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MOBIX LABS, INC
MOBXWCIK 0001855467NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthSemiconductors & Related DevicesDelawareFY ends Sep 30
Period
FY 2025
Revenue
$9.91M
Net Income
$-46.13M
Total Assets
$37.11M
Equity
$-336.0K
Shares Out
23.60M
Op. Cash Flow
$-10.11M
Business
MOBIX LABS, INC designs, develops and sells components and systems for advanced wireless and wired connectivity, radio frequency, switching and electromagnetic interference filtering technologies. Its products and services include mmWave and True5G 5G communications solutions, software-defined radios, custom RF ICs, mmWave imaging and sensing modules, True Xero active optical cables, EMI filter inserts and filtered/non-filtered connectors, and system design, prototyping and manufacturing services. The company operates through wireless systems solutions, interconnect products, connectivity/AOC offerings and microelectronics initiatives. It sells directly to OEMs/ODMs and through distributors and independent sales representatives into consumer commercial, industrial, automotive, medical, aerospace, defense, Pro A/V and other global markets, with connectivity products targeted at North America.
Summary from filing dated 2024-12-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Net revenue | 10 | 6 | — | — | |
| Cost of revenue | 5 | 4 | 2 | — | |
| Gross profit | 5 | 3 | −396,000 | — | |
| Research and development | 2 | 6 | 11 | — | |
| Selling, general and administrative | 40 | 42 | 24 | — | |
| Impairment of long-lived assets | 725,000 | 1 | — | — | |
| Loss from operations | −38 | −46 | −36 | −1 | |
| Interest expense | 2 | 2 | 3 | — | |
| Change in fair value of earnout liability | −440,000 | −32 | — | — | |
| Change in fair value of warrants | −804,000 | −1 | — | 1 | |
| Change in fair value of PIPE make-whole liability | — | −830,000 | — | — | |
| Merger-related transaction costs expensed | — | 4 | — | — | |
| Financing costs expensed | 7 | 3 | — | — | |
| Other non-operating losses, net | 84,000 | 2 | — | — | |
| Loss before income taxes | −46 | −22 | −40 | −776,129 | |
| Provision (benefit) for income taxes | 7,000 | −2 | 67,000 | 0 | |
| Net loss and comprehensive loss | −46 | −20 | −40 | −776,129 | |
| Deemed dividend from warrant price adjustment | — | 661,000 | — | — | |
| Net loss available to common stockholders | −46 | −21 | −40 | — | |
| Basic (per share) | −1.01 | −0.73 | −2.71 | — | |
| Diluted (per share) | −1.01 | −0.75 | −2.71 | — | |
| Basic (shares) | 45 | 28 | 15 | — | |
| Diluted (shares) | 45 | 29 | 15 | 5 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-12-31 | FY 2022 2022-09-30 |
|---|---|---|---|---|---|---|
| Cash | 3 | 266,000 | 89,000 | — | — | |
| Accounts receivable, net | 1 | 3 | 53,000 | — | — | |
| Inventory | 1 | 2 | 319,000 | — | — | |
| Prepaid expenses and other current assets | 593,000 | 467,000 | 369,000 | — | — | |
| Total current assets | 7 | 5 | 830,000 | 175,788 | — | |
| Property and equipment, net | 328,000 | 1 | 2 | — | — | |
| Intangible assets, net | 14 | 15 | 5 | — | — | |
| Goodwill | 16 | 16 | 5 | — | — | |
| Operating lease right-of-use assets | 370,000 | 1 | 1 | — | — | |
| Other assets | 115,000 | 341,000 | 400,000 | — | — | |
| Total assets | 37 | 39 | 19 | 10 | — | |
| Accounts payable | 9 | 11 | 9 | — | — | |
| Accrued expenses and other current liabilities | 11 | 10 | 5 | 358,257 | — | |
| Deferred purchase consideration | 2 | 2 | — | — | — | |
| Operating lease liabilities, current | 274,000 | 428,000 | 318,000 | — | — | |
| Total current liabilities | 28 | 26 | 20 | 1 | — | |
| Earnout liability | 1 | 2 | — | — | — | |
| Deferred tax liability | 321,000 | 320,000 | 86,000 | — | — | |
| Operating lease liabilities, noncurrent | 96,000 | 1 | 1 | — | — | |
| Liability-classified warrants | 7 | 2 | — | — | — | |
| Other noncurrent liabilities | 48,000 | 1 | — | — | — | |
| Total liabilities | 37 | 34 | 22 | 2 | — | |
| Commitments and contingencies (Note 13) | — | — | — | — | — | |
| Additional paid-in capital | 150 | 110 | 78 | 30 | — | |
| Accumulated deficit | −151 | −104 | −84 | −2 | — | |
| Total stockholders equity (deficit) | −336,000 | 6 | −5 | −2 | −9 | |
| Total liabilities and stockholders equity (deficit) | 37 | 39 | 19 | 10 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-09-30 | FY 2024 2024-09-30 | FY 2023 2023-09-30 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Depreciation | 366,000 | 472,000 | 449,000 | — | |
| Amortization of intangible assets | 2 | 2 | 841,000 | — | |
| Issuance of warrants in connection with financing activities, charged to expense | 6 | 1 | 3 | — | |
| Private placement costs expensed | 280,000 | 3 | — | — | |
| Stock-based compensation | 26 | 21 | 15 | — | |
| Deferred income taxes | 1,000 | −2 | 66,000 | — | |
| Other non-cash items | 751,000 | 693,000 | −117,000 | — | |
| Accounts receivable | 1 | −2 | 385,000 | — | |
| Inventory | 290,000 | −105,000 | 251,000 | — | |
| Prepaid expenses and other assets | 11,000 | 60,000 | 298,000 | — | |
| Accounts payable | −1 | 4 | 1 | — | |
| Accrued expenses and other current liabilities | 922,000 | 3 | 2 | — | |
| Net cash used in operating activities | −10 | −18 | −15 | −321,008 | |
| Proceeds from sale of property and equipment | 27,000 | — | — | — | |
| Acquisition of property and equipment | −26,000 | −44,000 | — | — | |
| Acquisitions of businesses, net of cash acquired | — | −1 | −633,000 | — | |
| Net cash provided by (used in) investing activities | 1,000 | −1 | −633,000 | 70 | |
| Proceeds from sale of common stock and warrants in private placements | 4 | 4 | — | — | |
| Proceeds from issuance of common stock | 2 | 4 | 14 | — | |
| Proceeds from exercise of common stock warrants | 5 | 4,000 | 909,000 | — | |
| Proceeds from exercise of stock options | — | 225,000 | — | — | |
| Principal payments on notes payable | −1 | −2 | −825,000 | — | |
| Principal payments on notes payable related parties | −574,000 | −1 | −630,000 | — | |
| Deferred consideration paid for acquisitions of businesses | −174,000 | −174,000 | — | — | |
| Proceeds from the Merger and PIPE | — | 21 | — | — | |
| Merger-related transaction costs paid | — | −7 | −933,000 | — | |
| Net cash provided by financing activities | 13 | 20 | 15 | −70 | |
| Net increase in cash | 3 | 177,000 | −89,000 | — | |
| Cash paid for interest | 2 | 521,000 | 58,000 | — | |
| Cash paid for income taxes | — | — | — | — | |
| Settlement of notes payable and other liabilities in Class A Common Stock | 1 | — | — | — | |
| Class A Common Stock issued for RaGE earnout | 2 | — | — | — | |
| Unpaid Merger-related transaction costs | — | 1 | — | — | |
| Contingently redeemable convertible stock issued for acquisition of EMI Solutions, Inc. | — | 9 | — | — | |
| Class A Common Stock issued for acquisition of RaGE Systems, Inc. | — | 8 | — | — | |
| Deferred purchase consideration for acquisitions of businesses | — | 4 | — | — | |
| Conversion of SAFEs to common stock | — | 2 | — | — | |
| Deemed dividend from warrant price adjustment | — | 661,000 | — | — | |
| Issuance of warrants in connection with notes payable, recorded as debt discount | — | 183,000 | 790,000 | — |
Filings
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