Mobix Labs (MOBX) Q2 2026 earnings summary

Executive summary

• Net revenue for the quarter ended March 31, 2026, was $970K, down 61% year-over-year, with both product and service revenues declining due to shipment delays and timing of contracts.

• Operating loss for the quarter was $6.1M, an improvement from $7.8M in the prior year, driven by cost management and lower SG&A and R&D expenses.

• The company completed a 1-for-10 reverse stock split in April 2026 to regain Nasdaq compliance.

• Significant financing activities included a $4M convertible note with Leviston Resources, fully converted to equity in May 2026, and a $2.4M preferred stock issuance to Kips Bay Select LP.

Financial highlights

• Three-month net revenue fell 61% year-over-year to $970K; six-month revenue dropped 50% to $2.85M.

• Gross profit for the quarter was $184K, down 82% year-over-year; six-month gross profit was $765K, down 72%.

• Operating expenses for the quarter were $6.3M, down 31% year-over-year, mainly due to lower stock-based compensation and cost controls.

• Net loss for the quarter was $5.85M ($0.59/share), compared to $2.29M ($0.57/share) in the prior year.

• Cash used in operations for the six months was $9.0M; cash balance at March 31, 2026, was $2.56M.

Outlook and guidance

• Management expects shipment delays in radar and imaging sensor products to resolve in the second half of 2026, potentially improving product revenue.

• The company anticipates continued operating losses and negative cash flows, with a need to raise additional capital to fund operations.