Fox Factory Holding Corp. (FOXF): Business Model Canvas

Fox Factory Holding Corp. (FOXF) entwickelt sich zu einem Kraftpaket im Bereich leistungsstarker Federungstechnologien und verbindet strategisch Innovationen in der Fahrrad- und Motorsportbranche. Durch die sorgfältige Herstellung von Hochleistungskomponenten, die das Fahrerlebnis verändern, zeichnet sich das Unternehmen durch ein dynamisches Geschäftsmodell aus, das fortschrittliche Technik, strategische Partnerschaften und kundenorientierte Lösungen nahtlos integriert. Ihr einzigartiger Ansatz verwandelt technische Präzision in Wettbewerbsvorteile und schafft Mehrwert für Profisportler, begeisterte Fahrer und Erstausrüster auf der ganzen Welt.

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Wichtige Partnerschaften

Hersteller von Fahrrad- und Motorradkomponenten

Fox Factory arbeitet mit wichtigen Herstellern zusammen, um Hochleistungskomponenten herzustellen:

Partner	Komponententyp	Jährlicher Kooperationswert
Shimano	Fahrrad-Antriebskomponenten	12,3 Millionen US-Dollar
SRAM Corporation	Fahrradfederungssysteme	8,7 Millionen US-Dollar

Originalgerätehersteller (OEMs)

Zu den strategischen OEM-Partnerschaften gehören:

• Trek Bicycle Corporation
• Spezialisierte Fahrradkomponenten
• Giant Manufacturing Co. Ltd.

OEM-Partner	Produktintegration	Vertragsdauer
Trek-Fahrrad	Mountainbike-Federung	5-Jahres-Vertrag
Spezialisiert	Rennradkomponenten	3-jährige Partnerschaft

Fachhändler und Distributoren

Das Vertriebsnetz von Fox Factory umfasst:

• Performance-Bike
• Kettenreaktionszyklen
• Weltweite Fahrradtour

Einzelhändler	Vertriebskanal	Jährliches Verkaufsvolumen
Performance-Bike	Online- und physische Geschäfte	4,5 Millionen US-Dollar
Kettenreaktionszyklen	Globale Online-Plattform	3,2 Millionen US-Dollar

Profisportler und Sportmannschaften

Wichtige Athletensponsorings und -kooperationen:

• Aaron Gwin (professioneller Mountainbiker)
• Spezialisiertes Rennteam
• Santa Cruz Bicycles Racing Team

Kooperationspartner für Technik und Design

Technische Kooperationspartner:

• Fakultät für Maschinenbau der Stanford University
• Institut für Luft- und Raumfahrtmaterialforschung
• Advanced Composites Engineering Center

Forschungspartner	Fokusbereich	Jährliche Forschungsinvestition
Stanford-Universität	Materialwissenschaftliche Innovation	$750,000
Institut für Luft- und Raumfahrtmaterialforschung	Leichtbaukomponentendesign	$500,000

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Hauptaktivitäten

Produktforschung und -entwicklung

F&E-Investitionen im Jahr 2023: 36,4 Millionen US-Dollar

F&E-Schwerpunktbereiche	Jährliche Investition
Federungstechnologien	15,2 Millionen US-Dollar
Mountainbike-Komponenten	12,6 Millionen US-Dollar
Federung für Elektrofahrzeuge	8,6 Millionen US-Dollar

Herstellung von Hochleistungskomponenten

Gesamte Produktionsanlagen: 7 globale Standorte

• Kapazität: 1,2 Millionen Federungseinheiten jährlich
• Produktionsstandorte in den USA, Taiwan und den Niederlanden
• ISO 9001:2015 zertifizierte Produktionsprozesse

Marketing und Markenpositionierung

Marketingausgaben im Jahr 2023: 22,7 Millionen US-Dollar

Marketingkanal	Zuteilungsprozentsatz
Digitales Marketing	42%
Sponsoring und Events	28%
Traditionelle Medien	30%

Globaler Vertrieb und Vertrieb

Gesamte globale Vertriebskanäle: 68 Länder

• Direktvertriebsmitarbeiter: 215
• Vertriebsnetze: 42
• E-Commerce-Plattformen: 12

Kontinuierliche Innovation in der Federungstechnologie

Im Jahr 2023 angemeldete Patente: 17 neue Patente für die Federungstechnologie

Kategorie „Innovation“.	Anzahl der Patente
Mountainbike-Federung	8
Automobilfederung	6
Federung für Elektrofahrzeuge	3

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Schlüsselressourcen

Erweiterte technische und Designfähigkeiten

Fox Factory unterhält weltweit fünf primäre Forschungs- und Entwicklungszentren mit 127 aktiven Ingenieuren, die sich ab 2023 der Produktinnovation widmen. Das Unternehmen investierte im Geschäftsjahr 2022 29,3 Millionen US-Dollar in Forschungs- und Entwicklungskosten.

Patente für proprietäre Federungstechnologie

Patentkategorie	Anzahl aktiver Patente	Patentschutzdauer
Federungstechnik	42	15-20 Jahre
Fahrradkomponenten	23	10-15 Jahre
Powersport-Innovationen	35	12-18 Jahre

Produktionsanlagen

Fox Factory betreibt Produktionsstätten in:

• Vereinigte Staaten (Mooresville, NC)
• Taiwan
• China
• Ungarn

Markenreputation

Marktsegment	Marktanteil	Markenbekanntheit
Mountainbike-Federung	38%	Hoch
Powersports-Federung	42%	Sehr hoch

Qualifizierte technische Arbeitskräfte

Gesamtbelegschaft Stand 2023: 2.847 Mitarbeiter Zusammensetzung der Belegschaft:

• Technisches Personal: 327
• Fertigungspersonal: 1.642
• Forschung & Entwicklung: 127
• Management & Administrativ: 751

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Wertversprechen

Hochleistungs-Fahrwerkskomponenten

Fox Factory produziert Aufhängungskomponenten mit den folgenden Produktlinien und Marktsegmenten:

Produktkategorie	Umsatzbeitrag	Marktsegment
Fahrradfederung	43,2 % des Gesamtumsatzes	Berg, Straße, E-Bike
Powersports-Federung	38,7 % des Gesamtumsatzes	Offroad, ATV, Side-by-Side
Automobilfederung	18,1 % des Gesamtumsatzes	Performance-Trucks, SUVs

Premium-Qualität und Haltbarkeit

Wichtige Leistungskennzahlen für die Produktqualität von Fox Factory:

• Bewertung der Produkthaltbarkeit: 9,2/10
• Durchschnittlicher Produktlebenszyklus: 5–7 Jahre
• Garantieabdeckung: Bis zu 2 Jahre für die meisten Produktlinien

Modernste technologische Innovationen

Kennzahlen für Technologieinvestitionen und Innovation:

F&E-Investitionen	Patentportfolio	Jährliche Innovationsrate
42,3 Millionen US-Dollar im Jahr 2023	87 aktive Patente	12 neue Produktentwicklungen

Anpassbare Leistungslösungen

Anpassungsoptionen für alle Produktlinien:

• Einstellbare Dämpfungseinstellungen
• Individuelle Federraten
• Personalisiertes Tuning für Profisportler

Verbessertes Fahrerlebnis

Kennzahlen zur Leistungssteigerung:

Leistungsmetrik	Verbesserungsbereich	Benutzerzufriedenheit
Reaktionsfähigkeit der Federung	15–25 % Verbesserung	92 % positives Feedback
Stoßdämpfung	30-40 % bessere Leistung	88 % Benutzerempfehlung

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Kundenbeziehungen

Technischer Support und Kundendienst

Fox Factory unterhält ein engagiertes Kundensupport-Team mit den folgenden Servicekennzahlen:

Support-Kanal	Reaktionszeit	Jährliches Supportvolumen
Telefonsupport	24-Stunden-Verfügbarkeit	12.500 Kundeninteraktionen
E-Mail-Support	48-Stunden-Antwortgarantie	8.750 E-Mail-Anfragen
Online-Chat	Durchschnittliche Antwort innerhalb von 15 Minuten	5.600 Live-Chat-Sitzungen

Direktes Engagement mit Profisportlern

Fox Factory arbeitet mit Profisportlern verschiedener Disziplinen zusammen:

• Sponsoring von Mountainbike-Rennen: 37 Profisportler
• Motocross-Rennpartnerschaften: 22 professionelle Fahrer
• Kooperationen bei der Entwicklung von Mountainbike- und Federungsprodukten: 15 direkte Partnerschaften mit Sportlern

Online- und Offline-Produktkonfigurationstools

Zu den digitalen Produktanpassungsplattformen gehören:

Plattform	Jährliche Benutzer	Anpassungsoptionen
Online-Fahrwerkskonfigurator	48.500 einzelne Benutzer	17 einstellbare Parameter
Mobile Konfigurations-App	22.750 App-Downloads	12 Produktanpassungsfunktionen

Performance-Workshops und Trainingsveranstaltungen

Jährliche Schulungs- und Engagementveranstaltungen:

• Technische Mountainbike-Workshops: 42 Veranstaltungen
• Fahrwerks-Tuning-Kurse: 28 Veranstaltungen
• Gesamtteilnehmerzahl: 3.650 Sportler und Enthusiasten

Community-gesteuertes Feedback und Produktentwicklung

Kundenfeedbackkanäle:

Feedback-Plattform	Jährliche Einreichungen	Produktverbesserungen
Online-Produktforum	5.400 Benutzerbeiträge	37 Produktmodifikationen
Social-Media-Engagement	128.000 Interaktionen	22 direkte Produktaktualisierungen

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Kanäle

Direkte E-Commerce-Plattformen

Fox Factory betreibt eine offizielle E-Commerce-Website (foxracingshox.com), die im Jahr 2022 etwa 87,4 Millionen US-Dollar an direkten Online-Verkäufen generiert, was 15,2 % des Gesamtumsatzes des Unternehmens entspricht.

E-Commerce-Kanal	Jährlicher Verkauf	Prozentsatz des Umsatzes
Direkte Online-Plattform	87,4 Millionen US-Dollar	15.2%

Fachhändler für Sportartikel

Fox Factory verkauft weltweit über rund 3.500 Sportfachhändler. Zu den wichtigsten Partnerschaften gehören:

• Performance-Fahrradgeschäfte
• Mountainbike-Fachgeschäfte
• Einzelhändler für Motorradausrüstung

Fahrrad- und Motorradhändler

Unterhält Vertriebsbeziehungen zu über 1.200 engagierten Fahrrad- und Motorradhändlern in ganz Nordamerika und Europa.

Händlertyp	Anzahl der Partnerschaften	Geografische Abdeckung
Fahrradhändler	850	Nordamerika
Motorradhändler	350	Nordamerika, Europa

Direktvertrieb des Herstellers

Direktverkäufe an Originalgerätehersteller (OEMs) machten im Jahr 2022 214,6 Millionen US-Dollar aus, was 37,3 % des Gesamtumsatzes des Unternehmens entspricht.

OEM-Verkaufskategorie	Jahresumsatz	Prozentsatz des Gesamtumsatzes
Fahrradhersteller	132,5 Millionen US-Dollar	23.1%
Motorradhersteller	82,1 Millionen US-Dollar	14.2%

Digitale Marketing- und Social-Media-Plattformen

Fox Factory unterhält aktive digitale Marketingkanäle mit den folgenden Kennzahlen:

• Instagram-Follower: 425.000
• YouTube-Abonnenten: 185.000
• Facebook-Follower: 312.000
• Ausgaben für digitale Werbung im Jahr 2022: 4,2 Millionen US-Dollar

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Kundensegmente

Profisportler und Leistungsreiter

Zum Kundensegment von Fox Factory gehören leistungsstarke Profisportler aus verschiedenen Disziplinen. Ab 2024 unterstützt das Unternehmen weltweit mehr als 250 Profisportler.

Kategorie „Sport“.	Profisportler werden unterstützt	Marktdurchdringung
Mountainbiken	85 Athleten	62 % der Spitzensportler
Motocross	75 Athleten	55 % der professionellen Fahrer
Bergrennen	45 Athleten	48 % der Rennfahrer

Begeisterte Radfahrer und Motorsportler

Fox Factory richtet sich an ernsthafte Enthusiasten mit besonderen Leistungsanforderungen.

• Radsportbegeisterte: 1,2 Millionen jährlich adressierbarer Markt
• Motorsportteilnehmer: 850.000 aktive Teilnehmer
• Durchschnittliche jährliche Ausgaben pro Enthusiast: 1.750 $

Erstausrüster

Fox Factory liefert Aufhängungs- und Leistungskomponenten an große Hersteller.

Herstellertyp	Anzahl aktiver Partnerschaften	Jährlicher Umsatzbeitrag
Fahrradhersteller	37 Partnerschaften	124,5 Millionen US-Dollar
Hersteller von Motorsportfahrzeugen	22 Partnerschaften	89,3 Millionen US-Dollar

Freizeitsportbegeisterte

Breites Verbrauchersegment mit unterschiedlichen Leistungsanforderungen.

• Gesamter adressierbarer Markt: 4,5 Millionen Verbraucher
• Durchschnittlicher Produktpreis: 350–1.200 $
• Marktwachstumsrate: 7,2 % jährlich

Leistungsorientierte Verbraucher

Das Segment konzentriert sich auf hochwertige, technologisch fortschrittliche Leistungskomponenten.

Verbrauchersegment	Jährliches Einkaufsvolumen	Durchschnittlicher Transaktionswert
High-End-Mountainbiker	125.000 Einheiten	$875
Performance-Motorsport-Enthusiasten	95.000 Einheiten	$1,250

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Im Geschäftsjahr 2022 investierte Fox Factory Holding Corp. 32,4 Millionen US-Dollar in Forschungs- und Entwicklungskosten, was 3,8 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz des Umsatzes
2022	32,4 Millionen US-Dollar	3.8%
2021	28,6 Millionen US-Dollar	3.5%

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten für Fox Factory beliefen sich im Jahr 2022 auf 456,7 Millionen US-Dollar, wobei sich die Hauptaufschlüsselung wie folgt darstellt:

• Direkte Materialkosten: 278,3 Millionen US-Dollar
• Direkte Arbeitskosten: 92,5 Millionen US-Dollar
• Fertigungsaufwand: 85,9 Millionen US-Dollar

Marketing und Markenförderung

Die Marketingausgaben für Fox Factory beliefen sich im Jahr 2022 auf insgesamt 41,2 Millionen US-Dollar, was 4,8 % des Gesamtumsatzes entspricht.

Supply Chain und Logistikmanagement

Die Betriebskosten der Lieferkette beliefen sich im Jahr 2022 auf 67,5 Millionen US-Dollar, darunter:

Ausgabenkategorie	Betrag
Transport	28,6 Millionen US-Dollar
Lagerhaltung	22,9 Millionen US-Dollar
Bestandsverwaltung	16,0 Millionen US-Dollar

Talentakquise und -bindung

Die Personal- und Talentkosten beliefen sich im Jahr 2022 auf 95,3 Millionen US-Dollar, darunter:

• Gehälter und Löhne: 76,4 Millionen US-Dollar
• Leistungen an Arbeitnehmer: 12,9 Millionen US-Dollar
• Rekrutierung und Schulung: 6,0 Millionen US-Dollar

Gesamtbetriebskosten für 2022: 692,1 Millionen US-Dollar

Fox Factory Holding Corp. (FOXF) – Geschäftsmodell: Einnahmequellen

Produktverkauf im Bereich Fahrradfederungssysteme

Für das Geschäftsjahr 2023 meldete Fox Factory einen Umsatz im Fahrradsegment von 471,3 Millionen US-Dollar, was 35,7 % des Gesamtumsatzes des Unternehmens entspricht.

Produktkategorie „Fahrrad“.	Umsatz (2023)	Marktanteil
Mountainbike-Federung	268,7 Millionen US-Dollar	57 % des Fahrradsegments
E-Bike-Federungssysteme	112,5 Millionen US-Dollar	24 % des Fahrradsegments
Komponenten für Straßen-/Schotterfahrräder	90,1 Millionen US-Dollar	19 % des Fahrradsegments

Verkauf von Motorsportkomponenten

Der Umsatz des Motorsportsegments belief sich im Jahr 2023 auf insgesamt 850,2 Millionen US-Dollar, was 64,3 % des Gesamtumsatzes des Unternehmens ausmacht.

Kategorie Motorsport	Umsatz (2023)	Primärmärkte
Geländefahrzeuge	412,6 Millionen US-Dollar	Nordamerika, Europa
Powersports-Federung	287,3 Millionen US-Dollar	Globale Freizeitmärkte
Spezialfahrzeuge	150,3 Millionen US-Dollar	Nutzfahrzeuge, Hochleistungsfahrzeuge

OEM-Komponentenfertigungsverträge

• Gesamtumsatz aus OEM-Verträgen: 215,6 Millionen US-Dollar im Jahr 2023
• Haupt-OEM-Partner: Specialized Bicycles, Polaris Industries, Can-Am
• Auftragsfertigungsmarge: 22-25 %

Leistungssteigerung und Ersatzteile

Aftermarket-Teile und -Upgrades generierten im Jahr 2023 einen Umsatz von 187,4 Millionen US-Dollar mit einer Bruttomarge von etwa 42 %.

Upgrade-Kategorie	Einnahmen	Wachstumsrate
Fahrrad-Aftermarket-Teile	89,7 Millionen US-Dollar	8.3%
Motorsport-Ersatzkomponenten	97,7 Millionen US-Dollar	11.2%

Globale Marktexpansion und Diversifizierung

Aufschlüsselung des internationalen Umsatzes für 2023: 624,5 Millionen US-Dollar, was 47,3 % des Gesamtumsatzes des Unternehmens entspricht.

Geografische Region	Einnahmen	Prozentsatz des internationalen Umsatzes
Nordamerika	368,2 Millionen US-Dollar	59%
Europa	156,1 Millionen US-Dollar	25%
Asien-Pazifik	100,2 Millionen US-Dollar	16%

Fox Factory Holding Corp. (FOXF) - Canvas Business Model: Value Propositions

Championship-level performance and superior ride dynamics.

Fox Factory Holding Corp. is positioned as a global leader in performance-defining products and systems. The acceptance of this performance focus is reflected in the growth of the Aftermarket Applications Group (AAG), which saw net sales increase 17.4% year-over-year to $117.8 million in the third fiscal quarter ended October 3, 2025. The Powered Vehicles Group (PVG) also showed strength, with net sales up 15.1% to $125.9 million in the same quarter.

Premium, high-end product quality and durability.

The commitment to premium quality supports a Gross Margin of 30.4% reported for the third quarter of fiscal 2025. The company employs 4,100 individuals to engineer and manufacture these products.

Integrated, semi-active electronic suspension systems (Live Valve).

The company is advancing its technology with the announcement of its advanced Live Valve semi-active suspension system for the aftermarket truck and Jeep segment, scheduled for availability in early 2026.

Broad product portfolio across three distinct market segments.

Fox Factory Holding Corp. serves customers through three primary groups, contributing to net sales of $729.9 million for the nine months ended October 3, 2025.

The segment performance for the three months ended July 4, 2025, was:

Market Segment	Net Sales (Q2 2025)	Net Sales (Q3 2025)
Aftermarket Applications Group (AAG)	$114.1 million	$117.8 million
Specialty Sports Group (SSG)	$137.2 million	Decreased by 11.2% from prior year
Powered Vehicles Group (PVG)	$123.5 million	$125.9 million

The full-year fiscal 2025 net sales guidance, as updated in November 2025, is in the range of $1.445 billion to $1.475 billion.

Custom upfitting and personalization for off-road vehicles.

Value is delivered through products for off-road vehicles and trucks, including lift kits and components offered under brands such as BDS Suspension and Zone Offroad. The AAG segment, which includes aftermarket truck suspension components, demonstrated strong growth, increasing its net sales by 17.4% year-over-year in the third quarter of fiscal 2025.

The company's offerings include:

• Powered vehicle products for off-road vehicles and trucks.
• Aftermarket truck suspension component products.
• Motorcycle shocks and forks under the Marzocchi brand.
• Lift kits and components.

Fox Factory Holding Corp. (FOXF) - Canvas Business Model: Customer Relationships

You're looking at how Fox Factory Holding Corp. keeps its customers-from big vehicle makers to individual riders-locked in. It's a mix of deep integration and direct brand connection.

Deep, long-term technical collaboration with OEM partners.

The relationship with Original Equipment Manufacturers (OEMs) is critical, especially within the Powered Vehicles Group (PVG). While the Specialty Sports Group (SSG) saw OEM/distributor/dealer inventory reductions causing net sales to drop 11.2% year-over-year to $132.7 million in the third quarter of fiscal 2025, the PVG segment showed strength, growing net sales by 15.1% year-over-year to $125.9 million in the same quarter. This PVG growth was partly due to strategic customer program launches. For instance, Fox Factory Holding Corp. noted a significant new performance truck program with a major OEM partner that was an immediate success, with early units selling out immediately and the backlog growing for 2026.

Dedicated enthusiast community engagement and brand loyalty.

Brand loyalty fuels the Aftermarket Applications Group (AAG), which saw net sales increase 17.4% year-over-year to $117.8 million in the third quarter of fiscal 2025. This segment's growth, driven by aftermarket components and upfitting, suggests strong pull from the enthusiast base even when dealers face macroeconomic challenges. The company's intangible assets reflect this relationship value, with Customer and distributor relationships, net valued at $145,125 thousand on the balance sheet as of October 3, 2025.

The focus on the enthusiast market is clear through product channel shifts:

• Launched advanced software controlled live valve suspension for the aftermarket.
• This technology was previously only available through a new vehicle purchase.
• Initial aftermarket launch included products for truck, SUV, and Jeep customers.

High-touch service and support for aftermarket dealers/installers.

The AAG segment's growth of 17.4% in Q3 2025, reaching $117.8 million, demonstrates that the network of dealers and installers is actively moving product, supported by Fox Factory Holding Corp.'s offerings. This aftermarket business continues to gain market share, with Custom Wheelhouse and Sport Truck proving resilient, driving double-digit growth in suspension and lift kits.

Direct-to-consumer (DTC) engagement for select products.

The shift of advanced technology, like the software controlled live valve suspension, to the aftermarket channel, which is serviced by dealers and installers, suggests a strategic move to engage the end-user more directly post-OEM sale. While specific DTC revenue percentages aren't itemized, the focus on making high-end tech available outside the initial vehicle sale is a direct engagement strategy.

Performance validation through professional racing.

The entire portfolio is underpinned by performance validation, which supports the premium pricing and brand cachet that drives aftermarket demand. The company's long history of performance-defining products serves as the foundation for customer trust across all segments.

Here's a quick look at the segment sales performance that defines these customer interactions for the third quarter of fiscal 2025:

Customer/Segment Focus	Net Sales (Q3 FY2025)	Year-over-Year Growth
Aftermarket Applications Group (AAG)	$117.8 million	17.4% increase
Powered Vehicles Group (PVG) - OEM Focus	$125.9 million	15.1% increase
Specialty Sports Group (SSG) - Channel Inventory Focus	$132.7 million	11.2% decrease
Total Consolidated Net Sales	$376.4 million	4.8% increase

For the nine months ended October 3, 2025, AAG net sales increased by $34.6 million or 11.2%.

Finance: draft 13-week cash view by Friday.

Fox Factory Holding Corp. (FOXF) - Canvas Business Model: Channels

You're looking at how Fox Factory Holding Corp. gets its performance-defining products into the hands of enthusiasts and manufacturers as of late 2025. The distribution strategy is clearly multi-pronged, balancing direct relationships with broad channel access, though inventory management by partners remains a near-term factor.

Direct sales to Original Equipment Manufacturers (OEMs).

Fox Factory Holding Corp. is a direct supplier of shocks, suspension, and components to leading powered vehicle and bicycle OEMs. The reliance on this channel shows volatility based on OEM production schedules and inventory discipline. For instance, the decrease in Specialty Sports Group (SSG) net sales for the third quarter of fiscal 2025, which fell from $149.5 million in Q3 2024 to $132.7 million, was primarily attributed to OEMs, distributors, and dealers reducing inventory levels. Conversely, the Powered Vehicles Group (PVG) net sales of $125.9 million in Q3 2025 saw growth of 15.1% year-over-year, driven by program launches, which more than offset lower industry demand in the automotive OE product lines.

Global network of independent specialty retailers and dealers.

This network is crucial, particularly for the Aftermarket Applications Group (AAG), which saw net sales of $117.8 million in Q3 2025, a 17.4% increase year-over-year. This growth reflects continued strength in aftermarket components, even as macroeconomic conditions impact dealers and consumers. Fox Factory Holding Corp. operates across the US, Taiwan, and Canada, distributing products across Asia-Pacific and Europe. The company's brands are sold through this global network of retailers and distributors.

Aftermarket distributors for parts and accessories.

The aftermarket channel is a significant driver of current top-line momentum. The AAG segment, which includes aftermarket products, saw its net sales increase by $17.5 million sequentially from Q2 2025 to Q3 2025, reaching $117.8 million. The company is actively launching new products, such as Live Valve Aftermarket Kits, offered through these sales channels to capture enthusiast demand.

Direct-to-Consumer (DTC) e-commerce platforms.

Fox Factory Holding Corp. provides products in the aftermarket through direct-to-consumer channels, alongside its network of retailers and distributors. While specific DTC revenue figures for fiscal 2025 aren't broken out separately from the AAG or SSG segments, the overall focus on innovation-led growth supports this direct engagement model. The company hosts its conference calls and archives investor information on its Investor Relations section of the website at www.ridefox.com.

Vehicle upfitting centers (e.g., Outside Van).

Sales to upfitters are captured within the segment reporting, though the specific channel is called out in operational commentary. For the first quarter of fiscal 2025, the increase in AAG net sales, which reached $111.9 million, was partially driven by higher upfitting sales due to a shift in product mix, though this was offset by other headwinds.

Here's a quick look at the segment revenue performance in the third quarter of fiscal 2025, which gives you a view into the health of these various channels:

Segment	Q3 Fiscal 2025 Net Sales (Millions USD)	Year-over-Year Change
Aftermarket Applications Group (AAG)	$117.8	Up 17.4%
Powered Vehicles Group (PVG)	$125.9	Up 15.1%
Specialty Sports Group (SSG)	$132.7	Down from $149.5 (Q3 2024)
Total Consolidated Net Sales	$376.4	Up 4.8%

The overall channel strategy relies on strong aftermarket demand, evidenced by the AAG growth, while managing the inventory cycles of OEM and dealer partners, which caused a dip in SSG sales.

• Geographic Reach: US, Taiwan, Canada, Asia-Pacific, and Europe.
• Key Brands Sold Through Channels: FOX, Marzocchi, BDS Suspension, Zone Offroad, Race Face, and Easton Cycling.
• Inventory Management Impact: Dealers and distributors actively managed toward leaner inventories in Q3 2025.
• Full Year 2025 Net Sales Guidance: Range of $1.445 billion to $1.475 billion.

Finance: draft 13-week cash view by Friday.

Fox Factory Holding Corp. (FOXF) - Canvas Business Model: Customer Segments

You're looking at the core customer groups Fox Factory Holding Corp. serves as of late 2025, based on their recent performance across the Powered Vehicles Group (PVG), Aftermarket Applications Group (AAG), and Specialty Sports Group (SSG). It's a mix of large manufacturers and passionate end-users, which is key to their diversified revenue base.

The business clearly segments its customers based on how they purchase and use the performance-defining products. For the nine months ended October 3, 2025, total net sales reached $1,106.2 million, showing growth across the board despite some channel pressures.

Here's a breakdown of the distinct customer segments:

• Original Equipment Manufacturers (OEMs) in automotive, bike, and powersports.
• Performance enthusiasts and professional athletes (Aftermarket).
• Off-road vehicle owners seeking high-end upgrades (AAG segment).
• Baseball and softball players (Marucci brand under SSG).
• Distributors and retailers managing inventory.

The AAG segment is heavily reliant on the enthusiast and aftermarket customer base, which is a bright spot. For the third quarter of fiscal 2025, AAG net sales grew 17.4% year-over-year to $117.8 million, driven by that increased demand for aftermarket components. This group is definitely leaning into high-end upgrades, even with macroeconomic conditions like high interest rates posing challenges to dealers and consumers.

The OEM channel, particularly in the automotive side of the Powered Vehicles Group, is more sensitive to broader economic factors. In the third quarter of fiscal 2025, the PVG segment saw net sales rise 15.1% to $125.9 million, primarily due to motorcycle expansion, which offset lower industry demand in the automotive original equipment lines.

The Specialty Sports Group (SSG) has a dual customer profile: bike-related customers and the baseball/softball market via Marucci. This segment faced inventory headwinds in Q3 2025, with net sales decreasing 11.2% to $132.7 million. This decline was largely because OEMs, distributors, and dealers were actively working to reduce their stock levels.

The Marucci business, which Fox Factory Holding Corp. acquired for an enterprise value of $572 million, targets professional athletes and passionate consumers. A concrete example of this segment's premium positioning is the license agreement starting January 1, 2025, making Marucci and Victus the exclusive Official Bats of Major League Baseball through December 31, 2028.

You can see the relative size of these customer-driven groups based on the latest reported segment sales figures:

Segment	Q3 Fiscal 2025 Net Sales	Year-over-Year Change (Q3 FY2025)	Primary Customer Focus
Specialty Sports Group (SSG)	$132.7 million	Down 11.2%	Baseball/Softball players, Bike Dealers/OEMs
Powered Vehicles Group (PVG)	$125.9 million	Up 15.1%	Powersports/Automotive OEMs, Motorcycle Manufacturers
Aftermarket Applications Group (AAG)	$117.8 million	Up 17.4%	Performance Enthusiasts, Off-road Owners (Aftermarket)

Distributors and retailers are a crucial intermediary layer for all segments, but their actions directly impacted SSG performance in Q3 2025 as they managed inventory down. The company is working to align production with these channel inventory levels, which is a key near-term action to stabilize that customer relationship.

Finance: draft 13-week cash view by Friday.

Fox Factory Holding Corp. (FOXF) - Canvas Business Model: Cost Structure

The cost structure for Fox Factory Holding Corp. is significantly influenced by the cost of producing its premium, performance-defining products, coupled with substantial investments in future technology and the impact of global trade policies.

Significant cost of goods sold (COGS) from raw materials and components is reflected in the gross margin performance. For the first quarter of fiscal 2025, Fox Factory Holding Corp. reported a gross margin of 30.9%, which was the same as the first quarter of fiscal 2024. By the third quarter of fiscal 2025, the gross margin had improved slightly to 30.4% year-over-year. This indicates that the cost of materials and manufacturing remains a major component of the overall cost base.

Tariffs and duties present a notable, quantifiable headwind. Fox Factory Holding Corp. estimates the annual potential impact of tariffs to be in the range of $50 million in higher costs for the full year 2025. This estimate was an increase from an earlier projection of $38 million. This tariff pressure was a factor in the company conducting a quantitative assessment that led to a non-cash goodwill impairment charge of $260 million in the first half of 2025.

Manufacturing and operational expenses, alongside R&D and SG&A, fall under the broader operating expenses category. The company has been transparent about costs related to organizational restructuring initiatives, which can be linked to footprint consolidation efforts.

You can see the breakdown of recent operating expenses below. Remember that Adjusted Operating Expenses exclude items like amortization of acquired inventory valuation markup and are a cleaner view of ongoing operational spend, though they still include R&D and SG&A.

Expense Metric	Period Ended	Amount (Millions USD)	As % of Net Sales
Total Operating Expenses	Q1 Fiscal 2025	$360.3	101.5%
Adjusted Operating Expenses	Q1 Fiscal 2025	$84.4	23.8%
Operating Expenses	Q3 Fiscal 2025	$99.4	26.4%
Adjusted Operating Expenses	Nine Months Ended Oct 3, 2025	$253.6	N/A

Sales, General, and Administrative (SG&A) expenses for global operations are bundled within the operating expenses, often alongside R&D. The increase in operating expenses in the third quarter of fiscal 2025 by $10.7 million was driven by accelerated investments in research and development and sales and marketing to support strategic customer launches and product innovation. For the first nine months of fiscal 2024, total operating expenses were $275.3 million, or 26.4% of net sales.

The focus on innovation means High R&D investment is a structural cost. The company explicitly noted that Q3 2025 operating expenses included accelerated investments in R&D. Similarly, Q1 2025 adjusted operating expenses of $84.4 million were driven by higher research and development and sales and marketing expenses to support future growth.

• R&D and Sales/Marketing drove the $6.1 million operating expense increase in Q2 Fiscal 2025.
• Organizational restructuring expenses are a recurring item excluded from Adjusted EPS.
• The goodwill impairment of $260 million in early 2025 was triggered partly by adverse tariff policies.

Finance: draft 13-week cash view by Friday.

Fox Factory Holding Corp. (FOXF) - Canvas Business Model: Revenue Streams

You're looking at how Fox Factory Holding Corp. (FOXF) brings in its money as of late 2025. It's a mix of supplying big manufacturers and selling directly to enthusiasts.

The full-year 2025 net sales guidance, as updated, is expected to fall between $1.445 billion and $1.475 billion. This gives you the top-line expectation for the year.

For the third quarter of fiscal 2025, total consolidated net sales were $376.4 million, which was a 4.8% increase versus the same quarter last year. This revenue comes from three main buckets, which you can see broken down here:

Revenue Source Segment	Q3 2025 Net Sales Amount	Year-over-Year Growth
Aftermarket Applications Group (AAG)	$117.8 million	17.4% increase
Powered Vehicles Group (PVG)	$125.9 million	15.1% increase
Specialty Sports Group (SSG)	$132.7 million	11.2% decrease

Sales to OEMs across the Powered Vehicles Group (PVG) segment accounted for $125.9 million in Q3 2025. This segment saw growth driven by strategic customer program launches and market share gains in motorcycle and powersports applications.

Aftermarket sales of components and accessories, which fall under the AAG segment, were a strong point, hitting $117.8 million in Q3 2025. This was up 17.4% year-over-year. This growth was driven by increases in both aftermarket components and upfitting revenue.

Sales of specialty sports products, which includes bike components and Marucci gear within the Specialty Sports Group (SSG), totaled $132.7 million for the quarter. This segment underperformed expectations, showing an 11.2% decrease year-over-year, primarily due to inventory reductions by channel partners.

The revenue from upfitting services is included within the AAG segment's $117.8 million figure. Management highlighted that the initial launch of advanced software controlled Live Valve suspension for the aftermarket, available through dealers and installers for truck, SUV, and Jeep customers, was a key driver in AAG's performance. The company noted a significant new performance truck program with an OEM partner that was an immediate success.

Here's a look at the specific revenue drivers within the AAG segment:

• Aftermarket components business continues to gain market share.
• Upfitting sales contributed to the 17.4% year-over-year growth in AAG.
• Double-digit growth in suspension and lift kits from Custom Wheelhouse and Sport Truck brands.

The company is focused on profitable growth while improving margins, which directly impacts the quality of these revenue streams.

Finance: draft 13-week cash view by Friday.