Fox Factory experienced a catastrophic financial collapse with net income swinging from $6.5M profit to a $544.6M loss while operating cash flow fell 54%.
This represents a fundamental breakdown in the company's operations, with massive losses indicating potential goodwill impairments, restructuring charges, or major operational failures. The simultaneous collapse in profitability, cash generation, and balance sheet strength suggests serious financial distress that requires immediate investor attention.
Fox Factory's financials deteriorated across all major metrics, with net income plummeting over 8,400% into deep losses and operating income falling over 1,000% to negative territory. Operating cash flow declined 54% to $60.9M while total assets shrank 25% to $1.7B, indicating potential asset write-downs or impairments. The only modest positive was reduced capital expenditures, but this likely reflects financial constraints rather than strategic planning, painting an overall picture of severe financial distress.
Net income declined 8414.2% — review whether driven by operations, interest costs, or non-recurring items.
Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.
Operating cash flow fell 53.8% — earnings quality concerns; investigate working capital changes and non-cash items.
Total assets contracted 25.1% — asset sales, write-downs, or balance sheet optimization underway.
Capex reduced 22.9% — investment cycle winding down or capital discipline; may improve near-term free cash flow.
Cash decreased 19.1% — monitor burn rate and upcoming capital needs.
R&D investment increased 15.1% — signals commitment to future product development, though near-term margin impact.
Receivables grew 15% — monitor days sales outstanding for collection efficiency.
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