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Mobix Labs Inc. (MOBX+15.95%) has submitted its 10-K filing for the fiscal year ended September 30, 2024.
The filing details Mobix Labs' operations in designing and selling components and systems for advanced wireless and wired connectivity, targeting sectors such as consumer electronics, automotive, medical, aerospace, and defense.
Mobix Labs reported net revenue of $6.4 million for the fiscal year, a significant increase from $1.2 million the previous year, largely due to acquisitions.
Cost of revenue increased to $3.9 million from $1.6 million, reflecting higher sales volume and costs associated with new product lines.
The company incurred a net loss of $20.0 million, compared to a net loss of $39.6 million in the previous year, showing an improvement despite increased operating expenses.
Operating expenses rose to $41.8 million from $24.1 million, driven by higher stock-based compensation and costs related to acquisitions.
Mobix Labs completed the acquisitions of EMI Solutions and RaGE Systems, expanding its product offerings and customer base in the aerospace and defense sectors.
The company recognized a $31.9 million non-cash gain from the change in fair value of an earnout liability related to the merger with Chavant Capital Acquisition Corp.
Mobix Labs raised $21.0 million through a merger and private investment in public equity, which included a PIPE investment of $19.75 million.
The company continues to focus on expanding its market presence and product development to meet the growing demand for high-performance communication technologies.
Mobix Labs faces risks including the need for additional capital, competition, and the integration of acquired businesses, as outlined in the risk factors section of the filing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Mobix Labs Inc. annual 10-K report dated December 26, 2024. To report an error, please email earnings@qz.com.