Mobix Labs Achieves 44% Sequential Revenue Growth in Fiscal Q’4 2024

Rhea-AI Summary

Mobix Labs Inc. (Nasdaq: MOBX) has announced preliminary results for its fiscal Q4 and year ended September 30, 2024. The company expects Q4 revenue to exceed $2.9 million, representing a 44% sequential increase, primarily driven by defense application products. For fiscal 2024, Mobix Labs projects annual revenue of over $6.4 million, a 426% increase compared to fiscal 2023.

The company attributes its growth to its acquisition strategy, particularly highlighting the contribution from its recent acquisition of RaGE Systems. Mobix Labs became a public company and completed multiple acquisitions during the fiscal year, expanding its portfolio of innovative products and diversifying customer demand. The full fiscal Q4 earnings results, including the Annual Report on Form 10-K, are expected to be released in December 2024.

Positive

• Q4 revenue expected to exceed $2.9 million, a 44% sequential increase
• Annual revenue for fiscal 2024 projected at over $6.4 million, up 426% year-over-year
• Successful acquisition strategy driving revenue growth and customer demand
• Became a public company and completed multiple acquisitions in fiscal 2024

Negative

• None.

Insights

Financial Analyst

The preliminary Q4 results for Mobix Labs (NASDAQ: MOBX) show significant growth, with revenue expected to exceed $2.9 million, representing a 44% sequential increase. This growth is primarily attributed to defense application products, highlighting the company's strong position in the security solutions market.

Key financial highlights include:

• Annual revenue of over $6.4 million for fiscal 2024
• 426% year-over-year revenue growth compared to fiscal 2023
• Successful integration of acquisitions, particularly RaGE Systems, contributing to revenue growth

The company's acquisition strategy appears to be paying off, diversifying its product portfolio and expanding its customer base. However, it's important to note that these are preliminary, unaudited results. Investors should await the full earnings report and Form 10-K for a comprehensive financial picture, including profitability metrics and cash flow details.

Given the impressive growth rates and successful execution of the acquisition strategy, this news appears positive for Mobix Labs. However, the relatively small market cap of $28.4 million suggests the company is still in a growth phase, which may come with higher risks and volatility.

Tech Expert

Mobix Labs' strong revenue growth in Q4 is particularly noteworthy in the context of its focus on advanced connectivity solutions. The 44% sequential growth, driven by defense application products, indicates a robust demand for secure, mission-critical communications systems.

Key technological implications:

• Growing importance of robust communication systems in defense applications
• Successful integration of RaGE Systems' technology into Mobix Labs' portfolio
• Potential for cross-pollination of technologies across acquired companies

The company's ability to leverage acquisitions for rapid growth suggests a well-executed tech integration strategy. This could lead to accelerated innovation and a stronger competitive position in the advanced connectivity market.

However, investors should monitor how Mobix Labs manages the challenges of rapid growth, including maintaining product quality, integrating diverse tech stacks and scaling operations efficiently. The upcoming full earnings report will be important in assessing the company's ability to translate this impressive top-line growth into sustainable technological leadership and market expansion.

Annual revenue of more than $6.4 million increases 426% compared to fiscal 2023

Acquisition strategy continues to fuel increasing customer demand

IRVINE, Calif.--(BUSINESS WIRE)-- Mobix Labs Inc. (Nasdaq: MOBX) (“Mobix Labs”), a leader in advanced connectivity solutions, today announced selected preliminary results for its fiscal fourth quarter and year ended September 30, 2024.

Based on preliminary unaudited information, Mobix Labs expects that its revenue for the quarter ending September 30, 2024 will exceed $2.9 million, an increase of more than 44 percent sequentially, driven by defense application products.

“We are pleased with our quarterly revenue growth, particularly the contributions from our recent acquisition of RaGE Systems,” said Keyvan Samini, President and Chief Financial Officer of Mobix Labs. “Our expected 44% sequential revenue growth was largely driven from products that enhance security solutions, specifically in systems requiring robust, mission-critical communications.”

“This has been a transformative year for Mobix Labs,” said Fabian Battaglia, Chief Executive Officer of Mobix Labs. “We became a public company, completed multiple acquisitions and we’ve grown our fiscal 2024 revenue an impressive 426% compared to fiscal 2023. These preliminary results confirm that our acquisition strategy is working and continuing to grow and diversify customer demand for our expanding portfolio of innovative products.”

Mobix Labs expects to release full fiscal fourth quarter earnings results, including its Annual Report on Form 10-K, in December 2024.

About Mobix Labs, Inc.

At Mobix Labs, we’re committed to transforming connectivity by partnering closely with our customers to deliver advanced semiconductor and wireless systems solutions tailored to their needs. Based in Irvine, California, we specialize in four key areas; EMI Interconnect Solutions for secure aerospace and GPS systems, Active Optical Cables (AOC) for high-speed AI datacenter interconnects, 5G IC Solutions for mmWave communications, and Wireless Systems Solutions, including joint design and manufacturing services for RF technologies, serving customers in 5G, radar, and imaging sensors. Through deep collaboration and innovation, we’re shaping the future of connectivity. Visit mobixlabs.com and follow us on LinkedIn.

Mobix Labs and the logo, are among the trademarks of Mobix Labs. Other trademarks are the property of their respective owners.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Mobix Labs’ expected results for the quarter and year end and expected operating performance, are forward-looking statements. The preliminary financial and operating results presented herein are an estimate and subject to the completion of Mobix Labs’ financial closing and other procedures and finalization of Mobix Labs’ consolidated financial statements for its quarter and year ended September 30, 2024, including the completion of the audit of Mobix Labs’ financial statements. Accordingly, actual financial and operating results that will be reflected in Mobix Labs’ Annual Report on Form 10-K for the year ended September 30, 2024, including its audited financial statements, when they are completed and publicly disclosed may differ from these preliminary results. In addition, any statements regarding Mobix Labs’ estimated financial performance for the fourth fiscal quarter 2024 do not present all information necessary for an understanding of Mobix Labs’ financial condition and results of operations as of and for the quarterly period ended September 30, 2024. Although Mobix Labs believes that the expectations reflected in the forward-looking statements are reasonable, Mobix Labs cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Mobix Labs may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include the risk that the price of Mobix Labs’ securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which it operates, variations in performance across competitors, changes in laws, regulations, technologies, the global supply chain, and macro-economic and social environments affecting our business; Mobix Labs’ ability to regain compliance and maintain its listing of securities on Nasdaq; the risks concerning Mobix Labs’ ability to continue as a going concern; the inability to meet future capital requirements and risks related to Mobix Labs’ ability to raise additional capital including potential dilution to its stockholders; the risk that Mobix Labs is unable to successfully commercialize its products and solutions, or experience significant delays in doing so; the risk that Mobix Labs may not be able to generate income from operations in the foreseeable future; the risk that Mobix Labs experiences difficulties in managing its growth and expanding operations; the risk that Mobix Labs may not be able to consummate planned strategic acquisitions, or fully realize anticipated benefits or capture synergies from past or future acquisitions or investments; the risk that Mobix Labs may be unable to successfully defend itself in ongoing litigation or that additional actions may be commenced against Mobix Labs; the risk that Mobix Labs’ patent applications may not be approved or may take longer than expected, and Mobix Labs may incur substantial costs in enforcing and protecting its intellectual property; the risk of being an early stage company and that Mobix Labs’ limited operating history may make it difficult to evaluate its future prospects and the risks and challenges that Mobix Labs may encounter; the risk that Mobix Labs cannot predict whether it will maintain revenue growth; the risk that the markets for Mobix Labs’ products and solutions are highly competitive; the risk that future sales of Mobix Labs’ Class A Common Stock may cause the market price of its Class A Common Stock to drop significantly, even if its business is doing well; and inflation and unfavorable global economic conditions could adversely affect Mobix Labs’ business. In addition, these forward-looking statements and the information in this press release are qualified in their entirety by cautionary statements and risk factor disclosures contained in Mobix Labs’ Securities and Exchange Commission (“SEC”) filings, including the prospectus filed on August 29, 2024, its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and any subsequent SEC filings. All forward-looking statements in this press release are based on information available to Mobix Labs on the date hereof, and Mobix Labs assumes no obligation to update such statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241015541352/en/

Media Contact:

Jeff Fox, The Blueshirt Group

jeff@blueshirtgroup.com

Investor Contact:

Lori Barker, The Blueshirt Group

lori@blueshirtgroup.com

Source: Mobix Labs, Inc.

FAQ

What was Mobix Labs' (MOBX) revenue growth in Q4 2024?

Mobix Labs expects Q4 2024 revenue to exceed $2.9 million, representing a 44% sequential increase compared to the previous quarter.

How much did Mobix Labs' (MOBX) annual revenue grow in fiscal 2024?

Mobix Labs projects annual revenue of over $6.4 million for fiscal 2024, representing a 426% increase compared to fiscal 2023.

What factors contributed to Mobix Labs' (MOBX) revenue growth in fiscal 2024?

Mobix Labs' revenue growth was driven by its acquisition strategy, including the recent acquisition of RaGE Systems, and increased demand for defense application products.

When will Mobix Labs (MOBX) release its full fiscal Q4 2024 earnings results?

Mobix Labs expects to release its full fiscal Q4 2024 earnings results, including the Annual Report on Form 10-K, in December 2024.