Core Viewpoint - The article emphasizes the importance of value investing and highlights Fox Factory Holdings (FOXF) as a strong value stock based on its financial metrics and rankings [2][3][6] Company Analysis - Fox Factory Holdings (FOXF) currently has a Zacks Rank of 2 (Buy) and a Value grade of A, indicating strong potential for value investors [3] - FOXF has a PEG ratio of 1.33, significantly lower than the industry average of 2.69, suggesting it may be undervalued relative to its expected earnings growth [4] - The stock's PEG has fluctuated between a high of 4.07 and a low of 1.32 over the past year, with a median of 1.72 [4] - FOXF's P/CF ratio stands at 10.86, which is favorable compared to the industry's average P/CF of 21.40, indicating a solid cash flow outlook [5] - Over the past 12 months, FOXF's P/CF has ranged from a high of 18.16 to a low of 10.23, with a median of 12.73 [5] - These financial metrics collectively suggest that FOXF is likely undervalued at the moment, supported by a strong earnings outlook [6]

Company Overview - Fox Factory Holding Corp. conducted its Fourth Quarter and Full Year Fiscal 2024 Earnings Conference Call on February 27, 2025 [1][2] - The call featured key participants including the Chief Legal Officer, Chief Executive Officer, and Chief Financial Officer [1][3] Earnings Presentation - The earnings release was made available prior to the call, accessible on the investor relations section of the company's website [4] - The conference included a structured format with business updates from the CEO followed by a review of quarterly results and outlook from the CFO [3]

Financial Data and Key Metrics Changes - Total consolidated net sales in Q4 2024 were $352.8 million, an increase of 6.1% compared to $332.5 million in the same quarter last year [41] - Gross margin increased by 120 basis points to 28.9% in Q4 2024, compared to 27.7% in the same quarter last year [42] - Net loss in Q4 2024 was $0.1 million, or zero per diluted share, compared to net income of $4.1 million, or $0.10 per diluted share, in the same quarter last year [44] - Adjusted EBITDA increased to $40.4 million for Q4 2024, compared to $38.8 million in the same quarter last year [45] Business Line Data and Key Metrics Changes - In the Powered Vehicle Group (PVG), net sales were $116 million, slightly down from $118 million in the prior year quarter, but up 5% sequentially [16] - In the Aftermarket Applications Group (AAG), net sales were $112 million, down from $121 million in the prior year quarter, but up 11% sequentially [22] - In the Sports Segment Group (SSG), net sales were $125 million compared to $93 million last year, reflecting a 41.5% increase from a full quarter of Marucci [29] Market Data and Key Metrics Changes - The automotive sector continues to face headwinds from ongoing OEM production issues, with expectations for flat-to-down, low single-digit retail sales in 2025 [19] - The bike business is experiencing varied recovery rates across different geographies, channels, and customers, with a cautious outlook for 2025 [30] - The European market showed strength in early 2024, but purchasing habits weakened in Q4 due to inventory concerns [32] Company Strategy and Development Direction - The company is focused on operational excellence and strategic positioning across segments, with a comprehensive cost reduction program aimed at improving margins [56] - The company is diversifying across segments, products, markets, and geographies, with a focus on product development initiatives to create new customer engagements [15] - The company aims to restore best-in-class EBITDA margins as market conditions normalize while driving higher rates of free cash flow [16] Management's Comments on Operating Environment and Future Outlook - Management expects continued market pressures in 2025 but remains committed to operational efficiency and cost management to protect margins [21] - The company anticipates net sales for fiscal year 2025 in the range of $1.385 billion to $1.485 billion, with adjusted earnings per diluted share between $1.60 and $2.60 [52] - Management acknowledges the complexity of the regulatory environment, including tariffs, and is actively analyzing potential impacts [37] Other Important Information - The company has identified $25 million in savings across COGS and SG&A as part of its cost optimization plan [13] - The company is expanding its product portfolio, including the launch of the AGwagon, designed for agricultural use [26] - The company is working on several new products expected to launch in 2025, which are anticipated to revolutionize the suspension and bike market [32] Q&A Session Summary Question: Update on Taiwan facilities consolidation and capacity - Capacity is in line with pre-COVID levels, with increased efficiency within the same footprint, and future growth may occur outside Taiwan [62] Question: Update on the upfitting business and dealership dialogue - Strong relationships are being cultivated with dealers, and efforts are being made to reposition inventory effectively [66] Question: Insights on the bike business and revenue expectations - The company is being conservative in its outlook for the bike business, with potential upside but cautious due to previous forecasting challenges [72] Question: Impact of the new MLB partnership on Marucci - Growth is expected to ramp up in Q2 and Q3, with positive signs but no specific numbers provided yet [76] Question: Conversations with OEM partners regarding tariffs - The company feels relatively insulated from tariff impacts due to its focus on premium products and strong relationships with OEMs [84]

Fox Factory Holding Corp. (NASDAQ:FOXF) Q4 2024 Earnings Conference Call February 27, 2025 4:30 PM ET Company Participants Toby Merchant - Chief Legal Officer and Chief Compliance Officer Mike Dennison - CEO Dennis Schemm - CFO and President, After Market Applications Group Conference Call Participants Jim Duffy - Stifel Mike Swartz - Truist Anna Glaessgen - B. Riley Larry Solow - CJS Securities Alex Perry - Bank of America Merrill Lynch Scott Stember - ROTH MKM Craig Kennison - Baird Bret Jordan - Jefferie ...

Core Viewpoint - Fox Factory Holding (FOXF) reported a revenue increase of 6.1% year-over-year for the quarter ended December 2024, with a revenue of $352.84 million, surpassing the Zacks Consensus Estimate by 11.63% [1] Financial Performance - Earnings per share (EPS) for the quarter was $0.31, down from $0.48 in the same quarter last year, but above the consensus estimate of $0.29, resulting in an EPS surprise of 6.90% [1] - The company’s stock has returned -6.3% over the past month, compared to a -2.2% change in the Zacks S&P 500 composite [3] Segment Performance - Net Sales for Aftermarket Applications Group reached $112.19 million, exceeding the average estimate of $96.40 million [4] - Net Sales for Powered Vehicles Group was $116.16 million, compared to the average estimate of $93.90 million, reflecting a year-over-year decline of 1.9% [4] - Net Sales for Specialty Sports Group amounted to $124.49 million, slightly above the estimated $124.20 million, showing a significant year-over-year increase of 33.3% [4]

Group 1 - Fox Factory Holding (FOXF) reported quarterly earnings of $0.31 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, but down from $0.48 per share a year ago, representing an earnings surprise of 6.90% [1] - The company achieved revenues of $352.84 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 11.63% and up from $332.5 million year-over-year [2] - Over the last four quarters, Fox Factory Holding has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Group 2 - The stock has underperformed, losing about 13.6% since the beginning of the year, while the S&P 500 has gained 1.3% [3] - The current consensus EPS estimate for the upcoming quarter is $0.19 on revenues of $324.18 million, and for the current fiscal year, it is $1.94 on revenues of $1.41 billion [7] - The Zacks Industry Rank for Automotive - Domestic is currently in the bottom 36% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

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, 2025 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 ...

Exhibit 99.1 Fox Factory Holding Corp. Reports Fourth Quarter Fiscal 2024 Financial Results DULUTH, Georgia, February 27, 2025 - Fox Factory Holding Corp. (NASDAQ: FOXF) ("FOX" or the "Company"), a premium brand and a global leader in the design, engineering and manufacturing of performance-defining products and systems for customers worldwide, today reported financial results for the fourth fiscal quarter ended January 3, 2025. Fourth Quarter Fiscal 2024 Highlights 2 Management Commentary Mike Dennison, FO ...

Core Viewpoint - Fox Factory Holding Corp. reported financial results for the fourth fiscal quarter ended January 3, 2025, highlighting a mixed performance across its segments amid challenging market conditions [1][3]. Financial Performance - Net sales for Q4 fiscal 2024 were $352.8 million, a 6.1% increase from $332.5 million in Q4 fiscal 2023, driven by a 33.3% increase in Specialty Sports Group (SSG) sales [4][6]. - The SSG segment's sales rose from $93.4 million to $124.5 million, largely due to the acquisition of Marucci, which contributed $41.5 million in sales for the full quarter [4][11]. - Aftermarket Applications Group (AAG) sales decreased by 7.1% to $112.2 million, while Powered Vehicles Group (PVG) sales fell by 1.8% to $116.2 million due to lower industry demand [4][11]. Margins and Earnings - Gross margin for Q4 fiscal 2024 was 28.9%, up 120 basis points from 27.7% in Q4 fiscal 2023, primarily due to the amortization of acquired inventory valuation markup from the Marucci acquisition [5][6]. - Adjusted gross margin increased by 20 basis points to 29.2% compared to the prior year [5][6]. - The company reported a net loss of $0.1 million for Q4 fiscal 2024, compared to a net income of $4.1 million in the same period last year, with adjusted earnings per diluted share at $0.31 [9][14]. Operating Expenses - Total operating expenses for Q4 fiscal 2024 were $90.6 million, or 25.7% of net sales, compared to $81.0 million, or 24.4% of net sales in Q4 fiscal 2023 [7][13]. - Adjusted operating expenses were $76.4 million, or 21.7% of net sales, up from $68.5 million, or 20.6% of net sales in the prior year [7][13]. Yearly Overview - For the fiscal year ended January 3, 2025, net sales were $1,393.9 million, a decrease of 4.8% compared to fiscal 2023, with significant declines in AAG and PVG sales [11][14]. - Gross margin for fiscal 2024 was 30.4%, down 130 basis points from 31.7% in fiscal 2023, attributed to shifts in product line mix and operating leverage on lower volume [12][14]. - Adjusted EBITDA for fiscal 2024 decreased to $167.0 million, with an adjusted EBITDA margin of 12.0%, down from 17.8% in fiscal 2023 [15][15]. Balance Sheet and Cash Flow - As of January 3, 2025, the company had cash and cash equivalents of $71.7 million, down from $83.6 million at the end of the previous quarter, with total debt reduced to $705.1 million [17][17]. - Working capital improvements allowed the company to pay down $63 million in debt during Q4 fiscal 2024 [3][17]. Guidance - For Q1 fiscal 2025, the company expects net sales between $320 million and $350 million, with adjusted earnings per diluted share ranging from $0.12 to $0.32 [18][19]. - For the full fiscal year 2025, net sales are projected to be between $1.385 billion and $1.485 billion, with adjusted earnings per diluted share expected to range from $1.60 to $2.60 [18][19].

Core Viewpoint - Fox Factory Holding Corp. will announce its fourth-quarter results for the period ending January 3, 2025, on February 27, 2025, after market close [1] Company Overview - Fox Factory Holding Corp. is a global leader in the design, engineering, and manufacturing of premium products for specialty sports and on and off-road vehicles [3] - The company offers a portfolio of brands, including FOX, Marucci, and Method Race Wheels, known for their championship-level performance and innovation [3] - Fox Factory is a direct supplier of shocks, suspension, and components to leading powered vehicle and bicycle original equipment manufacturers, as well as premium baseball and softball gear [3] - The company diversifies its product offerings by acquiring complementary businesses, enhancing its engineering and manufacturing capabilities [3] - Fox Factory also provides products in the aftermarket through a global network of retailers, distributors, and direct-to-consumer channels [3] Conference Call Details - A conference call will be held on February 27, 2025, at 4:30 p.m. ET to discuss the fourth-quarter results, which will be available live on the company's website and archived for one year [2]