MOBIX LABS, INC Q4 FY2024 earnings call

• Fourth quarter saw 44% sequential revenue growth and full year fiscal growth rate of 426%. • Gross margins increased due to favorable product mix, pricing strength, and operational efficiencies. • Announced letter of intent to acquire Spacecraft Components, which is expected to be accretive to earnings, increase workforce by ~150 employees, and expand into aerospace, military, defense, and transportation sectors. • Highlighted EMI interconnect solutions with increased bookings in aerospace and defense, and wireless system solutions from RaGE Systems with strong revenue and increased margins. • M&A strategy focuses on synergistic accretive opportunities to expand customer base and footprint.

In the fourth quarter, Mobix Labs delivered revenues of $2.95 million, a 44% sequential increase. For the full fiscal year 2024, annual revenue grew by $6.44 million, representing a 426% increase over fiscal 2023. The fourth quarter adjusted gross margin improved to 56.6%, a 16.3 percentage point sequential increase. On a full year basis, fiscal 2024 adjusted gross margin reached 45%. The company highlighted two solutions groups: EMI interconnect solutions and wireless system solutions from the RaGE Systems acquisition.

• Forecasted consolidated revenues for first fiscal quarter of 2025 between $3.05 million and $3.15 million. • Long-term goals to achieve adjusted gross margin of 60% and adjusted operating margin of 30%. • Acquisition of Spacecraft Components expected to materially increase revenue in fiscal 2025 and drive synergies for operational efficiency and scalability.

• Comments during the call contain forward-looking statements subject to risks and uncertainties as actual future results could differ materially from forward-looking statements. • Risks and uncertainties detailed in SEC filings, including Form 10-Q for Q2 2024 and Form S-1 filed August 12, 2024.

Q: Can you go into more details on EMI interconnect solutions bookings, and visibility?

A: Geopolitical factors are driving increased opportunities in aerospace and defense for EMI interconnect solutions, with visibility typically out to two quarters.

Q: Will you be able to get leverage with Spacecraft Components' 150 employees, especially on SG&A?

A: Yes, as with all acquisitions, synergies will be explored, combining Spacecraft's technology and manufacturing capability with Mobix's go-to-market strategy.

Q: What specific strategies prioritize shareholder value and stock price growth?

A: Strategy includes organic growth in connectivity, wireless communications, security imaging and detection, and an M&A strategy targeting synergistic accretive opportunities in aerospace, defense, transportation, and medical sectors.

Q: Any ways to introduce technology for strategic partnership with NVIDIA?

A: Mobix believes its IP is applicable in the NVIDIA ecosystem, and they are excited about AI end-use cases where their technology fits, expecting increased demand for higher bandwidth applications aligning with their developments.