The CEO departure combined with a significant guidance cut signals deeper operational issues than previously disclosed. Watch for the full Q3 earnings release on November 5, 2026 for complete financials and any restructuring details. The permanent CEO search timeline and the company's ability to stabilize Powered Vehicles Group supply chain and Aftermarket Applications Group margins will be key catalysts.
Price Chart
Executive Summary
Fox Factory announced CEO Mike Dennison is stepping down, replaced by interim CEO Doug Grimm, and pre-announced preliminary Q3 fiscal 2026 results well below prior guidance. Net sales are expected at $336M-$340M vs guidance of $355M-$380M, and adjusted EBITDA of $38M-$42M (excluding ~$12M tariff refunds) vs guidance of $46M-$54M. Full-year fiscal 2026 guidance was lowered to $1.35B-$1.38B in net sales (from $1.42B-$1.47B) and $140M-$150M adjusted EBITDA (from $176M-$196M), reflecting the Marucci Sports divestiture, supply disruptions, and operational challenges.
Key Financial Metrics
Key Facts
- CEO Mike Dennison stepped down effective October 15, 2026; board appointed independent director Doug Grimm as Interim CEO
- Preliminary Q3 fiscal 2026 net sales of $336M-$340M, below prior guidance of $355M-$380M
- Preliminary Q3 adjusted EBITDA of $38M-$42M (excluding ~$12M IEEPA tariff refunds), below guidance of $46M-$54M
- Fiscal 2026 net sales guidance lowered to $1.35B-$1.38B from $1.42B-$1.47B; adjusted EBITDA guidance lowered to $140M-$150M from $176M-$196M
- Q4 fiscal 2026 outlook: net sales $287M-$313M, adjusted EBITDA $23M-$29M, both excluding Marucci Sports
- Weakness driven by lower Marucci sales/margins, Powered Vehicles Group supply disruption, Aftermarket Applications Group operational challenges, and softer bike demand
- Interim CEO Grimm receives $1.065M base salary, $600K completion bonus, and $2M initial RSU award with potential for up to $1.6M additional RSUs
Financial Impact
Q3 net sales ~$336-340M (vs $355-380M guidance); FY2026 net sales guidance cut by ~$70-90M to $1.35-1.38B; FY2026 adjusted EBITDA guidance cut by ~$36-46M to $140-150M
Risk Factors
- Continued supply disruptions in Powered Vehicles Group could further pressure near-term revenue and margins
- Operational challenges in Aftermarket Applications Group upfit business may persist, weighing on segment profitability
- Permanent CEO search creates leadership uncertainty; interim CEO's mandate is limited to transformation execution
- Aluminum, steel, and freight cost inflation may continue to compress margins if not offset by pricing actions
- Marucci Sports divestiture reduces revenue base by ~$63M in FY2026, with no replacement growth driver yet visible
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001424929-26-000061 |
| Exhibit: exhibit991pressreleasedate.htm | 0001424929-26-000061 |
| Document: foxf-20261015.htm | 0001424929-26-000061 |
| Document: 0001424929-26-000061-index-headers.html | 0001424929-26-000061 |
| Document: 0001424929-26-000061-index.html | 0001424929-26-000061 |
| Document: 0001424929-26-000061.txt | 0001424929-26-000061 |
| 8-K Data (Synthetic) | 0001424929-26-000061 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | 8-K | $14.79 $14.73 | ▲ +0.41% | ▲ +0.26% | $14.73 (+0.41%) |
Sep 25, 2026 4w ago | 8-K | $18.74 $19.23 | ▲ +2.61% | ▲ +1.41% | $14.73 (−21.40%) |
Mar 25, 2026 30w ago | DEFA14A | $18.21 $16.77 | ▼ −7.91% | ▼ −9.54% | $14.73 (−19.11%) |
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