Mobix Labs Inc., the Irvine-based chipmaker and connectivity startup, said its loss per share narrowed in the fiscal fourth quarter on a year-on-year basis while revenue was up 44% sequentially.
Diluted net loss per common share was 35 cents for the fiscal fourth quarter versus 42 cents in the same period a year earlier.
The company said GAAP loss from operations for the fourth quarter widened to $11.2 million from $4.7 million a year earlier.
Net loss available to common stockholders was $11.5 million in the fourth quarter versus $7.1 million a year earlier.
The company’s stock initially dropped 19% to $1.69 each after closing down 3.9% for a market cap of $64 million. They later regained ground to $1.98 apiece.
The company (Nasdaq: MOBX) reported revenue in the fiscal fourth quarter ended Sept. 30 was just under $3 million, expected to rise to between $3.05 million and $3.15 million in the current three-month period.
“Fiscal 2024 was a transformative year and as we begin 2025, we are pursuing additional financing to fuel our acquisition strategy and to provide for working capital to fulfill our strong customer demand,” President and CFO Keyvan Samini said in a statement accompanying the earnings.
