FOX FACTORY HOLDING CORP
For the period ended Nov 6, 2025. Filed Nov 6, 2025.
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Nov 6, 2025 · Filed Nov 6, 2025
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EX-99.1 · CALCULATION OF ADJUSTED OPERATING EXPENSE MARGIN
CALCULATION OF ADJUSTED OPERATING EXPENSE MARGIN
The following tables provide a reconciliation of operating expense to adjusted operating expense (a non-GAAP measure) and the calculations of operating expense margin and adjusted operating expense margin (a non-GAAP measure), for the three and nine months ended October 3, 2025 and September 27, 2024. These non-GAAP financial measures are provided in addition to, and not as an alternative for, the Company’s reported GAAP results.
| For the three months ended | For the nine months ended | |||
|---|---|---|---|---|
| October 3, 2025 | September 27, 2024 | October 3, 2025 | September 27, 2024 | |
| Net sales | $376,355 | $359,121 | $1,106,249 | $1,041,084 |
| Operating expense | $99,351 | $88,677 | $558,080 | $275,333 |
| Goodwill impairment | — | — | (262,129) | — |
| Amortization of purchased intangibles | (10,383) | (11,035) | (31,659) | (33,355) |
| Litigation and settlement-related expenses | (297) | (466) | (1,487) | (3,226) |
| Other acquisition and integration-related expenses(1) | (572) | (459) | (1,570) | (1,607) |
| Organizational restructuring expenses(2) | (2,428) | (691) | (7,598) | (1,126) |
| Strategic transformation costs(3) | — | (266) | (20) | (1,520) |
| Adjusted operating expense | $85,671 | $75,760 | $253,617 | $234,499 |
| Operating expense margin | 26.4% | 24.7% | 50.4% | 26.4% |
| Adjusted operating expense margin | 22.8% | 21.1% | 22.9% | 22.5% |
(1) Represents various acquisition-related costs and expenses incurred to integrate acquired entities into the Company’s operations, excluding amortization for purchase accounting inventory fair value adjustment that was classified as cost of sales.
(2) Represents expenses associated with various restructuring initiatives.
(3) Represents costs associated with various strategic initiatives.
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