Fox Factory names interim CEO and cuts 2026 revenue and EBITDA forecasts
Fox Factory Holding Corp announced that CEO Mike Dennison is stepping down and independent director Doug Grimm will serve as interim CEO. The company reported preliminary third‑quarter fiscal 2026 net sales of $336 million to $340 million, below its guidance of $355 million to $380 million, and adjusted EBITDA of $38 million to $42 million, also below guidance. It lowered its full‑year 2026 revenue outlook to $1.35 billion‑$1.38 billion from $1.42 billion‑$1.47 billion and its adjusted EBITDA target to $140 million‑$150 million from $176 million‑$196 million. Shares fell sharply after the announcement.
Why it matters
The reduced revenue and profit guidance signals lower earnings potential for 2026, prompting a steep decline in the stock price. The leadership change adds uncertainty about execution of the turnaround plan.
Key facts
- 1Mike Dennison stepped down as CEO and board member. stocktitan.net
- 2Independent director Douglas Grimm was appointed interim CEO. stocktitan.net
- 3Preliminary Q3 fiscal 2026 net sales are expected to be $336 million to $340 million, versus guidance of $355 million to $380 million. stocktitan.net
- 4Preliminary Q3 adjusted EBITDA is projected at $38 million to $42 million, versus guidance of $46 million to $54 million. stocktitan.net
- 5Full‑year 2026 revenue guidance was revised to $1.35 billion to $1.38 billion, down from $1.42 billion to $1.47 billion. investing.com
- 6Full‑year 2026 adjusted EBITDA guidance was lowered to $140 million to $150 million, down from $176 million to $196 million. en.brujulabike.com
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.