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© Mobix Labs
Business |

Mobix Labs is poised for a substantial revenue increase

California-based fabless semiconductor company Mobix Labs has announced mid-quarter business update after project revenues increased rapidly.

“I am pleased to share that Mobix Labs is poised for a substantial revenue increase of over 70% sequentially this quarter, surpassing $2 million. This remarkable growth stems largely from our successful acquisition of RaGE Systems, which has significantly bolstered our revenue," says Keyvan Samini, President and CFO of Mobix Labs in the update.

Looking ahead, the company anticipate further growth in both market presence and revenue, driven by strategic acquisitions and product sales.

“We are tracking well to our scalable growth plan as we lay the foundational elements necessary to execute our strategy,” said Fabian Battaglia, CEO of Mobix Labs. “We are also pleased with the increased number of opportunities for both components and systems product lines and pursuing sizable platform design wins.”

Mobix Labs announced its acquire radio frequency design firm RaGE Systems earlier in May this year for approximately USD 2 million in cash, and around USD 10 million worth of Mobix Labs stock. RaGE develops products for 5G communications, mmWave imaging, and Software Defined Radio. It targets the commercial, industrial, defence and aerospace sectors.


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June 13 2024 1:49 pm V22.4.55-1