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IRVINE, CA – Mobix Labs Inc. (NASDAQ:MOBX), a semiconductor and related devices manufacturing firm with a market capitalization of $39.21 million, announced the results of its Annual Meeting of Stockholders held on March 3, 2025. According to InvestingPro data, the company has faced challenging market conditions, with its stock down nearly 38% year-to-date. During the meeting, shareholders cast their votes on two key proposals, which included the election of board members and the ratification of the company’s independent registered public accounting firm.
The first proposal was the election of directors. Shareholders approved the appointment of Class A Director Nominees Kurt Busch and William Carpou, as well as Class B Director Nominee Fabrizio Battaglia. The election process saw Busch receive 29,447,506 votes for, 171,358 against, and 180,448 abstentions. Carpou garnered 29,490,852 votes for, 127,706 against, and 180,754 abstentions. Battaglia was elected by the holders of Class B Common Stock, with 20,049,010 votes for, none against, and no abstentions.
The second proposal concerned the ratification of the selection of the company’s independent registered public accounting firm. This proposal also passed with substantial support, receiving 36,247,381 votes for, 35,361 against, and 149,940 abstentions.
The meeting was well-attended, with approximately 67.2% of the voting power of the Common Stock represented in person or by proxy. This level of participation constituted a quorum for the transaction of business. The definitive proxy statement that detailed the proposals was filed with the SEC on January 22, 2025. Recent InvestingPro analysis shows the company faces financial challenges, with an EBITDA of -$40.16 million and a current ratio of 0.13, indicating potential liquidity concerns.
The results of the meeting are a significant development for Mobix Labs, which operates under the SIC code 3674 for Semiconductors & Related Devices. The approval of the director nominees and the ratification of the accounting firm are routine governance matters for public companies.
Mobix Labs, headquartered at 15420 Laguna Canyon Road, Suite 100, Irvine, CA, with a business phone number of (949) 808-8888, is incorporated in Delaware and ended its last fiscal year on September 30. The company’s Class A Common Stock and redeemable warrants are traded on the Nasdaq Capital Market under the symbols MOBX and MOBXW, respectively.
This report is based on a press release statement and provides a summary of the key outcomes from Mobix Labs’ recent Annual Meeting of Stockholders.
In other recent news, Mobix Labs, Inc. reported impressive financial results for Q1 FY2025, with revenue reaching $3.17 million, marking an 11-fold increase compared to the same quarter last year. The company also saw a 7.3% sequential revenue growth, highlighting its strong performance in the aerospace and defense markets. Mobix Labs improved its adjusted operating loss by 28.9%, reducing it to $2.5 million, and achieved an adjusted gross margin of 54.1%. The company is currently withholding near-term revenue guidance due to ongoing acquisition strategies but has set long-term financial goals, including a gross margin of 60% and an adjusted operating margin of 30%. Recent strategic acquisitions include Spacecraft Components Corp and SCP Manufacturing, which are expected to enhance Mobix Labs’ position in the aerospace and defense sectors. The company’s EMI interconnect solutions and RAGE Systems product group are noted as key growth drivers, with new contracts and product deployments in military applications. Additionally, Mobix Labs received a Phase One SBIR grant from the U.S. Department of Defense to develop advanced satellite communication technology. These developments indicate Mobix Labs’ commitment to expanding its market presence and technological capabilities.
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