Fox Factory Holding ( (FOXF) ) has released its Q1 earnings. Here is a breakdown of the information Fox Factory Holding presented to its investors.
Fox Factory Holding Corp., a global leader in the design, engineering, and manufacturing of premium performance products for specialty sports and vehicles, has reported its financial results for the first quarter of fiscal 2025. The company is known for its innovative products that cater to both professional athletes and enthusiasts worldwide.
In the first quarter of fiscal 2025, Fox Factory Holding Corp. reported net sales of $355 million, marking a 6.5% increase compared to the previous year. Despite this growth in sales, the company experienced a significant net loss per diluted share of $6.23, primarily due to a substantial goodwill impairment charge.
Key highlights from the earnings report include a rise in net sales across all segments, with notable increases in the Aftermarket Applications Group and Specialty Sports Group. The company also reported improvements in adjusted EBITDA margins for its AAG and PVG segments, reflecting ongoing operational and cost management strategies.
Looking ahead, Fox Factory Holding Corp. remains optimistic about its ability to generate free cash flow and improve its balance sheet, despite challenges such as market demand fluctuations and tariff uncertainties. The company is focused on strategic actions to optimize its business and anticipates restoring its strong EBITDA margin profile as market conditions stabilize.