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Mobix Labs (Nasdaq: MOBX), a fabless semiconductor company specializing in next-gen connectivity solutions across various sectors such as wired, wireless 5G, military, defense, aerospace, and medical, will participate in the 24th Annual B. Riley Securities Institutional Investor Conference. The event is scheduled for May 22, 2024, at the Beverly Hills Hilton in California. CEO Fabian Battaglia will conduct one-on-one meetings with investors throughout the day. Interested parties can contact the conference organizers or email the investor contact provided.
Mobix Labs (Nasdaq: MOBX) announced its financial results for Q2 2024, showcasing a 302% revenue increase to $1.1 million from the previous quarter's $0.29 million. The company reported a GAAP loss from operations of $8.56 million, down from $17.27 million in Q1 2024. Notably, Mobix Labs entered a definitive agreement to acquire RaGE Systems, aiming to diversify its product portfolio and expand into new markets. Additional highlights include a global distribution agreement with Arrow Electronics and the launch of the MBX3110 SP10T high-power RF switch. The company secured a $100 million equity line of credit and expects Q3 2024 revenues between $1.8-$2.2 million, and Q4 2024 revenues between $2.6-$3.2 million.
Mobix Labs, Inc. (Nasdaq: MOBX) announced the acquisition of RaGE Systems Inc., specializing in 5G communications. The deal is set to boost Mobix Labs' revenue and earnings, accelerating advancements in wireless communication. The acquisition will enhance capabilities in RF and mmWave integrated circuits and systems, reducing development time and expanding market presence. The transaction includes $2 million in cash, $10 million in stock, and potential earn-out payments up to $8 million.
Mobix Labs, Inc. (Nasdaq: MOBX) has entered into a global distribution agreement with Arrow Electronics, focusing on EMI Filtering products for defense and aerospace markets. This partnership will leverage Arrow's distribution platform, enhancing Mobix Labs' visibility to potential customers. The agreement aims to cater to military and aerospace applications with high-quality EMI Filtering solutions that comply with industry standards. Mobix Labs is already supplying EMI filtered parts for the U.S. Navy and Army programs, positioning itself for growth in these sectors.
Mobix Labs, Inc. (Nasdaq: MOBX) introduced the MBX3110 SP10T high-power RF switch, designed for the land mobile radio market. The switch enhances connectivity for critical communications, including first responders and military personnel, with improved coverage and reliability. The global RF switch market is expected to grow significantly, showcasing Mobix Labs' innovation and expansion into lucrative markets.
