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$Mobix Labs (MOBX.US)$ Mobix Labs Announces Third Quarter 2024 Financial Results
Revenue up 80% sequentially and Gross Margin expansion
Acquisition strategy successfully expanding end markets and diversifying offerings
Increasing Customer Demand
IRVINE, Calif.– August 21, 2024 – Mobix Labs, Inc. (Nasdaq: MOBX) (“Mobix Labs”, “Mobix” or the “Company”), a leader in advanced connectivity solutions, today announced financial results for its fiscal third quarter ended June 30, 2024.
“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 80%, gross margin expansion and closing an additional private placement,” commented Keyvan Samini, President and CFO of Mobix Labs. “We are pursuing additional financing to fuel our acquisition strategy and to provide for working capital to fulfill our strong customer demand.”
Financial Highlights for Third Quarter of 2024
● Revenue: Total revenue grew to $2.1 million in the third quarter of 2024, an 80% increase from $1.1 million in the second quarter of 2024.
● Loss from Operations: GAAP loss from operations for the quarter was $9.3 million, compared to a loss of $8.6 million for the second quarter of 2024. On a non-GAAP basis, adjusted loss from operations for the quarter was $4.1 million compared to a loss of $4.1 million for the second quarter of 2024.
Revenue up 80% sequentially and Gross Margin expansion
Acquisition strategy successfully expanding end markets and diversifying offerings
Increasing Customer Demand
IRVINE, Calif.– August 21, 2024 – Mobix Labs, Inc. (Nasdaq: MOBX) (“Mobix Labs”, “Mobix” or the “Company”), a leader in advanced connectivity solutions, today announced financial results for its fiscal third quarter ended June 30, 2024.
“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 80%, gross margin expansion and closing an additional private placement,” commented Keyvan Samini, President and CFO of Mobix Labs. “We are pursuing additional financing to fuel our acquisition strategy and to provide for working capital to fulfill our strong customer demand.”
Financial Highlights for Third Quarter of 2024
● Revenue: Total revenue grew to $2.1 million in the third quarter of 2024, an 80% increase from $1.1 million in the second quarter of 2024.
● Loss from Operations: GAAP loss from operations for the quarter was $9.3 million, compared to a loss of $8.6 million for the second quarter of 2024. On a non-GAAP basis, adjusted loss from operations for the quarter was $4.1 million compared to a loss of $4.1 million for the second quarter of 2024.
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Jaguar8 : Outstanding revenue!
Trytosaveabit OP Jaguar8 : Yup! This could be fire tomorrow? Especially at 4? Im thinking of bumping up my add from .23 to .47/.53?
Riseup06 : Seems like Nothing happens
Trytosaveabit OP Riseup06 : You didn’t see right at the beginning of PM it broke all my lvl’s! But I will add it’s still early PM and it’s actually holding up decent
Greatvaluetrader1738 : I sold too soon lol
Trytosaveabit OP Greatvaluetrader1738 : But you got out green?
Greatvaluetrader1738 Trytosaveabit OP : yes which is good.
Trytosaveabit OP Greatvaluetrader1738 : Fantastic! Great trade. There is nothing that says if it gets a better pullback that you can’t buy back if the chart / volume says so? But again congrats green is great
Riseup06 : @Trytosaveabit How will it be today? TX
Trytosaveabit OP Riseup06 : Not sure yet! It’s holding up good. Im looking for a bit more of a pullback! But with live volume almost 5.7 million. But for now I’m bullish going into market open. That can change though. Im looking to buy back in if I get the pullback im looking for unless the chart looks as if it’s just going to collapse? NFA GL
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