Mobix Labs Announces Third Quarter 2024 Financial Results
Mobix Labs (Nasdaq: MOBX) reported Q3 2024 financial results, showcasing an 80% sequential revenue growth to $2.1 million. The company completed the acquisition of RaGE Systems and announced plans to acquire J-Mark Connectors Inc., expanding its market presence in high-reliability sectors. Despite the growth, Mobix Labs reported a GAAP loss from operations of $9.3 million.
Key highlights include:
- Gross margin expansion
- Successful acquisition strategy
- Increasing customer demand
- Private placement with $4 million gross proceeds
- Launch of new EMI filtered connectors for defense and aerospace
- Strategic partnership with TalkingHeads Wireless for 5G base stations
Mobix Labs (Nasdaq: MOBX) ha riportato i risultati finanziari del Q3 2024, mostrando una crescita del fatturato sequenziale dell'80% fino a $2,1 milioni. L'azienda ha completato l'acquisizione di RaGE Systems e ha annunciato piani per acquisire J-Mark Connectors Inc., espandendo la propria presenza di mercato nei settori ad alta affidabilità. Nonostante la crescita, Mobix Labs ha riportato una perdita GAAP dalle operazioni di $9,3 milioni.
I punti salienti includono:
- Espansione del margine lordo
- Strategia di acquisizione di successo
- Aumento della domanda dei clienti
- Placement privato con proventi lordi di $4 milioni
- Lancio di nuovi connettori filtrati EMI per difesa e aerospazio
- Partnership strategica con TalkingHeads Wireless per stazioni base 5G
Mobix Labs (Nasdaq: MOBX) reportó los resultados financieros del Q3 2024, destacando un crecimiento secuencial de ingresos del 80% hasta $2.1 millones. La compañía completó la adquisición de RaGE Systems y anunció planes para adquirir J-Mark Connectors Inc., ampliando su presencia en el mercado de sectores de alta fiabilidad. A pesar del crecimiento, Mobix Labs reportó una pérdida GAAP de operaciones de $9.3 millones.
Los aspectos destacados incluyen:
- Expansión del margen bruto
- Estrategia de adquisición exitosa
- Aumento de la demanda de los clientes
- Colocación privada con ingresos brutos de $4 millones
- Lanzamiento de nuevos conectores filtrados EMI para defensa y aeroespacial
- Asociación estratégica con TalkingHeads Wireless para estaciones base 5G
Mobix Labs (Nasdaq: MOBX)는 2024년 3분기 재무 결과를 보고하며 80%의 연속 매출 성장을 기록하여 210만 달러에 도달했습니다. 회사는 RaGE Systems의 인수 작업을 완료했으며, J-Mark Connectors Inc.를 인수할 계획을 발표하여 고신뢰성 분야에서의 시장 존재감을 확대하고 있습니다. 성장에도 불구하고 Mobix Labs는 운영 기준 GAAP 손실이 930만 달러라고 보고했습니다.
주요 하이라이트는 다음과 같습니다:
- 총 마진 확장
- 성공적인 인수 전략
- 증가하는 고객 수요
- 400만 달러의 총 수익이 발생한 사모 배치
- 국방 및 항공 우주 용 새로운 EMI 필터링 커넥터 출시
- 5G 기지국을 위한 TalkingHeads Wireless와의 전략적 파트너십
Mobix Labs (Nasdaq: MOBX) a publié ses résultats financiers du T3 2024, affichant une croissance séquentielle de revenus de 80% atteignant 2,1 millions de dollars. L'entreprise a achevé l'acquisition de RaGE Systems et a annoncé des plans pour acquérir J-Mark Connectors Inc., élargissant ainsi sa présence sur le marché dans des secteurs à haute fiabilité. Malgré cette croissance, Mobix Labs a déclaré une perte GAAP d'exploitation de 9,3 millions de dollars.
Les points clés incluent:
- Expansion de la marge brute
- Stratégie d'acquisition réussie
- Demande croissante des clients
- Placement privé avec des produits bruts de 4 millions de dollars
- Lancement de nouveaux connecteurs filtrés EMI pour la défense et l'aérospatiale
- Partenariat stratégique avec TalkingHeads Wireless pour les stations de base 5G
Mobix Labs (Nasdaq: MOBX) hat die finanziellen Ergebnisse des Q3 2024 veröffentlicht und ein sequentielles Umsatzwachstum von 80% auf 2,1 Millionen Dollar gezeigt. Das Unternehmen hat die Akquisition von RaGE Systems abgeschlossen und Pläne zur Übernahme von J-Mark Connectors Inc. angekündigt, um seine Marktpräsenz in Hochzuverlässigkeitssektoren auszubauen. Trotz des Wachstums berichtete Mobix Labs von einem GAAP-Verlust aus dem operativen Geschäft von 9,3 Millionen Dollar.
Die wichtigsten Highlights sind:
- Erweiterung der Bruttomarge
- Erfolgreiche Akquisitionsstrategie
- Steigende Kundennachfrage
- Private Platzierung mit einem Bruttoertrag von 4 Millionen Dollar
- Einführung neuer EMI-gefilterter Verbinder für Verteidigungs- und Luftfahrt
- Strategische Partnerschaft mit TalkingHeads Wireless für 5G-Basisstationen
- Revenue increased 80% sequentially to $2.1 million in Q3 2024
- Gross margin expansion reported
- Completed acquisition of RaGE Systems, expanding market presence
- Announced intent to acquire J-Mark Connectors Inc., potentially boosting gross margins
- Issued private placement with gross proceeds of $4 million
- Selected as supplier for Navy's Standard Missile-6 program
- Received BAE Systems 'Partner 2 Win' Gold Tier Award
- GAAP loss from operations increased to $9.3 million in Q3 2024, up from $8.6 million in Q2 2024
- Non-GAAP adjusted loss from operations remained at $4.1 million
Mobix Labs' Q3 2024 results show promising growth, with revenue up
The acquisition of RaGE Systems and planned acquisition of J-Mark Connectors Inc. demonstrate a strategic focus on expanding market presence, particularly in high-reliability sectors like aerospace and defense. These moves could potentially boost gross margins and diversify revenue streams.
While the
Mobix Labs' focus on advanced connectivity solutions positions it well in the evolving 5G and high-reliability markets. The partnership with TalkingHeads Wireless to develop cost-effective, energy-efficient 5G base stations leverages AI technology, potentially giving Mobix a competitive edge in the 5G infrastructure space.
The company's expansion into EMI filtered connectors for defense and aerospace applications showcases its ability to address specialized market needs. Being selected as a supplier for the Navy's Standard Missile-6 program and receiving a BAE Systems award further validates the quality and reliability of Mobix's products in mission-critical applications.
However, investors should note that while these developments are promising, the company's financial performance still shows significant losses. The success of Mobix Labs will depend on its ability to capitalize on these opportunities and translate them into sustainable revenue growth and profitability.
Revenue up
Acquisition strategy successfully expanding end markets and diversifying offerings
Increasing Customer Demand
“We are pleased with the June quarter’s results, closing the acquisition of RaGE Systems and our growing pipeline of synergistic M&A opportunities for extending our tech portfolio and end markets,” said Fabian Battaglia, CEO of Mobix Labs. “Quickly increasing customer demand and exciting requests for proposals are expanding the pipeline and proving that customers with high-reliability needs want to do business with Mobix.”
“We were pleased with our sequential revenue growth of
Financial Highlights for Third Quarter of 2024
-
Revenue: Total revenue grew to
in the third quarter of 2024, an$2.1 million 80% increase from in the second quarter of 2024.$1.1 million -
Loss from Operations: GAAP loss from operations for the quarter was
, compared to a loss of$9.3 million for the second quarter of 2024. On a non-GAAP basis, adjusted loss from operations for the quarter was$8.6 million compared to a loss of$4.1 million for the second quarter of 2024.$4.1 million
Recent Business Highlights
- Completed the acquisition of RaGE Systems, a leader in radio frequency and mmWave design and manufacturing services. Another key milestone for growth and affirmation of Mobix Labs’ strong global acquisition strategy.
- Announced the intent to acquire J-Mark Connectors Inc. This acquisition is expected to enhance Mobix Labs’ sales strategy and boost gross margins, particularly in the high-demand military, aerospace, and defense sectors. The addition of J-Mark’s expertise is expected to strengthen Mobix Labs' position, elevate market presence, enhance customer access, and secure major accounts in the aerospace and defense industries.
-
Issued private placement of pre-funded warrants with gross proceeds of
, before payment of fees and expenses.$4 million - Participated at the Leidos Supplier Innovation & Technology Symposium to highlight technologies designed and manufactured for various high-reliability markets, including wireless infrastructure, security transport, military, aerospace, and medical applications. Key technology showcased at the event was the Mobix Labs’ SMART Edge Device product line.
- Introduced a new family of filtered D-sub connectors designed to eliminate unwanted electromagnetic interference (EMI) in defense, aerospace, medical, and commercial applications. These connectors feature robust construction and superior EMI filtering capabilities, ensuring optimal performance and reliability in the most demanding environments.
- Launched latest EMI filtered connectors for defense and aerospace applications. These versatile connectors can be customized with planar arrays, ceramic Pi Tubes, or chip capacitors to meet demanding military specifications, ensuring optimal cost, quality and performance.
- Announced a strategic partnership with TalkingHeads Wireless (THW) to develop a new generation of cost-effective, energy-efficient 5G base stations. THW’s 5G radio solution uses AI technology to optimize tower energy consumption, while Mobix Labs’ broad portfolio of products including ICs, antennas, and active optical cables and transceivers delivers significant advantages in performance, efficiency, cost and size for 5G base stations.
-
In collaboration with the
U.S. defense sector, Mobix Labs was selected as a supplier of connectors to be used in the Navy’s Standard Missile-6 program and has completed its initial product delivery. - Mobix Labs electromagnetic filtering products received a BAE Systems ‘Partner 2 Win’ Gold Tier Award. Mobix Labs was selected from many suppliers that delivered exceptional performance and contributions to supply chain success for BAE Systems’ Electronic Systems sector in 2023.
Non-GAAP Financial Measures
In addition to reporting financial results in accordance with
- Adjusted Gross Profit, which is defined as GAAP Gross Profit excluding amortization of acquisition-related intangible assets, inventory write-offs and stock-based compensation expense;
- Adjusted Loss from Operations, which is defined as GAAP Loss from Operations excluding depreciation, amortization of acquisition-related intangible assets, merger and acquisition-related expenses, inventory write-offs and stock-based compensation expense.
The Company’s management believes it is useful to consider these non-GAAP financial measures, together with the corresponding GAAP financial measures, as they provide more transparency into current business trends, exclusive of the effects of certain non-cash expenses, acquisition-related charges, and items that may not be present in comparative fiscal periods. Management believes that, when considered together with reported GAAP financial measures, these non-GAAP financial measures are useful to investors and management in understanding the Company’s ongoing operations and operating trends and in analyzing the Company’s underlying financial performance.
These non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or superior to, the comparable GAAP measures. These non-GAAP financial measures may be different from similarly titled measures used by other companies. In the future, Mobix may consider whether other items should also be excluded in calculating the non-GAAP financial measures it uses. Management believes that the presentation of these non-GAAP financial measures provides investors with additional useful information to measure Mobix Labs’ financial and operating performance. In particular, these measures facilitate comparison of our operating performance between periods and may help investors to understand better our operating results. Internally, management uses these non-GAAP financial measures in assessing the Company's operating results and in planning and forecasting. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measure is contained in the financial tables to this press release.
Financial Outlook
Consolidated revenues are expected to fall within a range of
Conference Call Information
Event: |
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Mobix Labs, Inc. Third Quarter 2024 Earnings Call |
Date: |
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Wednesday, August 21, 2024 |
Time: |
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2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time |
Webcast: |
|
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Dial-in number: |
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https://register.vevent.com/register/BI89bf294de932451980c72a782d621ccf |
Shortly after the completion of the conference call, an archived version of the webcast will be available on the Company’s investor relations website at investors.mobixlabs.com.
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
Mobix Labs, the logo, and SMART™ Edge Device are among the trademarks of Mobix Labs. Other trademarks are the property of their respective owners.
Note Regarding Customer Pipeline Statistic
“Customer pipeline” reflects estimated potential future business based on interest expressed by potential customers for qualified programs, stated in terms of estimated revenue that may be realized in one or more future periods. All customer pipeline information constitutes forward-looking statements. Customer pipeline is not a proxy for backlog or an estimate of future revenue, nor should it be considered as any other measure or indicator of financial performance. Rather, Mobix Labs uses customer pipeline as a statistical metric to indicate the company’s current view of relative changes in future potential business across various end markets. Time horizons vary accordingly, based on product type and application. Actual business realized depends on ultimate customer selection, program share, strategic decisions based on expected revenue, margin and other factors discussed below under “Forward-Looking Information.”
Forward-looking Information
This press release and the related earnings call contain “forward-looking statements” regarding the intent, beliefs or current expectations of the Company for purposes of the federal securities laws. These forward-looking statements include, but are not limited to, statements regarding Mobix Labs, Inc. and Mobix Labs, Inc.’s management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would,” “poised” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this presentation and discussion may include, for example, statements about (i) our expectations regarding customer demand and requests for proposals as well as our ability to expand our customer base and product offerings; (ii) our financial outlook, including expectations regarding revenue growth, adjusted gross margin and adjusted operating margin; (iii) our ability to secure additional financing and any strategic initiatives, specifically with respect to synergistic product acquisitions; (iv) our expectations regarding our intent to acquire J-Mark Connectors Inc. and any other possible acquisitions; (v) our expectations regarding future market conditions and the growth of the market, including our expectations regarding the serviceable addressable market; (vi) any future product enhancements or developments as well as customer reception of our products; (vii) our ability to secure additional orders, including in connection with the
As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include (i) the risk that the price of our securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which we operate, variations in performance across competitors, changes in laws, regulations, technologies, the global supply chain, and macro-economic and social environments affecting our business; (ii) our ability to regain compliance and maintain our listing of securities on Nasdaq; (iii) the risks concerning our ability to continue as a going concern; (iv) the inability to meet future capital requirements and risks related to our ability to raise additional capital including potential dilution to our stockholders; (v) the risk that we are unable to successfully commercialize our products and solutions, or experience significant delays in doing so; (vi) the risk that we may not be able to generate income from operations in the foreseeable future; (vii) the risk that we experience difficulties in managing our growth and expanding operations; (viii) the risk that we may not be able to consummate planned strategic acquisitions, or fully realize anticipated benefits or capture synergies from past or future acquisitions or investments; (ix) the risk that we may be unable to successfully defend ourselves in ongoing litigation or that additional actions may be commenced against us; (x) the risk that our patent applications may not be approved or may take longer than expected, and we may incur substantial costs in enforcing and protecting our intellectual property; (xi) the risk of being an early stage company and that our limited operating history may make it difficult to evaluate our future prospects and the risks and challenges that we may encounter; (xii) the risk that we cannot predict whether we will maintain revenue growth; (xiii) the risk that the markets for our semiconductor products and solutions are highly competitive; (xiv) the risk that future sales of our Class A Common Stock may cause the market price of our Class A Common Stock to drop significantly, even if our business is doing well; and (xv) inflation and unfavorable global economic conditions could adversely affect our business.
Mobix Labs, Inc. | ||||||||||||||||
Condensed Consolidated Statements of Operations and Comprehensive Loss | ||||||||||||||||
(unaudited, in thousands, except share and per share amounts) | ||||||||||||||||
Three months ended June 30, | Nine months ended June 30, | |||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
Net revenue | $ |
2,058 |
|
$ |
80 |
|
$ |
3,488 |
|
$ |
791 |
|
||||
Costs and expenses | ||||||||||||||||
Cost of revenue |
|
1,327 |
|
|
285 |
|
|
2,608 |
|
|
1,188 |
|
||||
Research and development |
|
1,369 |
|
|
3,159 |
|
|
4,328 |
|
|
9,209 |
|
||||
Selling, general and administrative |
|
8,710 |
|
|
6,375 |
|
|
31,731 |
|
|
21,198 |
|
||||
Loss from operations |
|
(9,348 |
) |
|
(9,739 |
) |
|
(35,179 |
) |
|
(30,804 |
) |
||||
Interest expense |
|
127 |
|
|
309 |
|
|
1,232 |
|
|
1,186 |
|
||||
Change in fair value of earnout liability |
|
(661 |
) |
|
- |
|
|
(30,599 |
) |
|
- |
|
||||
Change in fair value of PIPE make-whole liability |
|
310 |
|
|
- |
|
|
(122 |
) |
|
- |
|
||||
Change in fair value of private warrants |
|
(68 |
) |
|
- |
|
|
412 |
|
|
- |
|
||||
Change in fair value of SAFEs |
|
- |
|
|
(30 |
) |
|
10 |
|
|
528 |
|
||||
Merger-related transaction costs expensed |
|
- |
|
|
- |
|
|
4,009 |
|
|
- |
|
||||
Other non-operating losses, net |
|
128 |
|
|
- |
|
|
1,177 |
|
|
- |
|
||||
Loss before income taxes |
|
(9,184 |
) |
|
(10,018 |
) |
|
(11,298 |
) |
|
(32,518 |
) |
||||
Provision (benefit) for income taxes |
|
(1,505 |
) |
|
(14 |
) |
|
(2,801 |
) |
|
18 |
|
||||
Net loss and comprehensive loss |
|
(7,679 |
) |
|
(10,004 |
) |
|
(8,497 |
) |
|
(32,536 |
) |
||||
Deemed dividend |
|
- |
|
|
- |
|
|
661 |
|
|
- |
|
||||
Net loss available to common stockholders | $ |
(7,679 |
) |
$ |
(10,004 |
) |
$ |
(9,158 |
) |
$ |
(32,536 |
) |
||||
Net loss per common share: | ||||||||||||||||
Basic | $ |
(0.25 |
) |
$ |
(0.65 |
) |
$ |
(0.35 |
) |
$ |
(2.34 |
) |
||||
Diluted | $ |
(0.25 |
) |
$ |
(0.65 |
) |
$ |
(0.36 |
) |
$ |
(2.34 |
) |
||||
Weighted-average common shares outstanding: | ||||||||||||||||
Basic |
|
30,552,063 |
|
|
15,335,373 |
|
|
26,350,138 |
|
|
13,907,357 |
|
||||
Diluted |
|
30,552,063 |
|
|
15,335,373 |
|
|
26,411,020 |
|
|
13,907,357 |
|
Mobix Labs, Inc. | ||||||||||||||||
Reconciliation of Non-GAAP Financial Measures | ||||||||||||||||
(unaudited, in thousands) | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
Computation of Adjusted Loss from Operations: | ||||||||||||||||
GAAP loss from operations | $ |
(9,348 |
) |
$ |
(9,739 |
) |
$ |
(35,179 |
) |
$ |
(30,804 |
) |
||||
Depreciation |
|
127 |
|
|
112 |
|
|
357 |
|
|
337 |
|
||||
Amortization of acquisition related intangible assets |
|
481 |
|
|
210 |
|
|
1,117 |
|
|
631 |
|
||||
Merger & acquisition- related expenses |
|
976 |
|
|
27 |
|
|
3,491 |
|
|
71 |
|
||||
Inventory write-off |
|
- |
|
|
- |
|
|
125 |
|
|
- |
|
||||
Stock-based compensation expense |
|
3,622 |
|
|
4,752 |
|
|
17,768 |
|
|
14,387 |
|
||||
Adjusted loss from operations | $ |
(4,142 |
) |
$ |
(4,638 |
) |
$ |
(12,321 |
) |
$ |
(15,378 |
) |
||||
Three Months Ended | Nine Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
GAAP gross profit: | ||||||||||||||||
GAAP net revenue | $ |
2,058 |
|
$ |
80 |
|
$ |
3,488 |
|
$ |
791 |
|
||||
GAAP cost of revenue |
|
1,327 |
|
|
285 |
|
|
2,608 |
|
|
1,188 |
|
||||
GAAP gross profit | $ |
731 |
|
$ |
(205 |
) |
$ |
880 |
|
$ |
(397 |
) |
||||
GAAP gross margin % |
|
35.5 |
% |
|
-256.3 |
% |
|
25.2 |
% |
|
-50.2 |
% |
||||
Computation of Adjusted Gross Profit: | ||||||||||||||||
GAAP gross profit | $ |
731 |
|
$ |
(205 |
) |
$ |
880 |
|
$ |
(397 |
) |
||||
Amortization of acquisition-related intangible assets |
|
72 |
|
|
68 |
|
|
208 |
|
|
204 |
|
||||
Inventory write-off |
|
- |
|
|
- |
|
|
125 |
|
|
- |
|
||||
Stock-based compensation expense |
|
27 |
|
|
12 |
|
|
27 |
|
|
34 |
|
||||
Adjusted Gross Profit | $ |
830 |
|
$ |
(125 |
) |
$ |
1,240 |
|
$ |
(159 |
) |
||||
Adjusted Gross Margin % |
|
40.3 |
% |
|
-156.3 |
% |
|
35.6 |
% |
|
-20.1 |
% |
Mobix Labs, Inc. | ||||||||
Condensed Consolidated Balance Sheets | ||||||||
(unaudited, in thousands, except share and per share amounts) | ||||||||
June 30, | September 30, | |||||||
2024 |
2023 |
|||||||
ASSETS | ||||||||
Current assets | ||||||||
Cash | $ |
205 |
|
$ |
89 |
|
||
Accounts receivable, net |
|
1,478 |
|
|
53 |
|
||
Inventory |
|
1,906 |
|
|
319 |
|
||
Prepaid expenses and other current assets |
|
481 |
|
|
369 |
|
||
Total current assets |
|
4,070 |
|
|
830 |
|
||
Property and equipment, net |
|
1,915 |
|
|
1,859 |
|
||
Intangible assets, net |
|
18,570 |
|
|
5,287 |
|
||
Goodwill |
|
15,206 |
|
|
5,217 |
|
||
Operating lease right-of-use assets |
|
1,086 |
|
|
1,030 |
|
||
Deferred transaction costs |
|
- |
|
|
4,125 |
|
||
Other assets |
|
430 |
|
|
400 |
|
||
Total assets | $ |
41,277 |
|
$ |
18,748 |
|
||
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK | ||||||||
AND STOCKHOLDERS' EQUITY (DEFICIT) | ||||||||
Current liabilities | ||||||||
Accounts payable | $ |
10,572 |
|
$ |
8,995 |
|
||
Accrued expenses and other current liabilities |
|
8,839 |
|
|
4,519 |
|
||
Deferred purchase consideration |
|
2,466 |
|
|
- |
|
||
Notes payable |
|
723 |
|
|
1,286 |
|
||
Notes payable - related parties |
|
2,495 |
|
|
3,793 |
|
||
Simple agreements for future equity |
|
- |
|
|
1,512 |
|
||
Operating lease liabilities, current |
|
406 |
|
|
318 |
|
||
Total current liabilities |
|
25,501 |
|
|
20,423 |
|
||
Earnout liability |
|
2,960 |
|
|
- |
|
||
PIPE make-whole liability |
|
1,949 |
|
|
- |
|
||
Deferred tax liability |
|
361 |
|
|
86 |
|
||
Operating lease liabilities, noncurrent |
|
1,139 |
|
|
1,280 |
|
||
Other noncurrent liabilities |
|
831 |
|
|
- |
|
||
Total liabilities |
|
32,741 |
|
|
21,789 |
|
||
Redeemable convertible preferred stock |
|
- |
|
|
2,300 |
|
||
Stockholders' deficit | ||||||||
Common stock, |
|
- |
|
|
- |
|
||
Additional paid-in capital |
|
101,456 |
|
|
78,421 |
|
||
Accumulated deficit |
|
(92,920 |
) |
|
(83,762 |
) |
||
Total stockholders' equity (deficit) |
|
8,536 |
|
|
(5,341 |
) |
||
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) | $ |
41,277 |
|
$ |
18,748 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240821190590/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.
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