Mobix Labs, Inc. Q4 FY2024 earnings call

• Fabian announced a successful fourth quarter with sequential revenue growth of 44% and full year fiscal growth rate of 426%. Gross margins increased due to product mix, pricing, and synergies from RaGE integration.
• Announced letter of intent to acquire Spacecraft Components, which is expected to be accretive to earnings, expand into aerospace, defense, transportation sectors, and add ~150 employees.
• EMI interconnect solutions had increased bookings in aerospace and defense, with plans to produce custom filtered connectors. Wireless system solutions from RaGE showed strong revenue and margins, with partnerships like with UMASS Lowell for infrastructure imaging and satellite communications projects.

Fabian highlighted two solution groups: EMI interconnect solutions and wireless system solutions from the RaGE Systems acquisition. In the fourth quarter, EMI interconnect solutions saw increased bookings for high-performance connectors used in aerospace and defense, though no specific absolute revenue breakdown by segment with contribution percentages was provided in the transcript.

• Fourth quarter revenues were $2.95 million, surpassing guidance midpoint, with 44% sequential growth. Full year 2024 revenue grew 426% from fiscal 2023.
• Q4 adjusted gross margin was 56.6%, up 16.3 percentage points sequentially; full year 2024 adjusted gross margin was 45%.
• Q4 adjusted loss from operations declined, and full year 2024 adjusted loss from operations narrowed. Cash grew to $266,000 at end of Q4.
• Forecast for first fiscal quarter of 2025: consolidated revenues between $3.05 million and $3.15 million. Long term goals: adjusted gross margin of 60% and adjusted operating margin of 30%.

Comments contain forward-looking statements subject to risks and uncertainties; actual results could differ materially from forward-looking statements. Risks and uncertainties are detailed in SEC filings, including Form 10-Q for Q2 2024 and Form S-1.

Q: Details on EMI interconnect bookings visibility and Spacecraft employees A: Fabian stated EMI interconnect bookings visibility is typically out to two quarters. Regarding Spacecraft employees, he mentioned less than 5% are engineers Q: Strategies for shareholder value and NVIDIA partnership A: Fabian said strategy includes organic growth in connectivity, wireless communications, security imaging and detection, and M&A in aerospace, defense, transportation, medical, wireless communications. He also noted belief in Mobix IP being applicable in the NVIDIA ecosystem