Irvine-based Mobix Labs, a troubled maker of 5G semiconductors, said revenue climbed 14% to $2.35 million, “despite expected quarterly shipment timing variances.”
Mobix Labs said it “delivered one of its strongest quarters ever,” pointing out that its adjusted gross profit rose to $1.42 million in the third quarter, a 33% increase from $1.07 million in the prior quarter.
The company’s quarterly report to the SEC repeated that management has “substantial doubt” about its ability to continue as a going concern. Mobix’s filing said the company “currently does not have adequate liquidity to meet its operating needs and satisfy its obligations beyond the next approximately ninety days.” The company’s cash has fallen to $240,000 as of June 30 from $405,000 on Dec. 31.
Mobix Labs’  shares fell 2.6% to 86 cents each in after-hours trading; during regular trading hours, they rose 3.7% to 89 cents and a $47 million market cap (Nasdaq: MOBX).
