PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the three months ended April 2, 2021, showing significant year-over-year growth in revenue and net income [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of April 2, 2021, total assets increased to $1.36 billion from $1.29 billion at the beginning of the year, primarily driven by growth in cash, accounts receivable, and inventory, while total liabilities rose to $594.8 million and stockholders' equity grew to $762.3 million Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | April 2, 2021 | January 1, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $650,853 | $581,969 | | **Total Assets** | **$1,357,098** | **$1,286,561** | | **Total Current Liabilities** | $198,034 | $165,389 | | **Total Liabilities** | **$594,807** | **$567,390** | | **Total Stockholders' Equity** | **$762,291** | **$719,171** | [Condensed Consolidated Statements of Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For the first quarter of 2021, the company reported a significant 52.5% year-over-year increase in sales, reaching $281.1 million, with net income attributable to stockholders surging to $38.0 million, or $0.90 per diluted share Q1 2021 vs. Q1 2020 Income Statement (in thousands, except per share data) | Metric | Q1 2021 (ended Apr 2) | Q1 2020 (ended Apr 3) | % Change | | :--- | :--- | :--- | :--- | | Sales | $281,136 | $184,361 | +52.5% | | Gross Profit | $97,924 | $56,615 | +73.0% | | Income from Operations | $45,856 | $11,567 | +296.4% | | Net Income Attributable to FOX Stockholders | $37,986 | $8,250 | +360.4% | | Diluted EPS | $0.90 | $0.21 | +328.6% | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company generated $66.0 million in cash from operating activities, a substantial improvement from a $33.5 million use of cash in the prior-year period, with cash and cash equivalents increasing by $45.7 million to $291.5 million Q1 2021 vs. Q1 2020 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2021 (ended Apr 2) | Q1 2020 (ended Apr 3) | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $66,028 | $(33,485) | | Net cash used in investing activities | $(16,885) | $(342,050) | | Net cash (used in) provided by financing activities | $(3,752) | $408,332 | | **Change in Cash and Cash Equivalents** | **$45,707** | **$32,446** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed breakdowns of financial data, confirming strong revenue growth across both Powered Vehicles and Specialty Sports segments, and detailing debt structure, legal proceedings, and the accounting for the March 2020 SCA Performance acquisition Sales by Product Category (in thousands) | Product Category | Q1 2021 | Q1 2020 | % Change | | :--- | :--- | :--- | :--- | | Powered Vehicles | $162,747 | $120,526 | +35.0% | | Specialty Sports | $118,389 | $63,835 | +85.5% | | **Total Sales** | **$281,136** | **$184,361** | **+52.5%** | - The company is engaged in ongoing patent infringement litigation with SRAM Corporation, with lawsuits filed by both parties. The company believes the lawsuits against it are without merit[69](index=69&type=chunk)[70](index=70&type=chunk) - On March 11, 2020, the company acquired SCA Performance Holdings, Inc. for **$331.9 million**, net of cash acquired. The acquisition contributed significantly to the Powered Vehicles segment[97](index=97&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the 52.5% year-over-year sales growth to the SCA acquisition and strong demand, with gross margin improving by 410 basis points to 34.8% and operating expenses decreasing as a percentage of sales, leading to a 295.7% increase in income from operations - Total sales increased by **$96.8 million**, or **52.5%**, year-over-year. Powered Vehicle sales grew **35.0%**, primarily due to the SCA acquisition, while Specialty Sports sales grew **85.5%** due to increased demand in both OEM and aftermarket channels[114](index=114&type=chunk) - Gross margin increased by **410 basis points** to **34.8%** from **30.7%** in the prior year. This was primarily due to a favorable product and channel mix, including the impact of the SCA acquisition, and lower factory costs related to COVID-19 compared to Q1 2020[116](index=116&type=chunk) - General and administrative expenses decreased by **$2.0 million**, mainly due to a **$9.9 million** decrease in acquisition-related costs, partially offset by higher headcount and incentive compensation costs[118](index=118&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that there have been no material changes to its market risk disclosures since its Annual Report on Form 10-K for the fiscal year ended January 1, 2021 - There have been no material changes to the disclosures regarding market risk from the company's most recent Annual Report on Form 10-K[142](index=142&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Based on an evaluation as of April 2, 2021, the company's Chief Executive Officer and Chief Financial Officer concluded that the disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of April 2, 2021[145](index=145&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[146](index=146&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ongoing patent infringement litigation with SRAM Corporation, with both companies filing lawsuits against each other, and Fox Factory believes the claims against it are without merit and intends to defend itself vigorously - The company's subsidiary, RFE Canada, is in a legal dispute with SRAM Corporation over alleged patent infringement. The company has also filed its own patent infringement lawsuits against SRAM[149](index=149&type=chunk)[150](index=150&type=chunk) - The company cannot predict the outcome or a range of reasonably possible losses at this time and has not recorded any liability for these matters[151](index=151&type=chunk) [Item 1A. Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) This section details significant risks to the business, including the ongoing impact of the COVID-19 pandemic, intense competition, reliance on discretionary consumer spending, dependence on a small number of large OEM customers, potential supply chain disruptions, and risks associated with international operations - The business continues to face risks from the COVID-19 pandemic, which could disrupt supply chains, manufacturing, and consumer demand[160](index=160&type=chunk) - The company's products are discretionary purchases, making sales sensitive to economic downturns and changes in consumer spending habits[167](index=167&type=chunk) - A substantial portion of sales comes from a small number of OEM customers, and the loss of any of these customers could materially impact the business. In fiscal 2020, the top five OEM customers accounted for approximately **23%** of sales[188](index=188&type=chunk) - The company depends on a limited number of suppliers, including a sole-source supplier for its Kashima coating, which could lead to production delays or increased costs if supply is disrupted[214](index=214&type=chunk)[216](index=216&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=56&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the quarter, the company repurchased 1,493 shares of its common stock at a weighted-average price of $106.22 per share to satisfy tax-withholding obligations related to the vesting of restricted stock unit awards for employees Issuer Purchases of Equity Securities (Q1 2021) | Period | Total Number of Shares Purchased | Weighted-average Price Paid per Share | | :--- | :--- | :--- | | 1/2 - 2/5 | — | $— | | 2/6 - 3/5 | 813 | $127.15 | | 3/6 - 4/2 | 680 | $81.19 | | **Total** | **1,493** | **$106.22** | [Item 3. Defaults Upon Senior Securities](index=56&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[262](index=262&type=chunk) [Item 4. Mine Safety Disclosures](index=56&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - Not applicable[263](index=263&type=chunk) [Item 5. Other Information](index=56&type=section&id=Item%205.%20Other%20Information) There is no other information to report for the period - None[264](index=264&type=chunk) [Item 6. Exhibits](index=57&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications from the Principal Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act of 2002 - The report includes certifications from the CEO and CFO pursuant to Section 302 and Section 906 of the Sarbanes-Oxley Act, as well as XBRL data files[265](index=265&type=chunk)

Fox Factory Holding Corp. (NASDAQ:FOXF) Q4 2020 Earnings Conference Call February 25, 2021 4:30 PM ET Company Participants Vivek Bhakuni - Director, Investor Relations and Business Development Mike Dennison - Chief Executive Officer Scott Humphrey - Chief Financial Officer and Treasurer Conference Call Participants Larry Solow - CJS Securities Jim Duffy - Stifel Mike Swartz - Truist Securities Scott Stember - CL King Rudy Yang - Berenberg Operator Good afternoon, ladies and gentlemen and thank you for stand ...

Financial Data and Key Metrics Changes - Third quarter sales reached $260.7 million, a 23.4% increase from $211.3 million in Q3 2019 [25][31] - Adjusted EPS for Q3 was $1.07, a growth of 29% over Q3 2019 [10][32] - Gross margin improved to 34.3%, up 130 basis points from 33.0% in the prior year [26] - Adjusted EBITDA increased by 38.1% to $60.1 million, with an adjusted EBITDA margin of 23.1% [30] Business Line Data and Key Metrics Changes - Specialty Sports Group sales grew by 32.4% compared to Q3 2019, driven by high demand in both OEM and aftermarket channels [25] - Power Vehicles Group sales increased by 17.7% compared to Q3 2019, primarily due to sales from the FCA acquisition [26] Market Data and Key Metrics Changes - The outdoor recreational activities trend continues to drive demand for products, attracting new participants in the bicycling category [11] - The aftermarket demand remains strong, with no significant disruptions despite the transition to the new Georgia facility [13][20] Company Strategy and Development Direction - The company aims to leverage its diversified product lines to support a growing customer base and capitalize on market opportunities [39] - Future growth is expected in the Specialty Sports Group segment in the mid-to-high single digits and in the Power Vehicles Group segment in the low double digits [23] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the operating environment, indicating that factory shutdowns are largely behind them [20] - The company is well-positioned for future growth, with plans to remain flexible and agile in navigating potential challenges [21][22] Other Important Information - The company has a strong balance sheet with cash on hand of $278.2 million and a net leverage ratio of approximately 0.95 times [33][36] - Guidance for Q4 2020 includes expected sales in the range of $240 million to $250 million and non-GAAP adjusted earnings per diluted share between $0.72 and $0.80 [37] Q&A Session Summary Question: Can you provide more color on the policy group trends? - Management noted strong demand signals in Power Sports and continued growth in the aftermarket business, with expectations for this trend to continue into Q4 and early 2021 [41][42] Question: How is visibility looking for power vehicle OEM categories into 2021? - Management acknowledged a gap in vehicle inventory due to previous shutdowns but expects gradual improvement as demand remains strong [44][45] Question: What is the status of the Georgia facility transition? - Management confirmed productivity gains from the Georgia facility but noted that the transition is ongoing, with some duplicative manufacturing still in California [53][54] Question: How is the integration of the SCA acquisition progressing? - Management reported positive integration progress and expects benefits to materialize in 2021, despite challenges posed by COVID-19 [56] Question: Are you seeing any pricing power due to supply and demand dynamics? - Management emphasized a focus on long-term partnerships and innovation rather than opportunistic price increases, aiming for efficiency and productivity improvements instead [90][92]

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 October 2, 2020 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) (State or ...

Financial Data and Key Metrics Changes - In Q2 2020, the company generated sales of $183.1 million, a decrease of 4.7% compared to $192.1 million in Q2 2019 [20] - Gross margin was 32.8%, a 40 basis point increase from 32.4% in the prior year [21] - Adjusted EBITDA was $33.7 million, down from $38.2 million in the same quarter last year, with an adjusted EBITDA margin of 18.4% compared to 19.9% in Q2 2019 [24] - Net income attributable to the company was $12.6 million or $0.32 per diluted share, compared to $22.9 million or $0.59 per diluted share in the prior year [25] Business Line Data and Key Metrics Changes - Specialty Sports Group product sales increased by 10% compared to Q2 2019, driven by high demand in both OEM and aftermarket channels [10][20] - Powered Vehicles Group product shipments decreased by 14.5% compared to Q2 2019, primarily due to production shutdowns at OEM customers [20][12] Market Data and Key Metrics Changes - The company noted strong demand for its Specialty Sports products, particularly in outdoor recreational activities, which have seen a resurgence during the pandemic [10][16] - The demand for premium trucks and Jeep platforms remains strong, with new agreements signed with FCA for Jeep upfitting [13] Company Strategy and Development Direction - The company is focused on leveraging its diversified product portfolio to support a growing customer base, particularly in outdoor activities [29] - The expansion of the manufacturing footprint in Georgia is expected to optimize supply chain operations and enhance production capabilities [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery from factory shutdowns and anticipated continued demand growth in the second half of 2020 [17][29] - The company is prepared to adjust operations in response to any future government mandates related to COVID-19 [17] Other Important Information - The company raised approximately $198 million in net proceeds from a follow-on offering to enhance financial flexibility during economic uncertainty [27] - The acquisition of SCA contributed positively to sales, with a full quarter of sales included in the results [20] Q&A Session Summary Question: Can you speak to the increased demand for bikes and its sustainability? - Management noted a "bike renaissance" with increased demand across all product mixes, driven by new entrants into the sport and changing demographics [31][32] Question: What is the impact of factory shutdowns on Powered Vehicle sales? - Management clarified that the decline in Powered Vehicle sales was due to factory shutdowns rather than a decrease in customer demand, with a strong order book for Q3 [34] Question: How do you view the gross margin increase despite challenges? - The increase in gross margin was attributed to product mix and the benefits from the SCA acquisition, although there were also costs associated with factory shutdowns [36] Question: What is the current state of supply chains for bikes and Powered Vehicles? - Management indicated that the supply chain for bikes is improving, while the Powered Vehicle supply chain remains healthy, with no major issues expected for Q3 [43][44] Question: Can you discuss the rationale behind the equity raise? - The equity raise was intended to strengthen the balance sheet and position the company for potential acquisitions while maintaining liquidity during the pandemic [51][52] Question: What is the outlook for demand in the premium automotive sector? - Management reported strong demand in the premium automotive sector, with no signs of slowdown, although supply may lag behind demand [53] Question: How is the new facility in Georgia performing? - The Georgia facility is on track with production ramp-up, and innovative hiring strategies have been implemented to attract talent during the pandemic [69]

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 3, 2020 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- ...

Financial Data and Key Metrics Changes - In Q1 2020, the company generated sales of $184.4 million, a 14% increase compared to $161.7 million in Q1 2019 [21][36] - Gross margin was 30.7%, a decrease of 90 basis points from 31.6% in the prior year [37] - Non-GAAP adjusted net income was $20.5 million, a decrease of approximately $1.1 million compared to $21.6 million in Q1 2019 [44] - The effective tax rate for Q1 2020 was 9.5%, lower than the expected mid- to long-term rate due to a reduction of foreign tax [42] Business Line Data and Key Metrics Changes - Powered Vehicles Group product sales increased by 24.6% compared to Q1 2019, driven by strong OEM channel performance prior to the pandemic [21] - Specialty Sports Group sales decreased by 1.8% compared to the prior year, reflecting a shift in timing of OEM orders [22] - The Specialty Sports Group's model year 2021 introductions have been well received, indicating potential for future growth despite a slight decline in Q1 [23] Market Data and Key Metrics Changes - The company experienced a temporary slowdown in the Powered Vehicles Group due to OEM customer closures, while aftermarket sales remained strong [19][60] - In April, OEMs were shut down in the U.S., impacting Powered Vehicles Group results, but the Specialty Sports Group functioned in a more normalized production environment [24][60] Company Strategy and Development Direction - The company is focused on expanding its powered vehicles manufacturing footprint in Georgia, with the first phase of the new facility set to be operational soon [20][29] - The acquisition of SCA is expected to enhance the company's North American manufacturing footprint and diversify its brand and product portfolio [30][31] - The company remains optimistic about growth opportunities as North America and Europe begin to reopen their economies [29] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of employee health and safety while navigating the challenges posed by the COVID-19 pandemic [9][52] - The company believes that the issues faced are transitory and not indicative of a long-term demand problem [27] - There is an expectation of pent-up demand for powered vehicles as the economy reopens, although the exact timing remains uncertain [101] Other Important Information - The company incurred approximately $1.8 million in COVID-19-related costs in Q1, which impacted gross profit results [11][37] - The company has taken measures to manage costs, including reducing nonessential operating expenses and furloughing employees [48][49] - The company has a $250 million revolving credit facility, providing financial flexibility moving forward [50] Q&A Session Summary Question: Impact of COVID-19 on Powered Vehicle Sales - Management noted that while end-customer demand remained strong, factory shutdowns significantly impacted sales in April [58][60] Question: Resilience of Customers During Economic Slowdown - Management indicated that the current situation is a pandemic response rather than a recessionary one, and end-customer demand has remained strong [64][66] Question: Annualized Benefit from Cost-Cutting Measures - Management stated that it is difficult to specify the annualized benefit from cost-cutting measures due to the variability in furlough durations and production ramp-up [70][74] Question: Retail Demand and Lead Times - Management confirmed that the order book was strong going into Q2, reflecting good visibility into demand for model year 2021 products [101] Question: Aftermarket Trends - Management reported that aftermarket demand for bikes remained strong, while powered vehicle aftermarket sales were impacted by installer availability [90][91]

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 3, 2020 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 2019 Earnings Conference Call March 3, 2020 4:30 PM ET Company Participants David Haugen – General Counsel Mike Dennison – Chief Executive Officer John Blocher – Interim Chief Financial Officer Conference Call Participants Mike Swartz – SunTrust Robinson Humphrey Craig Kennison – Robert W. Baird and Company Scott Stember – CL King Larry Solow – CJS Securities Jim Duffy – Stifel Alex Maroccia – Berenberg Rafe Jadrosich – Bank of America Merrill Lynch Operator Greeti ...

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 January 3, 2020 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 or ...