Mobix Labs (MOBX) AI Stock Analysis

• Market Cap: $115.45M
• Dividend Yield: N/A
• Average Volume (3M): 1.68M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.91
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 50
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): N/A
• Shares Outstanding: 101,072,230
• 10 Day Avg. Volume: 2,079,468
• 30 Day Avg. Volume: 1,678,278
• PEG Ratio: -0.02
• Price to Book (P/B): -109.08
• Price to Sales (P/S): 3.70
• P/FCF Ratio: -3.61
• Enterprise Value/Market Cap: 0.56
• Enterprise Value/Revenue: 7.44
• Enterprise Value/Gross Profit: 16.45
• Enterprise Value/Ebitda: -2.04
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: $0.80 ▲(195.93% Upside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is driven down primarily by weak financial performance: declining revenue, very large operating losses, continued free-cash-flow burn, and a leveraged/strained balance sheet. Technicals are supportive (strong uptrend with positive MACD), but the extremely high RSI suggests the move may be overextended. Valuation is constrained by negative earnings and no dividend support, while the recent offering modestly improves liquidity but highlights ongoing funding needs.

Positive Factors

Healthy gross margin

A sustained gross margin near 45% provides a durable cushion against revenue volatility in product-driven businesses. If Mobix can stabilize or modestly grow sales, this margin level can allow operating leverage to translate into improved profitability over a multi-month horizon, reducing the amount of external financing needed to cover gross costs.

Focused connectivity/RF product platform

A clear specialty in RF and wireless connectivity products and engineering services anchors Mobix in a defined niche with structural demand from telecom, IoT, and networking markets. This focus supports repeatable product and services revenue streams and positions the company to capture long-term connectivity spend as wireless deployments continue to expand.

Equity raise bolsters near-term liquidity

The January equity offering meaningfully increases the company's cash runway in the near term, supporting working capital and operations. For 2–6 months this reduces acute default risk, allows continuation of product development and customer support, and provides breathing room to pursue revenue stabilization or further strategic steps.

Negative Factors

Persistent cash burn

Sustained negative operating and free cash flow at these magnitudes erodes liquidity and forces reliance on external financing or asset sales. Without a credible path to cash generation through higher revenue or materially lower operating costs, the company will remain dependent on capital markets, constraining strategic options and increasing refinancing risk.

Weak and shrinking revenue base

Declining trailing revenue reduces the base over which fixed costs can be absorbed and limits the benefit from healthy gross margins. With only modest sales scale, the firm faces difficulty achieving operating leverage; continued top-line weakness would perpetuate outsized losses and make multi-quarter turnaround materially harder.

High leverage and fragile equity

A debt-to-equity ratio near 1.85 and episodes of negative equity indicate a strained balance sheet. Elevated leverage reduces financial flexibility, raises interest and covenant risk, and makes raising further capital more dilutive or costly. This structural constraint limits investments and heightens vulnerability to demand shocks or unexpected expenses.

Mobix Labs Business Overview & Revenue Model

Company Description

Mobix Labs, Inc., a fabless semiconductor company, provides wireless and connectivity solutions for next generation communication systems, including C-Band and mmWave 5G and high bandwidth cable applications. Its products include True5G chipset solutions; true xero active optical cables and related products designed to deliver fiber optic connectivity for a range of applications, including 5G infrastructure, autonomous vehicles, Pro A/V, AR/VR, remote medical systems, and others; electromagnetic interference filters deployed in aerospace, military, defense, medical, and healthcare products. The company was incorporated in 2020 and is based in Irvine, California. Mobix Labs, Inc. operates as a subsidiary of YDENS HOLDINGS, LLC.

How the Company Makes Money

Mobix Labs generates revenue through multiple streams, primarily by charging clients for custom mobile application development projects and ongoing maintenance services. The company employs a project-based pricing model, which allows it to tailor pricing based on the specific requirements and complexity of each project. Additionally, Mobix Labs offers subscription-based services for its software solutions, enabling businesses to access premium features and continuous updates. Significant partnerships with technology providers and industry leaders enhance its market reach and credibility, contributing to a steady influx of projects and recurring revenue from long-term contracts.

Mobix Labs Financial Statement Overview

Summary

Financials are very weak: TTM revenue fell ~13% to $8.6M, losses are extreme (TTM EBIT about -$40.4M; net margin ~-423%), and cash burn remains heavy (TTM operating cash flow about -$13.9M; free cash flow about -$14.0M). Leverage is meaningful (debt-to-equity ~1.85) with a history of negative/volatile equity, limiting flexibility despite improved gross margin (~45% TTM).

Income Statement

TTM (Trailing-Twelve-Months) revenue declined to $8.6M (down ~13%), showing weak top-line momentum. Gross margin is a relative bright spot at ~45% TTM (improved from earlier periods), but the company remains deeply unprofitable with very large operating losses (TTM EBIT about -$40.4M) and a net margin around -423%, indicating the cost structure is far too high relative to current revenue. While revenue has grown versus very small levels in earlier years, profitability has not improved in a sustainable way and losses remain outsized.

Balance Sheet

Leverage is meaningful with TTM debt of ~$8.6M against ~$4.7M equity (debt-to-equity ~1.85), limiting balance-sheet flexibility. Equity has been volatile and at times negative (FY2025 and several prior years), which raises risk and makes returns on equity difficult to interpret across years. Total assets are moderate (~$32.7M TTM), but persistent losses continue to pressure the capital base, leaving the balance sheet more vulnerable than typical for the industry.

Cash Flow

Cash generation remains weak: TTM operating cash flow is about -$13.9M and free cash flow about -$14.0M, implying ongoing cash burn. A positive free-cash-flow growth figure TTM appears driven by a reduced burn versus the prior year rather than true cash profitability. Free cash flow roughly tracks net losses (TTM free cash flow to net income ~1.0), suggesting limited non-cash addbacks and that losses are translating into real cash outflows.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	8.62M	9.91M	6.44M	1.22M	3.31M	435.00K
Gross Profit	3.90M	5.01M	2.55M	-396.00K	457.00K	138.00K
EBITDA	-31.41M	-41.74M	-18.87M	-34.91M	-22.43M	-21.00M
Net Income	-36.42M	-46.13M	-20.03M	-39.62M	-23.87M	-19.99M
Balance Sheet
Total Assets	32.72M	37.11M	39.09M	18.75M	15.48M	18.88M
Cash, Cash Equivalents and Short-Term Investments	268.00K	3.27M	266.00K	89.00K	178.00K	1.01M
Total Debt	6.59M	6.55M	4.88M	8.19M	6.30M	3.41M
Total Liabilities	28.06M	37.45M	33.56M	24.09M	24.90M	18.95M
Stockholders Equity	4.67M	-336.00K	5.53M	-5.34M	-9.42M	-63.00K
Cash Flow
Free Cash Flow	-13.97M	-10.14M	-18.43M	-14.63M	-321.01K	-12.39M
Operating Cash Flow	-13.95M	-10.11M	-18.39M	-14.63M	-321.01K	-10.94M
Investing Cash Flow	1.00K	1.00K	-1.11M	-633.00K	70.17M	-1.39M
Financing Cash Flow	13.81M	13.12M	19.67M	15.17M	-69.91M	13.07M

Mobix Labs Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.27
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MOBX, the sentiment is Positive. The current price of 0.27 is above the 20-day moving average (MA) of 0.27, above the 50-day MA of 0.26, and below the 200-day MA of 0.65, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 70.38 is Negative, neither overbought nor oversold. The STOCH value of 77.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MOBX.

Mobix Labs Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
PXLW	49 Neutral	$37.95M	-3.25	―	―	-38.72%	16.01%
LEDS	47 Neutral	$12.16M	-4.79	-45.37%	―	729.81%	61.92%
SQNS	46 Neutral	$50.71M	-0.61	-120.36%	―	2.80%	―
MOBX	45 Neutral	$115.45M	-0.30	-936.03%	―	―	―
GCTS	44 Neutral	$77.54M	-1.52	―	―	-46.98%	-186.82%
WKEY	42 Neutral	$76.90M	-0.57	-24.81%	―	-42.77%	83.21%

Mobix Labs Corporate Events

Mobix Labs Announces Public Equity Offering for Working Capital

On January 6, 2026, Mobix Labs, Inc. entered into securities purchase agreements for a public offering of 30,000,000 shares of its Class A common stock at $0.20 per share, generating approximately $5.135 million in net proceeds after fees and expenses. The company engaged D. Boral Capital LLC as placement agent, agreed to customary fees, indemnification, and expense reimbursements, and plans to use the proceeds for working capital and general corporate purposes, while committing to short-term restrictions on additional share issuances and variable rate financings and implementing 30-day lock-up agreements for its executives and directors, moves that help manage near-term dilution and signal a measure of support for the offering to existing and new shareholders.

The most recent analyst rating on (MOBX) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Mobix Labs stock, see the MOBX Stock Forecast page.

Mobix Labs Prices Public Offering to Bolster Liquidity

On January 5, 2026, Mobix Labs, Inc. announced that it intended to launch a public offering of shares of its common stock or equivalents, with all securities to be sold by the company, and on January 6, 2026, it disclosed that the offering had been priced. The company plans to use the net proceeds for working capital and general corporate purposes, a move that underscores its drive to strengthen liquidity to support ongoing operations and potential expansion in high-growth connectivity markets, while D. Boral Capital serves as sole placement agent, highlighting the company’s continuing effort to bolster its financial position and strategic flexibility.

The most recent analyst rating on (MOBX) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Mobix Labs stock, see the MOBX Stock Forecast page.