Mobix Labs — Q4 2026 Earnings Summary

Financial Performance:

• Preliminary fourth-quarter revenue increased 129% sequentially to approximately $1.81 million from $789,000 in the preceding quarter, exceeding the upper end of the previously announced guidance range of $1.4 million to $1.8 million.
• Preliminary product revenue surged 171% sequentially to approximately $1.43 million from $529,000 in the preceding quarter.
• Preliminary GAAP gross margin expanded to approximately 44.5% from 12.9% in the preceding quarter, an improvement of approximately 3,160 basis points.
• Preliminary GAAP gross profit increased nearly eightfold to approximately $804,000 from $102,000 in the preceding quarter, representing growth of approximately 688%.
• Preliminary GAAP operating loss narrowed 11% to approximately $6.56 million from $7.35 million in the preceding quarter.
• Approximately 36% of the reported operating loss included noncash stock-based compensation of $2.36 million, excluding depreciation and amortization.
• Preliminary GAAP net loss declined 46% to approximately $9.09 million from $16.80 million in the preceding quarter.
• For the full fiscal year 2026, preliminary GAAP net loss was $41.86 million, which included $12.30 million in stock-based compensation, $1.21 million in depreciation and amortization, and $9.91 million in losses associated with the extinguishment of notes payable and issuance of preferred shares and liability-classified warrants.
• Preliminary fourth-quarter revenue declined approximately 4% year-over-year, while GAAP gross margin was 44.5% compared to 50.5% in the prior-year quarter.
• Preliminary accounts payable decreased 46% to $4.88 million as of September 30, 2026, from $8.98 million one year earlier.
• Preliminary total liabilities declined 21% to $29.63 million from $37.45 million one year earlier, with current liabilities decreasing approximately 16%.
• Stockholders' equity improved by $5.2 million to approximately $4.87 million as of September 30, 2026, compared to a deficit of approximately $336,000 one year earlier.

Guidance and Future Outlook:

• Management anticipates continued revenue growth as the Company builds on its fourth-quarter operating recovery.
• The Company expects to report final fiscal 2026 financial results in its Annual Report on Form 10-K.
• Future growth depends on the availability of working capital, continued access to critical components, manufacturing capacity, customer demand, and timely fulfillment of orders.

Business Segments and Product Lines:

• The Company serves aerospace, defense, communications, and mission-critical markets with electromagnetic interference (EMI) filtering technologies, high-reliability connectors, and specialized radio-frequency solutions.
• The fourth-quarter revenue surge was driven by a substantial recovery in the product business following the resolution of working capital constraints that previously limited component procurement and inventory building.

Market and Competitive Landscape:

• The Company operates in aerospace, defense, and mission-critical markets, where future growth is tied to customer demand and government procurement activity.
• The press release notes competition and pricing pressures as a risk factor but does not provide specific market share data or competitor names.

Risks and Challenges:

• The Company faces risks including a history of operating losses, negative operating cash flows, existing working capital deficiencies, and liquidity constraints.
• There is substantial doubt regarding the Company's ability to continue as a going concern and its ability to obtain sufficient additional debt or equity financing.
• Risks include potential dilution to existing stockholders, inability to satisfy outstanding indebtedness, restrictions imposed by financing arrangements, and the availability and cost of critical components.
• Potential disruptions in manufacturing operations and supply chains, fluctuations in customer demand, and changes in government spending or regulations could materially affect operations.
• Compliance with Nasdaq continued listing requirements and stock price volatility are also cited as risks.

Management Commentary and Tone:

• CEO Phil Sansone described the preliminary fourth-quarter results as an "important milestone" in the ongoing turnaround, highlighting that revenue more than doubled sequentially and gross margin expanded from approximately 13% to nearly 45%.
• Management expressed confidence in restoring operating momentum following earlier working capital constraints and remains focused on improving financial and operating performance.
• The tone indicates a focus on sustaining the operating recovery and pursuing opportunities across its target markets.

Other Key Points:

• The preliminary financial results are unaudited and subject to completion of year-end closing procedures, reconciliations, and independent audit; actual results may differ materially.
• The full-year 2026 financing-related charges, including depreciation and amortization and cash/noncash components, remain subject to final reconciliation.
• The Company's recent sequential improvements in revenue, gross margin, and operating performance may not be indicative of future results.
• The press release includes a standard forward-looking statement disclaimer regarding risks and uncertainties under the Private Securities Litigation Reform Act of 1995.