FOXFNasdaqMotorcycles, Bicycles & PartsUS GAAP · USD

Fox Factory Holding Corp

Fox Factory Holding Corp. designs, engineers, manufactures and markets premium performance products and systems used on bicycles, side-by-sides, trucks, ATVs, snowmobiles, motorcycles and specialty vehicles. It sells through OEM programs, a large aftermarket dealer/distributor network, and direct-to-consumer channels, and also offers baseball and softball gear under its specialty sports business.

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Revenue1,467m USD
+5.3 %y/y
Operating profit (EBIT)-523m USD
−1,006.8 %y/y
EBIT margin-35.6%
−39.8 ppy/y
Net income-545m USD
−8,414.2 %y/y
Free cash flow27.0m USD
−69.3 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

-1,000-50005001,0001,5002,000m USD2021: 342 m USD2021: EBIT 43 m USD20212022: 1,602 m USD2022: EBIT 247 m USD20222023: 1,464 m USD2023: EBIT 160 m USD20232024: 1,394 m USD2024: EBIT 58 m USD20242025: 1,394 m USD2025: EBIT 58 m USD20252026: 1,467 m USD2026: EBIT -523 m USD20261,467-523
RevenueOperating profit (EBIT)
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Business

Share of revenue
Powered Vehicles44 %

Suspension and performance products for side-by-sides, on-road/off-road vehicles, ATVs, snowmobiles, motorcycles and specialty vehicles.

Aftermarket Applications49 %

Dealer- and distributor-sold products for trucks and off-road platforms, including shocks, lift kits and accessory packages.

Specialty Sports Products7 %

Bike suspension and components plus baseball and softball gear and equipment.

Products

Reported · share of revenue
34.7%33.3%32.0%FY2026100 %
  • Specialty Sports Group34.7 %
  • Powered Vehicles33.3 %
  • Aftermarket Applications Group32.0 %

Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Fox sells to OEMs that integrate its products into performance models, and to dealers and distributors that resell into the aftermarket. It also serves direct consumers in selected channels and sports customers for its specialty gear business. Demand depends heavily on OEM model cycles, dealer inventory health, and end-market trends in bikes and powersports.

OEM customers

Vehicle manufacturers buy Fox components for performance models to improve marketability and demand.

Aftermarket dealers and distributors

Retail dealers and distributors buy products for resale, especially truck and off-road upgrades.

Direct-to-consumer

End customers buy selected premium products directly, supporting brand reach and margin mix.

Specialty sports customers

Cycling and baseball/softball customers buy suspension, components and gear tied to the specialty sports portfolio.

Strategy

Fox is focused on expanding premium performance products into new vehicle categories and end markets while protecting its brand and technical differentiation. Management is also emphasizing operating and supply chain efficiency, including manufacturing diversification, capacity expansion and cost optimization. Growth in aftermarket penetration and selective international expansion are key levers to offset cyclicality in OEM demand and bike market recovery.

Expand aftermarket distribution and product breadthShort term

The aftermarket channel is a major revenue base and can reduce dependence on OEM model cycles.

Diversify manufacturing and improve supply chain resilienceMedium term

A broader manufacturing footprint helps manage capacity, tariffs and disruption risk.

Leverage brand and technology into new categoriesMedium term

Premium positioning and engineering capability support entry into adjacent markets.

Geography

Q2/2026

Fox describes itself as a global business with customers worldwide, and it relies on a broad dealer/distributor network across international markets. The company moved headquarters to Georgia and expanded manufacturing capacity in Gainesville, Georgia to support its powered vehicles business and improve supply chain efficiency. It also holds some cash outside the U.S., reflecting international operations and repatriation considerations.

North America79 %
Europe13 %
Asia8.6 %

Share of the revenue the company reports by geography.

Risks

Fox is exposed to cyclical demand in discretionary vehicle and bike markets, and its results depend on OEM model launches, dealer inventory health and consumer spending. The business also faces supply chain, tariff and geopolitical risks because it sources materials and components globally and relies on a limited number of suppliers for some inputs. Goodwill impairment, customer concentration and competitive pressure are additional material risks given the premium, innovation-driven nature of the portfolio.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Customer concentration1Tariffs and trade policy2Supply chain disruption3Demand cyclicality in discretionary end markets5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Customer concentrationImpact: HighLikelihood: Medium

    A relatively small number of OEM and dealer customers account for a meaningful share of sales, so lost programs can quickly affect revenue.

    Exposure: Ford represented about 15% of 2024 net sales

  2. Tariffs and trade policyImpact: HighLikelihood: Medium

    Steel, aluminum and imported components are exposed to changing U.S. tariff regimes, which can increase costs and pressure pricing.

    ExposureImports from ChinaHong KongMexicoCanada
  3. Supply chain disruptionImpact: HighLikelihood: Medium

    Dependence on limited suppliers for materials, parts and chassis can interrupt production and raise costs.

  4. Goodwill impairmentImpact: High

    Management uses discounted cash flow and market multiples to test reporting units, and weaker growth or higher discount rates could trigger charges.

  5. Demand cyclicality in discretionary end marketsImpact: MediumLikelihood: Medium

    Bikes, powersports and premium vehicle upgrades are discretionary purchases and are sensitive to macro conditions.

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Accounting

Judgemental items
Revenue recognition timing

Most sales are point-in-time, but custom upfit packages can be over-time, which affects quarterly comparability.

Impact: Quarterly revenue mix and margin timing

Sales rebates and returns accruals

Management estimates discounts, rebates and returns based on historical trends and future expectations.

Impact: Net sales and gross margin

Goodwill and intangible impairment

Reporting unit valuations use discounted cash flow and market multiples; weaker assumptions can create large charges.

Impact: Operating income and balance sheet carrying values

Inventory and warranty estimates

The company must estimate excess inventory, obsolescence and warranty obligations in a cyclical product business.

Impact: Cost of sales and operating expenses

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Last updated: 24/09/2026

Fox Factory Holding Corp (FOXF) Revenue, Earnings & Financials 2025 – Clarifo