Mobix Labs Reports Q3 2024 Financial Results

August 22, 2024

DENVER, Colo., Aug 22, 2024 (247marketnews.com)- Mobix Labs, Inc. (Nasdaq: MOBX) reported its fiscal third quarter financial results for the period that ended June 30, 2024.

Fabian Battaglia, CEO of Mobix Labs, commented, “We are pleased with the June quarter’s results, closing the acquisition of RaGE Systems and our growing pipeline of synergistic M&A opportunities for extending our tech portfolio and end markets.

“Quickly increasing customer demand and exciting requests for proposals are expanding the pipeline and proving that customers with high-reliability needs want to do business with Mobix.”

Mobix Labs reported that its total revenue grew to $2.1 million in the third quarter of 2024, an 80% increase over the second quarter’s $1.1 million, while adjusted loss from operations for the quarter was $4.1 million matched the $4.1 million loss for the second quarter of 2024.

Keyvan Samini, President and CFO of Mobix Labs, added, “We were pleased with our sequential revenue growth of 80%, gross margin expansion and closing an additional private placement.

“We are pursuing additional financing to fuel our acquisition strategy and to provide for working capital to fulfill our strong customer demand.”

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (MOBX)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.