Mobix Labs, Inc. reported Q3 FY2024 financial results, with revenue surging 2,473% year-over-year to $2.06 million. The significant increase was primarily attributed to the acquisitions of EMI Solutions and RaGE Systems, as well as higher sales of active optical cables. Despite the revenue growth, the company posted a net loss of $7.68 million for the quarter.Research and development expenses decreased 57% to $1.37 million due to cost reduction actions, while selling, general and administrative expenses rose 37% to $8.71 million. The increase in SG&A was mainly due to higher costs for outside services, expenses from acquired businesses, and increased insurance costs as a public company.Mobix Labs ended the quarter with $205,000 in cash and a working capital deficit of $21.43 million. The company raised $4 million in a July private placement to bolster its financial position. Management acknowledged substantial doubt about the company's ability to continue as a going concern, citing the need for additional capital to fund operations beyond the next 90 days.

Mobix Labs, Inc. reported Q3 FY2024 financial results, with revenue surging 2,473% year-over-year to $2.06 million. The significant increase was primarily attributed to the acquisitions of EMI Solutions and RaGE Systems, as well as higher sales of active optical cables. Despite the revenue growth, the company posted a net loss of $7.68 million for the quarter.Research and development expenses decreased 57% to $1.37 million due to cost reduction actions, while selling, general and administrative expenses rose 37% to $8.71 million. The increase in SG&A was mainly due to higher costs for outside services, expenses from acquired businesses, and increased insurance costs as a public company.Mobix Labs ended the quarter with $205,000 in cash and a working capital deficit of $21.43 million. The company raised $4 million in a July private placement to bolster its financial position. Management acknowledged substantial doubt about the company's ability to continue as a going concern, citing the need for additional capital to fund operations beyond the next 90 days.