~ Record Adjusted Gross Margin – 60.6%, up from 42.7% last quarter ~

~ Strong Adjusted Gross Profit Growth – up 32.7% from last quarter and 71.6% Y/Y ~

~ Year-over-Year Revenue Growth – $2.35M up 14.2% from Q3 2024 ~

IRVINE, Calif., Aug. 13, 2025 (GLOBE NEWSWIRE) -- Mobix Labs, Inc. (Nasdaq: MOBX) (“Mobix Labs” or the “Company”), a leading provider of advanced connectivity solutions, today announced financial results for its third fiscal quarter and nine months ended June 30, 2025.

“Mobix Labs delivered one of its strongest quarters ever, achieving record adjusted gross margins, substantial gross profit growth, and a sharp improvement in operating results,” said Phil Sansone, CEO of Mobix Labs. “These results demonstrate the power of our focus on high-margin products, operational discipline, and deep customer relationships in driving sustained performance and long-term shareholder value.”

Financial Highlights for Q3 2025

• Record Adjusted Gross Margin – Adjusted gross margin increased to 60.6% in Q3 2025, up from 42.7% in the prior quarter and 40.3% in the same quarter last year, reflecting a significant shift toward higher-margin products and operational efficiency.
• Substantial Growth in Adjusted Gross Profit – Adjusted gross profit rose to $1.42 million in Q3 2025, a 32.7% increase from $1.07 million in the prior quarter and a 71.1% increase from $0.83 million in the same quarter last year.
• Year-over-Year Revenue Growth – Revenue increased 14.2% year-over-year to $2.35 million compared to $2.06 million in Q3 2024, reflecting strong demand despite expected quarterly shipment timing variances.
• Sharp Improvement in Operating Results – Adjusted loss from operations improved to $1.17 million, a 64.2% reduction from the $3.27 million loss reported in the prior quarter.
• Sustained Nine-Month Momentum – For the first nine months of fiscal 2025, adjusted gross profit increased to $4.21 million, up 239.5% from $1.24 million in the same period last year, with adjusted gross margin expanding to 52.4% from 35.6%.
  

Recent Business Highlights

• Leveraging RaGE Systems to Accelerate High-Value Programs – Continued integration of RaGE Systems, a Lowell, Massachusetts-based engineering firm specializing in wireless systems and aerospace and defense product development, is enabling Mobix Labs to deliver faster, turnkey solutions from concept through production, strengthening our position in aerospace and defense markets.
• Deepened Aerospace & Defense Relationships – Expanded adoption of Mobix Labs’ EMI and connectivity solutions by top-tier defense contractors, positioning the Company for multi-year program opportunities.
• Accelerating M&A Strategy – Mobix Labs accelerated its M&A strategy by announcing an unsolicited, non-binding proposal to acquire Peraso, Inc. at a 20% premium to its 30-day average share price, signaling the Company’s strategic commitment to expanding its market presence, accelerating revenue growth, and delivering enhanced value to shareholders through consolidation within the mmWave wireless sector
• Investing in the Future of Connectivity – Ongoing focus in expanding product offering in RF/mmWave, EMI filtering, and next-generation connectivity products is creating a robust pipeline of high-margin solutions for emerging 5G, aerospace, and defense applications.

Non-GAAP Financial Measures

In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses certain non-GAAP measures of financial performance, including:

• Adjusted Gross Profit, which is defined as GAAP Gross Profit excluding amortization of acquisition-related intangible assets, inventory write-offs and stock-based compensation expense;
• Adjusted Loss from Operations, which is defined as GAAP Loss from Operations excluding depreciation, amortization of acquisition-related intangible assets, merger and acquisition-related expenses, inventory write-offs and stock-based compensation expense.

The Company’s management believes it is useful to consider these non-GAAP financial measures, together with the corresponding GAAP financial measures, as they provide more transparency into current business trends, exclusive of the effects of certain non-cash expenses, acquisition-related charges, and items that may not be present in comparative fiscal periods. Management believes that, when considered together with reported GAAP financial measures, these non-GAAP financial measures are useful to investors and management in understanding the Company’s ongoing operations and operating trends and in analyzing the Company’s underlying financial performance.

These non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or superior to, the comparable GAAP measures. These non-GAAP financial measures may be different from similarly titled measures used by other companies. In the future, Mobix may consider whether other items should also be excluded in calculating the non-GAAP financial measures it uses. Management believes that the presentation of these non-GAAP financial measures provides investors with additional useful information to measure Mobix Labs’ financial and operating performance. In particular, these measures facilitate comparison of our operating performance between periods and may help investors to understand better our operating results. Internally, management uses these non-GAAP financial measures in assessing the Company's operating results and in planning and forecasting. A reconciliation of these non-GAAP financial measures to the most comparable GAAP measure is contained in the financial tables to this press release.

About Mobix Labs, Inc.

Mobix Labs, Inc. (Nasdaq: MOBX) is a high-growth provider of advanced connectivity solutions for wireless, defense, and aerospace applications. The Company designs and delivers leading-edge technologies in RF, EMI filtering, and next-generation connectivity that enable faster, more reliable communications and higher performance for mission-critical systems. Mobix Labs serves a diverse customer base that includes top-tier defense contractors and aerospace innovators. Mobix Labs is building a robust platform for sustainable growth and long-term shareholder value.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are generally identified by words such as “anticipate,” “believe,” “expect,” “intend,” “plan,” “project,” “will,” “may,” “should,” “could,” “would,” “continue,” and other similar expressions. These forward-looking statements include, but are not limited to, statements regarding the Company’s expectations, intentions, strategies, and beliefs concerning future events, including anticipated growth in aerospace, defense, and high-margin product markets; continued operational improvements; expansion of customer relationships; product development pipelines; market opportunities; profitability; and shareholder value creation. These statements are based on the Company’s current expectations and beliefs and are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, including, without limitation, risks associated with: customer adoption and demand in targeted industries; timing and success of product development and commercialization; competitive pressures; supply chain constraints; geopolitical and defense spending trends; and those factors described in the “Risk Factors” section of the Company’s most recent filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Actual results could differ materially from those expressed or implied in the forward-looking statements due to these and other factors. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this release, whether as a result of new information, future events, or otherwise.

Contacts

Media Contact:
Chris Lancaster, Mobix Labs, Inc.
clancaster@mobixlabs.com

Investor Contact:
Ryan Battaglia, Mobix Labs, Inc.
rbattaglia@mobixlabs.com