Foxx Development Holdings Inc (NASDAQ: FOXX) is a consumer electronics company that designs and sells mobile phones, tablets, wearable devices, and IoT products through third-party distributors and e-commerce channels. Revenue is transactional, generated by selling hardware to distributors who resell to end-users, supplemented by direct sales via platforms including Amazon, BestBuy.com, Walmart.com, Shein, Newegg, and Mercado Libre, with a TikTok Shop channel launched in March 2024. The company operates a build-to-order model, fulfilling bulk purchase orders against customer-specified designs and budgets. Total cost of goods sold for mobile phones reached approximately $57.6 million for the year ended June 30, 2025, up from $2.6 million in the prior year, reflecting a sharp increase in mobile phone sales volume. Gross profit was approximately $4.8 million for the year ended June 30, 2025. Foxx is headquartered across facilities in Irvine, CA, San Diego, CA, and Alpharetta, GA, and employs 25 people as of the filing date. CEO Greg Foley has more than 25 years of experience in electronics sales and marketing.

Revenue model

Transactional hardware sales through a build-to-order model. Customers, primarily third-party distributors, submit bulk purchase orders with product specifications. Foxx also sells directly via e-commerce platforms including Amazon, BestBuy.com, Walmart.com, Shein, Newegg, Mercado Libre, and TikTok Shop. A small services revenue line began generating income in the year ended June 30, 2025, with cost of goods sold for other services of approximately $48,000.

Products and services

Mobile phones, tablets, kids LTE smartwatches (first generation launched Q1 calendar 2025), IoT modules (4G LTE Cat 1 bis, Cat 4, Cat M, NB-IoT, 5G, 5G Redcap, 5G AI, Bluetooth, Wi-Fi), an IoT cloud platform (second generation launched Q4 calendar 2024 as a PaaS and SaaS offering built on AWS), a smart water leak detector branded APEC Smart Water Leak Detector (SKU: SMTD-001-1PK) launched July 2025 in partnership with APEC Water Systems, and in-development products including a 4G LTE dashcam, 4G LTE jump starter, and 4G LTE tracker, all targeted for Q4 calendar 2025 launch. The company previously served as a certified supplier for the FCC Lifeline Program and Affordable Connectivity Program.

Customers and end markets

Primary customers are third-party distributors that resell to end-users through carrier sales channels. End markets include consumers seeking mobile devices and tablets, kids wearable technology buyers, smart home buyers, and IoT device users. The company has also developed products targeting US Mobile Network Operators and MVNOs. Lifeline Program participation served low-income individuals seeking subsidized communication services.

Value-chain role

Foxx sits between component suppliers and distributors. It designs products, manages OEM manufacturing through factories in Indonesia and Southeast Asia, performs quality control, and fulfills build-to-order inventory. It does not own manufacturing facilities. Supply chain is managed through multiple Southeast Asian supplier relationships.

Geographic exposure

US-focused sales and operations, with facilities in Irvine, CA (1,548 sq ft, lease expiring September 30, 2026), San Diego, CA (2,800 sq ft, lease expiring May 31, 2031), and Alpharetta, GA (300 sq ft, lease expiring February 14, 2026). Manufacturing supply chain sourced from Indonesia and Southeast Asia. E-commerce presence on Mercado Libre indicates Latin American channel activity.

Source: SEC 10-K, filed 2025-10-15

Industry: Computer Communications Equipment