Mobix Labs Announces Mid-Quarter Business Update
March 11 2024 - 8:00AM
Business Wire
Mobix Labs projects greater than 250% revenue
growth over prior quarter
Expanding customer base and successful
implementation of its merger and acquisition strategy
Mobix Labs, Inc. (Nasdaq: MOBX), a fabless semiconductor company
developing disruptive next-generation connectivity solutions that
span from wired to wireless solutions, including 5G, today
announced a mid-quarter business update.
Keyvan Samini, President and CFO of Mobix Labs, commented:
“Mobix Labs anticipates a significant increase in revenue,
projecting 250% growth from the previous quarter. This increase can
be attributed to several factors, including an expanding customer
base as a result of our recent acquisition of EMI Solutions. EMI
has already demonstrated promising results, contributing
substantially to our anticipated revenue growth. We anticipate
surpassing the $1 million mark in revenue this quarter, a testament
to the immediate traction gained from EMI's offerings, and
successful execution of our merger and acquisition strategy.”
“The demand for Mobix Labs’ filtered connectors, flex
assemblies, and filter inserts remains robust, particularly driven
by key programs such as the Tomahawk and Javelin Missile Systems,
as well as the Abrams Tank Army contract,” said Fabian Battaglia,
CEO of Mobix Labs. “We are extremely satisfied with the Company's
rapid revenue growth, achieved just three months after our initial
public offering, and we are dedicated to increasing revenue and
enhancing cash flow through both organic growth initiatives and a
robust merger and acquisition strategy.”
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 projected
revenue for the quarter, demand for Mobix Labs’ products,
increasing revenue and enhancing cash flow, and robust merger and
acquisition strategy, are forward-looking statements.
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 inability to deliver parts into the
Navy’s Tomahawk Missile program, guidance system parts in
connection with the U.S. Army’s Javelin Missile program,
electromagnetic interference assemblies as part of the U.S. Army’s
M-1 Abrams Tank program and to develop technology in connection
with the systems provided by RaGE Systems to its customers; the
inability to meet future capital requirements and risks related to
Mobix Labs’ ability to raise additional capital; 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 risks concerning Mobix Labs’ ability
to continue as a going concern; the inability to maintain the
listing of Mobix Labs’ securities on Nasdaq; 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 Mobix Labs operates, variations in performance across
competitors, changes in laws, regulations, technologies, the global
supply chain, and macro-economic and social environments affecting
Mobix Labs’ business and changes in the combined capital structure;
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 from past or future acquisitions or
investments; the risk that litigation 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; Mobix Labs’ reliance on a limited number of
customers and retaining those customers; the impact of health
epidemics, such as the COVID-19 pandemic, on Mobix Labs’ business
and industry and the actions Mobix Labs may take in response
thereto and to other geopolitical concerns; and in some cases,
forward-looking statements can be identified by words or phrases
such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,”
“estimate,” “intend,” “plan,” “believe,” “potential,” “continue,”
“is/are likely to” or other similar expressions. The foregoing list
of factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of our Quarterly Report on Form 10-Q
filed with the Securities and Exchange Commission (“SEC”) on
February 20, 2024, and in any subsequent filings with the SEC. All
information provided in this press release is as of the date of
this press release, and Mobix Labs undertakes no duty to update
such information, except as required under applicable law.
About Mobix Labs, Inc.
Based in Irvine, California, Mobix Labs is a fabless
semiconductor company delivering mmWave 5G and C-Band wireless
solutions and delivering connectivity and filtering products for
next-generation communication systems supporting the aerospace,
military, and high-reliability markets. The Company’s True Xero
active optical cables are designed to meet customer needs for
high-quality active optical cable solutions at an affordable price.
The Company’s electromagnetic filtering products are used in
military and aerospace applications. These technologies are
designed for large and rapidly growing markets where there are
increasing demands for higher-performance communication and
filtering systems that utilize an expanding mix of both wireless
and connectivity technologies. More information on the company can
be found by visiting http://www.mobixlabs.com or by following us on
X @MobixLabsInc and LinkedIn.
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Media Contact: Jeff Fox, The Blueshirt Group
jeff@blueshirtgroup.com 415-828-8298
Investor Contact: Lori Barker, The Blueshirt Group
lori@blueshirtgroup.com 408-313-7630
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