Mobix Labs, Inc. (MOBX) Earnings

Management highlights

### Fabian's remarks - Mobix Labs delivered $3.17 million revenue in fiscal Q1 2025, exceeding prior guidance and fifth consecutive quarter of growth. - Agreed to acquire Spacecraft Components Corp and SCP Manufacturing, expected to close in next few months, strengthening position in aerospace and defense markets. Spacecraft Components is a leader in precision aerospace and defense technology, SCP Manufacturing supports vital defense systems. - EMI Interconnect Solutions' Filtered ARINC Connectors launched mid-2024, demand growing; secured bookings for high-performance connectors for next-gen aircraft electronics, and connectors deployed in Apache and Chinook helicopters. - RaGE Systems awarded Phase 1 SBIR grant from U.S. Department of Defense for satellite communications project. - Demand for millimeter wave imaging and security detection products robust, non-visual imaging and multi sensor fusion tech to generate transportation infrastructure fault detection revenue. - Partnership with Talking Heads Wireless yielding results in integrating AI-driven, power-efficient radio architectures. - Research collaboration with University of Massachusetts at Lowell driving advancements in infrastructure imaging for rail industry and satellite communications. ### Keyvan's remarks - Revenue of $3.17 million in Q1 2025, exceeding high end of guidance, 7.3% sequential increase, 11-fold year-over-year growth. - Adjusted gross margin in first fiscal quarter was 54.1%, relatively stable. - Adjusted loss from operations improved 28.9%, narrowing to $2.5 million from $3.6 million in Q4, fourth consecutive quarter of reduced operating losses. - Balance sheet strengthened with cash growing to $405,000 at end of Q1 from $266,000 prior quarter.

Guidance

### For second fiscal quarter of 2025 - Acknowledges substantial near-term variability associated with acquisition strategy and sales cycles, so withholding revenue guidance at this time. ### Long-term objectives - Remain committed to achieving gross margin of 60% and adjusted operating margin of 30%. - As revenue scales, will continue disciplined cost management to drive operational leverage and advance toward profitability.

Segment performance

In fiscal Q1 2025, Mobix Labs delivered revenue of $3.17 million, exceeding prior guidance and marking the fifth consecutive quarter of growth. The EMI Interconnect Solutions products line is a high growth engine. The mid-2024 launch of Filtered ARINC Connectors set a new industry standard and demand continues to grow. In Q1 2025, bookings were secured for these high-performance connectors for next-generation aircraft electronics, and customer designed filtered connectors are deployed in U.S. Army's Apache helicopters while high-performance USB connectors are used in Chinook helicopters. The RaGE Systems product group is a powerful growth driver, having been awarded a Phase 1 SBIR grant from the U.S. Department of Defense to develop a low power, high-performance monolithic software-defined system on chip for satellite communications. Demand for millimeter wave imaging and security detection products remains robust, and partnership with Talking Heads Wireless is yielding results in integrating AI-driven, power-efficient radio architectures. Revenue contribution: EMI Interconnect Solutions and RaGE Systems are key segments driving growth, with EMI's products and RaGE's SBIR grant and related projects contributing significantly.

Risks & headwinds

### Risks - This call and webcast contain forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those expressed due to various factors, including those outlined in Mobix Labs' SEC filings, such as factors in Form 10-Q for the quarter ending February 12, 2025 and Risk Factors section of Form S-1 filed on August 12, 2024. Acquisition-related risks also exist.

Analyst Q&A

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