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Mobix Labs projects greater than 250% revenue growth over prior quarter
Expanding customer base and successful implementation of its merger and acquisition strategy
Mobix Labs, Inc. (NASDAQ:MOBX), a fabless semiconductor company developing disruptive next-generation connectivity solutions that span from wired to wireless solutions, including 5G, today announced a mid-quarter business update.
Keyvan Samini, President and CFO of Mobix Labs, commented: "Mobix Labs anticipates a significant increase in revenue, projecting 250% growth from the previous quarter. This increase can be attributed to several factors, including an expanding customer base as a result of our recent acquisition of EMI Solutions. EMI has already demonstrated promising results, contributing substantially to our anticipated revenue growth. We anticipate surpassing the $1 million mark in revenue this quarter, a testament to the immediate traction gained from EMI's offerings, and successful execution of our merger and acquisition strategy."
"The demand for Mobix Labs' filtered connectors, flex assemblies, and filter inserts remains robust, particularly driven by key programs such as the Tomahawk and Javelin Missile Systems, as well as the Abrams Tank Army contract," said Fabian Battaglia, CEO of Mobix Labs. "We are extremely satisfied with the Company's rapid revenue growth, achieved just three months after our initial public offering, and we are dedicated to increasing revenue and enhancing cash flow through both organic growth initiatives and a robust merger and acquisition strategy."
Posted In: MOBX
