FT X FACTORY 官方官方法的一名的一致了你的人 Q3 2021 INVESTOR PRESENTATION SAFE HARBOR STATEMENT This presentation does not constitute an offer or invitation for the sale or purchase of securities and has been prepared solely for informational purposes. This presentation contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performan ...

Financial Data and Key Metrics Changes - The company reported Q3 2021 sales of $347.4 million, representing a 33.3% increase compared to $260.7 million in Q3 2020 [24] - Non-GAAP adjusted earnings per share increased from $1.07 in Q3 2020 to $1.19 in Q3 2021 [13][40] - Adjusted EBITDA rose by 21.1% to $72.8 million in Q3 2021 compared to $60.1 million in the same quarter last year [36] Business Line Data and Key Metrics Changes - The Powered Vehicles Group (PVG) saw a 22.8% increase in sales compared to Q3 2020, driven by strong demand in both OEM and aftermarket channels [25] - The Specialty Sports Group (SSG) delivered a 48.1% increase in sales in Q3 2021, primarily due to high demand in OEM channels [26] - Year-to-date sales for SSG reached $956.7 million, a 52.3% increase from $628.2 million in the same period last year [26] Market Data and Key Metrics Changes - The company noted strong demand across all product categories, with no signs of abating demand due to a shift towards health-conscious and outdoor lifestyles [12] - Inventory levels remain close to historic lows, with an estimated 8 to 10 months needed to meet current customer demand levels [15] Company Strategy and Development Direction - The management team aims to achieve over $2 billion in revenue by 2025, referred to as FOX 2.0 [10] - The company is investing in key areas to improve speed to market and expand its service network [16] - Product innovation remains a key component of the growth strategy, with increased R&D spending by nearly $4 million in Q3 2021 compared to the prior year [21] Management's Comments on Operating Environment and Future Outlook - The management acknowledged ongoing challenges from labor, input costs, and supply chain issues, with material costs being the biggest headwind [22] - There is optimism about stabilizing demand across industries served, with confidence in the long-term business outlook [46] Other Important Information - The company ended Q3 2021 with cash on hand of $319.3 million and inventory of $246.2 million, reflecting investments to mitigate supply chain risks [41][42] - The effective tax rate for Q3 was 18.2%, in line with previous guidance [35] Q&A Session Summary Question: Guidance for fourth quarter margins - Management indicated that pricing strategies are being revisited to offset inflationary costs, leading to confidence in flat margins for Q4 [48][49] Question: Specialty Sports business and OEMs - There has been no significant move to decontent products as consumers are willing to pay higher prices for better equipment [50] Question: Material availability challenges - Supply chain continuity remains a challenge, but inventory investments have helped mitigate some issues [52][53] Question: Powered Vehicle side stabilization - Management believes stabilization is occurring in the powered vehicle business, particularly with OEM relationships [62] Question: Sales backlog and supply chain - The company is not leaving significant sales on the table, as they are prebooked through 2022 [65] Question: Infrastructure investments - Improvements in operating expenses are expected towards the end of next year as infrastructure investments continue [57] Question: Acquisitions and synergies - There is significant demand for the outside van business, with a focus on scaling production to meet this demand [59]

Sales Performance - For the three months ended October 1, 2021, total sales increased by approximately $86.7 million, or 33.3%, compared to the same period in 2020, reaching $347.4 million[131]. - Powered Vehicle product sales rose by $35.0 million, or 22.8%, driven by strong performance in upfitting product lines and increased demand in both OEM and aftermarket channels[131]. - Specialty Sports product sales increased by $51.7 million, or 48.1%, due to continued strong demand in the OEM channel[131]. - For the nine months ended October 1, 2021, total sales reached $956.7 million, up from $628.2 million in the same period of 2020, representing a 52.2% increase[127]. - Total sales for the nine months ended October 1, 2021 increased by $328.6 million, or 52.3%, to $956.8 million compared to $628.2 million for the nine months ended October 2, 2020[144]. Cost and Expenses - Cost of sales for the three months ended October 1, 2021, increased by approximately $60.2 million, or 35.2%, totaling $231.4 million[132]. - Operating expenses for the three months ended October 1, 2021, totaled $60.8 million, an increase from $43.9 million in the same period of 2020[127]. - Total operating expenses for the three months ended October 1, 2021 were $60.8 million, an increase of $16.8 million or 38.3% compared to $43.9 million for the same period in 2020[134]. - Cost of sales for the nine months ended October 1, 2021 increased by $209.6 million, or 49.7%, to $631.7 million compared to $422.1 million for the same period in 2020[145]. - Total operating expenses for the nine months ended October 1, 2021 were $171.2 million, an increase of $41.6 million or 32.1% compared to $129.6 million for the nine months ended October 2, 2020[148]. Profitability - Gross margin decreased by 90 basis points to 33.4% for the three months ended October 1, 2021, compared to 34.3% for the same period in 2020, primarily due to supply chain-related costs[133]. - Income from operations for the three months ended October 1, 2021 increased by $9.6 million, or 21.1%, to $55.2 million compared to $45.6 million for the three months ended October 2, 2020[137]. - Net income attributable to FOX stockholders for the three months ended October 1, 2021, was $43.8 million, compared to $38.0 million for the same period in 2020, reflecting an increase of 15.0%[127]. - Net income for the three months ended October 1, 2021 was $43.8 million, reflecting an increase of $5.8 million or 15.3% from $38.0 million for the same period in 2020[143]. - Income from operations for the nine months ended October 1, 2021 increased by $77.3 million, or 101.0%, to $153.8 million compared to $76.5 million for the same period in 2020[151]. - Net income for the nine months ended October 1, 2021 was $126.1 million, an increase of $66.1 million or 110.2% from $60.0 million for the nine months ended October 2, 2020[155]. Taxation - The provision for income taxes for the three months ended October 1, 2021, was $9.8 million, compared to $5.4 million for the same period in 2020[127]. - Provision for income taxes for the nine months ended October 1, 2021 was $20.5 million, an increase of $10.9 million or 113.5% from $9.6 million for the same period in 2020[153]. Cash Flow and Investments - For the nine months ended October 1, 2021, net cash provided by operating activities was $149.3 million, an increase from $99.8 million in the same period of 2020, representing a 49.5% growth[159]. - Net cash used in investing activities was $55.6 million for the nine months ended October 1, 2021, significantly lower than $375.4 million in the same period of 2020, reflecting a strategic shift in investment[163]. - The company made $40.0 million in property and equipment additions and $15.6 million in cash consideration for acquisitions during the nine months ended October 1, 2021[163]. - Net cash used in financing activities was $20.3 million for the nine months ended October 1, 2021, compared to net cash provided of $510.0 million in the same period of 2020, indicating a change in financing strategy[165][166]. Financial Position - The company has a Credit Facility with a borrowing capacity of $250.0 million and a term loan of $400.0 million, maturing on March 11, 2025[167]. - As of October 1, 2021, the weighted-average interest rate on outstanding borrowing was 1.30%, with the one-month LIBOR at 0.08%[169]. - The company was in compliance with all covenants of the Credit Facility as of October 1, 2021, ensuring financial stability[169]. - There have been no material off-balance sheet arrangements reported by the company[170]. Inventory and Receivables - The company experienced an increase in inventory of $116.8 million and accounts receivable of $37.9 million, indicating business growth and supply chain management efforts[160]. Market Conditions - The company has experienced rising raw material costs and supply chain constraints, which are expected to continue into the fourth quarter of 2021[171].

Fox Factory Holding Corp. (NASDAQ:FOXF) Q2 2021 Earnings Conference Call August 5, 2021 4:30 PM ET Company Participants Vivek Bhakuni - Director-Investor Relations & Business Development Mike Dennison - Chief Executive Officer Scott Humphrey - Chief Financial Officer & Treasurer Conference Call Participants Mike Swartz - Truist Securities Jim Duffy - Stifel Craig Kennison - Baird Anna Glaessgen - Jefferies Larry Solow - CJS Securities Scott Stember - CL King Operator Good afternoon, ladies and gentlemen and ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%2E%20FINANCIAL%20INFORMATION) Presents the company's unaudited financial statements and management's analysis for the reporting period [Financial Statements](index=3&type=section&id=Item%201%2E%20Financial%20Statements) Presents the unaudited condensed consolidated financial statements for Q2 2021, highlighting significant revenue and profitability growth [Unaudited Condensed Consolidated Balance Sheets](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) Details the balance sheet as of July 2, 2021, showing increased assets from inventory and growth in stockholders' equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | July 2, 2021 | January 1, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $723,229 | $581,969 | | Inventory | $208,550 | $127,091 | | **Total Assets** | **$1,453,990** | **$1,286,561** | | **Total Current Liabilities** | $248,879 | $165,389 | | Accounts Payable | $154,089 | $92,403 | | **Total Liabilities** | **$649,621** | **$567,390** | | **Total Stockholders' Equity** | **$804,369** | **$719,171** | [Unaudited Condensed Consolidated Statements of Income](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Income) Reports substantial year-over-year growth in sales and net income for the three and six months ended July 2, 2021 Income Statement Summary (in thousands, except per share data) | Metric | Q2 2021 | Q2 2020 | Six Months 2021 | Six Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Sales | $328,164 | $183,102 | $609,300 | $367,463 | | Gross Profit | $111,088 | $59,986 | $209,012 | $116,601 | | Income from Operations | $52,723 | $19,359 | $98,579 | $30,926 | | Net Income Attributable to FOX Stockholders | $44,275 | $12,608 | $82,261 | $20,858 | | Diluted EPS | $1.05 | $0.32 | $1.94 | $0.53 | [Unaudited Condensed Consolidated Statements of Comprehensive Income](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Shows a significant increase in comprehensive income attributable to FOX stockholders for both the quarter and six-month periods Comprehensive Income Summary (in thousands) | Metric | Q2 2021 | Q2 2020 | Six Months 2021 | Six Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $44,275 | $13,192 | $82,261 | $21,930 | | Other Comprehensive Income (Loss) | $131 | $923 | $1,752 | $(17) | | Comprehensive Income Attributable to FOX Stockholders | $44,406 | $13,531 | $84,013 | $20,841 | [Unaudited Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Stockholders%27%20Equity) Details the increase in total stockholders' equity driven by net income, partially offset by stock repurchases - Total stockholders' equity grew to **$804.4 million** as of July 2, 2021, from **$719.2 million** as of January 1, 2021[21](index=21&type=chunk) - The increase in equity was primarily driven by net income of **$82.3 million** recognized during the first six months of 2021[21](index=21&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Summarizes cash flow activities for the first six months of 2021, showing improved operating cash flow and significant investing and financing activities Cash Flow Summary for the Six Months Ended (in thousands) | Activity | July 2, 2021 | July 3, 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $81,690 | $5,689 | | Net cash used in investing activities | $(43,273) | $(361,992) | | Net cash (used in) provided by financing activities | $(9,616) | $530,773 | | Change in cash and cash equivalents | $29,212 | $174,229 | - The significant cash used in investing activities in 2020 was due to the acquisition of businesses for **$329.2 million**, primarily SCA[24](index=24&type=chunk) - The large cash inflow from financing activities in 2020 was driven by proceeds from debt issuance (**$392.4 million**) and sale of common stock (**$198.2 million**) to fund the SCA acquisition[24](index=24&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Provides crucial context to the financial statements, detailing accounting policies, revenue breakdown, acquisitions, debt, and legal contingencies Sales by Product Category for the Six Months Ended (in thousands) | Product Category | July 2, 2021 | July 3, 2020 | | :--- | :--- | :--- | | Powered Vehicles | $352,166 | $219,050 | | Specialty Sports | $257,134 | $148,413 | | **Total sales** | **$609,300** | **$367,463** | - On May 25, 2021, the Company acquired Outside Van for **$15.1 million**, and on May 21, 2021, it acquired Sola Sport Pty Ltd for **$0.5 million**[115](index=115&type=chunk)[117](index=117&type=chunk) - The company is engaged in ongoing patent infringement lawsuits with SRAM Corporation, vigorously defending itself against claims it believes are without merit, with an uncertain outcome[75](index=75&type=chunk)[76](index=76&type=chunk)[78](index=78&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202%2E%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Analyzes the company's financial performance for Q2 and the first half of 2021, highlighting sales growth, margin improvement, and liquidity [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Discusses the significant increase in Q2 2021 sales and gross margin, driven by strong demand and favorable product mix Q2 Sales Comparison (in millions) | Product Category | Q2 2021 | Q2 2020 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Powered Vehicle products | $189.5 | $98.5 | $91.0 | 92.4% | | Specialty Sports products | $138.7 | $84.6 | $54.1 | 63.9% | | **Total sales** | **$328.2** | **$183.1** | **$145.1** | **79.2%** | - Q2 2021 gross margin increased to **33.9%** from **32.8%** in Q2 2020, driven by favorable product/channel mix and strong performance of upfitting product lines[134](index=134&type=chunk) - For the six months ended July 2, 2021, total sales grew **65.8%** to **$609.3 million**, and net income increased **275.8%** to **$82.3 million** compared to the prior year period[143](index=143&type=chunk)[155](index=155&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) Examines the company's liquidity sources, including operating cash flows and credit facility, and details cash flow activities Cash Flow Summary for the Six Months Ended (in thousands) | Activity | July 2, 2021 | July 3, 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $81,690 | $5,689 | | Net cash used in investing activities | $(43,273) | $(361,992) | | Net cash (used in) provided by financing activities | $(9,616) | $530,773 | - The company's Credit Facility provides a **$250.0 million** revolving line of credit and a **$400.0 million** term loan, maturing in March 2025, with compliance to all covenants as of July 2, 2021[167](index=167&type=chunk)[169](index=169&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203%2E%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) States that there have been no material changes to the company's market risk disclosures since its last Annual Report on Form 10-K - There have been no material changes to the disclosures regarding market risk since the company's last Annual Report on Form 10-K[173](index=173&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204%2E%20Controls%20and%20Procedures) Confirms the effectiveness of disclosure controls and procedures as of July 2, 2021, with no material changes to internal control over financial reporting - Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of July 2, 2021[175](index=175&type=chunk) - No changes to internal control over financial reporting were identified during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[176](index=176&type=chunk) [PART II. OTHER INFORMATION](index=39&type=section&id=PART%20II%2E%20OTHER%20INFORMATION) Provides additional information including legal proceedings, risk factors, and equity security sales [Legal Proceedings](index=39&type=section&id=Item%201%2E%20Legal%20Proceedings) Details the ongoing patent infringement litigation with SRAM Corporation, noting the company's vigorous defense and uncertain outcome - The company is engaged in patent infringement lawsuits with SRAM Corporation, with cases pending in U.S. District Courts[178](index=178&type=chunk)[179](index=179&type=chunk) - In February 2021, the U.S. Patent and Trademark Appeals Board (PTAB) issued a favorable opinion for the company regarding SRAM's '027 Patent but an unfavorable one regarding the '250 Patent[178](index=178&type=chunk) - The company cannot predict the outcome or estimate potential losses, and no financial provision has been made for these legal matters[180](index=180&type=chunk) [Risk Factors](index=40&type=section&id=Item%201A%2E%20Risk%20Factors) Outlines significant risks that could adversely affect the company's business, including operational, financial, and regulatory challenges [Risks Related to Our Business and Operations](index=42&type=section&id=Risks%20Related%20to%20Our%20Business%20and%20Operations) Highlights operational risks such as pandemic impacts, intense competition, customer dependency, and supply chain vulnerabilities - The business is exposed to risks from global public health pandemics like COVID-19, which can disrupt demand, manufacturing, and supply chains[189](index=189&type=chunk) - The company's five largest OEM customers accounted for approximately **23%** of sales in fiscal 2020, creating a dependency on their success and purchasing decisions[218](index=218&type=chunk) - The company depends on a limited number of suppliers, including a sole-source supplier (Miyaki Corporation for Kashima coating), which creates supply chain risk[243](index=243&type=chunk)[246](index=246&type=chunk) [Risks Related to Our Indebtedness and Liquidity](index=54&type=section&id=Risks%20Related%20to%20Our%20Indebtedness%20and%20Liquidity) Discusses financial risks associated with the company's debt, including operating restrictions and vulnerability to interest rate increases - The Credit Facility contains covenants that restrict activities such as paying dividends, incurring additional debt, and making acquisitions[252](index=252&type=chunk) - As of July 2, 2021, the company had **$388.5 million** of indebtedness, with a significant portion at a variable interest rate, exposing it to interest rate fluctuations[255](index=255&type=chunk)[259](index=259&type=chunk) [Risks Related to Laws and Regulations](index=55&type=section&id=Risks%20Related%20to%20Laws%20and%20Regulations) Covers risks from legal and regulatory compliance, including extensive safety, environmental, and tax laws across multiple jurisdictions - The company is subject to extensive U.S. and international safety, environmental, and other government regulations that may require significant expense to maintain compliance[262](index=262&type=chunk) - Changes in tax laws, particularly in the U.S., or interpretations of existing laws could increase tax obligations and adversely affect net income and cash flows[261](index=261&type=chunk) - Compliance with SEC rules on conflict minerals requires ongoing due diligence and expense, and failure to comply could lead to reputational damage[273](index=273&type=chunk) [Risks Related to Ownership of Our Common Stock](index=58&type=section&id=Risks%20Related%20to%20Ownership%20of%20Our%20Common%20Stock) Outlines risks for stockholders, including stock price volatility, potential dilution, and anti-takeover provisions - The trading price of the common stock may be volatile due to variations in operating results, analyst recommendations, and general market conditions[278](index=278&type=chunk) - Anti-takeover provisions, including a classified board and restrictions under Delaware law (Section 203), could discourage or prevent a change in control[285](index=285&type=chunk)[287](index=287&type=chunk) - The company's charter designates the Court of Chancery of the State of Delaware as the exclusive forum for certain stockholder lawsuits, potentially limiting favorable judicial forums for stockholders[288](index=288&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=61&type=section&id=Item%202%2E%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Reports on the repurchase of common stock during the quarter to satisfy tax-withholding obligations from restricted stock unit awards Issuer Purchases of Equity Securities (Q2 2021) | Period | Total Number of Shares Purchased | Weighted-average Price Paid per Share | | :--- | :--- | :--- | | 4/3 - 5/7 | 29,094 | $153.25 | | 5/8 - 6/4 | — | $ — | | 6/5 - 7/2 | 9,113 | $156.28 | | **Total** | **38,207** | **$153.97** | - All repurchased shares were acquired from holders of restricted stock unit awards to satisfy tax-withholding obligations[291](index=291&type=chunk) [Defaults Upon Senior Securities](index=61&type=section&id=Item%203%2E%20Defaults%20Upon%20Senior%20Securities) States that there were no defaults upon senior securities during the reporting period - None[292](index=292&type=chunk) [Mine Safety Disclosures](index=61&type=section&id=Item%204%2E%20Mine%20Safety%20Disclosures) Indicates that this item is not applicable to the company's operations - Not applicable[293](index=293&type=chunk) [Other Information](index=61&type=section&id=Item%205%2E%20Other%20Information) Reports no information for this item - None[294](index=294&type=chunk) [Exhibits](index=62&type=section&id=Item%206%2E%20Exhibits) Lists the exhibits filed with the Form 10-Q, including credit facility amendments and required certifications - Key exhibits filed with this report include the Second Amendment to the Amended and Restated Credit Facility and certifications from the CEO and CFO pursuant to Sarbanes-Oxley Sections 302 and 906[296](index=296&type=chunk)

Fox Factory Holding Corp. (NASDAQ:FOXF) Q1 2021 Earnings Conference Call May 6, 2021 4:30 PM ET Company Participants Vivek Bhakuni – Director of Investor Relations and Business Development Mike Dennison – Chief Executive Officer Scott Humphrey – Chief Financial Officer and Treasurer. Conference Call Participants Larry Solow – CJS Securities Rafe Jadrosich – Bank of America Mike Swartz – Truist Securities Jim Duffy – Stifel Scott Stember – CL King Anna Glaessgen – Jefferies Craig Kennison – Baird Operator Go ...

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 ...

Fox Factory Holding Corp. (NASDAQ:FOXF) Q3 2020 Results Earnings Conference Call November 10, 2020 4:30 PM ET Company Participants David Haugen - Vice President, General Counsel and Secretary Mike Dennison - Chief Executive Officer Scott Humphrey - Chief Financial Officer Conference Call Participants Jim Duffy - Stifel Lawrence Solow - CJS Securities Michael Swartz - SunTrust Scott Stember - CL. King Craig Kennison - Baird Alex Maroccia - Berenberg Capital Markets Ryan Sundby - William Blair Operator Greeti ...

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 ...