Financial Data and Key Metrics Changes - The company reported first-quarter sales of approximately $400 million, an increase of 5.8% compared to the same period last year [41] - Earnings per diluted share for the quarter were $0.98, a decrease of 13.3% from $1.13 in the same period in 2022 [37] - Non-GAAP adjusted earnings per diluted share were $1.20, down 9.1% from $1.32 in the first quarter of 2022 [43] - Gross margin increased to 33.3%, up 150 basis points from 31.8% in the prior year [29] - Adjusted EBITDA increased by 10.3% to $79.2 million, with an adjusted EBITDA margin of 19.8% [31] Business Line Data and Key Metrics Changes - The Powered Vehicles Group (PVG) achieved a 35% growth in sales, reaching $281 million, marking a fifth consecutive record revenue quarter [25] - The Specialty Sports Group (SSG) saw a 30% decline in sales compared to the first quarter of 2022, primarily due to seasonality and inventory issues [29][75] Market Data and Key Metrics Changes - The company noted a significant inventory glut in the bike business, impacting sales and leading to a conservative outlook for the SSG [75] - There are positive signs of end customer demand in certain markets, although the overall inventory situation remains challenging [49] Company Strategy and Development Direction - The company is focusing on long-term sustainable growth, with cost reductions and workforce alignment as key strategies [24] - Plans to bifurcate the Powered Vehicles Group into two new product groups to better align go-to-market strategies [73] - The company is actively pursuing M&A opportunities in the bike business, taking advantage of lower valuations [16] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the SSG for the second quarter, anticipating continued revenue mix normalization in the PVG [61] - The company expects to see further margin expansion in the PVG as volume increases, with a line of sight to additional improvements over the next 12 to 18 months [26] Other Important Information - The company completed the acquisition of Custom Wheel House, contributing $6.9 million to the top line in Q1, with an expected full-year revenue contribution of $60 million to $70 million [38] - General and administrative expenses increased by approximately $8.1 million due to higher employee-related costs and legal fees [30] Q&A Session Summary Question: Inventory issues in the bike business - Management clarified that the inventory issue is primarily in the supply chain, with a need for faster movement into dealers [5][6] Question: Gross margin performance - The better-than-expected gross margin was attributed to factory optimization and efficiencies achieved in Q1 [7][8] Question: Incremental margin potential from Gainesville - Management indicated that only a slight increase in volume is needed to see further margin accretion, emphasizing the importance of consistent volume [14] Question: Chassis deposits and inventory management - Management expects Q1 to be the seasonal peak for chassis inventory, with gradual work through expected for the rest of the year [15] Question: M&A opportunities in the bike business - Management confirmed that the current inventory situation does create M&A opportunities, with a recent acquisition already completed [16] Question: Marketplace inventory posture between regions - Management noted that both North America and Europe are experiencing similar inventory challenges, with no significant demand issues [57][68]

Financial Performance - For the three months ended March 31, 2023, total sales increased by approximately $21.9 million, or 5.8%, compared to the same period in 2022, reaching $399.9 million[117] - Powered Vehicle product sales rose by $72.9 million, or 35.0%, driven by increased demand in the OEM channel and strong performance in upfitting product lines[117] - Specialty Sports product sales decreased by $51.0 million, or 30.0%, attributed to a return to seasonality and pre-pandemic market conditions[117] - Income from operations for the three months ended March 31, 2023, increased by approximately $0.5 million, or 0.9%, totaling $54.7 million[122] - Net income for the three months ended March 31, 2023, was $41.8 million, a decrease from $48.1 million in the same period in 2022[113] - For the three months ended March 31, 2023, net income decreased by $6.3 million, or 13.1%, to $41.8 million compared to $48.1 million for the same period in 2022[127] Costs and Expenses - Cost of sales for the three months ended March 31, 2023, increased by approximately $8.9 million, or 3.5%, totaling $266.6 million[118] - Gross margin improved by 150 basis points to 33.3% compared to 31.8% for the same period in 2022, due to lower materials costs and increased efficiencies[119] - Total operating expenses increased to $78.6 million, up $12.5 million or 18.9% from $66.1 million in the prior year[120] - Research and development expenses rose by approximately $2.7 million, or 21.4%, reflecting investments in personnel to support future growth and product innovation[121] - Provision for income taxes increased significantly to $9.4 million from $2.4 million in the prior year, reflecting a higher effective tax rate[113] - Interest expense increased by $1.5 million to $3.5 million, a rise of 75.0%, primarily due to higher outstanding borrowings and interest rates[123] Cash Flow and Financing - Net cash used in operating activities was $66.8 million for the three months ended March 31, 2023, compared to $143.1 million in the same period of 2022[130] - Cash used in investing activities increased significantly to $144.3 million, primarily due to the acquisition of Custom Wheel House for $130.9 million[136] - Net cash provided by financing activities was $157.8 million, largely from the 2022 Credit Facility, which included net proceeds of $160.0 million[138] - As of March 31, 2023, the company held $45.7 million of its $91.9 million cash and cash equivalents in foreign accounts, which may be repatriated[129] - The company’s weighted-average interest rate on outstanding borrowings was 5.38% as of March 31, 2023[144] - The company expects that cash on hand and cash flow from operations will be sufficient to fund operations for the next 12 months[130] Acquisitions and Growth - The acquisition of Custom Wheel House in February 2023 is expected to enhance the company's product offerings and market position[136] - The company has completed several acquisitions, including SCA in March 2020 and Custom Wheel House, LLC in February 2023, and intends to evaluate additional acquisitions in the future[219] Risks and Challenges - The company faces risks related to global public health issues, including the ongoing COVID-19 pandemic, which could negatively impact its operations and financial results[161] - The company is dependent on a limited number of suppliers, which could lead to increased material costs and supply chain disruptions[166] - The company relies on a sole-source supplier, Miyaki Corporation, for a specific coating, and any disruption in supply could adversely affect its operations[168] - The company has experienced and may continue to experience adverse effects from geopolitical conflicts, including tensions between Taiwan and China and the war in Ukraine[165] - The company may face challenges in passing on increased costs of raw materials to customers, which could negatively impact its financial condition[167] - Disruptions in supply chains, such as labor disputes at ports, could adversely affect the company's operating results[183] Market and Competition - The company faces intense competition from manufacturers with greater financial and marketing resources, which could negatively impact its market position[173] - Economic conditions significantly affect consumer spending on the company's discretionary products, with potential adverse impacts from inflation and recessions[174] - The company’s growth in the powered vehicle category relies on expanding product sales and market growth for powered vehicles requiring performance-defining products[178] - The company must maintain its premium brand image to ensure continued selection by OEM dealers and distributors, which is critical for sales[176] Operational and Compliance Issues - The company is subject to extensive laws and regulations relating to safety, environmental, and other standards, which may require additional expenses or modifications to product offerings[239] - Compliance with environmental laws and regulations may result in significant fines, penalties, and costs that could negatively affect the company's financial condition[247] - The company faces risks related to climate change, including potential disruptions to the supply chain and increased costs due to extreme weather conditions[244] - The SEC's proposed rules for climate-related disclosures may impose additional costs and affect the company's operations and financial condition[243] Employee and Talent Management - The company is dependent on attracting and retaining qualified talent, particularly in engineering and management roles, to sustain product quality and innovation[186] - The company is subject to government-mandated wage and benefit laws, which could increase employee costs and impact financial condition[211] - Inflation in healthcare costs and potential changes in federal or state healthcare legislation could significantly increase employee healthcare costs[212] Information Systems and Cybersecurity - The company relies on complex information systems for operations, and any failure or disruption could negatively affect business performance[213] - Cybersecurity attacks pose a risk to the company's information systems, potentially leading to financial and reputational damage[216] Stock and Market Performance - The stock price has fluctuated between $190.29 and $35.54 per share from April 3, 2020, to March 31, 2023, indicating significant volatility[255] - The company completed a follow-on offering of approximately 2.8 million shares of common stock in June 2020, which could dilute existing shareholders' ownership[257] - The trading price of the company's common stock could be influenced by fluctuations in the stock market and changes in consumer preferences[256] Internal Controls and Governance - As of March 31, 2023, the company's disclosure controls and procedures were effective at the reasonable assurance level[150] - There were no changes in internal control over financial reporting that materially affected the company's financial reporting[151] - Internal control failures over financial reporting could adversely affect the company's financial results and investor confidence[265]

Fox Factory Holding Corp. (NASDAQ:FOXF) Q4 2022 Earnings Conference Call February 23, 2023 4:30 PM ET Company Participants Vivek Bhakuni - Investor Relations Mike Dennison - Chief Executive Officer Scott Humphrey - Chief Financial Officer and Treasurer Conference Call Participants Michael Swartz - Truist Securities Larry Solow - CJS Securities Jim Duffy - Stifel Anna Glaessgen - Jefferies Alex Perry - Bank of America Craig Kennison - Baird Operator Good afternoon, ladies and gentlemen and thank you for stan ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36040 Fox Factory Holding Corp. (Exact Name of Registrant as Specified in its Charter) Delaware 26-1647258 (State ...

Fox Factory Holding Corp. (NASDAQ:FOXF) Q3 2022 Earnings Conference Call November 3, 2022 4:30 PM ET Company Participants Mike Dennison - Chief Executive Officer Scott Humphrey - Chief Financial Officer and Treasurer Conference Call Participants Larry Solow - CJS Securities Mike Swartz - Truist Securities Anna Glaessgen - Jefferies Jim Duffy - Stifel Craig Kennison - Baird [Abrupt Start] ….and as always, remain agile and nimble. On a long-term basis, and as these headwinds abate, we remain committed to our ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-36040 Fox Factory Holding Corp. (Exact name of registrant as specified in its charter) Delawa ...

Fox Factory Holding Corp. (NASDAQ:FOXF) Q2 2022 Earnings Conference Call August 4, 2022 4:30 PM ET Company Participants Vivek Bhakuni - Senior Director, Investor Relations and Business Development Mike Dennison - Chief Executive Officer Scott Humphrey - Chief Financial Officer and Treasurer Conference Call Participants Mike Swartz - Truist Anna Glaessgen - Jefferies Jim Duffy - Stifel Alex Perry - Bank of America Jessye McVane - William Blair Lee Jagoda - CJS Securities Craig Kennison - Baird Vivek Bhakuni ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 1, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-36040 Fox Factory Holding Corp. (Exact name of registrant as specified in its charter) Delaware 26- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 1, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-36040 Fox Factory Holding Corp. (Exact name of registrant as specified in its charter) Delaware 26 ...

Fox Factory Holding Corp. (NASDAQ:FOXF) Q4 2021 Results Conference Call February 24, 2022 4:30 PM ET Company Participants Vivek Bhakuni - Director of Investor Relations & Business Development Mike Dennison - Chief Executive Officer Scott Humphrey - Chief Financial Officer & Treasurer Conference Call Participants Peter Lukas - CJS Securities Anna Glaessgen - Jefferies Rudy Yang - Berenberg Ryan Sundby - William Blair Scott Stember - C.L. King Alex Perry - Bank of America Operator Good afternoon, ladies and g ...