Mobix Labs Financials
This page shows Mobix Labs (MOBXW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financing, not operations, is carrying a business where gross margin improved but overhead still swamps revenue.
FY2025's cash burn was almost entirely operating, not reinvestment: operating cash flow and free cash flow were both about-$10.1M , with capex just$26K . Even after gross margin reached50.5% , the company still needed$13.1M of financing inflow, which means the central problem is covering overhead rather than funding heavy capital spending.
The balance-sheet strain is mostly near-term: current liabilities of
The business is showing better gross economics, with gross margin improving from
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Mobix Labs's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Mobix Labs has an operating margin of -380.3%, meaning the company retains $-380 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -720.2% the prior year.
Mobix Labs's revenue surged 53.9% year-over-year to $9.9M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Mobix Labs carries a low D/E ratio of -3.27, meaning only $-3.27 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.
Mobix Labs's current ratio of 0.24 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Mobix Labs converts 101.8% of revenue into free cash flow ($10.1M). This strong cash generation earns a score of 100/100.
Mobix Labs passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Mobix Labs generates $-0.22 in operating cash flow ($10.1M OCF vs -$46.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Mobix Labs earns $-16.2 in operating income for every $1 of interest expense (-$37.7M vs $2.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Mobix Labs generated $9.9M in revenue in fiscal year 2025. This represents an increase of 53.9% from the prior year.
Mobix Labs's EBITDA was -$35.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 19.7% from the prior year.
Mobix Labs reported -$46.1M in net income in fiscal year 2025. This represents a decrease of 130.3% from the prior year.
Mobix Labs earned $-10.15 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 34.8% from the prior year.
Cash & Balance Sheet
Mobix Labs generated $10.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 45.0% from the prior year.
Mobix Labs held $3.3M in cash against $1.1M in long-term debt as of fiscal year 2025.
Margins & Returns
Mobix Labs's gross margin was 50.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 10.9 percentage points from the prior year.
Mobix Labs's operating margin was -380.3% in fiscal year 2025, reflecting core business profitability. This is up 339.9 percentage points from the prior year.
Mobix Labs's net profit margin was -465.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 154.4 percentage points from the prior year.
Capital Allocation
Mobix Labs invested $2.4M in research and development in fiscal year 2025. This represents a decrease of 58.1% from the prior year.
Mobix Labs invested $26K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 40.9% from the prior year.
MOBXW Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $970K-48.3% | $1.9M-0.4% | $1.9M-19.9% | $2.4M-6.4% | $2.5M-20.8% | $3.2M+7.3% | $3.0M+43.5% | $2.1M |
| Cost of Revenue | $786K-39.3% | $1.3M+39.0% | $931K-7.0% | $1.0M-32.9% | $1.5M+0.6% | $1.5M+15.6% | $1.3M-3.4% | $1.3M |
| Gross Profit | $184K-68.3% | $581K-38.9% | $951K-29.5% | $1.3M+32.3% | $1.0M-39.5% | $1.7M+0.9% | $1.7M+128.7% | $731K |
| R&D Expenses | $428K-3.2% | $442K-26.7% | $603K+24.1% | $486K-32.4% | $719K+17.7% | $611K-57.9% | $1.5M+6.0% | $1.4M |
| SG&A Expenses | $5.8M-34.8% | $9.0M+19.4% | $7.5M-8.5% | $8.2M+1.0% | $8.1M-48.2% | $15.7M+55.4% | $10.1M+16.0% | $8.7M |
| Operating Income | -$6.1M+31.0% | -$8.8M-23.3% | -$7.2M+11.2% | -$8.1M-3.1% | -$7.8M+46.5% | -$14.6M-30.4% | -$11.2M-20.0% | -$9.3M |
| Interest Expense | $1.4M+0.7% | $1.4M+6.7% | $1.3M+136.4% | $547K+99.6% | $274K+29.9% | $211K-39.7% | $350K+175.6% | $127K |
| Income Tax | $3K+112.5% | -$24K-250.0% | $16K+900.0% | -$2K+60.0% | -$5K-150.0% | -$2K-100.5% | $372K+124.7% | -$1.5M |
| Net Income | -$5.9M+42.2% | -$10.1M+35.6% | -$15.7M-90.1% | -$8.3M-261.1% | -$2.3M+88.5% | -$19.8M-72.0% | -$11.5M-50.2% | -$7.7M |
| EPS (Diluted) | $-0.59+63.4% | $-1.61 | N/A | $-0.17+70.2% | $-0.57+89.0% | $-5.16 | N/A | $-0.25 |
MOBXW Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $34.9M+6.5% | $32.7M-11.8% | $37.1M+7.4% | $34.6M-5.4% | $36.5M-2.0% | $37.3M-4.6% | $39.1M-5.3% | $41.3M |
| Current Assets | $5.5M+91.0% | $2.9M-57.2% | $6.7M+82.7% | $3.7M-7.4% | $4.0M+3.8% | $3.8M-27.5% | $5.3M+29.5% | $4.1M |
| Cash & Equivalents | $2.6M+856.3% | $268K-91.8% | $3.3M+1263.8% | $240K-69.3% | $781K+92.8% | $405K+52.3% | $266K+29.8% | $205K |
| Inventory | $1.3M+10.4% | $1.2M-18.5% | $1.4M+15.2% | $1.2M+12.7% | $1.1M-11.0% | $1.2M-28.0% | $1.7M-9.5% | $1.9M |
| Accounts Receivable | $724K-28.9% | $1.0M-28.0% | $1.4M-4.6% | $1.5M-11.7% | $1.7M-10.5% | $1.9M-33.3% | $2.8M+90.3% | $1.5M |
| Goodwill | $16.1M0.0% | $16.1M0.0% | $16.1M0.0% | $16.1M0.0% | $16.1M0.0% | $16.1M0.0% | $16.1M+5.7% | $15.2M |
| Total Liabilities | $26.0M-7.3% | $28.1M-25.1% | $37.4M+9.7% | $34.1M-5.7% | $36.2M-10.2% | $40.3M+20.1% | $33.6M+2.5% | $32.7M |
| Current Liabilities | $24.0M-4.8% | $25.2M-9.2% | $27.8M+4.1% | $26.7M-15.2% | $31.5M+10.7% | $28.4M+8.9% | $26.1M+2.4% | $25.5M |
| Long-Term Debt | $1.0M-47.4% | $1.9M+74.6% | $1.1M-20.5% | $1.4M+150.4% | $552K-36.8% | $873K-31.9% | $1.3M-60.2% | $3.2M |
| Total Equity | $8.8M+89.5% | $4.7M+1489.0% | -$336K-179.1% | $425K+24.3% | $342K+111.3% | -$3.0M-155.0% | $5.5M-35.2% | $8.5M |
| Retained Earnings | -$166.6M-3.6% | -$160.7M-6.7% | -$150.6M-11.7% | -$134.9M-6.5% | -$126.6M-1.8% | -$124.3M-19.0% | -$104.5M-12.4% | -$92.9M |
MOBXW Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.3M+10.8% | -$4.8M-130.3% | $15.7M+484.7% | -$4.1M-596.9% | -$586K+37.0% | -$930K-102.8% | $33.2M+1177.2% | -$3.1M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | -$1.0M-2117.4% | -$46K |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | $32.1M+1128.6% | -$3.1M |
| Investing Cash Flow | N/A | N/A | -$10K-137.0% | $27K | N/A | N/A | $0-100.0% | $42K |
| Financing Cash Flow | $6.5M+272.0% | $1.8M-76.7% | $7.6M+114.9% | $3.5M+259.5% | $978K-8.5% | $1.1M-71.0% | $3.7M+1384.7% | $248K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
MOBXW Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 19.0%-12.0pp | 31.0%-19.5pp | 50.5%-6.9pp | 57.4%+16.8pp | 40.6%-12.6pp | 53.2%-3.4pp | 56.6%+21.1pp | 35.5% |
| Operating Margin | -627.9%-156.9pp | -471.1%-90.4pp | -380.7%-37.3pp | -343.4%-31.6pp | -311.8%+149.9pp | -461.7%-82.0pp | -379.7%+74.5pp | -454.2% |
| Net Margin | -603.4%-63.4pp | -540.0%+295.8pp | -835.8%-483.8pp | -352.0%-260.8pp | -91.2%+534.8pp | -626.0%-235.5pp | -390.6%-17.4pp | -373.1% |
| Return on Equity | -66.2%+150.8pp | -217.0% | N/A | -1946.3%-1276.5pp | -669.9% | N/A | -208.6%-118.7pp | -90.0% |
| Return on Assets | -16.8%+14.2pp | -30.9%+11.4pp | -42.4%-18.4pp | -23.9%-17.7pp | -6.3%+47.0pp | -53.2%-23.7pp | -29.5%-10.9pp | -18.6% |
| Current Ratio | 0.23+0.1 | 0.11-0.1 | 0.24+0.1 | 0.14+0.0 | 0.130.0 | 0.13-0.1 | 0.20+0.0 | 0.16 |
| Debt-to-Equity | 0.11-0.3 | 0.41+3.7 | -3.27-6.5 | 3.25+1.6 | 1.61+1.9 | -0.29-0.5 | 0.23-0.1 | 0.38 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | 1087.9%+1239.7pp | -151.8% |
Note: Shareholder equity is negative (-$336K), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.24), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
What is Mobix Labs's annual revenue?
Mobix Labs (MOBXW) reported $9.9M in total revenue for fiscal year 2025. This represents a 53.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mobix Labs's revenue growing?
Mobix Labs (MOBXW) revenue grew by 53.9% year-over-year, from $6.4M to $9.9M in fiscal year 2025.
Is Mobix Labs profitable?
No, Mobix Labs (MOBXW) reported a net income of -$46.1M in fiscal year 2025, with a net profit margin of -465.4%.
What is Mobix Labs's EBITDA?
Mobix Labs (MOBXW) had EBITDA of -$35.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Mobix Labs have?
As of fiscal year 2025, Mobix Labs (MOBXW) had $3.3M in cash and equivalents against $1.1M in long-term debt.
What is Mobix Labs's gross margin?
Mobix Labs (MOBXW) had a gross margin of 50.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Mobix Labs's operating margin?
Mobix Labs (MOBXW) had an operating margin of -380.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mobix Labs's net profit margin?
Mobix Labs (MOBXW) had a net profit margin of -465.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Mobix Labs's free cash flow?
Mobix Labs (MOBXW) generated $10.1M in free cash flow during fiscal year 2025. This represents a -45.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Mobix Labs's operating cash flow?
Mobix Labs (MOBXW) generated $10.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mobix Labs's total assets?
Mobix Labs (MOBXW) had $37.1M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mobix Labs's capital expenditures?
Mobix Labs (MOBXW) invested $26K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Mobix Labs spend on research and development?
Mobix Labs (MOBXW) invested $2.4M in research and development during fiscal year 2025.
What is Mobix Labs's current ratio?
Mobix Labs (MOBXW) had a current ratio of 0.24 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Mobix Labs's debt-to-equity ratio?
Mobix Labs (MOBXW) had a debt-to-equity ratio of -3.27 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mobix Labs's return on assets (ROA)?
Mobix Labs (MOBXW) had a return on assets of -124.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Mobix Labs's debt-to-equity ratio negative or unusual?
Mobix Labs (MOBXW) has negative shareholder equity of -$336K as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Mobix Labs's Piotroski F-Score?
Mobix Labs (MOBXW) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mobix Labs's earnings high quality?
Mobix Labs (MOBXW) has an earnings quality ratio of -0.22x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Mobix Labs cover its interest payments?
Mobix Labs (MOBXW) has an interest coverage ratio of -16.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Mobix Labs?
Mobix Labs (MOBXW) scores 50 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.