Foxx Development Holdings Inc.

Foxx Development Holdings Inc. reported a significant net loss of $(36.27) million for the three months ended March 31, 2026, and $(43.42) million for the nine months, largely due to a $25.86 million impairment of right-of-use assets. The company also disclosed a working capital deficit of approximately $(24.9) million and raised substantial doubt about its ability to continue as a going concern. Revenues declined to $8.67 million for the quarter and $45.61 million for the nine months.

Foxx Development Holdings Inc. announced it has regained compliance with Nasdaq Listing Rule 5550(b)(2) regarding the minimum market value of listed securities (MVLS). The company was previously notified on November 5, 2025, for failing to maintain an MVLS of $35,000,000. Nasdaq confirmed compliance after Foxx Development maintained an MVLS of $35,000,000 or greater for 15 consecutive business days from March 31, 2026, to April 21, 2026, closing the related listing matter.