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Apr 04, 2025
Fox Q1 2025 Earnings Report
reported financial results for the first fiscal quarter ended April 4, 2025
Key Takeaways
Fox Factory Holding Corp. reported net sales of $355.0 million for the first quarter of fiscal 2025, a 6.5% increase year-over-year. The company experienced a net loss of $259.7 million, primarily due to a significant goodwill impairment charge, while adjusted net income was $9.8 million.
Net sales for Q1 fiscal 2025 were $355.0 million, up 6.5% from the prior year.
The company reported a net loss of $259.7 million in Q1 fiscal 2025, heavily impacted by a $262.3 million goodwill impairment.
Adjusted net income for Q1 fiscal 2025 was $9.8 million, or $0.23 per diluted share.
Adjusted EBITDA was $39.6 million in Q1 fiscal 2025, with an adjusted EBITDA margin of 11.2%.
Revenue by Segment
Forward Guidance
For the second quarter of fiscal 2025, the company expects net sales between $340 million and $360 million and adjusted earnings per diluted share between $0.32 and $0.62. For the full fiscal year 2025, the company reaffirms guidance of net sales between $1.385 billion and $1.485 billion and adjusted earnings per diluted share between $1.60 and $2.60.
Positive Outlook
- Operational improvements and strategic cost management initiatives are expected to drive margin improvements.
- Decisive actions are expected to yield more tangible margin improvement throughout the year.
- Actions taken to optimize the business are expected to generate free cash flow in fiscal year 2025.
- Expects to be well positioned to restore best-in-class adjusted EBITDA margin profile as market conditions normalize.
- Believes the unmitigated component of potential tariff impacts can be absorbed in the current plan for full year 2025.
Challenges Ahead
- End market demand remains challenging.
- Tariffs create additional uncertainty.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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