secwatch.observer — SEC 8-K summary
======================================

Issuer:     FOX FACTORY HOLDING CORP (FOXF)
CIK:        0001424929
Form:       8-K
Filed at:   2022-05-06T23:59:59+00:00
Accession:  0001424929-22-000070
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fox Factory Q1 sales up 34% to record $378M; GAAP EPS $1.13, adj. EPS $1.32; guides FY22 sales $1.5-1.53B
--------------------------------------------------------------------------------

- Record quarterly sales of $378.0M (+34.4% YoY); GAAP diluted EPS $1.13 vs $0.90; non-GAAP adj. diluted EPS $1.32 vs $1.05.
- Gross margin contracted 300bps to 31.8%; non-GAAP adj. gross margin 32.3% (down 270bps) due to supply chain costs and Watsonville-to-Gainesville transition.
- Specialty Sports Group sales +43.5%; Powered Vehicles Group +27.9%, driven by strong OEM/aftermarket demand and upfitting product lines.
- Q2 FY2022 guidance: sales $385M-$405M, non-GAAP adj. EPS $1.10-$1.25. Full-year FY2022 guidance: sales $1,500M-$1,530M, non-GAAP adj. EPS $5.00-$5.30.
- Adjusted EBITDA $71.8M (19.0% margin) vs $60.4M (21.5% margin); effective tax rate fell to 4.8% from 9.5% due to release of valuation allowance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1424929/000142492922000070/0001424929-22-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1424929/000142492922000070/foxf-20220505.htm
  HTML page:      https://secwatch.observer/filing/0001424929-22-000070

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer