Foxx Development Holdings Inc.
For the period ended Mar 31, 2026. Filed May 20, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 20, 2026
FOXX$1.60-12.6%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets
| March 31, | June 30, | |
|---|---|---|
| 2026 | 2025 | |
| (Unaudited) | ||
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash | $3,190,474 | $1,875,453 |
| Accounts receivable, net of allowance for credit losses of $1,848,648 and $595,907, as of March 31, 2026 and June 30, 2025, respectively | 4,112,151 | 6,786,792 |
| Inventories | 6,965,109 | 12,686,739 |
| Contract assets | 41,724 | 454,842 |
| Prepaid expenses and other receivables, net of allowance for credit losses of $829,681 and $317,282, as of March 31, 2026 and June 30, 2025, respectively | 689,913 | 1,837,812 |
| Prepaid expenses - related party | - | 8,000 |
| Amount due from related parties - current | 28,720 | - |
| Total Current Assets | 15,028,091 | 23,649,638 |
| PROPERTY AND EQUIPMENT, NET | 90,934 | 131,722 |
| NON-CURRENT ASSETS | ||
| Operating right-of-use assets | 11,852,167 | 1,063,438 |
| Security deposits | 1,155,516 | 1,155,016 |
| Total Non-current Assets | 13,007,683 | 2,218,454 |
| Total Assets | $28,126,708 | $25,999,814 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| CURRENT LIABILITIES | ||
| Accounts payable – supplier financing | $32,327,766 | $26,244,987 |
| Other payables and accrued liabilities | 5,476,994 | 3,570,959 |
| Other payable - related parties | 7,000 | 272,917 |
| Contract liabilities | 142,852 | 378 |
| Income taxes payable | 65,243 | 76,743 |
| Current maturity of long-term loan | 24,094 | 23,743 |
| Operating lease liabilities - current | 1,839,557 | 211,525 |
| Total Current Liabilities | 39,883,506 | 30,401,252 |
| NON-CURRENT LIABILITIES | ||
| Operating lease liabilities - non-current | 36,003,926 | 889,827 |
| Long-term loan - non-current | 55,080 | 73,418 |
| Total Non-current Liabilities | 36,059,006 | 963,245 |
| Total Liabilities | 75,942,512 | 31,364,497 |
| COMMITMENTS AND CONTINGENCIES (See Note 18) | ||
| STOCKHOLDERS’ DEFICIT | ||
| Common stock, $0.0001 par value, 50,000,000 shares authorized as of March 31, 2026 and June 30, 2025; 7,005,191 and 6,780,597 shares issued and outstanding as of March 31, 2026 and June 30, 2025, respectively | 700 | 678 |
| Additional paid-in capital | 15,669,020 | 14,686,705 |
| Accumulated deficit | (63,468,413) | (20,047,064) |
| Accumulated other comprehensive loss | (17,111) | (5,002) |
| Total Stockholders’ Deficit | (47,815,804) | (5,364,683) |
| Total Liabilities and Stockholders’ Deficit | $28,126,708 | $25,999,814 |
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