 — ich Registered Common Stock, par value $0.001 per share FOXF The NASDAQ Stock Market

Filing Documents

• foxf-20240628.htm (10-Q) — 1325KB
• foxf2024-06x2810xqex101.htm (EX-10.1) — 87KB
• foxf2024-06x2810xqex311.htm (EX-31.1) — 11KB
• foxf2024-06x2810xqex312.htm (EX-31.2) — 11KB
• foxf2024-06x2810xqex321.htm (EX-32.1) — 6KB
• 0001424929-24-000109.txt ( ) — 7158KB
• foxf-20240628.xsd (EX-101.SCH) — 43KB
• foxf-20240628_cal.xml (EX-101.CAL) — 84KB
• foxf-20240628_def.xml (EX-101.DEF) — 232KB
• foxf-20240628_lab.xml (EX-101.LAB) — 587KB
• foxf-20240628_pre.xml (EX-101.PRE) — 434KB
• foxf-20240628_htm.xml (XML) — 1009KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements Unaudited Condensed Consolidated Balance Sheets as of June 28, 2024 and December 29, 2023 3 Unaudited Condensed Consolidated Statements of Income for the Three and Six Months Ended June 28, 2024 and June 30, 2023 4 Unaudited Condensed Consolidated Statements of Comprehensive (Loss) Income for the Three and Six Months Ended June 28, 2024 and June 30, 2023 5 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 28, 2024 and June 30, 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 28, 2024 and June 30, 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 38

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 3. Defaults Upon Senior Securities 40 Item 4. Mine Safety Disclosures 40 Item 5. Other Information 40 Item 6. Exhibits 41

Signatures

Signatures 42 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS FOX FACTORY HOLDING CORP. Condensed Consolidated Balance Sheets (in thousands, except per share data) (unaudited) As of As of June 28, 2024 December 29, 2023 Assets Current assets: Cash and cash equivalents $ 82,246 $ 83,642 Accounts receivable (net of allowances of $ 940 and $ 1,158 , respectively) 157,949 171,060 Inventory 380,408 371,841 Prepaids and other current assets 171,117 141,512 Total current assets 791,720 768,055 Property, plant and equipment, net 238,021 237,192 Lease right-of-use assets 97,791 84,317 Deferred tax assets 20,640 21,297 Goodwill 637,575 636,565 Trademarks and brands, net 267,798 273,293 Customer and distributor relationships, net 171,911 184,269 Core technologies, net 24,646 25,785 Other assets 15,519 11,525 Total assets $ 2,265,621 $ 2,242,298 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 143,975 $ 104,150 Accrued expenses 84,566 103,400 Current portion of long-term debt 24,286 14,286 Total current liabilities 252,827 221,836 Revolver 194,000 370,000 Term A Loan, less current portion 539,833 359,242 Other liabilities 82,578 69,459 Total liabilities 1,069,238 1,020,537 Commitments and contingencies (Refer to Note 8 - Commitments and Contingencies ) Stockholders' equity Preferred stock, $ 0.001 par value — 10,000 authorized and no shares issued or outstanding as of June 28, 2024 and December 29, 2023 — — Common stock, $ 0.001 par value — 90,000 authorized; 42,572 shares issued and 41,682 outstanding as of June 28, 2024; 42,844 shares issued and 41,954 outstanding as of December 29, 2023 42 42 Additional paid-in capital 335,834 348,346 Treasury stock, at cost; 890 common shares as of June 28, 2024 and December 29, 2023 ( 13,754 ) ( 13,754 ) Accumulated other comprehensive income 3,398 9,041 Retained earnings 870,863 878,086 Total stockholders' equity 1,196,383 1,221,761 Total liabilities and stockholders' equity $ 2,265,621 $ 2,2

View Full Filing

View this 10-Q filing on SEC EDGAR