Fox Factory Holding Corp. (NASDAQ:FOXF) Q1 2024 Earnings Call Transcript May 4, 2024
Fox Factory Holding Corp. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to Fox Factory Holding Corporation’s First Quarter Fiscal 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. Please note this conference is being recorded. And now at this time, I would like to turn things over to Toby Merchant, Chief Legal Officer at Fox Factory Holding Corporation. Please go ahead, sir.
Toby Merchant: Thank you. Good afternoon and welcome to Fox Factory’s first quarter 2024 earnings conference call. I’m joined today by Mike Dennison, Chief Executive Officer, and Dennis Schemm, Chief Financial Officer and Treasurer. First, Mike will provide business updates and then Dennis will review the quarterly results and outlook. Mike will then provide some closing remarks before we open up the call for your questions. By now, everyone should have access to the earnings release which went out earlier this afternoon. If you have not had a chance to review the release, it’s available on the investor relations portion of our website at investor.ridefox.com. Please note that throughout this call, we will refer to Fox Factory as Fox or the Company.
Before we begin, I would like to remind everyone that the prepared remarks contain forward-looking statements within the meaning of federal security laws, and management may make additional forward-looking statements in response to your questions. Such statements involve a number of known and unknown risks and uncertainties, many of which are outside the Company’s control and can cause future results, performance or achievements to differ materially from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors and risks that could cause or contribute to such differences are detailed in the Company’s quarterly reports on Form 10-Q and in the company’s latest annual report on Form 10-K, each filed with the Securities and Exchange Commission.
Investors should not place undue reliance on the Company’s forward-looking statements and except as required by law the Company undertakes no obligation to update any forward-looking statements or other statements herein, whether as a result of new information, future events or otherwise. In addition, where appropriate, in today’s prepared remarks and within our earnings release, we will refer to certain non-GAAP financial measures to evaluate our business, including adjusted gross profit, adjusted gross margin, adjusted operating expenses, adjusted net income, adjusted earnings per diluted share, adjusted EBITDA and adjusted EBITDA margin, as we believe these are useful metrics that allow investors to better understand and evaluate the company’s core operating performance and trends.
Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are included in today’s earnings release, which has also been posted on our website. And with that, it is my pleasure to turn the call over to our CEO, Mike Dennison.
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