# FOX FACTORY HOLDING CORP (FOXF)

Informational only - not investment advice.

CIK: 0001424929
SIC: 3751 Motorcycles, Bicycles & Parts
SIC breadcrumb: [Manufacturing](/division/D/) > [Transportation Equipment](/major-group/37/) > [SIC 3751 Motorcycles, Bicycles & Parts](/industry/3751/)
Latest 10-K filed: 2026-02-27
SEC page: https://www.sec.gov/edgar/browse/?CIK=1424929
Filing source: https://www.sec.gov/Archives/edgar/data/1424929/000142492926000012/foxf-20260102.htm

## At a glance

FY2025 · period end 2026-01-02 · filed 2026-02-27 · accession 0001424929-26-000012 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001424929.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 1,467,321,000 USD | 2025 | verified |
| Net income | -544,579,000 USD | 2025 | verified |
| Assets | 1,671,749,000 USD | 2025 | verified |
| Free cash flow | 26,951,000 USD | 2025 | computed |
| Net margin | -37.11% | 2025 | computed |
| Operating margin | -35.64% | 2025 | computed |
| Revenue YoY | +5.27% | 2025 | computed |
| ROE | -81.26% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | FOXF | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | -37.1% | 3.7% | 5 | 65 |
| Operating margin | -35.6% | 7.3% | 7 | 57 |
| Revenue growth | 5.3% | 5.6% | 49 | 73 |
| FCF margin | 1.8% | 4.4% | 34 | 72 |
| ROE | -81.3% | 6.0% | 7 | 72 |
| ROA | -32.6% | 2.8% | 8 | 75 |
| Liabilities / equity | 1.49 | 1.45 | 52 | 72 |
| Current ratio | 2.86 | 2.20 | 64 | 71 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC major-group 37 Transportation Equipment, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 1467321000 | USD | 2025 | 2026-02-27 |
| Net income | -544579000 | USD | 2025 | 2026-02-27 |
| Assets | 1671749000 | USD | 2025 | 2026-02-27 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-27. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001424929.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue |  |  | 403,077,000 | 475,633,000 | 619,225,000 | 751,020,000 | 890,554,000 | 1,299,064,000 | 1,602,491,000 | 1,464,178,000 | 1,393,921,000 | 1,467,321,000 |
| Net income |  |  | 35,675,000 | 43,128,000 | 84,040,000 | 93,033,000 | 90,674,000 | 163,818,000 | 205,278,000 | 120,846,000 | 6,550,000 | -544,579,000 |
| Operating income |  |  | 45,541,000 | 67,041,000 | 94,532,000 | 112,809,000 | 114,149,000 | 196,914,000 | 246,697,000 | 160,091,000 | 57,670,000 | -522,933,000 |
| Gross profit |  |  | 126,388,000 | 154,490,000 | 205,496,000 | 242,735,000 | 289,547,000 | 432,332,000 | 531,343,000 | 464,812,000 | 423,576,000 | 443,247,000 |
| Diluted EPS |  |  | 0.94 | 1.11 | 2.16 | 2.38 | 2.22 | 3.87 | 4.84 | 2.85 | 0.16 | -13.03 |
| Operating cash flow |  |  | 38,845,000 | 48,172,000 | 65,392,000 | 74,830,000 | 82,499,000 | 63,184,000 | 187,094,000 | 178,743,000 | 131,832,000 | 60,918,000 |
| Capital expenditures |  |  | 12,024,000 | 16,864,000 | 30,203,000 | 53,526,000 | 56,744,000 | 54,846,000 | 43,701,000 | 46,852,000 | 44,040,000 | 33,967,000 |
| Share buybacks | 571,000 | 5,236,000 | 7,947,000 | 0.00 | 0.00 |  |  | 0.00 | 0.00 | 25,000,000 | 25,000,000 | 0.00 |
| Assets |  |  | 335,600,000 | 425,241,000 | 485,254,000 | 609,316,000 | 1,286,561,000 | 1,515,729,000 | 1,618,336,000 | 2,242,298,000 | 2,234,788,000 | 1,671,749,000 |
| Liabilities |  |  | 150,663,000 | 177,451,000 | 149,767,000 | 171,397,000 | 567,390,000 | 621,647,000 | 496,950,000 | 1,020,537,000 | 1,033,644,000 | 1,001,744,000 |
| Stockholders' equity |  |  |  |  |  |  |  | 894,082,000 | 1,121,386,000 | 1,221,761,000 | 1,201,182,000 | 670,184,000 |
| Cash and cash equivalents | 4,212,000 | 6,944,000 | 35,280,000 | 35,947,000 | 27,958,000 | 43,736,000 | 245,764,000 |  |  | 83,642,000 | 71,674,000 | 58,008,000 |
| Free cash flow |  |  | 26,821,000 | 31,308,000 | 35,189,000 | 21,304,000 | 25,755,000 | 8,338,000 | 143,393,000 | 131,891,000 | 87,792,000 | 26,951,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin |  |  | 8.85% | 9.07% | 13.57% | 12.39% | 10.18% | 12.61% | 12.81% | 8.25% | 0.47% | -37.11% |
| Operating margin |  |  | 11.30% | 14.10% | 15.27% | 15.02% | 12.82% | 15.16% | 15.39% | 10.93% | 4.14% | -35.64% |
| Return on equity |  |  |  |  |  |  |  | 18.32% | 18.31% | 9.89% | 0.55% | -81.26% |
| Return on assets |  |  | 10.63% | 10.14% | 17.32% | 15.27% | 7.05% | 10.81% | 12.68% | 5.39% | 0.29% | -32.58% |
| Liabilities / equity |  |  |  |  |  |  |  | 0.70 | 0.44 | 0.84 | 0.86 | 1.49 |
| Current ratio |  |  | 2.10 | 2.40 | 2.40 | 3.07 | 3.52 | 3.15 | 3.08 | 3.46 | 2.80 | 2.86 |

## As-reported value updates

2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/FOXF/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-07. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001424929.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | 1.20 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | 0.98 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  |  | 0.94 | reported discrete quarter |
| 2023-Q3 | 2023-09-29 | 331,117,000 | 35,293,000 | 0.83 | reported discrete quarter |
| 2023-Q4 | 2023-12-29 | 332,495,000 | 4,051,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-29 | 333,472,000 | -3,496,000 | -0.08 | reported discrete quarter |
| 2024-Q2 | 2024-06-28 | 348,491,000 | 5,407,000 | 0.13 | reported discrete quarter |
| 2024-Q3 | 2024-09-27 | 359,121,000 | 4,780,000 | 0.11 | reported discrete quarter |
| 2024-Q4 | 2025-01-03 | 352,837,000 | -179,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-04-04 | 355,030,000 | -259,734,000 | -6.23 | reported discrete quarter |
| 2025-Q2 | 2025-07-04 | 374,864,000 | 2,705,000 | 0.07 | reported discrete quarter |
| 2025-Q3 | 2025-10-03 | 376,355,000 | -662,000 | -0.02 | reported discrete quarter |
| 2025-Q4 | 2026-01-02 | 361,072,000 | -287,029,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-04-03 | 368,657,000 | -15,018,000 | -0.36 | reported discrete quarter |
| 2026-Q2 | 2026-07-03 | 358,122,000 | 4,034,000 | 0.10 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from FOXF's latest 10-K: [/company/FOXF/business/](/company/FOXF/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from FOXF's latest 10-K: [/company/FOXF/risk-factors/](/company/FOXF/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1424929/000142492926000049/foxf-20260703.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-08-07
Report date: 2026-07-03

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited condensed consolidated financial statements and related notes thereto included elsewhere in this Quarterly Report on Form 10-Q and with our audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the fiscal year ended January 2, 2026, as filed with the SEC on February 27, 2026, and our other reports and registration statements that we file with the SEC from time to time. In addition to historical condensed consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates, and beliefs. Our actual results could differ materially from those discussed below. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this Quarterly Report on Form 10-Q, particularly in the “Risk Factors” section included in Part II, Item 1A.

Unless the context otherwise requires, the terms “FOX,” the “Company,” “we,” “us,” and “our” in this Quarterly Report on Form 10-Q refer to Fox Factory Holding Corp. and its operating subsidiaries on a consolidated basis.

Cautionary Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q includes forward-looking statements, which are subject to the “safe harbor” created by Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We may make forward-looking statements in our SEC filings, press releases, news articles, earnings presentations and when we are speaking on behalf of the Company. Forward-looking statements generally relate to future events or our future financial or operating performance that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements because they contain words such as “may,” “might,” “will,” “would,” “should,” “expect,” “plan,” “anticipate,” “could,” “can,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “likely,” “potential”, “remain”, or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q are subject to numerous risks and uncertainties, including but not limited to risks related to:

•changes in general economic conditions, including, among others, market and macro-economic disruptions resulting from escalating tensions between China and Taiwan, the war in Iran, or similar events, due to inflation, higher interest rates, or tariffs, or due to the spread of infectious or contagious disease or public health issues;

•our dependency on a limited number of suppliers for materials, component parts, and product could lead to an increase in material costs, disruptions in our supply chain, or reputational costs;

•our ability to develop new and innovative products in our current end-markets;

•our ability to leverage our technologies and brand to expand into new categories and end-markets;

•our ability to increase our aftermarket penetration;

•our ability to accelerate international growth;

•our exposure to currency exchange rate fluctuations;

•the loss of key customers;

•our ability to accurately forecast demand for our products;

•our ability to improve operating and supply chain efficiencies;

•changes in commodity, freight, and tariff costs (including tariff relief or our ability to mitigate tariffs, particularly in light of the policies of the current presidential administration and retaliatory actions in response thereto);

•our ability to mitigate increasing input costs through pricing or other measures;

•economic conditions that impact consumer spending or consumer credit, including changes in inflation or interest rates;

•our ability to enforce our intellectual property rights;

•our future financial performance, including our net sales, cost of sales, gross profit or gross margins, operating expenses, ability to generate positive cash flow, ability to maintain our profitability, and ability to remain in compliance with financial covenants;

•our ability to maintain our premium brand image and high-performance products;

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•our ability to execute our cost optimization efforts and identify and capitalize on other strategic initiatives, including possible divestitures, sales, or related transactions involving one or more of our businesses or assets and any other actions we take related to our strategic review of our portfolio;

•our decision and ability to market and execute potential strategic transactions, which depend on, among other factors, third-party interest, valuation considerations and regulatory requirements;

•our ability to maintain relationships with the professional athletes and race teams we sponsor;

•our ability to selectively add additional dealers and distributors in certain geographic markets;

•the growth of the markets in which we compete, our expectations regarding consumer preferences, and our ability to respond to changes in consumer preferences and effectively compete against competitors;

•changes in demand for performance-defining products;

•the loss of key personnel, management, and skilled engineers;

•our ability to successfully identify, evaluate and manage potential or completed acquisitions and to benefit from such acquisitions;

•the outcome of pending litigation;

•future disruptions in the operations of our manufacturing facilities;

•our ability to adapt our business model to mitigate the impact of certain changes in tax laws, tariffs, international trade policies, and other regulatory matters;

•our ability to assess and monitor the effects of new technological applications, such as artificial intelligence, on our business and operations;

•our ability to protect against cybersecurity incidents and disruptions or failures of our information technology systems;

•changes in the relative proportion of profit earned in the numerous jurisdictions in which we do business and in tax legislation, case law and other authoritative guidance in those jurisdictions;

•product recalls and product liability claims; and

•future economic or market conditions.

You should not rely upon forward-looking statements as predictions of future events. We based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, and prospects and the outcomes of any of the events described in any forward-looking statements are subject to risks, uncertainties, and other factors. In addition to the risks, uncertainties, and other factors discussed above and elsewhere in this Quarterly Report on Form 10-Q, the risks, uncertainties, and other factors expressed or implied in Part I, Item 1A. “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended January 2, 2026, as filed with the SEC on February 27, 2026, could cause or contribute to actual results differing materially from those set forth in any forward-looking statement. Moreover, we operate in a very competitive and challenging environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. We cannot assure you that the results, events, and circumstances reflected in the forward-looking statements will be achieved or occur and you should not place undue reliance on our forward-looking statements. Actual results, events, or circumstances could differ materially from those contemplated by, set forth in, or underlying any forward-looking statements. For all of these forward-looking statements, we claim the protection of the safe harbor for forward-looking statements in Section 27A of the Securities Act and Section 21E of the Exchange Act.

The forward-looking statements made in this Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information, the occurrence of unanticipated events or otherwise, except as required by law. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures, or investments we may make or choose not to make.

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Critical Accounting Policies and Estimates

There have been no changes to the critical accounting policies and estimates described in our Annual Report on Form 10-K for the fiscal year ended January 2, 2026, as filed with the SEC on February 27, 2026, that had a material impact on our unaudited condensed consolidated financial statements and related notes.

Recent Accounting Pronouncements

See Note 1 - Description of the Business, Basis of Presentation, and Summary of Significant Accounting Policies to the accompanying notes to unaudited condensed consolidated financial statements included in this Quarterly Report on Form 10-Q for further details regarding this topic.

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Results of Operations

The table below summarizes our results of operations:

[[GREPCENT_TABLE]]
[["","For the three months ended","","For the six months ended"],["(in millions)","July 3, 2026","","July 4, 2025","","July 3, 2026","","July 4, 2025"],["Net sales","$","358.1","","","$","374.9","","","$","726.8","","","$","729.9"],["Cost of sales","248.4","","","257.9","","","510.7","","","503.2"],["Gross profit","109.7","","","117.0","","","216.1","","","226.7"],["Operating expenses:"],["Goodwill impairment","\u2014","","","\u2014","","","\u2014","","","262.1"],["General and administrative","34.2","","","39.0","","","72.8","","","76.4"],["Sales and marketing","29.4","","","31.2","","","62.7","","","64.1"],["Research and development","18.6","","","17.8","","","37.1","","","34.9"],["Amortization of purchased intangibles","10.0","","","10.4","","","20.0","","","21.3"],["Total operating expenses","92.2","","","98.5","","","192.6","","","458.7"],["Income (loss) from operations","17.5","","","18.5","","","23.5","","","(232.1)"],["Interest expense","11.9","","","14.4","","","23.8","","","27.3"],["Other (income) expense, net","(0.7)","","","(1.4)","","","9.0","","","(1.5)"],["Income (loss) before income taxes","6.3","","","5.5","","","(9.3)","","","(257.9)"],["Provision (benefit) for income taxes","2.3","","","2.8","","","1.7","","","(0.8)"],["Net income (loss)","$","4.0","","","$","2.7","","","$","(11.0)","","","$","(257.0)"],["Less: net loss attributable to non-controlling interest","\u2014","","","\u2014","","","\u2014","","","(0.1)"],["Net income (loss) attributable to FOX stockholders","$","4.1","","","$","2.7","","","$","(10.9)","","","$","(257.0)"]]
[[/GREPCENT_TABLE]]

*Amounts may not foot due to rounding.

The following table sets forth selected statement of income data as a percentage of net sales for the periods indicated:

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1424929/000142492926000012/foxf-20260102.htm
Complete FY 2026 MD&A: /company/FOXF/mda/fy2026/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Published MD&A gate trimmed front/tail over-capture.
Confidence: high
Filing date: 2026-02-27
Report date: 2026-01-02

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations, generally, as of and for fiscal years 2025 and 2024 should be read in conjunction with the consolidated financial statements and related notes thereto included elsewhere in this Annual Report on Form 10-K. For discussion related to the results of operations and changes in financial condition for fiscal year 2024 compared to fiscal year 2023 refer to Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations in our fiscal year 2024 Form 10-K, which was filed with the SEC on February 28, 2025. The purpose of this discussion is to focus on information concerning our financial condition and results of operations that is not readily apparent from our consolidated financial statements and related notes. This discussion contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those discussed below. You should review the “Risk Factors” and “Special Note Regarding Forward-Looking Statements” sections of this Annual Report on Form 10-K for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.

Overview

We design, engineer, manufacture and market performance-defining products and systems for customers worldwide. Our premium brands on performance-defining products and systems are used primarily on bikes, side-by-sides, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, motorcycles, all terrain vehicles (“ATVs”), snowmobiles, and specialty vehicles and applications. In addition, we also offer premium baseball and softball gear and equipment. Virtually all of our revenue was from our product sales. Miscellaneous sources of revenue such as service-related repair work and the associated sale of parts represented less than 2% of our sales in each of the years ended January 2, 2026, January 3, 2025 and December 29, 2023.

We determined that we operate in three reportable segments: PVG, AAG, and SSG. Our products fall into the following three categories:

•powered vehicles, including side-by-sides, certain on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, including military, motorcycles, and commercial trucks;

•aftermarket applications, mainly consisting of products for off-road vehicles and trucks, side-by-sides, on-road vehicles with or without off-road capabilities, specialty vehicles and applications as well as lift kits and components with our shock products and aftermarket accessory packages; and

•specialty sports products, which consist primarily of bike suspension, component products, and gear and equipment for baseball and softball.

The following table summarizes percentages of net sales by segment:

[[GREPCENT_TABLE]]
[["","","For the fiscal years ended"],["","","January 2, 2026","","January 3, 2025","","December 29, 2023"],["Powered Vehicles Group","","33","%","","33","%","","36","%"],["Aftermarket Applications Group","","32","%","","30","%","","38","%"],["Specialty Sports Group","","35","%","","37","%","","26","%"],["","","100","%","","100","%","","100","%"]]
[[/GREPCENT_TABLE]]

Sales attributable to countries outside the U.S. are based on shipment location. Our international sales, however, do not necessarily reflect the location of the end users of our products as many of our products are incorporated into bikes that are assembled at international locations and then shipped back to the U.S.

[[GREPCENT_TABLE]]
[["","","For the fiscal years ended"],["","","January 2, 2026","","January 3, 2025","","December 29, 2023"],["North America","","76","%","","79","%","","77","%"],["International","","24","%","","21","%","","23","%"],["","","100","%","","100","%","","100","%"]]
[[/GREPCENT_TABLE]]

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Opportunities, challenges and risks

We intend to focus on generating sales of our performance-defining products through OEMs, aftermarket, retail, and direct-to-consumer channels. To do this, we intend to continue to develop and introduce new and innovative products in our current end-markets and we intend to selectively develop products for applications and end-markets in which we do not currently participate. Currently, the majority of our sales are dependent on the demand for performance-defining products.

As a supplier to OEM customers, we are largely dependent on the success of the business of our OEM customers. Model year changes by our OEM customers may adversely impact our sales or cause our sales to vary from quarter to quarter. Losses in market share or a decline in the overall market of our OEM customers or the discontinuance by our OEM customers of their products that incorporate our products could negatively impact our business and our results of operations. See “Risks Related to Our Business and Operations” within Item 1A. Risk Factors.

Our aftermarket distribution network currently consists of more than 9,600 retail dealers and distributors worldwide. To further penetrate the aftermarket channel, we intend to selectively add additional dealers and distributors in certain geographic markets, expand our internal sales force and strategically increase the number of aftermarket specific products and services that we offer for existing vehicle platforms.

From time to time, we have experienced, and may continue to experience, inventory risks, including excess, obsolete, or slow-moving inventory, as well as warranty costs and claims relating to our products. In the ordinary course of business, we reserve for these matters in our financial statements. There is a risk, however, that in the future we will experience higher than expected inventory adjustments or write-downs, warranty costs and claims, as well as other related costs. Please read “Risks Related to Our Business and Operations - If we inaccurately forecast demand for our products or inaccurately predict OEM and dealer destocking and restocking cycles and production schedules, we may manufacture insufficient or excess quantities or our manufacturing costs could increase, which could adversely affect our business” and “Product recalls, and significant product repair and/or replacement due to product warranty costs and claims have had, and in the future, could have, a material adverse impact on our business” within Item 1A. Risk Factors of this Annual Report on Form 10-K.

From time to time, we evaluate our portfolio of businesses and may pursue divestitures of non‑core or underperforming operations as part of our strategy to focus on higher‑growth, higher‑margin areas. Divestitures may result in transitional costs, potential loss of revenue, and other financial impacts during and after the separation, including possible gains or losses on disposal depending on the structure and timing of the transaction. These transactions can also create operational risks, including disruption to employees and customers and reliance on transition services arrangements for a period of time. We continue to assess opportunities to streamline our portfolio and allocate capital and management attention to areas that best support our strategic objectives.

We intend to evaluate selective potential acquisition opportunities for performance-defining products and technologies that we believe will help us extend our performance-defining product platform. Any acquisitions that we might make are subject to various risks and uncertainties and could have a negative impact on our results of operations. In addition, we may contractually obligate ourselves to contingent consideration or acquisition-related compensation payments in conjunction with such acquisitions, which could have a negative impact on our cash flow and results of operations. See Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources - Material Cash Requirements for additional information.

Our operations and supply chain are directly impacted by evolving U.S. trade policies and global tariffs. The current presidential administration expanded tariffs on steel, aluminum, and derivative products, imposed new tariffs on imports from China, Hong Kong, Mexico, and Canada, and proposed a shift toward reciprocal tariffs. These changes create uncertainty in global trade, potentially increasing our material costs, disrupting our supply chain, and affecting our pricing strategies. As tariffs continue to evolve, we may need to adjust our sourcing, production, and pricing to remain competitive and mitigate financial and operational risks. Please read “Risks Related to Laws and Regulations - U.S. policies related to global trade and tariffs could have a material adverse effect on our results of operations” within Item 1A. Risk Factors of this Annual Report on Form 10-K.

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Basis of presentation

Composition of net sales

Sales from:

•Product sales: consist of sales of performance-defining products and systems to customers worldwide. Sales are measured based on the consideration specified in a contract with a customer. We recognize sales when a performance obligation is satisfied by transferring control of a product to a customer, generally at the time of shipment for most products and over the time it takes to complete certain Outside Van upfit packages. Contracts are generally in the form of purchase orders and are governed by standard terms and conditions. For larger OEMs, dealers and retailers, we may also enter into master agreements;

•Service sales: consist of revenue generated from maintenance, repair, installation, and other support services provided to customers. These services are typically recognized as revenue when the service is performed;

•Tariff surcharges: consist of amounts billed to customers to recover tariff costs and are recorded as revenue when the associated products are recognized as revenue; and

•Shipping and handling fees: consists of shipping and handling fees billed to customers.

Net of:

•Rebates: consists of incentives we provide to customers based on sales of eligible products; and

•Sales returns allowances: consists of an estimate of our sales returns. This allowance is based upon estimates of the projected returns in future periods based on our experience with returns recorded in previous periods. Sales returns have not been significant to date.

Cost of sales

Cost of sales includes the cost of purchased parts and manufactured products (raw materials consumed, the cost to procure materials, labor costs, including wages, and employee benefits, and factory overhead to produce finished goods or products), including:

•the costs to inspect and repair products;

•shipping costs associated with inbound freight (such costs are capitalized as part of inventory and included in cost of sales as the inventory is sold);

•royalty expenses, including payments to certain parties for our use of licensed technology incorporated into our products;

•freight expenses incurred for certain shipments to customers;

•tariffs;

•warranty costs associated with the repair or replacement of products under warranty; and

•reductions in the carrying value of inventory to its net realizable value, if required, for estimated excess, obsolescence or impaired balances.

Gross profit/gross margin

Our gross profit equals our net sales minus cost of sales. Our gross margin measures our gross profit as a percentage of net sales.

Our gross margins fluctuate based on production volumes, product, customer and channel mix and overall supply chain and manufacturing efficiencies. Generally, we earn higher gro

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2026 MD&A: /company/FOXF/mda/fy2026/
All MD&A years: /company/FOXF/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2025 MD&A](/company/FOXF/mda/fy2025/): filed 2025-02-28; accession 0001424929-25-000007 (https://www.sec.gov/Archives/edgar/data/1424929/000142492925000007/foxf-20250103.htm)
- [FY 2023 MD&A](/company/FOXF/mda/fy2023/): filed 2024-02-23; accession 0001424929-24-000006 (https://www.sec.gov/Archives/edgar/data/1424929/000142492924000006/foxf-20231229.htm)
- [FY 2022 MD&A](/company/FOXF/mda/fy2022/): filed 2023-02-23; accession 0001424929-23-000020 (https://www.sec.gov/Archives/edgar/data/1424929/000142492923000020/foxf-20221230.htm)
- [FY 2021 MD&A](/company/FOXF/mda/fy2021/): filed 2022-02-24; accession 0001424929-22-000013 (https://www.sec.gov/Archives/edgar/data/1424929/000142492922000013/foxf-20211231.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 3751 Motorcycles, Bicycles & Parts) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index
- [TCU](/indicator/TCU/): Capacity Utilization: Total Index
- [PPIACO](/indicator/PPIACO/): Producer Price Index by Commodity: All Commodities
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity

Macro-to-micro threads including this sector: [Inflation (CPI / PCE / PPI)](/thread/inflation-cpi-pce-ppi/), [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Money & trade](/thread/money-trade/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/), [Industrial orders & inventories](/thread/industrial-orders/), [Trade & external](/thread/trade-external/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/FOXF.md · JSON record: /company/FOXF.json · verified financials: /company/FOXF/financials.json / /company/FOXF/financials.csv · machine TOC for the whole site: /llms.txt