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10-K true 2025-09-30 --09-30 2025 false 001-40621 MOBIX LABS, INC. DE 98-1591717 1 Venture Suite 220 Irvine CA 92618 (949) 808-8888 Class A Common Stock, par value $0.00001 per share MOBX NASDAQ Redeemable warrants, each warrant exercisable for one share of Class A Common Stock MOBXW NASDAQ No No Yes Yes Non-accelerated Filer true true false false false false 30500000 64308034 2004901 Portions of the registrant’s definitive proxy statement for its 2026 annual meeting of stockholders, which will be filed within 120 days after September 30, 2025, are incorporated by reference into Part III of this Annual Report on Form 10-K. Cybersecurity We currently maintain customary cybersecurity tools intended to prevent or detect unauthorized access to our information technology (“IT”) networks and applications as well as to mitigate the risk of common cybersecurity threats. We continue to develop and implement additional processes, including those intended to follow an internal IT Security Policy, which will seek to assess, identify, and manage material risks from cybersecurity threats to our IT systems and information that we create, use, transmit, receive, and maintain in our business. We will seek to integrate these processes and policies into an overall enterprise risk management process. We expect our processes for assessing, identifying, and managing material risks from cybersecurity threats, including threats associated with our use of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_906_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20241001__20250930_zyvAKY4eRtm5">third-party service providers, will include our efforts to identify the relevant assets that could be affected, determine possible threat sources and threat events, assess threats based on their potential likelihood and impact, and identify controls that are in place, or necessary, to manage and/or mitigate such risks. We may not currently be sufficiently protected against cybersecurity risks. Our existing resources may be insufficient to adequately protect us against, or to investigate and remediate any vulnerability from, cybersecurity incidents. It is possible that any of these occurrences, or a combination of them, could have material adverse consequences on our operations, business strategy or financial condition. In the event of a cybersecurity incident affecting us, we would assess any potential unauthorized attempts to access our IT systems or similar events that may adversely affect the availability or integrity of our IT systems or the security and confidentiality of the data we create, use, transmit, receive, and maintain in our business. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90C_ecyd--CybersecurityRiskProcessForInformingBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20241001__20250930_zIKtH4rAPvbh">Our management team would develop an incident response plan and report to the board of directors on our incident response plan for addressing and mitigating risks associated with such an incident. Primary responsibility for assessing cybersecurity risks rests with our audit committee of the Board, who work together with our management team, including our chief executive officer and our president and chief financial officer to manage cybersecurity risk. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_907_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantTextBlock_c20241001__20250930_zJNthbt56FJ1">To date, we have not experienced any cybersecurity threats or incidents that have materially affected our operations, business strategy or financial condition. true Our management team would develop an incident response plan and report to the board of directors on our incident response plan for addressing and mitigating risks associated with such an incident. To date, we have not experienced any cybersecurity threats or incidents that have materially affected our operations, business strategy or financial condition. 238 PricewaterhouseCoopers LLP Irvine, California

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Note 1 — Company Information Mobix Labs, Inc. (“Mobix Labs” or the “Company”), a Delaware corporation based in Irvine, California, designs, develops and sells components and systems for advanced wireless and wired connectivity, radio frequency (“RF”), switching and electromagnetic interference (“EMI”) filtering technologies used in the defense, aerospace, commercial, industrial and other markets. The Company’s wireless systems solutions include products for advanced RF and millimeter wave (“mmWave”) communications, mmWave imaging, software defined radio and custom RF integrated circuits (“ICs”) targeting the defense, aerospace, commercial and industrial sectors. The Company’s interconnect products, including EMI filter inserts and filtered and non-filtered connectors, are designed for and are currently used in aerospace, military, defense and medical applications. These technologies are designed for large and rapidly growing markets where there is increasing demand for higher performance communication and filtering systems which utilize an expanding mix of both wireless and connectivity technologies. On December 21, 2023, (the “Closing Date”), Chavant Capital Acquisition Corp. (“Chavant”) consummated the merger pursuant to the Business Combination Agreement, dated November 15, 2022 (as amended, supplemented or otherwise modified, the “Business Combination Agreement”), by and among Chavant, CLAY Merger Sub II, Inc., a Delaware corporation and newly formed, wholly-owned direct subsidiary of Chavant (“Merger Sub”), and Mobix Labs, Inc. (“Legacy Mobix”), a Delaware corporation, pursuant to which, among other things, Merger Sub merged with and into Legacy Mobix, with Legacy Mobix surviving the merger as a wholly-owned direct subsidiary of Chavant (together with the other transactions related thereto, the “Merger”). In connection with the consummation of the Merger (the “Closing”), Chavant changed its name from “Chavant Capital Acquisition Corp.” to “Mobix Labs, Inc.” and Legacy Mobix changed its name from “Mobix Labs, Inc.” to “Mobix Labs Operations, Inc.” As a result of the Merger, the Company raised gross proceeds of $21,014, including the contribution of $1,264 of cash held in Chavant’s trust account and the $19,750 private investment in public equity (“PIPE”) at $10.00 per share of Chavant’s Class A Common Stock. The common stock and public warrants of the combined company began trading on The Nasdaq Stock Market LLC under the symbols “MOBX” and “MOBXW,” respectively, on December 22, 2023. Throughout the notes to the consolidated financial statements, unless otherwise noted or otherwise suggested by context, the “Company” refers to Legacy Mobix prior to the consummation of the Merger, and to the Company after the consummation of the Merger. Going Concern The consolidated financial statements have been prepared assuming the Company will continue as a going concern. Since inception, the Company has incurred operating losses and negative cash flows from operations, as a result of its ongoing investment in product development and other operating expenses. For the years ended September 30, 2025 and 2024, the Company incurred losses from operations of $37,693 and $46,395, respectively, and as of September 30, 2025, the Company had an accumulated deficit of $150,588. The Company has historically financed its operations through the issuance and sale of equity securities and the issuance of debt. The Company expects to continue to incur operating losses and negative cash flows from operations for the foreseeable future and will need to raise additional debt or equity financing to fund its operations and satisfy its obligations. Management believes that there is substantial doubt concerning the Company’s ability to continue as a going concern as the Company currently does not have adequate liquidity to meet its operating needs and satisfy its obligations for at least the next twelve months. While the Company will seek to raise additional capital, there can be no assurance the necessary financing will be available on terms acceptable to the Company, or at all. If the Company raises funds by issuing equity securities, dilution to existing stockholders may result. Any equity securities issued may also provide for rights, preferences or privileges senior to those of holders of common stock. If the Company raises funds by issuing debt securities, such debt securities would have rights, preferences and privileges senior to those of preferred and common stockholders. The terms of debt securities or borrowings may impose significant restrictions on the Company’s operations. The capital markets have in the past, and may in the future, experience periods of volatility that could impact the availability and cost of equity and debt financing. In addition, potential future increases in federal fund rates set by the Federal Reserve, which serve as a benchmark for rates on borrowing, could adversely impact the cost or availability of debt financing. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) If the Company is unable to obtain additional financing, or if such transactions are successfully completed but do not provide adequate financing, the Company may be required to reduce its operating expenditures, which could adversely affect its business prospects, or the Company may be unable to continue operations. The consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties. Accordingly, the consolidated financial statements have been prepared on a basis that assumes the Company will continue as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the ordinary course of business.

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Note 2 — Summary of Significant Accounting Policies Basis of Presentation The Merger was accounted for as a reverse recapitalization of the Company because Legacy Mobix has been determined to be the accounting acquirer under ASC Topic 805 – Business Combinations. Under this method of accounting, Chavant is treated as the “acquired” company for financial reporting purposes. This determination was primarily based on holders of Legacy Mobix capital stock comprising a relative majority of the voting power of the Company upon consummation of the Merger and having the ability to nominate the majority of the governing body of the Company, Legacy Mobix senior management comprising the senior management of the Company, and Legacy Mobix operations comprising the ongoing operations of the Company. Accordingly, for accounting purposes, the financial statements of the Company represent a continuation of the financial statements of Legacy Mobix with the Merger being treated as the equivalent of Legacy Mobix issuing shares for the net assets of Chavant, accompanied by a recapitalization. The net assets of Chavant were recognized as of the Closing at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Merger are presented as those of Legacy Mobix and the accumulated deficit of Legacy Mobix has been carried forward after Closing. All issued and outstanding securities of Chavant upon Closing were treated as issuances of securities of the Company upon the consummation of the Merger. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Mobix Labs, Inc. and its subsidiaries. The Company’s fiscal year ends on September 30. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain prior year amounts have been reclassified for consistency with the current year presentation. Use of Estimates The preparation of the Company’s consolidated financial statements requires the Company to make estimates and assumptions that affect the reported amounts of certain assets and liabilities; the reported amounts of net revenue and expenses for the periods covered and certain amounts disclosed in the notes to the consolidated financial statements. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could differ materially from those estimates and assumptions. Areas requiring significant estimates and assumptions by the Company include, but are not limited to: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">valuation of stock-based compensation and equity-based awards;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">valuation of common stock for periods prior to the Merger;</td></tr></table> MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">impairment assessments of goodwill and long-lived assets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">measurement of liabilities carried at fair value, including the earnout liability, the PIPE make-whole liability and liability-classified warrants;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">purchase price allocations and valuations of net assets acquired in business combinations; and,</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">provisions for income taxes and related valuation allowances and tax uncertainties.</td></tr></table> Cash As of September 30, 2025 and 2024, the Company’s cash balance consisted of demand deposits held at large financial institutions. The Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents. The Company had no cash equivalents as of September 30, 2025 or 2024. The amount of deposits maintained at any financial institution may exceed federally insured limits. The Company places its cash with high credit quality financial institutions and has not experienced any losses on its deposits of cash. Accounts Receivable, net Accounts receivable are recorded at the invoiced amount and do not bear interest. For trade accounts receivable from customers, the Company performs ongoing credit evaluations of its customers and maintains an allowance for expected credit losses. The allowance for expected credit losses represents the Company’s best estimate based on current and historical information, and reasonable and supportable forecasts of future events and circumstances. Accounts receivable deemed uncollectible are charged against the allowance for expected credit losses when identified. The allowance for expected credit losses as of September 30, 2025 and 2024 and bad debt expense for the years ended September 30, 2025 and 2024 were not material. Inventory Inventory is stated at the lower of cost, determined on a first-in, first-out basis, or net realizable value. Inventory costs consist of purchased materials, outside manufacturing costs, inbound freight and receiving costs, and capitalized overhead. The Company records an inventory reserve for losses associated with excess and obsolete items, based on available information and the Company’s current expectations of future demand, product obsolescence and market conditions. Any provision for excess and obsolete inventory is charged to cost of revenue and is a permanent reduction of the carrying value of inventory. The reserve for excess and obsolete inventory as of September 30, 2025 and 2024 and write-downs of obsolete inventory for the years ended September 30, 2025 and 2024 were not material. Property and equipment, net The Company’s property and equipment primarily consists of laboratory equipment, computer hardware, equipment, furniture and fixtures and leasehold improvements. Property and equipment are recorded at cost less accumulated depreciation and any accumulated impairment losses. Depreciation and amortization are computed using the straight-line method over the assets’ estimated useful lives. Major improvements are capitalized, while routine maintenance and repairs which do not significantly improve or extend the useful life of an asset are expensed when incurred. Upon the sale or retirement of assets, costs and the related accumulated depreciation and amortization are removed from the accounts and any gain or loss is included in the consolidated statements of operations and comprehensive loss. See Note 6, Property and Equipment, net. Intangible Assets, net The Company’s intangible assets principally consist of acquired developed technology and customer relationships and have finite lives ranging from 1one to fifteen years. The Company amortizes intangible assets over their useful lives on a straight-line basis, which the Company believes approximates the pattern in which the economic benefits of the intangible assets are expected to be utilized. To the extent that an acquired developed technology is incorporated in, or used to produce, a product the Company currently produces and sells, the related amortization expense is included in cost of revenue in the consolidated statements of operations and comprehensive loss. Amortization expense on other acquisition-related intangible assets is included in operating expenses. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Impairment of Long-Lived Assets The Company reviews its long-lived assets, consisting of property and equipment and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company regularly reviews its operating performance for indicators of impairment. Factors considered important that could trigger an impairment review include a significant underperformance relative to expected historical or projected future operating results, or a significant change in the manner of the use of the assets. The Company performs impairment testing at the asset group level that represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is determined by comparing the forecasted undiscounted cash flows attributable to such assets including any cash flows upon their eventual disposition to their carrying value. If the carrying value of the assets exceeds the forecasted undiscounted cash flows, then the assets are written down to their fair value. The Company recognized impairment losses on long-lived assets of $725 and $1,333, respectively, for the years ended September 30, 2025 and 2024. See Note 7, Intangible Assets, net and Note 11, Leases. Goodwill Goodwill represents the excess of the fair value of purchase consideration of an acquired business over the fair value of the identifiable net assets acquired. Goodwill is not amortized but is tested for impairment at a reporting unit level on an annual basis on July 31, or more frequently if circumstances change or an event occurs that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Significant judgment may be required when goodwill is assessed for impairment. Qualitative factors may be assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the assessment of all relevant qualitative factors indicates that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a quantitative goodwill impairment test is not necessary. If the assessment of all relevant qualitative factors indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company will perform a quantitative goodwill impairment test. The quantitative impairment test for goodwill consists of a comparison of the fair value of a reporting unit with its carrying value, including the goodwill allocated to that reporting unit. If the carrying value of a reporting unit exceeds its fair value, the Company will recognize an impairment loss equal to the amount of the excess, limited to the amount of goodwill allocated to that reporting unit. Application of the impairment test requires judgment, including the identification of reporting units, assignment of assets and liabilities to reporting units and the determination of fair value of each reporting unit. The Company performed its annual qualitative impairment test and determined it was not more likely than not that the fair value of its reporting unit was less than its carrying amount. The Company did not record any goodwill impairment losses for the years ended September 30, 2025 and 2024. Business Combinations The Company allocates the purchase price of an acquisition to the tangible assets acquired, liabilities assumed, and intangible assets acquired, based on their estimated fair values. The excess of the purchase price over the fair values of the net assets acquired is recorded as goodwill. Accounting for business combinations requires that management make significant estimates and assumptions to determine the fair value of assets acquired and liabilities assumed at the acquisition date. Although management believes the assumptions and estimates to be reasonable and appropriate, they are inherently uncertain. Critical estimates in valuing certain acquired assets may include, but are not limited to, expected future cash flows including revenue growth rate assumptions from product sales, customer contracts and acquired technologies, expected costs to develop acquired technology into commercially viable products, estimated cash flows from the projects when completed, including assumptions associated with the technology migration curve and expected selling, general and administrative costs. The discount rates used to discount expected future cash flows to present value are typically derived from a weighted-average cost of capital analysis and are adjusted to reflect inherent risks. Unanticipated events and circumstances may occur that could affect either the accuracy or validity of such assumptions, estimates or actual results. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The Company uses a three-tiered hierarchy for inputs used in measuring fair value that emphasizes the use of observable inputs over the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are market participant assumptions based on market data obtained from sources independent of the Company. Unobservable inputs are the Company’s own assumptions of what market participants would use in pricing an asset or liability based on the best information available in the circumstances. The financial and nonfinancial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. As a basis for considering such assumptions, a three-tier hierarchy is used in management’s determination of fair value based on the reliability and observability of inputs as follows: Level 1 — Observable inputs that include quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Unobservable pricing inputs that are generally less observable from objective sources, such as discounted cash flow models or valuations. The Company’s non-financial assets, including property and equipment, intangible assets and goodwill, are measured at estimated fair value on a nonrecurring basis. These assets are adjusted to fair value only when an impairment is recognized, or in the event an asset is held for sale. Fair Value of Common Stock The Company determines the fair value of shares of its common stock by reference to quoted market prices. Prior to the Closing, there was no public market for the Company’s common stock, and the Company determined the fair value of shares of its common stock considering a number of objective and subjective factors, including: third-party valuations of its common stock, the valuation of comparable companies, sales of the Company’s common stock to outside investors in arms-length transactions, the Company’s forecasted financial performance, operational developments and milestones, the lack of marketability, the likelihood of achieving a liquidity event and the general and industry specific economic outlook. Classification of Warrants The Company accounts for warrants to purchase its common stock as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC Topic 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC Topic 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the liability classification requirements pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted when warrants are issued or modified and as of each subsequent period end date while the warrants are outstanding. Net Loss Per Share Basic and diluted net loss per share attributable to common stockholders is presented using the two-class method required for participating securities. Under the two-class method, net loss is attributed to the Class A and Class B Common Stock and other participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed using the weighted-average number of shares and the effect of potentially dilutive securities outstanding during the period. For a period in which the Company reports a net loss, diluted net loss per share is similar to basic net loss per share because potentially dilutive common shares are not assumed to have been issued if their effect is antidilutive. See Note 18, Net Loss Per Share. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Stock-Based Compensation Stock-based compensation awards principally consist of restricted stock units (“RSUs”) or restricted stock awards (“RSAs”). RSUs entitle the holder to receive a number of shares of the Company’s Class A Common Stock, subject to service-based vesting conditions or, in some cases, other conditions. RSAs consist of shares of the Company’s common stock which are contingently returnable to the Company (i.e., subject to “clawback”) in the event that specified service-based vesting conditions or other conditions are not met. The Company establishes the fair value of each RSU or RSA based on the grant-date fair value of the underlying shares of its common stock. The Company recognizes stock-based compensation expense for RSUs and RSAs over the requisite service period, as applicable, or upon determination that the satisfaction of performance-based conditions is probable. Stock-based compensation awards also include stock option awards. The Company estimates the fair value of stock option awards using the Black-Scholes-Merton (“Black-Scholes”) option-pricing model. The fair value of each stock option award is recognized as compensation expense on a straight-line basis over the requisite service period, which is typically four years. The Black-Scholes model considers several variables and assumptions in estimating the fair value of stock-based awards. These variables include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the per share fair value of the underlying common stock;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the exercise price;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the risk-free interest rate;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the expected term;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">expected stock price volatility over the expected term; and,</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the expected annual dividend yield.</td></tr></table> The expected term represents the period over which the stock-based award is expected to remain outstanding and is estimated based on historical experience of similar awards, vesting schedules and expectations of future employee behavior. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term of the stock-based award. Because there is a limited trading history for the Class A Common Stock, the Company estimates expected stock price volatility based on the historical price volatility of its common stock as well as the historical stock price volatility of similar publicly traded peer companies. The Company estimates the expected annual dividend yield will be zero because the Company does not currently expect to declare dividends on its common stock. The Company has elected to account for forfeitures as they occur and initially records stock-based compensation expense assuming all holders of RSUs, RSAs or stock option awards will complete the requisite service period. If the holder forfeits an award because they fail to complete the requisite service period, the Company reverses any previously recognized stock-based compensation expense in the period the award is forfeited. Comprehensive Loss Comprehensive loss includes the Company’s net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. There were no differences between the Company’s net loss and comprehensive loss for the years ended September 30, 2025 and 2024. Revenue Recognition The Company accounts for revenue from contracts with customers in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The Company derives its revenues primarily from product sales to equipment manufacturers. The Company recognizes product revenue when it satisfies performance obligations under the terms of its contracts and upon transfer of control when title transfers (either upon shipment to or receipt by the customer, as determined by the terms of the contract) net of accruals for estimated sales returns and allowances. Such sales returns and allowances were not material for the years ended September 30, 2025 and 2024. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The Company also derives revenue from engineering services. Contracts with customers generally contain a single distinct performance obligation, to provide research or design services for products based on the customer’s specifications. The Company recognizes services revenue over time as the services are delivered on an input basis, using costs incurred as the measure of progress. The Company does not have material variable consideration, and the Company’s revenue arrangements do not contain significant financing components. Payment terms are principally net 30 days to net 45 days. The Company generally offers a limited warranty to customers covering a period of twelve months which obligates the Company to repair or replace defective products. The warranty is not sold separately and does not represent a separate performance obligation. Therefore, the Company accounts for such warranties under ASC Topic 460, Guarantees, and the estimated costs of warranty claims are accrued as cost of revenue in the period the related revenue is recorded. The Company accrues for warranty and indemnification issues if a loss is probable and can be reasonably estimated. Warranty and indemnification expenses have historically been insignificant. The Company includes shipping and handling fees billed to customers as part of net revenue. The Company includes shipping and handling costs associated with outbound freight in cost of revenue. Sales and other taxes the Company collects, if any, are excluded from revenue. There were no significant contract assets recorded on the consolidated balance sheets as of September 30, 2025 or 2024. In some instances, the Company receives a partial payment of the sales price from the customer at the time an order is placed. Any such prepayments are recorded as a liability included in “Accrued expenses and other current liabilities” on the consolidated balance sheets and are recognized in net revenue when the Company satisfies the related performance obligations, typically as products are shipped. All incremental customer contract acquisition costs are expensed as incurred as the amortization period of the asset that the Company otherwise would have recognized is one year or less in duration. Cost of Revenue Cost of product revenue consists of materials, direct labor, contract manufacturing services, inbound freight, amortization of acquired developed technology, inventory obsolescence charges and other product-related costs. Cost of product revenue also includes overhead costs for the manufacture or sourcing of products, including facility costs and depreciation. Cost of services revenue principally consists of employee compensation and benefits of employees engaged in the delivery of engineering services, along with any related materials, equipment, supplies or other costs to perform a contract. Advertising Expense Advertising costs include spending for items such as marketing and promotional items, trade shows, sponsorships, and other programs. The Company expenses advertising costs as incurred. Advertising expenses were $31 and $91 for the years ended September 30, 2025 and 2024, respectively. Research and Development Expense Research and development expenses consist of costs incurred to perform product design and development activities, including employee compensation and benefits (including stock-based compensation), outside services, design tools, supplies, facility costs, depreciation and amortization of acquired developed technology. The Company expenses all research and development costs as incurred. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Selling, General and Administrative Expense Selling, general and administrative expenses consist of employee compensation and benefits (including stock-based compensation) of executive and administrative staff including human resources, accounting, information technology, sales and marketing, outside professional and legal fees, insurance, advertising and promotional programs, travel and entertainment, and facility costs. Income Taxes The Company accounts for income taxes using the asset and liability method whereby deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The effect on deferred tax assets and liabilities of a change in tax laws is recognized in the results of operations in the period the new laws are enacted. The Company establishes a valuation allowance when necessary to reduce the carrying amount of its deferred tax assets when it is more likely than not that the deferred tax assets will not be realized. In evaluating the Company’s ability to realize deferred tax assets, the Company considers all available positive and negative evidence, including historical operating results, ongoing tax planning, and forecasts of future taxable income on a jurisdiction-by-jurisdiction basis. Based on the level of historical losses, the Company has established a valuation allowance to reduce its net deferred tax assets to the amount that is more likely than not to be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process regarding recognition and measurement. The Company recognizes a tax benefit only if it is more likely than not the tax position will be sustained on examination by the local taxing authorities based on the technical merits of the position. Then the Company measures the tax benefits recognized in the financial statements from such positions based on the largest amount that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. Subsequent changes in recognition or measurement are reflected in the period in which the change in judgment occurs based on new information not previously available. Accounting Pronouncements Recently Adopted The Company is an “emerging growth company,” as defined in the Securities Act. Under the Jumpstart Our Business Startups Act of 2012, an emerging growth company has the option to adopt new or revised accounting guidance either (i) within the same periods as otherwise applicable to public business entities, or (ii) within the same time periods as non-public business entities, including early adoption when permissible. With the exception of accounting guidance the Company elected to early adopt, when permissible, the Company has elected to adopt new or revised accounting guidance within the same time periods as non-public business entities. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The disclosures required under ASU 2023-07 are also required for public entities with a single reportable segment. The Company adopted ASU 2023-07 for its fiscal year ended September 30, 2025, with no material impact on its financial position or results of operations. See Note 20, Segment Information. Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The ASU is effective for the Company’s fiscal year beginning October 1, 2025. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company does not expect adoption of ASU 2023-09 will have a material impact on its financial position or results of operations. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2024-03”). ASU 2024-03 requires disclosure in the notes to the financial statements of specified information about certain costs and expenses. The ASU is effective for the Company’s fiscal year beginning October 1, 2027, and for interim periods within the Company’s fiscal year beginning October 1, 2028, with early adoption permitted. The Company is currently evaluating the ASU to determine the impact it will have on the Company’s financial statements and related disclosures. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

Basis of Presentation The Merger was accounted for as a reverse recapitalization of the Company because Legacy Mobix has been determined to be the accounting acquirer under ASC Topic 805 – Business Combinations. Under this method of accounting, Chavant is treated as the “acquired” company for financial reporting purposes. This determination was primarily based on holders of Legacy Mobix capital stock comprising a relative majority of the voting power of the Company upon consummation of the Merger and having the ability to nominate the majority of the governing body of the Company, Legacy Mobix senior management comprising the senior management of the Company, and Legacy Mobix operations comprising the ongoing operations of the Company. Accordingly, for accounting purposes, the financial statements of the Company represent a continuation of the financial statements of Legacy Mobix with the Merger being treated as the equivalent of Legacy Mobix issuing shares for the net assets of Chavant, accompanied by a recapitalization. The net assets of Chavant were recognized as of the Closing at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Merger are presented as those of Legacy Mobix and the accumulated deficit of Legacy Mobix has been carried forward after Closing. All issued and outstanding securities of Chavant upon Closing were treated as issuances of securities of the Company upon the consummation of the Merger. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Mobix Labs, Inc. and its subsidiaries. The Company’s fiscal year ends on September 30.

Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Certain prior year amounts have been reclassified for consistency with the current year presentation.

Use of Estimates The preparation of the Company’s consolidated financial statements requires the Company to make estimates and assumptions that affect the reported amounts of certain assets and liabilities; the reported amounts of net revenue and expenses for the periods covered and certain amounts disclosed in the notes to the consolidated financial statements. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Changes in those estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods. As future events and their effects cannot be determined with precision, actual results could differ materially from those estimates and assumptions. Areas requiring significant estimates and assumptions by the Company include, but are not limited to: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">valuation of stock-based compensation and equity-based awards;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">valuation of common stock for periods prior to the Merger;</td></tr></table> MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">impairment assessments of goodwill and long-lived assets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">measurement of liabilities carried at fair value, including the earnout liability, the PIPE make-whole liability and liability-classified warrants;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">purchase price allocations and valuations of net assets acquired in business combinations; and,</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">provisions for income taxes and related valuation allowances and tax uncertainties.</td></tr></table>

Cash As of September 30, 2025 and 2024, the Company’s cash balance consisted of demand deposits held at large financial institutions. The Company considers all highly liquid investments with a maturity of three months or less to be cash equivalents. The Company had no cash equivalents as of September 30, 2025 or 2024. The amount of deposits maintained at any financial institution may exceed federally insured limits. The Company places its cash with high credit quality financial institutions and has not experienced any losses on its deposits of cash.

Accounts Receivable, net Accounts receivable are recorded at the invoiced amount and do not bear interest. For trade accounts receivable from customers, the Company performs ongoing credit evaluations of its customers and maintains an allowance for expected credit losses. The allowance for expected credit losses represents the Company’s best estimate based on current and historical information, and reasonable and supportable forecasts of future events and circumstances. Accounts receivable deemed uncollectible are charged against the allowance for expected credit losses when identified. The allowance for expected credit losses as of September 30, 2025 and 2024 and bad debt expense for the years ended September 30, 2025 and 2024 were not material.

Inventory Inventory is stated at the lower of cost, determined on a first-in, first-out basis, or net realizable value. Inventory costs consist of purchased materials, outside manufacturing costs, inbound freight and receiving costs, and capitalized overhead. The Company records an inventory reserve for losses associated with excess and obsolete items, based on available information and the Company’s current expectations of future demand, product obsolescence and market conditions. Any provision for excess and obsolete inventory is charged to cost of revenue and is a permanent reduction of the carrying value of inventory. The reserve for excess and obsolete inventory as of September 30, 2025 and 2024 and write-downs of obsolete inventory for the years ended September 30, 2025 and 2024 were not material.

Property and equipment, net The Company’s property and equipment primarily consists of laboratory equipment, computer hardware, equipment, furniture and fixtures and leasehold improvements. Property and equipment are recorded at cost less accumulated depreciation and any accumulated impairment losses. Depreciation and amortization are computed using the straight-line method over the assets’ estimated useful lives. Major improvements are capitalized, while routine maintenance and repairs which do not significantly improve or extend the useful life of an asset are expensed when incurred. Upon the sale or retirement of assets, costs and the related accumulated depreciation and amortization are removed from the accounts and any gain or loss is included in the consolidated statements of operations and comprehensive loss. See Note 6, Property and Equipment, net.

Intangible Assets, net The Company’s intangible assets principally consist of acquired developed technology and customer relationships and have finite lives ranging from 1one to fifteen years. The Company amortizes intangible assets over their useful lives on a straight-line basis, which the Company believes approximates the pattern in which the economic benefits of the intangible assets are expected to be utilized. To the extent that an acquired developed technology is incorporated in, or used to produce, a product the Company currently produces and sells, the related amortization expense is included in cost of revenue in the consolidated statements of operations and comprehensive loss. Amortization expense on other acquisition-related intangible assets is included in operating expenses. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

P1Y

P15Y

Impairment of Long-Lived Assets The Company reviews its long-lived assets, consisting of property and equipment and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company regularly reviews its operating performance for indicators of impairment. Factors considered important that could trigger an impairment review include a significant underperformance relative to expected historical or projected future operating results, or a significant change in the manner of the use of the assets. The Company performs impairment testing at the asset group level that represents the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. Recoverability of these assets is determined by comparing the forecasted undiscounted cash flows attributable to such assets including any cash flows upon their eventual disposition to their carrying value. If the carrying value of the assets exceeds the forecasted undiscounted cash flows, then the assets are written down to their fair value. The Company recognized impairment losses on long-lived assets of $725 and $1,333, respectively, for the years ended September 30, 2025 and 2024. See Note 7, Intangible Assets, net and Note 11, Leases.

725000

1333000

Goodwill Goodwill represents the excess of the fair value of purchase consideration of an acquired business over the fair value of the identifiable net assets acquired. Goodwill is not amortized but is tested for impairment at a reporting unit level on an annual basis on July 31, or more frequently if circumstances change or an event occurs that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Significant judgment may be required when goodwill is assessed for impairment. Qualitative factors may be assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the assessment of all relevant qualitative factors indicates that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a quantitative goodwill impairment test is not necessary. If the assessment of all relevant qualitative factors indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company will perform a quantitative goodwill impairment test. The quantitative impairment test for goodwill consists of a comparison of the fair value of a reporting unit with its carrying value, including the goodwill allocated to that reporting unit. If the carrying value of a reporting unit exceeds its fair value, the Company will recognize an impairment loss equal to the amount of the excess, limited to the amount of goodwill allocated to that reporting unit. Application of the impairment test requires judgment, including the identification of reporting units, assignment of assets and liabilities to reporting units and the determination of fair value of each reporting unit. The Company performed its annual qualitative impairment test and determined it was not more likely than not that the fair value of its reporting unit was less than its carrying amount. The Company did not record any goodwill impairment losses for the years ended September 30, 2025 and 2024.

Business Combinations The Company allocates the purchase price of an acquisition to the tangible assets acquired, liabilities assumed, and intangible assets acquired, based on their estimated fair values. The excess of the purchase price over the fair values of the net assets acquired is recorded as goodwill. Accounting for business combinations requires that management make significant estimates and assumptions to determine the fair value of assets acquired and liabilities assumed at the acquisition date. Although management believes the assumptions and estimates to be reasonable and appropriate, they are inherently uncertain. Critical estimates in valuing certain acquired assets may include, but are not limited to, expected future cash flows including revenue growth rate assumptions from product sales, customer contracts and acquired technologies, expected costs to develop acquired technology into commercially viable products, estimated cash flows from the projects when completed, including assumptions associated with the technology migration curve and expected selling, general and administrative costs. The discount rates used to discount expected future cash flows to present value are typically derived from a weighted-average cost of capital analysis and are adjusted to reflect inherent risks. Unanticipated events and circumstances may occur that could affect either the accuracy or validity of such assumptions, estimates or actual results. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The Company uses a three-tiered hierarchy for inputs used in measuring fair value that emphasizes the use of observable inputs over the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are market participant assumptions based on market data obtained from sources independent of the Company. Unobservable inputs are the Company’s own assumptions of what market participants would use in pricing an asset or liability based on the best information available in the circumstances. The financial and nonfinancial assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurement. As a basis for considering such assumptions, a three-tier hierarchy is used in management’s determination of fair value based on the reliability and observability of inputs as follows: Level 1 — Observable inputs that include quoted prices in active markets for identical assets or liabilities. Level 2 — Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Unobservable pricing inputs that are generally less observable from objective sources, such as discounted cash flow models or valuations. The Company’s non-financial assets, including property and equipment, intangible assets and goodwill, are measured at estimated fair value on a nonrecurring basis. These assets are adjusted to fair value only when an impairment is recognized, or in the event an asset is held for sale.

Fair Value of Common Stock The Company determines the fair value of shares of its common stock by reference to quoted market prices. Prior to the Closing, there was no public market for the Company’s common stock, and the Company determined the fair value of shares of its common stock considering a number of objective and subjective factors, including: third-party valuations of its common stock, the valuation of comparable companies, sales of the Company’s common stock to outside investors in arms-length transactions, the Company’s forecasted financial performance, operational developments and milestones, the lack of marketability, the likelihood of achieving a liquidity event and the general and industry specific economic outlook. Classification of Warrants The Company accounts for warrants to purchase its common stock as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC Topic 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC Topic 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the liability classification requirements pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own stock, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted when warrants are issued or modified and as of each subsequent period end date while the warrants are outstanding.

Net Loss Per Share Basic and diluted net loss per share attributable to common stockholders is presented using the two-class method required for participating securities. Under the two-class method, net loss is attributed to the Class A and Class B Common Stock and other participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed using the weighted-average number of shares and the effect of potentially dilutive securities outstanding during the period. For a period in which the Company reports a net loss, diluted net loss per share is similar to basic net loss per share because potentially dilutive common shares are not assumed to have been issued if their effect is antidilutive. See Note 18, Net Loss Per Share. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

Stock-Based Compensation Stock-based compensation awards principally consist of restricted stock units (“RSUs”) or restricted stock awards (“RSAs”). RSUs entitle the holder to receive a number of shares of the Company’s Class A Common Stock, subject to service-based vesting conditions or, in some cases, other conditions. RSAs consist of shares of the Company’s common stock which are contingently returnable to the Company (i.e., subject to “clawback”) in the event that specified service-based vesting conditions or other conditions are not met. The Company establishes the fair value of each RSU or RSA based on the grant-date fair value of the underlying shares of its common stock. The Company recognizes stock-based compensation expense for RSUs and RSAs over the requisite service period, as applicable, or upon determination that the satisfaction of performance-based conditions is probable. Stock-based compensation awards also include stock option awards. The Company estimates the fair value of stock option awards using the Black-Scholes-Merton (“Black-Scholes”) option-pricing model. The fair value of each stock option award is recognized as compensation expense on a straight-line basis over the requisite service period, which is typically four years. The Black-Scholes model considers several variables and assumptions in estimating the fair value of stock-based awards. These variables include: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the per share fair value of the underlying common stock;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the exercise price;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the risk-free interest rate;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the expected term;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">expected stock price volatility over the expected term; and,</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif">the expected annual dividend yield.</td></tr></table> The expected term represents the period over which the stock-based award is expected to remain outstanding and is estimated based on historical experience of similar awards, vesting schedules and expectations of future employee behavior. The risk-free interest rate is based on the yield available on U.S. Treasury zero-coupon issues similar in duration to the expected term of the stock-based award. Because there is a limited trading history for the Class A Common Stock, the Company estimates expected stock price volatility based on the historical price volatility of its common stock as well as the historical stock price volatility of similar publicly traded peer companies. The Company estimates the expected annual dividend yield will be zero because the Company does not currently expect to declare dividends on its common stock. The Company has elected to account for forfeitures as they occur and initially records stock-based compensation expense assuming all holders of RSUs, RSAs or stock option awards will complete the requisite service period. If the holder forfeits an award because they fail to complete the requisite service period, the Company reverses any previously recognized stock-based compensation expense in the period the award is forfeited.

Comprehensive Loss Comprehensive loss includes the Company’s net loss as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. There were no differences between the Company’s net loss and comprehensive loss for the years ended September 30, 2025 and 2024.

Revenue Recognition The Company accounts for revenue from contracts with customers in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). The Company derives its revenues primarily from product sales to equipment manufacturers. The Company recognizes product revenue when it satisfies performance obligations under the terms of its contracts and upon transfer of control when title transfers (either upon shipment to or receipt by the customer, as determined by the terms of the contract) net of accruals for estimated sales returns and allowances. Such sales returns and allowances were not material for the years ended September 30, 2025 and 2024. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The Company also derives revenue from engineering services. Contracts with customers generally contain a single distinct performance obligation, to provide research or design services for products based on the customer’s specifications. The Company recognizes services revenue over time as the services are delivered on an input basis, using costs incurred as the measure of progress. The Company does not have material variable consideration, and the Company’s revenue arrangements do not contain significant financing components. Payment terms are principally net 30 days to net 45 days. The Company generally offers a limited warranty to customers covering a period of twelve months which obligates the Company to repair or replace defective products. The warranty is not sold separately and does not represent a separate performance obligation. Therefore, the Company accounts for such warranties under ASC Topic 460, Guarantees, and the estimated costs of warranty claims are accrued as cost of revenue in the period the related revenue is recorded. The Company accrues for warranty and indemnification issues if a loss is probable and can be reasonably estimated. Warranty and indemnification expenses have historically been insignificant. The Company includes shipping and handling fees billed to customers as part of net revenue. The Company includes shipping and handling costs associated with outbound freight in cost of revenue. Sales and other taxes the Company collects, if any, are excluded from revenue. There were no significant contract assets recorded on the consolidated balance sheets as of September 30, 2025 or 2024. In some instances, the Company receives a partial payment of the sales price from the customer at the time an order is placed. Any such prepayments are recorded as a liability included in “Accrued expenses and other current liabilities” on the consolidated balance sheets and are recognized in net revenue when the Company satisfies the related performance obligations, typically as products are shipped. All incremental customer contract acquisition costs are expensed as incurred as the amortization period of the asset that the Company otherwise would have recognized is one year or less in duration.

Cost of Revenue Cost of product revenue consists of materials, direct labor, contract manufacturing services, inbound freight, amortization of acquired developed technology, inventory obsolescence charges and other product-related costs. Cost of product revenue also includes overhead costs for the manufacture or sourcing of products, including facility costs and depreciation. Cost of services revenue principally consists of employee compensation and benefits of employees engaged in the delivery of engineering services, along with any related materials, equipment, supplies or other costs to perform a contract.

Advertising Expense Advertising costs include spending for items such as marketing and promotional items, trade shows, sponsorships, and other programs. The Company expenses advertising costs as incurred. Advertising expenses were $31 and $91 for the years ended September 30, 2025 and 2024, respectively.

31000

91000

Research and Development Expense Research and development expenses consist of costs incurred to perform product design and development activities, including employee compensation and benefits (including stock-based compensation), outside services, design tools, supplies, facility costs, depreciation and amortization of acquired developed technology. The Company expenses all research and development costs as incurred. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

Selling, General and Administrative Expense Selling, general and administrative expenses consist of employee compensation and benefits (including stock-based compensation) of executive and administrative staff including human resources, accounting, information technology, sales and marketing, outside professional and legal fees, insurance, advertising and promotional programs, travel and entertainment, and facility costs.

Income Taxes The Company accounts for income taxes using the asset and liability method whereby deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The effect on deferred tax assets and liabilities of a change in tax laws is recognized in the results of operations in the period the new laws are enacted. The Company establishes a valuation allowance when necessary to reduce the carrying amount of its deferred tax assets when it is more likely than not that the deferred tax assets will not be realized. In evaluating the Company’s ability to realize deferred tax assets, the Company considers all available positive and negative evidence, including historical operating results, ongoing tax planning, and forecasts of future taxable income on a jurisdiction-by-jurisdiction basis. Based on the level of historical losses, the Company has established a valuation allowance to reduce its net deferred tax assets to the amount that is more likely than not to be realized. The Company recognizes liabilities for uncertain tax positions based on a two-step process regarding recognition and measurement. The Company recognizes a tax benefit only if it is more likely than not the tax position will be sustained on examination by the local taxing authorities based on the technical merits of the position. Then the Company measures the tax benefits recognized in the financial statements from such positions based on the largest amount that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. Subsequent changes in recognition or measurement are reflected in the period in which the change in judgment occurs based on new information not previously available.

Accounting Pronouncements Recently Adopted The Company is an “emerging growth company,” as defined in the Securities Act. Under the Jumpstart Our Business Startups Act of 2012, an emerging growth company has the option to adopt new or revised accounting guidance either (i) within the same periods as otherwise applicable to public business entities, or (ii) within the same time periods as non-public business entities, including early adoption when permissible. With the exception of accounting guidance the Company elected to early adopt, when permissible, the Company has elected to adopt new or revised accounting guidance within the same time periods as non-public business entities. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). ASU 2023-07 expands segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The disclosures required under ASU 2023-07 are also required for public entities with a single reportable segment. The Company adopted ASU 2023-07 for its fiscal year ended September 30, 2025, with no material impact on its financial position or results of operations. See Note 20, Segment Information.

Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The ASU is effective for the Company’s fiscal year beginning October 1, 2025. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company does not expect adoption of ASU 2023-09 will have a material impact on its financial position or results of operations. In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40) (“ASU 2024-03”). ASU 2024-03 requires disclosure in the notes to the financial statements of specified information about certain costs and expenses. The ASU is effective for the Company’s fiscal year beginning October 1, 2027, and for interim periods within the Company’s fiscal year beginning October 1, 2028, with early adoption permitted. The Company is currently evaluating the ASU to determine the impact it will have on the Company’s financial statements and related disclosures.

Note 3 — Reverse Recapitalization As discussed in Note 1, Company Information, the Closing of the Merger occurred on December 21, 2023. In the Merger, as provided for in the Business Combination Agreement: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">All of Legacy Mobix’s <span id="xdx_908_eus-gaap--CommonStockSharesIssued_iI_pid_c20231221__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zNYCNsHenRs1" title="Common stock shares issued"><span id="xdx_90C_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20231221__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zF4iGQULpAEc" title="Common stock shares outstanding">18,139,258 issued and outstanding shares of common stock were cancelled and converted into the same number of shares of the Company’s Class A Common Stock;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">All of Legacy Mobix’s Founders Redeemable Convertible Preferred Stock and Series A Redeemable Convertible Preferred Stock, totaling <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20231221__20231221__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zvlKBiT9iDmk" title="Conversion of notes into shares">2,254,901 shares, was converted into the same number of shares of the Company’s Class B Common Stock;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">All of Legacy Mobix’s convertible notes were converted into shares of Legacy Mobix common stock immediately prior to Closing and pursuant to their terms, totaling <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20231221__20231221__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQV8olUzn4T4" title="Conversion of notes into shares">30,045 shares, which were then cancelled and converted into the same number of shares of the Company’s Class A Common Stock;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">All of Legacy Mobix’s simple agreements for future equity (“SAFEs”) were converted into <span id="xdx_903_eus-gaap--ConversionOfStockSharesConverted1_pid_c20231221__20231221__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zwDn3xn4ymae" title="Number of shares converted">150,953 shares of the Company’s Class A Common Stock;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">All of Legacy Mobix’s stock options and warrants were assumed by the Company and converted into the same number of stock options or warrants to purchase shares of the Company’s Class A Common Stock, with no change to their exercise prices, vesting conditions or other terms; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">All of Legacy Mobix’s RSUs were assumed by the Company and converted into RSUs covering the same number of shares of the Company’s Class A Common Stock.</td></tr></table> The other related events that occurred in connection with the Closing include the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company entered into the PIPE Subscription Agreements, as described below;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company entered into the Sponsor PIPE Subscription Agreement, Sponsor Warrant and Sponsor Letter Agreement, as described below;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company entered into a non-redemption agreement with a stockholder, as described below;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company entered into an amendment to its Business Combination Marketing Agreement, as described below;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company assumed the <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20231221__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_zToecV6S7ML3" title="Number of warrants">6,000,000 public warrants (“Public Warrants”) and <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20231221__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivatePlacementWarrantsMember_z2KrNFSVzQsb" title="Number of warrants">3,400,000 private placement warrants (“Private Warrants”) originally issued by Chavant in 2021 in connection with its initial public offering, as described in Note 15, Warrants;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company adopted the 2023 Employee Stock Purchase Plan and the 2023 Equity Incentive Plan, as described in Note 16, Stock-Based Compensation;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company adopted an amended and restated certificate of incorporation and amended and restated bylaws; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The Company entered into indemnification agreements with each of its directors and officers.</td></tr></table> PIPE Subscription Agreements In connection with the Merger, Chavant entered into the PIPE Subscription Agreements with certain accredited investors and pursuant to which the investors agreed to purchase an aggregate of <span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward_pid_c20231224__20231224__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--PIPESubscriptionAgreementsMember_z5aYZOsjEhjl" title="Aggregate shares purchase">1,975,000 shares of Class A Common Stock of Chavant at a price of $<span id="xdx_903_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20231224__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--PIPESubscriptionAgreementsMember_zl4xCjjk1R2h" title="Price per share">10.00 per share for an aggregate amount of $<span id="xdx_905_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn3n3_c20231224__20231224__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--PIPESubscriptionAgreementsMember_zC2oWq9JOXC5" title="Aggregate amount in cash">19,750 in cash. Subsequent to the Closing, the number of shares purchased by the PIPE investors was adjusted through the issuance of additional shares of Class A Common Stock. See “Make-Whole Shares,” below. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The PIPE investors also received warrants to purchase <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20231224__us-gaap--AwardTypeAxis__custom--PIPESubscriptionAgreementsMember__srt--TitleOfIndividualAxis__custom--PIPEInvestorsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zYe2ae7g0nx2" title="Number of warrants">1,950,000 shares of Class A Common Stock at an exercise price of $<span id="xdx_907_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20231224__us-gaap--AwardTypeAxis__custom--PIPESubscriptionAgreementsMember__srt--TitleOfIndividualAxis__custom--PIPEInvestorsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAkpDOALRCA7" title="Price per share">0.01 per share, of which warrants to purchase <span id="xdx_903_ecustom--WarrantsToPurchaseShares_pid_c20231224__20231224__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--PIPESubscriptionAgreementsMember_zlokxgVRwjc9" title="Warrants to purchase shares immediate exercisable">200,000 shares are immediately exercisable and warrants to purchase <span id="xdx_90D_ecustom--WarrantToPurchaseShares_pid_c20231224__20231224__us-gaap--AwardTypeAxis__custom--PIPESubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zT2OHd0yp6N6" title="Warrants to purchase shares exercisable">1,750,000 shares became exercisable upon approval by the Company’s stockholders, which was obtained on January 3, 2025. During the year ended September 30, 2025, warrants to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--AwardTypeAxis__custom--PIPESubscriptionAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z8sOTZI3CYth" title="Number of warrants">1,500,000 shares of Class A Common Stock were exercised, for net proceeds to the Company of $15. Sponsor PIPE Subscription Agreements, Sponsor Warrant and Sponsor Letter Agreement On December 19, 2023, Chavant entered into the Sponsor PIPE Subscription Agreement with the Sponsor pursuant to which the Sponsor agreed to purchase, in a private placement that closed substantially concurrently with the Closing, 199,737 shares of Class A Common Stock at a price of $10.00 per share. The aggregate purchase price of $1,997 was paid through the forgiveness of certain obligations of Chavant. Subsequent to the Closing, the number of shares purchased by the Sponsor was adjusted through the issuance of additional shares of Class A Common Stock. See “Make-Whole Shares,” below. In connection with the execution of the Sponsor PIPE Subscription Agreement, Legacy Mobix issued to the Sponsor a warrant to purchase <span id="xdx_901_ecustom--WarrantsToPurchaseShares_pid_c20231219__20231219__us-gaap--AwardTypeAxis__custom--SponsorPIPESubscriptionAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember_zEOEU0owFkrc" title="Warrants to purchase shares exercisable">272,454 shares of Legacy Mobix common stock at an exercise price of $<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20231219__us-gaap--AwardTypeAxis__custom--SponsorPIPESubscriptionAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember_zRe3H7YhcMXk" title="Price per share">0.01 per share, exercisable upon the closing of the Sponsor PIPE Subscription Agreement (the “Sponsor Warrant”). The Sponsor Warrant was exercised at the closing of the Sponsor PIPE Subscription Agreement and, following net settlement into <span id="xdx_906_eus-gaap--ConversionOfStockSharesConverted1_pid_c20231219__20231219__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember__us-gaap--AwardTypeAxis__custom--SponsorPIPESubscriptionAgreementMember_zZ8ENUUvaSfl" title="Converted into common stock">272,182 shares of Legacy Mobix common stock, converted into <span id="xdx_903_eus-gaap--ConversionOfStockSharesConverted1_pid_c20231219__20231219__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--AwardTypeAxis__custom--SponsorPIPESubscriptionAgreementMember_zjAnSBuEmnG1" title="Converted into common stock">272,182 shares of Class A Common Stock of the Company in connection with the Closing. On December 20, 2023, Chavant also entered into a Sponsor Letter Agreement with the Sponsor pursuant to which, as consideration for the 199,737 shares issued pursuant to the Sponsor PIPE Subscription Agreement described above, the Sponsor agreed to forgive approximately $<span id="xdx_909_eus-gaap--ObligationWithJointAndSeveralLiabilityArrangementAmountOutstanding_iI_pn3n3_c20231220__us-gaap--AwardTypeAxis__custom--SponsorPIPESubscriptionAgreementMember_zcNUnZHgmjgd" title="Aggregate outstanding obligations">1,997 of aggregate outstanding obligations of Chavant. In addition, the Sponsor agreed to forfeit <span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_pid_c20231220__20231220__us-gaap--AwardTypeAxis__custom--FounderSharesMember_zWnkt8b0ZAN" title="Forfeiture of shares">658,631 Founder Shares and <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_pid_c20231220__20231220__us-gaap--AwardTypeAxis__custom--PrivateWarrantsMember_znzBWOslPjA1" title="Forfeiture of shares">400,000 Private Warrants that it held, in each case upon the Closing. Non-Redemption Agreement On December 20, 2023, Chavant and Mobix Labs entered into a non-redemption agreement with a stockholder of Chavant, pursuant to which the stockholder agreed to withdraw its redemption of 73,706 ordinary shares of Chavant (“Ordinary Shares”) prior to the Merger. In consideration therefor, Mobix Labs issued the stockholder a warrant to purchase 202,692 shares of Legacy Mobix common stock at an exercise price of $0.01 per share, exercisable upon the Closing. The warrant was exercised at the Closing and, following net settlement into 202,489 shares of Legacy Mobix common stock, converted into <span id="xdx_903_eus-gaap--ConversionOfStockSharesConverted1_pid_c20231220__20231220__us-gaap--AwardTypeAxis__custom--NonRedemptionAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zR8SqdCoX02l" title="Converted into common stock">202,489 shares of Class A Common Stock of the Company in connection with the Closing. Amendment to Business Combination Marketing Agreement On December 21, 2023, Chavant entered into an amendment to the Business Combination Marketing Agreement, dated as of July 19, 2021 between Chavant and certain advisors wherein the parties agreed to resolve their differences with respect to marketing fees contemplated by the agreement and the advisors agreed to receive, in lieu of any cash payment of fees or reimbursement of expenses, an aggregate of 280,000 shares of Class A Common Stock. Subsequent to the Closing, the number of shares the advisors received was adjusted through the issuance of additional shares of Class A Common Stock. See “Make-Whole Shares,” below. Earnout Shares In addition to the consideration paid at Closing, certain Legacy Mobix stockholders and certain holders of Legacy Mobix stock options (the “Earnout Recipients”) will be entitled to receive an additional aggregate 3,500,000 shares of Class A Common Stock issuable as earnout shares (the “Earnout Shares”) based on the achievement of trading price targets following the Closing and subject to the terms provided in the Business Combination Agreement. The Earnout Shares have a seven-year “Earnout Period,” commencing on the date that is the one year anniversary of the Closing, pursuant to which up to 1,750,000 shares of Class A Common Stock will be distributed to the Earnout Recipients if the volume-weighted average price (“VWAP”) of the Class A Common Stock exceeds $12.50 for any twenty trading days within a period of thirty consecutive trading days during the Earnout Period and an additional <span id="xdx_90C_eus-gaap--ExcessStockSharesIssued_iI_pid_c20250930__us-gaap--AwardTypeAxis__custom--EarnoutSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zABvKZdaO2xg" title="Additional shares of common stock">1,750,000 shares of Class A Common Stock will be distributed to the Earnout Recipients if the VWAP of the Class A Common Stock exceeds $<span id="xdx_900_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20250930__us-gaap--AwardTypeAxis__custom--EarnoutSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zMwDha7BGJ26" title="Price per share">15.00 for any twenty trading days within a period of thirty consecutive trading days during the Earnout Period. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The Earnout Shares are accounted for as liability-classified instruments because the events that determine the number of Earnout Shares to which the Earnout Recipients will be entitled include events that are not solely indexed to the Company’s common stock. At the time of Closing, the Company estimated the aggregate fair value of its liability for the Earnout Shares using a Monte Carlo simulation model and recorded a liability of $<span id="xdx_906_ecustom--LiabilitiesRecognizedInConnectionWithTheMerger_pn3n3_c20241001__20250930__us-gaap--AwardTypeAxis__custom--EarnoutSharesMember_zHNBROldSxEc" title="Liability in connection with the merger">33,559. As of September 30, 2025 and 2024, none of the conditions for the issuance of any Earnout Shares had been achieved and the Company adjusted the carrying amount of the liability to its estimated fair value of $<span id="xdx_906_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iI_pn3n3_c20250930__us-gaap--AwardTypeAxis__custom--EarnoutSharesMember_zXjuZDhyu3n7" title="Liability to its estimated fair value">1,240 and $<span id="xdx_903_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iI_pn3n3_c20240930__us-gaap--AwardTypeAxis__custom--EarnoutSharesMember_zdMviYNTeTB5" title="Liability to its estimated fair value">1,680, respectively. As a result of decreases in the fair value of the liability, which were primarily the result of decreases in the price of the Company’s Class A Common Stock subsequent to the Closing, the Company recognized non-cash gains of $440 and $31,879 for the years ended September 30, 2025 and 2024, respectively, which are included in “Change in fair value of earnout liability” in the consolidated statements of operations and comprehensive loss. Make-Whole Shares Pursuant to the PIPE Subscription Agreements, the Sponsor PIPE Subscription Agreement and the Amendment to Business Combination Marketing Agreement described above, Chavant agreed to issue additional shares of its Class A Common Stock (the “Make-Whole Shares”) to the PIPE Investors, the Sponsor and certain advisors with respect to <span id="xdx_90C_eus-gaap--CommonStockSharesIssued_iI_pid_c20250930__us-gaap--AwardTypeAxis__custom--MakeWholeSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zPlBc7CNaHla" title="Shares of common stock">2,454,737 shares of the Company’s Class A Common Stock in the event that the VWAP per share of the Class A Common Stock during a specified period (the “Adjustment Period VWAP”) is less than $<span id="xdx_902_eus-gaap--SharePrice_iI_pid_c20241224__us-gaap--AwardTypeAxis__custom--MakeWholeSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z9arR3t3vdLi" title="Per share value">10.00 per share. In such case, the PIPE Investors were entitled to receive a number of Make-Whole Shares equal to the number of shares of Class A Common Stock issued to the PIPE Investor multiplied by a fraction, the numerator of which is $<span id="xdx_90B_eus-gaap--SharesIssuedPricePerShare_iI_pid_c20250930__us-gaap--AwardTypeAxis__custom--MakeWholeSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zKCPgUNaWfhd" title="Per share value">10.00 minus the Adjustment Period VWAP and the denominator of which is the Adjustment Period VWAP. In the event that the Adjustment Period VWAP is less than $7.00, the Adjustment Period VWAP was deemed to be $7.00. The adjustment period ended on August 30, 2024. The Company issued <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--MakeWholeSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zo5JhKGRR6u6" title="New issues of Shares">1,052,029 shares of its Class A Common Stock to the PIPE Investors, the Sponsor and certain advisors in settlement of the liability for the Make-Whole Shares. The Make-Whole Shares were accounted for as liability-classified instruments because the events that determine the number of Make-Whole Shares issuable include events that are not solely indexed to the Company’s common stock. At the time of Closing, the Company estimated the aggregate fair value of its liability for the Make-Whole Shares using a Monte Carlo simulation model and recorded a liability of $<span id="xdx_909_ecustom--LiabilitiesRecognizedInConnectionWithTheMerger_pn3n3_c20231224__20231224__us-gaap--AwardTypeAxis__custom--MakeWholeSharesMember_zul2NAXnQV2f" title="Liability in connection with the merger">2,071. The fair value of the <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20231224__20231224__us-gaap--AwardTypeAxis__custom--MakeWholeSharesMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zQRzBIymv01l" title="New issues of Shares">1,052,029 shares of Class A Common Stock issued in settlement of the liability for the Make-Whole Shares was $<span id="xdx_900_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iI_pn3n3_c20231224__us-gaap--AwardTypeAxis__custom--MakeWholeSharesMember_zhHNixN7uNac" title="Liability to its estimated fair value">1,241. As a result of the decrease in the fair value of the liability, the Company recorded a non-cash gain of $830 for the year ended September 30, 2024, which is included in “Change in fair value of PIPE make-whole liability” in the consolidated statements of operations and comprehensive loss. See Note 17, Fair Value Measurements, for additional information on the Company’s measurements with respect to the financial instruments issued in connection with the foregoing agreements. Legacy Mobix incurred $<span id="xdx_904_eus-gaap--BusinessAcquisitionCostOfAcquiredEntityTransactionCosts_iI_pn3n3_c20231224__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember_z91YrzsbhQHd" title="Transaction costs">6,363 of transaction costs in connection with the Merger, which was determined to be a capital-raising transaction for Legacy Mobix. At the time of the Closing, the Company allocated this amount between the equity-classified instruments and liability-classified instruments, based on their relative fair values, and recorded the $2,354 of costs associated with equity-classified instruments as a reduction of additional paid-in capital and charged the remaining $4,009 of costs associated with liability-classified instruments to expense. The Company also recognized a liability for unpaid transaction costs of Chavant totaling $3,090, which the Company recorded as a reduction of the proceeds of the Merger at the time of the Closing. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The following tables reconcile elements of the Merger to the Company’s consolidated financial statements, and should be read in conjunction with the footnotes referenced above: Schedule of Condensed Consolidated Financial Statements <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20231221__20231221_zIwbKYkEPjAf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40B_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ChavantPublicSharesNetOfRedemptionsMember_z6Sq7uSApvdg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Chavant public shares, net of redemptions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">111,005</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ChavantFounderSharesNetOfSharesForfeitedMember_zTdNwnY3L6Ld" style="vertical-align: bottom; background-color: White"> <td>Chavant founder shares, net of shares forfeited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,341,369</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--PIPEInvestorsSharesMember_zMsoz3if9S1f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>PIPE investors’ shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,975,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--SettlementOfPIPEWarrantMember_zkqj46GtraY7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Settlement of PIPE warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199,800</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--SponsorPIPESubscriptionMember_zSbDHwveFKTe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Sponsor PIPE subscription</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199,737</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--SettlementOfSponsorWarrantMember_z674EcUS4jgc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Settlement of Sponsor Warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">272,182</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--SettlementOfWarrantToNonRedeemingShareholderMember_zKXU87Jaf3u6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Settlement of warrant to non-redeeming shareholder</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">202,489</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--AmendmentToBusinessCombinationMarketingAgreementMember_zY44vL7YRUea" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amendment to Business Combination Marketing Agreement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">280,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ChavantSharesOutstandingImmediatelyPriorToTheMergerMember_z5fMMVhkP0l2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Total Chavant shares outstanding immediately prior to the Merger</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,581,582</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--LegacyMobixRolloverSharesMember_zpGRc6WyXfD9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Legacy Mobix rollover shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,139,258</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ConversionOfLegacyMobixConvertibleNotesMember_z6JjeY2iPFJg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion of Legacy Mobix convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ConversionOfLegacyMobixSAFEsMember_zMlEAcPQOWp9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Conversion of Legacy Mobix SAFEs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">150,953</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zspPCN2APVz4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Total number of Class A common shares issued in the Merger</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">22,901,838</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Closing proceeds:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProceedsFromDecommissioningFund_pn3n3_zyp95MFLyUq9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Proceeds from Chavant trust fund</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,264</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProceedsFromSaleMaturityAndCollectionsOfInvestments_pn3n3_zNZNV4FNxkJk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Proceeds from PIPE investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,750</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Closing disbursements:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PaymentsForMergerRelatedCosts_iN_pn3n3_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember_zEU2Wpwjw78j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Legacy Mobix Merger-related transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,747</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--PaymentsForMergerRelatedCosts_iN_pn3n3_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChavantMember_zYPNznXf7Jkl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Chavant Merger-related transaction costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,219</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_ecustom--NetCashProceedsFromTheMerger_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChavantMember_zNfWaj31nPjj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Net cash proceeds from the Merger at Closing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,048</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--MobixTransactionCostsPaid_iN_pn3n3_di_zEOoIfy5dkJ7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Legacy Mobix Merger-related transaction costs paid prior to closing</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(983</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_ecustom--NetCashProceeds_pn3n3_zM7MUVptENnj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Net cash proceeds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,065</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-cash activity:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ConversionOfLegacyMobixConvertibleNotesToClassACommonStock_pn3n3_z3bdekF6dAEa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Conversion of Legacy Mobix convertible notes to Class A Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ConversionOfLegacyMobixSAFEsToClassACommonStock_pn3n3_zAXuoyL99mhe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Conversion of Legacy Mobix SAFEs to Class A Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,522</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ConversionOfStockAmountConverted1_pn3n3_z9DoYT2daLQ7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Conversion of Legacy Mobix redeemable convertible preferred stock to Class B Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,300</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1_iN_pn3n3_di_zdrw5FxzV5Ud" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Unpaid Merger-related transaction costs assumed from Chavant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(871</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--UnpaidTransactionCostsOfLegacyMobix_pn3n3_zXvpKjy6qxif" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Unpaid Merger-related transaction costs of Legacy Mobix</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,633</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--NoncashMergerRelatedCosts_pn3n3_zNJh4naRVWD1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Merger-related transaction costs expensed</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,009</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liability-classified instruments at closing:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--LiabilitiesRecognizedInConnectionWithTheMerger_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--EarnoutLiabilityMember_z3oLud8shD48" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Fair value of earnout liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,559</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--LiabilitiesRecognizedInConnectionWithTheMerger_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--PIPEMakeWholeLiabilityMember_zcZJeINdCQC4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Fair value of PIPE make-whole liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,071</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--LiabilitiesRecognizedInConnectionWithTheMerger_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--PrivateWarrantsMember_zNHcrflSqoE9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Fair value of Private Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(150</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_ecustom--StockIssuedDuringPeriodValueReverseRecapitalizationTransactionNet_pn3n3_zWcS8x90pdTf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 20pt">Net equity impact of the Merger</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(16,182</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> Subsequent to the Closing, the Company paid $982 of the Merger-related transaction costs and negotiated a $99 reduction of the unpaid transaction costs. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

18139258

2254901

30045

150953

6000000

3400000

1975000

10.00

19750000

1950000

0.01

200000 1750000

1500000

15000

199737

10.00

1997000

272454

0.01

272182

199737

1997000

658631

400000

73706

202692

0.01

202489

280000 3500000

1750000

12.50

1750000

15.00

33559000

1240000

1680000

440000

31879000

2454737

10.00

7.00 7.00

1052029

2071000

1052029

1241000

830000

6363000

2354000

4009000

3090000 The following tables reconcile elements of the Merger to the Company’s consolidated financial statements, and should be read in conjunction with the footnotes referenced above: Schedule of Condensed Consolidated Financial Statements <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20231221__20231221_zIwbKYkEPjAf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40B_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ChavantPublicSharesNetOfRedemptionsMember_z6Sq7uSApvdg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Chavant public shares, net of redemptions</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">111,005</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ChavantFounderSharesNetOfSharesForfeitedMember_zTdNwnY3L6Ld" style="vertical-align: bottom; background-color: White"> <td>Chavant founder shares, net of shares forfeited</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,341,369</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--PIPEInvestorsSharesMember_zMsoz3if9S1f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>PIPE investors’ shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,975,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--SettlementOfPIPEWarrantMember_zkqj46GtraY7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Settlement of PIPE warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199,800</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--SponsorPIPESubscriptionMember_zSbDHwveFKTe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Sponsor PIPE subscription</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">199,737</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--SettlementOfSponsorWarrantMember_z674EcUS4jgc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Settlement of Sponsor Warrant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">272,182</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--SettlementOfWarrantToNonRedeemingShareholderMember_zKXU87Jaf3u6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Settlement of warrant to non-redeeming shareholder</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">202,489</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--AmendmentToBusinessCombinationMarketingAgreementMember_zY44vL7YRUea" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Amendment to Business Combination Marketing Agreement</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">280,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ChavantSharesOutstandingImmediatelyPriorToTheMergerMember_z5fMMVhkP0l2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Total Chavant shares outstanding immediately prior to the Merger</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,581,582</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--LegacyMobixRolloverSharesMember_zpGRc6WyXfD9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Legacy Mobix rollover shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,139,258</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ConversionOfLegacyMobixConvertibleNotesMember_z6JjeY2iPFJg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Conversion of Legacy Mobix convertible notes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--AwardTypeAxis__custom--ConversionOfLegacyMobixSAFEsMember_zMlEAcPQOWp9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Conversion of Legacy Mobix SAFEs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">150,953</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--StockIssuedDuringPeriodSharesReverseRecapitalizationTransactionNet_hus-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zspPCN2APVz4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Total number of Class A common shares issued in the Merger</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">22,901,838</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Closing proceeds:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProceedsFromDecommissioningFund_pn3n3_zyp95MFLyUq9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Proceeds from Chavant trust fund</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,264</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProceedsFromSaleMaturityAndCollectionsOfInvestments_pn3n3_zNZNV4FNxkJk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Proceeds from PIPE investment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,750</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Closing disbursements:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--PaymentsForMergerRelatedCosts_iN_pn3n3_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LegacyMobixMember_zEU2Wpwjw78j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Legacy Mobix Merger-related transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,747</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--PaymentsForMergerRelatedCosts_iN_pn3n3_di_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChavantMember_zYPNznXf7Jkl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Chavant Merger-related transaction costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,219</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_ecustom--NetCashProceedsFromTheMerger_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ChavantMember_zNfWaj31nPjj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Net cash proceeds from the Merger at Closing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,048</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--MobixTransactionCostsPaid_iN_pn3n3_di_zEOoIfy5dkJ7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Legacy Mobix Merger-related transaction costs paid prior to closing</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(983</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_ecustom--NetCashProceeds_pn3n3_zM7MUVptENnj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Net cash proceeds</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,065</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Non-cash activity:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ConversionOfLegacyMobixConvertibleNotesToClassACommonStock_pn3n3_z3bdekF6dAEa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Conversion of Legacy Mobix convertible notes to Class A Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">206</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ConversionOfLegacyMobixSAFEsToClassACommonStock_pn3n3_zAXuoyL99mhe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Conversion of Legacy Mobix SAFEs to Class A Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,522</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ConversionOfStockAmountConverted1_pn3n3_z9DoYT2daLQ7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Conversion of Legacy Mobix redeemable convertible preferred stock to Class B Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,300</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NoncashOrPartNoncashAcquisitionOtherLiabilitiesAssumed1_iN_pn3n3_di_zdrw5FxzV5Ud" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Unpaid Merger-related transaction costs assumed from Chavant</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(871</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--UnpaidTransactionCostsOfLegacyMobix_pn3n3_zXvpKjy6qxif" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Unpaid Merger-related transaction costs of Legacy Mobix</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,633</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--NoncashMergerRelatedCosts_pn3n3_zNJh4naRVWD1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Merger-related transaction costs expensed</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,009</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liability-classified instruments at closing:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--LiabilitiesRecognizedInConnectionWithTheMerger_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--EarnoutLiabilityMember_z3oLud8shD48" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Fair value of earnout liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(33,559</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_ecustom--LiabilitiesRecognizedInConnectionWithTheMerger_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--PIPEMakeWholeLiabilityMember_zcZJeINdCQC4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Fair value of PIPE make-whole liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,071</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--LiabilitiesRecognizedInConnectionWithTheMerger_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--PrivateWarrantsMember_zNHcrflSqoE9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Fair value of Private Warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(150</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_ecustom--StockIssuedDuringPeriodValueReverseRecapitalizationTransactionNet_pn3n3_zWcS8x90pdTf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 20pt">Net equity impact of the Merger</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(16,182</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> 111005000 1341369000 1975000000 199800000 199737000 272182000 202489000 280000000 4581582000 18139258000 30045000 150953000 22901838000

1264000

19750000

3747000

2219000

15048000 983000 14065000 206000 1522000

2300000

871000

-1633000

4009000

-33559000 -2071000 -150000 -16182000

982000

99000

Note 4 — Acquisitions The Company acquired EMI Solutions, Inc. (“EMI Solutions”) in December 2023 and RaGE Systems, Inc. (“RaGE Systems”) in May 2024. The Company accounted for each of the acquisitions as a business combination. The following table summarizes the amount of the aggregate purchase consideration and the allocation to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. Schedule of Purchase Consideration and Allocation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231218__20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zxJtBiCiTFJf" style="border-bottom: Black 1pt solid; text-align: center">EMI Solutions</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240521__20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zyOWM4fEvFlc" style="border-bottom: Black 1pt solid; text-align: center">RaGE Systems</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Purchase consideration:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ContingentlyRedeemableCommonStock_pn3n3_zCu6sSif0Yt5" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left; padding-left: 10pt">Contingently redeemable common stock</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,856</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PurchaseConsiderationOfCommonStock_pn3n3_z9Q1Lu6UJMcl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Class A Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,682</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PaymentsToAcquireBusinessesGross_pn3n3_zjhbFJB9Oite" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Cash consideration (at present value)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,041</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,836</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessCombinationConsiderationTransferred1_pn3n3_zI0Jl0X9Tef1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total Purchase Consideration</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,897</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,518</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Allocation:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Cash</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zQKXYIXW0nL2" style="text-align: right" title="Cash">45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_z4q6Jy1cpnkf" style="text-align: right" title="Cash">420</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zUHFezsjwSo8" style="text-align: right" title="Accounts receivable">387</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zdLnQMiXdeQ6" style="text-align: right" title="Accounts receivable">558</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Inventory</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zqLzvZOl91Kj" style="text-align: right" title="Inventory">155</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zuaYdg0XBtx8" style="text-align: right" title="Inventory">1,146</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Other current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zM96TneDDA9f" style="text-align: right" title="Other current assets">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zdrxzzMHEwg4" style="text-align: right" title="Other current assets">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_z5ZnPsUjJQEd" style="text-align: right" title="Property and equipment">107</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zpkxs3s645ji" style="text-align: right" title="Property and equipment">275</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Intangible asset—customer relationships</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zV9X7G4om5y3" style="text-align: right" title="Intangible asset">4,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zXzz4YyLp2j" style="text-align: right" title="Intangible asset">7,400</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Intangible asset—developed technology</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zUTOO6gqPsf9" style="text-align: right" title="Intangible asset">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zIcvXMZ7b147" style="text-align: right" title="Intangible asset">300</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Intangible asset—backlog</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zDOSMXlA6Wg8" style="text-align: right" title="Intangible asset">300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_ztb4oIjKLoQ" style="text-align: right" title="Intangible asset">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Intangible asset—trade name</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameMember_zx13sGmrocS8" style="text-align: right" title="Intangible asset">100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameMember_z5KgvfmFYsX6" style="text-align: right" title="Intangible asset">200</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Goodwill_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zj9I0afEv4Sh" style="text-align: right" title="Goodwill">6,841</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Goodwill_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zQC1j2XvPlwi" style="text-align: right" title="Goodwill">4,008</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating lease right-of-use asset</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightofuseAsset_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zGw5ZiwpG9w5" style="text-align: right" title="Operating lease right-of-use asset">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightofuseAsset_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zjlWVecSOiGj" style="text-align: right" title="Operating lease right-of-use asset">192</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Other assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_z382R2lluAq8" style="text-align: right" title="Other assets">30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zJqAlVokcY72" style="text-align: right" title="Other assets">57</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_pn3n3_di_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zY3lW7DX2sv5" style="text-align: right" title="Accounts payable">(228</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_pn3n3_di_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zzPIp03dxnW5" style="text-align: right" title="Accounts payable">(1,647</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_pn3n3_di_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zu84tPh7j4jd" style="text-align: right" title="Accrued expenses">(263</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_pn3n3_di_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zQVYfqcGA73k" style="text-align: right" title="Accrued expenses">(1,622</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating lease liability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation_iNI_pn3n3_di_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_z5yW5uUCyoqf" style="text-align: right" title="Operating lease liability">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation_iNI_pn3n3_di_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zNjF9ThLGBR2" style="text-align: right" title="Operating lease liability">(192</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred tax liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iNI_pn3n3_di_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zNYQ04YGGbve" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred tax liability">(1,084</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iNI_pn3n3_di_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zINs8ZVzKmD6" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred tax liability">(1,582</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zc8ERpXoNSqg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total allocation">10,897</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zZq3cx0GVLfk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total allocation">9,518</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> EMI Solutions, Inc. On December 18, 2023, the Company completed the acquisition of EMI Solutions when the Company acquired all of the issued and outstanding common shares of EMI Solutions. EMI Solutions is a manufacturer of electromagnetic interference filtering products for military and aerospace applications. Consideration for the acquisition consisted of <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20231218__20231218__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zVZHqDb02p75" title="Consideration acquisition shares">964,912 shares of the Company’s common stock with an estimated fair value of $<span id="xdx_906_eus-gaap--BusinessCombinationAcquiredReceivablesFairValue_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zfCbhnwlk4N3" title="Estimated fair value">8,856 and $2,200 in cash. Of the cash portion of the consideration, the Company paid $155 at the time of the consummation of the acquisition and through September 30, 2025 the Company paid an additional $<span id="xdx_904_eus-gaap--BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCosts_iI_pn3n3_c20250930__us-gaap--BusinessAcquisitionAxis__us-gaap--SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_zocNarrHU2U3" title="Acquisition payable">1,522. The remaining $523 cash portion of the consideration is currently payable. The merger agreement with EMI Solutions provided that in the event that Legacy Mobix did not complete an initial public offering (including the Merger) within twenty-four months following the completion of the acquisition of EMI Solutions, the sellers could require the Company to pay all unpaid cash consideration and provided the sellers a “put right” wherein the sellers could require that the Company repurchase the <span id="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20231218__20231218__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zf8FW7vfFXK4" title="Consideration acquisition shares">964,912 shares of common stock for a cash amount equal to $6.84 per share. The Company evaluated the terms of the related agreement and concluded that the shares of common stock issued as consideration were contingently redeemable common stock, and required recognition as temporary equity, because the events that determine whether the Company will be required to repurchase the 964,912 shares of its common stock for cash were not within the Company’s control. At the time of completion of the acquisition, the Company estimated the fair value of the contingently redeemable common stock at $8,856, based upon the fair value of the Legacy Mobix common stock, adjusted to include the fair value of the put right. The Company estimated the fair value of the put right using the Black-Scholes option pricing model with the following assumptions: expected volatility of <span id="xdx_90B_eus-gaap--BusinessCombinationContingentConsiderationLiabilityMeasurementInput_iI_pid_uPure_c20231218__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember_zF4oGOeZk6qf" title="Business consideration measurement input">55.0%; <span id="xdx_902_eus-gaap--BusinessCombinationContingentConsiderationLiabilityMeasurementInput_iI_pid_uPure_c20231218__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zP62jU1IEaxc" title="Business consideration measurement input">no expected dividend yield; risk-free interest rate of <span id="xdx_909_eus-gaap--BusinessCombinationContingentConsiderationLiabilityMeasurementInput_iI_pid_uPure_c20231218__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zF4AEnikaEXc" title="Business consideration measurement input">4.5%; and a contractual term of <span id="xdx_90F_ecustom--BusinessCombinationContingentConsiderationLiabilityContractualTerm_iI_dc_c20231218__20231218__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember_zGARiBFKiM35" title="Business consideration contractual term">two years. The Company included this amount as part of the value of the purchase consideration. After the Closing of the Merger with Chavant on December 21, 2023, the common stock was no longer contingently redeemable, and the Company reclassified the value of the contingently redeemable common stock to permanent equity at its carrying value of $8,856, with no gain or loss recognized. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The Company estimated the useful lives of the customer relationships, trade name and backlog intangible assets are fifteen years, two years and one year, respectively. The goodwill is primarily attributed to expected synergies for the combined operations and is not deductible for income tax purposes. The operating results of EMI Solutions are included in the Company’s consolidated financial statements for periods subsequent to the acquisition date. The amounts of net revenue and net loss of EMI Solutions included in the Company’s consolidated statements of operations and comprehensive loss were $3,937 and $(312), respectively, for the year ended September 30, 2025 and $2,774 and $(887), respectively, for the year ended September 30, 2024. RaGE Systems, Inc. On May 21, 2024, the Company completed the acquisition of RaGE Systems when the Company acquired all of the issued and outstanding common shares of RaGE Systems pursuant to a business combination agreement (the “RaGE Business Combination Agreement”). RaGE Systems specializes in developing products for 5G communications, mmWave imaging, and software defined radio targeting the commercial, industrial, and defense and aerospace sectors. Aggregate consideration for the acquisition was $<span id="xdx_900_eus-gaap--BusinessCombinationConsiderationTransferred1_pn3n3_c20240521__20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zLDDvWKEa4z5" title="Aggregate consideration">9,518, consisting of 3,214,045 shares of the Company’s Class A Common Stock having a fair value of $7,682 and $2,000 in cash, of which the Company paid $200 during the year ended September 30, 2024 and as of September 30, 2025 the remaining $1,800 is currently payable. The Company also entered into employment agreements with each of the RaGE stockholders. The Company estimated the useful lives of the customer relationships, developed technology and trade name intangible assets are twelve years, seven years, and two and one-half years, respectively. The goodwill is primarily attributed to expected synergies for the combined operations and is not deductible for income tax purposes. Pursuant to the RaGE Business Combination Agreement, the RaGE stockholders are entitled to receive possible earnout payments of up to $8,000, payable in a combination of cash and shares of the Company’s Class A Common Stock, based upon both (i) the attainment of certain financial targets measured over calendar years 2024 and 2025 and (ii) continued employment with the Company (the “RaGE Earnout”). Because the RaGE Earnout arrangement is linked to continued employment with the Company in the post-acquisition period, the Company determined that the related cost must be recognized as an operating expense in the post-acquisition period, and no portion was accounted for as part of the purchase consideration. As of September 30, 2025 and 2024, the Company estimated the amount of the payments it expects to make under the RaGE Earnout, based upon its expectation of the level of achievement of the financial targets over the measurement periods and for the years ended September 30, 2025 and 2024, the Company recognized expense of $<span id="xdx_90C_eus-gaap--OtherSellingGeneralAndAdministrativeExpense_pn3n3_c20241001__20250930__us-gaap--BusinessAcquisitionAxis__custom--RageSystemsMember_ziuD1yQVWob" title="Selling, general and administrative expense">767 and $<span id="xdx_90D_eus-gaap--OtherSellingGeneralAndAdministrativeExpense_pn3n3_c20231001__20240930__us-gaap--BusinessAcquisitionAxis__custom--RageSystemsMember_zpQYc8ce0Yci" title="Selling, general and administrative expense">2,985, respectively, which is included in selling, general and administrative expenses in the consolidated statements of operations and comprehensive loss. During the year ended September 30, 2025, the Company issued the RaGE stockholders 642,809 shares of the Company’s Class A Common Stock in partial settlement of its liability under the RaGE Earnout. The operating results of RaGE Systems are included in the Company’s consolidated financial statements for periods subsequent to the acquisition date. The amounts of net revenue and net income of RaGE Systems included in the Company’s consolidated statements of operations and comprehensive loss were $5,836 and $586, respectively, for the year ended September 30, 2025 and $2,739 and $201, respectively, for the year ended September 30, 2024. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Pro forma information The following table shows unaudited pro forma net revenue and net loss of the Company, as if the acquisitions of EMI Solutions and RaGE Systems had each been completed as of October 1, 2022. The unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of future operations or results had the acquisitions occurred on October 1, 2022. Schedule of Unaudited ProForma Net Revenues and Net income (Loss) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20231001__20240930_zoEwze0jHHta" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Year ended September 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--BusinessAcquisitionsProFormaRevenue_pn3n3_zANQI7wqdjFh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Net revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">10,268</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_pn3n3_zUqCHnAxFB55" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,436</td><td style="text-align: left">)</td></tr> </table>

The Company acquired EMI Solutions, Inc. (“EMI Solutions”) in December 2023 and RaGE Systems, Inc. (“RaGE Systems”) in May 2024. The Company accounted for each of the acquisitions as a business combination. The following table summarizes the amount of the aggregate purchase consideration and the allocation to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. Schedule of Purchase Consideration and Allocation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20231218__20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zxJtBiCiTFJf" style="border-bottom: Black 1pt solid; text-align: center">EMI Solutions</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20240521__20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zyOWM4fEvFlc" style="border-bottom: Black 1pt solid; text-align: center">RaGE Systems</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Purchase consideration:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--ContingentlyRedeemableCommonStock_pn3n3_zCu6sSif0Yt5" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left; padding-left: 10pt">Contingently redeemable common stock</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">8,856</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_ecustom--PurchaseConsiderationOfCommonStock_pn3n3_z9Q1Lu6UJMcl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Class A Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,682</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PaymentsToAcquireBusinessesGross_pn3n3_zjhbFJB9Oite" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Cash consideration (at present value)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,041</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,836</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--BusinessCombinationConsiderationTransferred1_pn3n3_zI0Jl0X9Tef1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total Purchase Consideration</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,897</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,518</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Allocation:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Cash</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zQKXYIXW0nL2" style="text-align: right" title="Cash">45</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_z4q6Jy1cpnkf" style="text-align: right" title="Cash">420</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zUHFezsjwSo8" style="text-align: right" title="Accounts receivable">387</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zdLnQMiXdeQ6" style="text-align: right" title="Accounts receivable">558</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Inventory</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zqLzvZOl91Kj" style="text-align: right" title="Inventory">155</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zuaYdg0XBtx8" style="text-align: right" title="Inventory">1,146</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Other current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zM96TneDDA9f" style="text-align: right" title="Other current assets">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zdrxzzMHEwg4" style="text-align: right" title="Other current assets">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Property and equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_z5ZnPsUjJQEd" style="text-align: right" title="Property and equipment">107</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zpkxs3s645ji" style="text-align: right" title="Property and equipment">275</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Intangible asset—customer relationships</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zV9X7G4om5y3" style="text-align: right" title="Intangible asset">4,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zXzz4YyLp2j" style="text-align: right" title="Intangible asset">7,400</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Intangible asset—developed technology</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zUTOO6gqPsf9" style="text-align: right" title="Intangible asset">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zIcvXMZ7b147" style="text-align: right" title="Intangible asset">300</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Intangible asset—backlog</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zDOSMXlA6Wg8" style="text-align: right" title="Intangible asset">300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_ztb4oIjKLoQ" style="text-align: right" title="Intangible asset">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Intangible asset—trade name</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameMember_zx13sGmrocS8" style="text-align: right" title="Intangible asset">100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--TradeNameMember_z5KgvfmFYsX6" style="text-align: right" title="Intangible asset">200</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Goodwill_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zj9I0afEv4Sh" style="text-align: right" title="Goodwill">6,841</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Goodwill_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zQC1j2XvPlwi" style="text-align: right" title="Goodwill">4,008</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating lease right-of-use asset</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightofuseAsset_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zGw5ZiwpG9w5" style="text-align: right" title="Operating lease right-of-use asset">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightofuseAsset_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zjlWVecSOiGj" style="text-align: right" title="Operating lease right-of-use asset">192</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Other assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_z382R2lluAq8" style="text-align: right" title="Other assets">30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zJqAlVokcY72" style="text-align: right" title="Other assets">57</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_pn3n3_di_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zY3lW7DX2sv5" style="text-align: right" title="Accounts payable">(228</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_pn3n3_di_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zzPIp03dxnW5" style="text-align: right" title="Accounts payable">(1,647</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Accrued expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_pn3n3_di_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zu84tPh7j4jd" style="text-align: right" title="Accrued expenses">(263</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_pn3n3_di_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zQVYfqcGA73k" style="text-align: right" title="Accrued expenses">(1,622</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Operating lease liability</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation_iNI_pn3n3_di_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_z5yW5uUCyoqf" style="text-align: right" title="Operating lease liability">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation_iNI_pn3n3_di_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zNjF9ThLGBR2" style="text-align: right" title="Operating lease liability">(192</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Deferred tax liability</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iNI_pn3n3_di_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zNYQ04YGGbve" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred tax liability">(1,084</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iNI_pn3n3_di_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zINs8ZVzKmD6" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred tax liability">(1,582</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_pn3n3_c20231218__us-gaap--BusinessAcquisitionAxis__custom--EMISolutionsIncMember_zc8ERpXoNSqg" style="border-bottom: Black 2.5pt double; text-align: right" title="Total allocation">10,897</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_pn3n3_c20240521__us-gaap--BusinessAcquisitionAxis__custom--RaGESystemsIncMember_zZq3cx0GVLfk" style="border-bottom: Black 2.5pt double; text-align: right" title="Total allocation">9,518</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

8856000 7682000

2041000

1836000

10897000

9518000

45000

420000

387000

558000

155000

1146000

7000

5000

107000

275000

4500000

7400000

300000

100000

200000

6841000

4008000

192000

30000

57000

228000

1647000

263000

1622000

192000

1084000

1582000

10897000

9518000

964912

8856000

2200000

155000

1522000

523000

964912

6.84

964912

8856000

55.0

4.5

P2Y

8856000

3937000

312000

2774000

887000

9518000

3214045

7682000

2000000

200000

1800000

8000000

767000

2985000

642809

5836000

586000

2739000

201000

The following table shows unaudited pro forma net revenue and net loss of the Company, as if the acquisitions of EMI Solutions and RaGE Systems had each been completed as of October 1, 2022. The unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of future operations or results had the acquisitions occurred on October 1, 2022. Schedule of Unaudited ProForma Net Revenues and Net income (Loss) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" id="xdx_493_20231001__20240930_zoEwze0jHHta" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Year ended September 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--BusinessAcquisitionsProFormaRevenue_pn3n3_zANQI7wqdjFh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 78%; text-align: left">Net revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">10,268</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_pn3n3_zUqCHnAxFB55" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,436</td><td style="text-align: left">)</td></tr> </table>

10268000

-21436000

Note 5 — Inventory Inventory consists of the following: Schedule of Inventory <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_497_20250930_znPtYD3YIvjk" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49C_20240930_z71gLpkbaLm9" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzh5E_zgKzpSK1Dc7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">999</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,550</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzh5E_zy5RLo9UJZDa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">436</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--InventoryNet_iTI_pn3n3_mtINzh5E_z5d7haAJjFdg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Total inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,435</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,725</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Inventory consists of the following: Schedule of Inventory <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_497_20250930_znPtYD3YIvjk" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49C_20240930_z71gLpkbaLm9" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzh5E_zgKzpSK1Dc7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">999</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,550</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzh5E_zy5RLo9UJZDa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Finished goods</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">436</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--InventoryNet_iTI_pn3n3_mtINzh5E_z5d7haAJjFdg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Total inventory</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,435</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,725</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

999000

1550000

436000

175000

1435000

1725000

Note 6 — Property and Equipment, net Property and equipment, net consists of the following: Schedule of Property and Equipment, Net <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49B_20250930_zOSSYOitMAFk" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49A_20240930_zi5K9vgTZZz1" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: center">Estimated Useful Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(years)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndFurnitureMember_zmMYA7zsnMre" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Equipment and furniture</td><td style="width: 2%"> </td> <td style="width: 20%; text-align: center"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndFurnitureMember__srt--RangeAxis__srt--MinimumMember_z5R9Z0WqfTzb" title="Estimaed useful life">5 - <span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndFurnitureMember__srt--RangeAxis__srt--MaximumMember_z9WQEIOW5Nga" title="Estimaed useful life">7</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">400</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">948</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LaboratoryEquipmentMember_zeWaTXmyaEqf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Laboratory equipment</td><td> </td> <td style="text-align: center">5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">681</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">687</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zzOZKluPXza" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-bottom: 1pt">Leasehold improvements</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zWuDxyw4MiFg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember">Shorter of estimated useful life or remaining lease term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">891</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzk0D_zVxnCUotjt66" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment, gross</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,526</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzk0D_zdRJGlaKqyqe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(794</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,349</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzk0D_zQOJLDlnjz6c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">328</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,177</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expense for the years ended September 30, 2025 and 2024 was $366 and $472, respectively. During the year ended September 30, 2025, the Company recognized losses of $472 on the disposal of certain assets, principally consisting of equipment and furniture and leasehold improvements, at a leased office the Company vacated. Such losses are principally included in selling, general and administrative expenses in the consolidated statements of operations and comprehensive loss. During the year ended September 30, 2024, the Company wrote off certain tooling having a carrying value of $584 which management determined it would not use in production. The charge is included in “Research and development” in the consolidated statements of operations and comprehensive loss. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

Property and equipment, net consists of the following: Schedule of Property and Equipment, Net <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49B_20250930_zOSSYOitMAFk" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49A_20240930_zi5K9vgTZZz1" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; font-weight: bold; text-align: center">Estimated Useful Life</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(years)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndFurnitureMember_zmMYA7zsnMre" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Equipment and furniture</td><td style="width: 2%"> </td> <td style="width: 20%; text-align: center"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndFurnitureMember__srt--RangeAxis__srt--MinimumMember_z5R9Z0WqfTzb" title="Estimaed useful life">5 - <span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--EquipmentAndFurnitureMember__srt--RangeAxis__srt--MaximumMember_z9WQEIOW5Nga" title="Estimaed useful life">7</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">400</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">948</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LaboratoryEquipmentMember_zeWaTXmyaEqf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Laboratory equipment</td><td> </td> <td style="text-align: center">5</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">681</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">687</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zzOZKluPXza" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left; padding-bottom: 1pt">Leasehold improvements</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"><span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLifeDescriptionOfTermExtensibleEnumeration_iI_dxL_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zWuDxyw4MiFg" title="::XDX::http%3A%2F%2Ffasb.org%2Fus-gaap%2F2025%23UsefulLifeTermOfLeaseMember">Shorter of estimated useful life or remaining lease term</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">41</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">891</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzk0D_zVxnCUotjt66" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment, gross</td><td> </td> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,122</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,526</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzk0D_zdRJGlaKqyqe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(794</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,349</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzk0D_zQOJLDlnjz6c" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">328</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,177</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

P5Y

P7Y

400000

948000

P5Y

681000

687000

41000

891000

1122000

2526000

794000

1349000

328000

1177000

366000

472000

584000

Note 7 — Intangible Assets, net Intangible assets, net consist of the following: Schedule of Intangible Assets, Net <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Estimated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Useful Life (years)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left">Developed technology</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: center"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember__srt--RangeAxis__srt--MinimumMember_zdIpJ1WwWvH7" title="Estimated useful life">7 – <span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember__srt--RangeAxis__srt--MaximumMember_zObL3IDy3Hma" title="Estimated useful life">10</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_z4FMlsH1jjz2" style="width: 5%; text-align: right" title="Intangiable assets, gross">5,689</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zEsY1fSzxRT8" style="width: 5%; text-align: right" title="Intangiable assets, accumulated amortization">(2,798</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zOnzL7J7SALi" style="width: 5%; text-align: right" title="Intangiable assets, net">2,891</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zeAiqp31xxyd" style="width: 5%; text-align: right" title="Intangiable assets, gross">5,689</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zO4m4yA8aUP9" style="width: 5%; text-align: right" title="Intangiable assets, accumulated amortization">(2,216</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_z63Cj6Kcg8Xi" style="width: 5%; text-align: right" title="Intangiable assets, net">3,473</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember__srt--RangeAxis__srt--MinimumMember_zVBkRroqBGd6" title="Estimated useful life">12 – <span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember__srt--RangeAxis__srt--MaximumMember_zGSUKmNyGtwg" title="Estimated useful life">15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zMrM2JYYW2q6" style="text-align: right" title="Intangiable assets, gross">11,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zTXE1DzhjO3i" style="text-align: right" title="Intangiable assets, accumulated amortization">(1,374</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zqg1QMbz74b3" style="text-align: right" title="Intangiable assets, net">10,526</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zg3LUv44BLi7" style="text-align: right" title="Intangiable assets, gross">11,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zGa5vaQTPr3k" style="text-align: right" title="Intangiable assets, accumulated amortization">(458</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zuFfg0tcewD" style="text-align: right" title="Intangiable assets, net">11,442</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade names</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_909_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember__srt--RangeAxis__srt--MinimumMember_zWemKdE6tmd8" title="Estimated useful life">2 – <span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember__srt--RangeAxis__srt--MaximumMember_zJWfQePdo6Tk" title="Estimated useful life">2.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zFKfWvxQBxb5" style="text-align: right" title="Intangiable assets, gross">300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_z3fi8AGYOb4g" style="text-align: right" title="Intangiable assets, accumulated amortization">(198</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zmQjzVo1j8d2" style="text-align: right" title="Intangiable assets, net">102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zpHucb8LfPkl" style="text-align: right" title="Intangiable assets, gross">300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zlCJUSUnmaV9" style="text-align: right" title="Intangiable assets, accumulated amortization">(68</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zrRw6yHzyVU5" style="text-align: right" title="Intangiable assets, net">232</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Backlog</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: center">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zAiIbOOCheQ7" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, gross">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zTBz2ggLV4me" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, accumulated amortization">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zJKhHMWsywYh" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, net">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zA3KasFleFl8" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, gross">300</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zaKta43ATjhc" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, accumulated amortization">(236</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_z5x6WruP6r11" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, net">64</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930_zphxrZDdQmBg" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, gross">17,889</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930_zSo8jZvpL82e" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, accumulated amortization">(4,370</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930_zqS6frywQT6" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, net">13,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930_zXumuObsQ7Qf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, gross">18,189</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930_zxTFKgcNdZY7" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, accumulated amortization">(2,978</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930_zn8iZCXsaOti" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, net">15,211</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company recorded amortization expense related to intangible assets of $1,692 and $1,543 during the years ended September 30, 2025 and 2024, respectively. The weighted-average remaining lives of intangible assets as of September 30, 2025 were developed technology 5.0 years; customer relationships <span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241001__20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zIDADwLAPyc3" title="Weighted-average remaining lives of intangible assets">11.6 years; and trade names <span id="xdx_90F_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20241001__20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_znRGTCnxqTE6" title="Weighted-average remaining lives of intangible assets">1.0 years. During the year ended September 30, 2024, as a result of declining sales of AOCs and strategic decisions on investment across the Company’s product groups, the Company tested the related long-lived assets for possible impairment. Based on this test, the Company concluded that the carrying value of the AOCs asset group exceeded its estimated fair value, and the Company recorded an impairment charge of $1,333 to write down the carrying value of the long-lived assets (consisting of developed technology and customer relationships). The Company estimated the fair value of the AOCs asset group using a discounted cash flow model. <p id="xdx_89E_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z7uQIC2Ttf9i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Estimated future amortization expense for intangible assets by fiscal year as of September 30, 2025 is as follows: Schedule of Estimated Future Amortization Expense for Intangible Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Years ending September 30,</td><td> </td> <td colspan="2" id="xdx_49B_20250930_zm6HtvkAUcji"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANzsBC_zuXeepLSb4ae" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,590</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANzsBC_zJRdkKbxLihk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,510</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANzsBC_zNW3YCgJJUT2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANzsBC_zMBHOqBxaPQ5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_maFLIANzsBC_zfdSyZgBPil8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,454</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_pn3n3_maFLIANzsBC_zoMuX0Jtkw5j" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,969</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzsBC_zerRVCbdSkea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Intangible assets, net consist of the following: Schedule of Intangible Assets, Net <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Estimated</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center">Useful Life (years)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gross</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Accumulated Amortization</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Net</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left">Developed technology</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: center"><span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember__srt--RangeAxis__srt--MinimumMember_zdIpJ1WwWvH7" title="Estimated useful life">7 – <span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember__srt--RangeAxis__srt--MaximumMember_zObL3IDy3Hma" title="Estimated useful life">10</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_z4FMlsH1jjz2" style="width: 5%; text-align: right" title="Intangiable assets, gross">5,689</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zEsY1fSzxRT8" style="width: 5%; text-align: right" title="Intangiable assets, accumulated amortization">(2,798</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zOnzL7J7SALi" style="width: 5%; text-align: right" title="Intangiable assets, net">2,891</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zeAiqp31xxyd" style="width: 5%; text-align: right" title="Intangiable assets, gross">5,689</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zO4m4yA8aUP9" style="width: 5%; text-align: right" title="Intangiable assets, accumulated amortization">(2,216</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_z63Cj6Kcg8Xi" style="width: 5%; text-align: right" title="Intangiable assets, net">3,473</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember__srt--RangeAxis__srt--MinimumMember_zVBkRroqBGd6" title="Estimated useful life">12 – <span id="xdx_906_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember__srt--RangeAxis__srt--MaximumMember_zGSUKmNyGtwg" title="Estimated useful life">15</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zMrM2JYYW2q6" style="text-align: right" title="Intangiable assets, gross">11,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zTXE1DzhjO3i" style="text-align: right" title="Intangiable assets, accumulated amortization">(1,374</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zqg1QMbz74b3" style="text-align: right" title="Intangiable assets, net">10,526</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zg3LUv44BLi7" style="text-align: right" title="Intangiable assets, gross">11,900</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zGa5vaQTPr3k" style="text-align: right" title="Intangiable assets, accumulated amortization">(458</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zuFfg0tcewD" style="text-align: right" title="Intangiable assets, net">11,442</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trade names</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"><span id="xdx_909_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember__srt--RangeAxis__srt--MinimumMember_zWemKdE6tmd8" title="Estimated useful life">2 – <span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember__srt--RangeAxis__srt--MaximumMember_zJWfQePdo6Tk" title="Estimated useful life">2.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zFKfWvxQBxb5" style="text-align: right" title="Intangiable assets, gross">300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_z3fi8AGYOb4g" style="text-align: right" title="Intangiable assets, accumulated amortization">(198</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zmQjzVo1j8d2" style="text-align: right" title="Intangiable assets, net">102</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zpHucb8LfPkl" style="text-align: right" title="Intangiable assets, gross">300</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zlCJUSUnmaV9" style="text-align: right" title="Intangiable assets, accumulated amortization">(68</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TradeNamesMember_zrRw6yHzyVU5" style="text-align: right" title="Intangiable assets, net">232</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Backlog</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: center">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zAiIbOOCheQ7" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, gross">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zTBz2ggLV4me" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, accumulated amortization">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zJKhHMWsywYh" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, net">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zA3KasFleFl8" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, gross">300</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_zaKta43ATjhc" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, accumulated amortization">(236</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--BacklogMember_z5x6WruP6r11" style="border-bottom: Black 1pt solid; text-align: right" title="Intangiable assets, net">64</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20250930_zphxrZDdQmBg" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, gross">17,889</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20250930_zSo8jZvpL82e" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, accumulated amortization">(4,370</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20250930_zqS6frywQT6" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, net">13,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20240930_zXumuObsQ7Qf" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, gross">18,189</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iI_pn3n3_c20240930_zxTFKgcNdZY7" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, accumulated amortization">(2,978</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20240930_zn8iZCXsaOti" style="border-bottom: Black 2.5pt double; text-align: right" title="Intangiable assets, net">15,211</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

P7Y

P10Y

5689000

-2798000

2891000

5689000

-2216000

3473000

P12Y

P15Y

11900000

-1374000

10526000

11900000

-458000

11442000

P2Y

P2Y6M

300000

-198000

102000

300000

-68000

232000

P1Y

300000

-236000

64000

17889000

-4370000

13519000

18189000

-2978000

15211000

1692000

1543000

P5Y

P11Y7M6D

P1Y

1333000

<p id="xdx_89E_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_z7uQIC2Ttf9i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Estimated future amortization expense for intangible assets by fiscal year as of September 30, 2025 is as follows: Schedule of Estimated Future Amortization Expense for Intangible Assets <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid">Years ending September 30,</td><td> </td> <td colspan="2" id="xdx_49B_20250930_zm6HtvkAUcji"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANzsBC_zuXeepLSb4ae" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,590</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANzsBC_zJRdkKbxLihk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,510</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANzsBC_zNW3YCgJJUT2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANzsBC_zMBHOqBxaPQ5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,498</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFive_iI_pn3n3_maFLIANzsBC_zfdSyZgBPil8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,454</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_iI_pn3n3_maFLIANzsBC_zoMuX0Jtkw5j" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,969</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzsBC_zerRVCbdSkea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,519</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1590000

1510000

1498000

1454000

5969000

13519000

Note 8 — Goodwill The following table summarizes changes in the carrying amount of goodwill during the years ended September 30, 2024. There were no changes in the carrying amount of goodwill during the year ended September 30, 2025. Schedule of Changes in Carrying Amount of Goodwill <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: center"> </td><td style="display: none; text-align: center"> </td> <td style="display: none; text-align: center"> </td><td id="xdx_49E_20231001__20240930_zeTW9yOcaD84" style="display: none; text-align: center"> </td><td style="display: none; text-align: center"> </td></tr> <tr id="xdx_40E_eus-gaap--Goodwill_iS_zmVwhKVp9uv" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance at September 30, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,217</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Goodwill_iS_zxIhp74A7wLa" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none">Balance </td><td style="display: none"> </td> <td style="display: none; text-align: left">$</td><td style="display: none; text-align: right">5,217</td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GoodwillAcquiredDuringPeriod_zoRdWjQYcvOh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Acquisition of EMI Solutions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,841</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--GoodwillAcquiredDuringPeriodOne_zazRuojXKJc4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Acquisition of RaGE Systems</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,008</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--Goodwill_iE_zjDGAwLmpYd3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at September 30, 2024 and 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--Goodwill_iE_c20250930_zUhQxjG0gkJf" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">16,066</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Goodwill_iE_zICPccj6GtFb" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; padding-bottom: 2.5pt">Balance </td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">16,066</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company performed its annual goodwill assessment as of July 31. The Company assessed all relevant qualitative factors to determine whether it was more likely than not that the fair value of a reporting unit was less than its carrying amount. Based on this assessment, the Company concluded that it was more likely than not that the fair value of each reporting unit was greater than its carrying amount, and that a quantitative goodwill impairment test was not necessary. The Company recorded no impairment charges on goodwill for the years ended September 30, 2025 and 2024. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

The following table summarizes changes in the carrying amount of goodwill during the years ended September 30, 2024. There were no changes in the carrying amount of goodwill during the year ended September 30, 2025. Schedule of Changes in Carrying Amount of Goodwill <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: center"> </td><td style="display: none; text-align: center"> </td> <td style="display: none; text-align: center"> </td><td id="xdx_49E_20231001__20240930_zeTW9yOcaD84" style="display: none; text-align: center"> </td><td style="display: none; text-align: center"> </td></tr> <tr id="xdx_40E_eus-gaap--Goodwill_iS_zmVwhKVp9uv" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%">Balance at September 30, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,217</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--Goodwill_iS_zxIhp74A7wLa" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none">Balance </td><td style="display: none"> </td> <td style="display: none; text-align: left">$</td><td style="display: none; text-align: right">5,217</td><td style="display: none; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--GoodwillAcquiredDuringPeriod_zoRdWjQYcvOh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Acquisition of EMI Solutions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,841</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--GoodwillAcquiredDuringPeriodOne_zazRuojXKJc4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Acquisition of RaGE Systems</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,008</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--Goodwill_iE_zjDGAwLmpYd3" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Balance at September 30, 2024 and 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--Goodwill_iE_c20250930_zUhQxjG0gkJf" style="border-bottom: Black 2.5pt double; text-align: right" title="Balance">16,066</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--Goodwill_iE_zICPccj6GtFb" style="display: none; vertical-align: bottom; background-color: White"> <td style="display: none; padding-bottom: 2.5pt">Balance </td><td style="display: none; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; display: none; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; display: none; text-align: right">16,066</td><td style="display: none; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5217000

6841000

4008000

16066000

Note 9 — Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: Schedule of Accrued Expenses and Other Current Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49E_20250930_zoSUA5Q54uQ4" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_497_20240930_zGZryQ4tPJkb" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--WorkersCompensationLiabilityCurrent_iI_pn3n3_maALCzNqM_z9S9ZlbQzr76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Accrued compensation and benefits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,212</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,770</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maALCzNqM_zE26dH3tAsdj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">694</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">340</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzNqM_zQas9TpPqmO" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">393</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">177</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_maALCzNqM_zJcNT2DgHQdk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,047</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,076</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--CommittedEquityFacilityFeesCurrent_iI_pn3n3_maALCzNqM_zzag9gAFhqeb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Committed equity facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,553</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--UnpaidMergerRelatedTransactionCostsCurrent_iI_pn3n3_maALCzNqM_z1TwJsEcPo7a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unpaid Merger-related transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,090</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,090</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--EarnoutCurrent_iI_pn3n3_maALCzNqM_zCH7KDMnrP8k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">RaGE Earnout</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,098</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzNqM_zhiIVHyD1dIe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,208</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,221</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzNqM_zdRavPO4f5ff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Total accrued expenses and other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,122</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,325</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accrued expenses and other current liabilities consist of the following: Schedule of Accrued Expenses and Other Current Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49E_20250930_zoSUA5Q54uQ4" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_497_20240930_zGZryQ4tPJkb" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--WorkersCompensationLiabilityCurrent_iI_pn3n3_maALCzNqM_z9S9ZlbQzr76" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Accrued compensation and benefits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,212</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,770</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maALCzNqM_zE26dH3tAsdj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">694</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">340</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--InterestPayableCurrent_iI_pn3n3_maALCzNqM_zQas9TpPqmO" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued interest</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">393</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">177</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredRevenueCurrent_iI_pn3n3_maALCzNqM_zJcNT2DgHQdk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,047</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,076</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--CommittedEquityFacilityFeesCurrent_iI_pn3n3_maALCzNqM_zzag9gAFhqeb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Committed equity facility fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,478</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,553</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--UnpaidMergerRelatedTransactionCostsCurrent_iI_pn3n3_maALCzNqM_z1TwJsEcPo7a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unpaid Merger-related transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,090</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,090</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--EarnoutCurrent_iI_pn3n3_maALCzNqM_zCH7KDMnrP8k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">RaGE Earnout</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,098</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzNqM_zhiIVHyD1dIe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,208</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,221</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzNqM_zdRavPO4f5ff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Total accrued expenses and other current liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">11,122</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,325</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1212000

1770000

694000

340000

393000

177000

1047000

1076000

1478000 1553000 1090000 1090000 2000000 2098000

3208000

2221000

11122000

10325000

Note 10 — Debt Debt consists of the following: Schedule of Debt <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49B_20250930_z6xid2gtRqT7" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_492_20240930_zEoTqsFZjxkf" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--NotesPayable_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zuDSGSyQNPUl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Notes payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,934</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">598</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--NotesPayable_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--SevenPercentagePromissoryNotesMember_zVDT7Be1nSua" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">7% promissory notes – related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,251</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,495</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NotesPayable_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ztoTrtev1uec" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Notes payable – related parties</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">330</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--NotesPayable_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z15G8gZE7Ez4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left; padding-bottom: 1pt">Notes payable</td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: left"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">—</td><td style="display: none; padding-bottom: 1pt; text-align: left"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: left"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">330</td><td style="display: none; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebt_iI_pn3n3_zBaTyJC9aftl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Total debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,423</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DebtCurrent_iNI_pn3n3_di_znPtZjoqxtm" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Amounts classified as current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,086</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,141</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_z3pjYmxQSak" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Noncurrent portion</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,099</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,282</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Notes Payable During the year ended September 30, 2025, the Company entered into three notes payable with financial institutions for net proceeds of $<span id="xdx_90C_eus-gaap--ProceedsFromNotesPayable_pn3n3_c20241001__20250930__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember_zVyUKVwdqxDd" title="Proceeds from the issuance of notes payable">1,734. The notes have terms of seven to eighteen months and require weekly payments, including finance charges, totaling $2,791. The notes are secured by substantially all of the Company’s assets and one note is guaranteed by an officer and director of the Company. The Company also entered into four additional notes payable having an aggregate principal amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zClWtEDNA3Ai" title="Principal amount">1,275 with unrelated investors to meet its working capital needs. Net proceeds from the issuance of the notes were $<span id="xdx_90F_eus-gaap--ProceedsFromNotesPayable_pn3n3_c20241001__20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zDQ2g3UzvnJa" title="Net proceeds">1,152. Two of the notes bear interest at rates ranging from <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember__srt--RangeAxis__srt--MinimumMember_zBGCtFesZZq4" title="Interest rate, percentage">7% to <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember__srt--RangeAxis__srt--MaximumMember_z78iFU1adm19" title="Interest rate, percentage">12% per annum; the remaining notes were issued at a discount and bear no interest. <span id="xdx_904_eus-gaap--DebtInstrumentMaturityDateDescription_c20241001__20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zR2nK399hX3" title="Maturity date, description">The notes mature at various dates from February 2025 to August 2026. One note requires monthly principal payments of $<span id="xdx_907_eus-gaap--DebtInstrumentPeriodicPayment_pn3n3_c20241001__20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zOq76gWD28j5" title="Periodic payment">103 commencing in March 2026; the remainder of the notes require payment of the principal balance upon maturity. One note, having a principal amount of $<span id="xdx_90B_eus-gaap--DebtInstrumentAnnualPrincipalPayment_iI_pn3n3_c20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zaHC08QhwUqb" title="Principal balance">550, provides that the principal and accrued interest thereon, totaling $<span id="xdx_905_eus-gaap--DebtDefaultLongtermDebtAmount_iI_pn3n3_c20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zFt9aqjERvJg" title="Total principal and accrued interest">616, may at the option of the investor be converted into shares of the Company’s Class A Common Stock at any time prior to maturity in August 2026. The Company also entered into a stock pledge agreement with an investor, pursuant to which the Company issued <span id="xdx_90C_eus-gaap--SharesIssued_iI_pn3n3_c20250930__us-gaap--DebtInstrumentAxis__custom--FourAdditionalNotesPayableMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAlo3vMyfAHc" title="Shares issued">1,500,000 shares of its Class A Common Stock as security for the Company’s payment of amounts owed under the note. While such shares are held as collateral the investor is entitled to voting and other rights relating to the shares and, in the event of a default by the Company, the investor would be entitled to sell the pledged shares and apply the proceeds to the balance due under the note. Upon the Company’s repayment of the note, all interest in the pledged shares will revert to the Company. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) In connection with the issuance of two notes payable, during the year ended September 30, 2025, the Company issued <span id="xdx_902_eus-gaap--SharesIssued_iI_pn3n3_c20250930__us-gaap--DebtInstrumentAxis__custom--TwoNotesPayableMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zQWS0cXqi9I8" title="Shares issued">343,750 shares of its Class A Common Stock to the investors. The Company accounted for the shares at their fair value of $212 which was recorded as an increase to additional paid-in capital and as a discount to notes payable on the consolidated balance sheet. During the year ended September 30, 2025, the Company entered into three agreements for the purchase and sale of future receipts with unrelated buyers, pursuant to which the Company agreed to sell to the buyers certain future trade receipts in the aggregate amount of $<span id="xdx_900_ecustom--FutureReceiptsPurchasedAmount_pn3n3_c20241001__20250930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember_zWY0HRnYTcZa" title="Future receipts purchased, amount">4,417 (the “Future Receipts Purchased Amount”) for net proceeds to the Company of $2,430. Under the agreements, the Company granted the buyers a security interest in all of the Company’s present and future accounts receivable in an amount not to exceed the Future Receipts Purchased Amount. The Company must repay the Future Receipts Purchased Amount in varying weekly installments through March 2026. During the year ended September 30, 2024, the Company entered into six promissory notes having an aggregate principal amount of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_iI_pn3n3_c20240930__us-gaap--DebtInstrumentAxis__custom--SixPromissoryNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zosRsVxggHD7" title="Principal amount">1,069 with unrelated investors to meet its working capital needs. The Company also issued convertible notes with an aggregate principal amount of $<span id="xdx_904_eus-gaap--ConvertibleNotesPayable_iI_pn3n3_c20240930__us-gaap--DebtInstrumentAxis__custom--SixPromissoryNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zbyjTQHrGlCk" title="Convertible notes payable">200 to unrelated investors. Net proceeds from the issuance of the notes were $<span id="xdx_903_eus-gaap--ProceedsFromNotesPayable_pn3n3_c20231001__20240930__us-gaap--DebtInstrumentAxis__custom--SixPromissoryNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zaToKEflfgA4" title="Proceeds from the issuance of notes payable">1,198. The notes bear interest at rates ranging from <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240930__us-gaap--DebtInstrumentAxis__custom--SixPromissoryNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember__srt--RangeAxis__srt--MinimumMember_zrUx7FN1iYlc" title="Interest rate, percentage">6% to <span id="xdx_90F_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240930__us-gaap--DebtInstrumentAxis__custom--SixPromissoryNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember__srt--RangeAxis__srt--MaximumMember_zQCErEQA1l5d" title="Interest rate, percentage">76% per annum; one note was issued at a discount and bears no interest. <span id="xdx_90E_eus-gaap--DebtInstrumentMaturityDateDescription_c20241001__20250930__us-gaap--DebtInstrumentAxis__custom--SixPromissoryNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_zyp3SP92SHkg" title="Maturity date, description">The notes mature at various dates through December 2024 and are unsecured. One note required weekly payments of $<span id="xdx_90E_eus-gaap--DebtInstrumentPeriodicPayment_pn3n3_c20231001__20240930__us-gaap--DebtInstrumentAxis__custom--SixPromissoryNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember_z0c0AoGE9hRa" title="Periodic payment">4. In connection with the Merger, all outstanding convertible notes were converted into <span id="xdx_90A_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20231001__20240930__us-gaap--DebtInstrumentAxis__custom--ConvertibleNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zfovm9i69JTe" title="Debt conversion shares">30,045 shares of the Company’s Class A Common Stock and the $<span id="xdx_90E_eus-gaap--DebtConversionConvertedInstrumentAmount1_pn3n3_c20231001__20240930__us-gaap--DebtInstrumentAxis__custom--ConvertibleNotesMember__srt--TitleOfIndividualAxis__custom--UnrelatedInvestorsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zD4HReTWL8D1" title="Debt conversion amount">206 carrying amount of the notes and accrued interest thereon was credited to equity, with no gain or loss recognized. During the year ended September 30, 2024, the Company issued immediately exercisable warrants to purchase an aggregate of 201,965 shares of its common stock in connection with the issuance of certain notes. The warrants had exercise prices ranging from $0.01 to $2.00 per share and terms of one to two years. The Company evaluated the warrants and determined that they met all the requirements for equity classification under ASC 815. The Company accounted for each of the warrants as detachable warrants at their fair value, using the relative fair value method, and allocated $155 of the proceeds to the warrants. This amount was recorded as an increase to additional paid-in capital and as a discount to notes payable on the consolidated balance sheets. The Company amortized the discount over the term of the related notes using the effective interest method. The Company valued the warrants at the time of issuance using the Black-Scholes option pricing model with the following assumptions: expected volatility of <span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MinimumMember_zjdr4b9Qp4H">55.0-<span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputPriceVolatilityMember__srt--RangeAxis__srt--MaximumMember_z2sHgxDXPDoi">55.6%; no expected dividend yield; risk-free interest rate of <span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MinimumMember_zF39qn11VZu">4.7-<span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20240930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember__srt--RangeAxis__srt--MaximumMember_zuOmlm7lRv2g">5.3%; and expected term of one<span id="xdx_901_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240930__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedTermMember__srt--RangeAxis__srt--MinimumMember_zOyc8GBm9JWg" title="Expected term">1 to two years. During the year ended September 30, 2025, the Company and the holders of three notes agreed to settle the outstanding principal and accrued interest, totaling $661, in exchange for <span id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_pid_c20241001__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zj8hRmjJn50b" title="Number of shares converted">798,680 shares of the Company’s Class A Common Stock. The Company recognized a loss on the extinguishment of debt of $300, which is included in “Other non-operating losses, net” in the consolidated statements of operations and comprehensive loss. During the years ended September 30, 2025 and 2024 the Company made principal payments of $1,215 and $1,749, respectively, on notes payable. As of September 30, 2025, notes payable having a remaining principal balance of $4,264 were outstanding and are included in “Notes payable, current” at a carrying amount of $3,934 (net of unamortized discount of $330) in the consolidated balance sheet. 7% Promissory Notes — Related Parties The Company has two outstanding promissory notes with related parties which the Company assumed in 2020 as part of an asset acquisition. The promissory notes bear interest at <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250930__us-gaap--DebtInstrumentAxis__custom--TwoPromissoryNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ziNUIggvBSpi" title="Interest rate, percentage">7% per annum and are unsecured. During the year ended September 30, 2025, the Company and the holders of the <span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250930__us-gaap--DebtInstrumentAxis__custom--TwoPromissoryNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zFMuou5TUgvf" title="Interest rate, percentage">7% promissory notes each agreed to extend the payment terms, such that the outstanding principal and accrued interest will be repaid in monthly payments of varying amounts through March 2027, with the remaining principal balance of $<span id="xdx_903_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_pn3n3_c20270515__20270515__us-gaap--DebtInstrumentAxis__custom--TwoPromissoryNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__srt--StatementScenarioAxis__srt--ScenarioForecastMember_zVhfX40PEZ5f" title="Principal payments">979 payable on May 15, 2027. As a result of these agreements, the Company has reclassified $<span id="xdx_903_eus-gaap--LongTermNotesPayable_iI_pn3n3_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--OnePromissoryNotesMember_zX1rAIeQ6UO3" title="Notes payable, noncurrent">1,099 of the outstanding principal balance of the <span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250930__us-gaap--DebtInstrumentAxis__custom--OnePromissoryNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zujINeYy1P5" title="Interest rate, percentage">7% promissory notes to “Notes payable — related parties, noncurrent” in the consolidated balance sheet as of September 30, 2025. The portion of the <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250930__us-gaap--DebtInstrumentAxis__custom--OnePromissoryNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zRZQ93wQejm6" title="Interest rate, percentage">7% promissory notes due within one year is included in “Notes payable — related parties, current” in the consolidated balance sheets. During the years ended September 30, 2025 and 2024, the Company made principal payments of $<span id="xdx_908_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_pn3n3_c20241001__20250930__us-gaap--DebtInstrumentAxis__custom--TwoPromissoryNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zNDXWjePsV1l" title="Principal payments">244 and $<span id="xdx_90C_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_pn3n3_c20231001__20240930__us-gaap--DebtInstrumentAxis__custom--TwoPromissoryNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z6X0Nq9UzuLd" title="Principal payments">854 on the <span id="xdx_909_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250930__us-gaap--DebtInstrumentAxis__custom--TwoPromissoryNotesMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zilAClx2OPD2" title="Interest rate, percentage">7% promissory notes. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Notes Payable — Related Parties During the year ended September 30, 2024, the Company entered into two promissory notes having an aggregate principal amount of $495 with a related party to meet its working capital needs. Net proceeds from the issuance of the notes were $<span id="xdx_903_eus-gaap--ProceedsFromNotesPayable_pn3n3_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z1gDwFRkmUJ2" title="Proceeds from notes payable">450. <span id="xdx_905_eus-gaap--DebtInstrumentMaturityDateDescription_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zDUV0WV2FElj" title="Maturity date, description">The notes bear no interest, are unsecured and matured at various dates through November 2024. The Company repaid one of the notes, having a principal balance of $<span id="xdx_90A_eus-gaap--RepaymentsOfNotesPayable_pn3n3_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zqxgW2wEPGM4" title="Repayments of notes payable">165, during the year ended September 30, 2024 and repaid the remaining note, having a principal balance of $<span id="xdx_908_eus-gaap--RepaymentsOfNotesPayable_pn3n3_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zLJGPgxmc8l9" title="Repayments of notes payable">330, during the year ended September 30, 2025.

Debt consists of the following: Schedule of Debt <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49B_20250930_z6xid2gtRqT7" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_492_20240930_zEoTqsFZjxkf" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_405_eus-gaap--NotesPayable_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--NonrelatedPartyMember_zuDSGSyQNPUl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Notes payable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">3,934</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">598</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--NotesPayable_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember__us-gaap--DebtInstrumentAxis__custom--SevenPercentagePromissoryNotesMember_zVDT7Be1nSua" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">7% promissory notes – related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,251</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,495</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--NotesPayable_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ztoTrtev1uec" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Notes payable – related parties</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">330</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--NotesPayable_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z15G8gZE7Ez4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="display: none; text-align: left; padding-bottom: 1pt">Notes payable</td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: left"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">—</td><td style="display: none; padding-bottom: 1pt; text-align: left"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; display: none; text-align: left"> </td><td style="border-bottom: Black 1pt solid; display: none; text-align: right">330</td><td style="display: none; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LongTermDebt_iI_pn3n3_zBaTyJC9aftl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Total debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,185</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,423</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DebtCurrent_iNI_pn3n3_di_znPtZjoqxtm" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Amounts classified as current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,086</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,141</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_z3pjYmxQSak" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 10pt">Noncurrent portion</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,099</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,282</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3934000

598000

2251000

2495000

330000

6185000

3423000

5086000

2141000

1099000

1282000

1734000

2791000

1275000

1152000

0.07

0.12

The notes mature at various dates from February 2025 to August 2026.

103000

550000

616000

1500000000

343750000

212000

4417000

2430000

1069000

200000

1198000

0.06

0.76

The notes mature at various dates through December 2024

4000

30045

206000

201965

0.01

2.00

155000

55.0

55.6

4.7

5.3

P1Y

P2Y

661000

798680

300000

1215000

1749000

4264000

3934000

330000

0.07

979000

1099000

0.07

244000

854000

0.07

495000

450000

The notes bear no interest, are unsecured and matured at various dates through November 2024.

165000

330000

Note 11 — Leases The Company has entered into operating leases for office space. The leases have remaining terms ranging from three months to <span id="xdx_901_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20270731__srt--StatementScenarioAxis__srt--ScenarioForecastMember__srt--RangeAxis__srt--MaximumMember_zCZmEXeiVB2i" title="Lessee operating lease remaining lease term">1.8 years and expire at various dates through July 2027. The leases do not contain residual value guarantees or restrictive covenants. During the year ended September 30, 2025, the Company entered into new or amended leases relating to four properties. In connection with these leases, the Company recognized additional right-of-use assets and operating lease liabilities of $528. The Company also modified the lease on one property it occupies in Lowell, Massachusetts to reduce the remaining lease term. As a result of the modification, the Company recognized an $<span id="xdx_904_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_c20250930__us-gaap--LeaseContractualTermAxis__custom--LowellMassachusettsLeaseMember_zGmrmr4YAF05" title="Operating lease right of use asset">86 reduction in the related ROU asset and operating lease liability. There were no leases that had not yet commenced as of September 30, 2025 that will create significant additional rights and obligations for the Company. In March 2025, the Company vacated a leased 19,436 square foot office in Irvine, California, having a remaining lease term of 2.4 years and in April 2025 the lease was terminated. As a result of the termination of the lease, the Company recognized an impairment loss of $725 to reduce the carrying value of this asset group to its estimated fair value. The resulting impairment loss is included in “Impairment of long-lived assets” in the condensed consolidated statements of operations and comprehensive loss. The following lease costs are included in the consolidated statements of operations and comprehensive loss: Schedule of Lease Costs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241001__20250930_zGYiCohPX2Qb" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231001__20240930_z7Ux0UzLqike" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseCost_pn3n3_maLCztqc_zGz4SCevPG0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">546</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">429</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShortTermLeaseCost_pn3n3_maLCztqc_zJP98x51feLg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">42</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">135</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LeaseCost_iT_pn3n3_mtLCztqc_zOf9LWyKYKY" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">588</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">564</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Cash paid for amounts included in the measurement of operating lease liabilities for the years ended September 30, 2025 and 2024 was $549 and $563, respectively. As of September 30, 2025, the weighted-average remaining lease term was 1.3 years, and the weighted-average discount rate was 15.6%. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The following table reconciles the undiscounted cash flows to the operating lease liabilities recorded on the consolidated balance sheet as of September 30, 2025: Schedule of Operating Lease Liability Maturity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Years ending September 30,</td><td> </td> <td colspan="2" id="xdx_49E_20250930_zMp84HabW0Xd"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzhIY_zk2jhrjNNXo9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">308</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzhIY_zreNTbBm0AF3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">99</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzhIY_zo6ZNC59H1s4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">407</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_z11dPoaukDkk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(37</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_iI_pn3n3_z6m6jifXPRC6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Present value of future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pn3n3_di_zjHv1awK1kvj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: current obligations under leases</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(274</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_zSsoPBMrPLog" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Long-term lease obligations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">96</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

P1Y9M18D

528000

86000

19436

P2Y4M24D

725000

The following lease costs are included in the consolidated statements of operations and comprehensive loss: Schedule of Lease Costs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241001__20250930_zGYiCohPX2Qb" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td><td style="display: none; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231001__20240930_z7Ux0UzLqike" style="border-bottom: Black 1pt solid; display: none; font-weight: bold; text-align: center">2024</td><td style="display: none; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseCost_pn3n3_maLCztqc_zGz4SCevPG0c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">546</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">429</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ShortTermLeaseCost_pn3n3_maLCztqc_zJP98x51feLg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Short-term lease cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">42</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">135</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LeaseCost_iT_pn3n3_mtLCztqc_zOf9LWyKYKY" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">588</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">564</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

546000

429000

42000

135000

588000

564000

549000

563000

P1Y3M18D

0.156

The following table reconciles the undiscounted cash flows to the operating lease liabilities recorded on the consolidated balance sheet as of September 30, 2025: Schedule of Operating Lease Liability Maturity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Years ending September 30,</td><td> </td> <td colspan="2" id="xdx_49E_20250930_zMp84HabW0Xd"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPzhIY_zk2jhrjNNXo9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">308</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPzhIY_zreNTbBm0AF3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">99</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzhIY_zo6ZNC59H1s4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">407</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_z11dPoaukDkk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(37</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_iI_pn3n3_z6m6jifXPRC6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Present value of future minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pn3n3_di_zjHv1awK1kvj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: current obligations under leases</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(274</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_zSsoPBMrPLog" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Long-term lease obligations</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">96</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

308000

99000

407000

37000

370000

274000

96000

Note 12 — Income Taxes Substantially all of the Company’s pretax loss was generated in the United States. The provision (benefit) for income taxes consists of the following: Schedule of Provision for Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20241001__20250930_z1xlmT2xXr2b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231001__20240930_ztesAm6OTUBj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zBS0NS5p0s29" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CurrentFederalTaxExpenseBenefit_pn3n3_maCITEBzoVr_zUjy2EBXy4O5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pn3n3_maCITEBzoVr_zjda7qKH5Jea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-bottom: 1pt; padding-left: 10pt">State</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">6</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">3</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CurrentIncomeTaxExpenseBenefit_iT_pn3n3_mtCITEBzoVr_maITEBzG12_zudJXnUh2wU1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Total current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zgiNc34dmK5c" style="vertical-align: bottom; background-color: White"> <td>Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_pn3n3_maDITEBzQ1w_z7mwa0kLch5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,198</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_pn3n3_maDITEBzQ1w_zlCV8p61SgOd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(234</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredIncomeTaxExpenseBenefit_iT_pn3n3_mtDITEBzQ1w_maITEBzG12_zK33SJHf8Ifb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Total deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,432</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_mtITEBzG12_zNDkAL2zW2Pe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Provision (benefit) for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,429</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The provision (benefit) for income taxes differs from the amount computed by applying the U.S. federal statutory rate of 21% to the Company’s loss before income taxes as follows: Schedule of Loss Before Income Tax <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241001__20250930_zLxoBwzKJ5e1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231001__20240930_z3dlSxUSofHj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_maITEBzFMQ_zhuDizQg4qm" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Income tax benefit computed at the U.S. federal statutory rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(9,685</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(4,717</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_pn3n3_maITEBzFMQ_zIKNnkbwlebj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">State and local income tax benefits, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(689</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(731</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_pn3n3_maITEBzFMQ_z4JRVyAd60nj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,865</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_pn3n3_maITEBzFMQ_z57BuJ63mj05" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Non-deductible transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,181</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--IncomeTaxReconciliationFairValueOfWarrantsIssuedToLenders_pn3n3_maITEBzFMQ_zQ6GH0rXY6M9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Fair value of warrants issued to investors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,342</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">154</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationTaxContingenciesStateAndLocal_pn3n3_maITEBzFMQ_zt0ZbxFveMSc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">State tax rate change</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--DeferredTaxesChangeInFairValueOfEarnoutLiability_iN_pn3n3_di_msITEBzFMQ_zxlVgw0hgnTk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Change in fair value of earnout liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(92</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,695</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_pn3n3_maITEBzFMQ_zYeYi1w5ZNa3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,996</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,107</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_pn3n3_maITEBzFMQ_zgcZmIvs3PM1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Non-deductible executive compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,916</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_pn3n3_maITEBzFMQ_z7HR0PiHOFAk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">171</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">505</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxExpenseBenefit_pn3n3_mtITEBzFMQ_zNav0NeCNJmj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Provision (benefit) for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,429</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Deferred tax liabilities, net consist of the following: Schedule of Deferred Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250930_z8JtOhhh15bc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240930_zdybmUZ7HU37" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsGrossAbstract_iB_zcW3ccsKrHy9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_maDTAGzLcw_z3ZJCoQMMiAk" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left; padding-left: 10pt">Net operating losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">18,686</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,312</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pn3n3_maDTAGzLcw_ze1PEJzS5FY5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,195</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,190</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxAssetsCapitalizedCosts_iI_pn3n3_maDTAGzLcw_z2PVg1CYZpb8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Section 174 capitalized costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,843</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pn3n3_maDTAGzLcw_zaHmoTrZ6uka" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">190</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsTaxDeferredExpenseLeaseLiabilities_iI_pn3n3_maDTAGzLcw_ziiJ6gdCPCj1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">340</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsOther_iI_pn3n3_maDTAGzLcw_zQqLKEii1taf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">639</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">919</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_mtDTAGzLcw_maDTALNz9LG_znMnoEVZpDch" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Total gross deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,794</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTALNz9LG_zj6IregcQEnh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(25,095</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,152</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pn3n3_mtDTALNz9LG_msDTLzZr1_zVudWExYmJjg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Net deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,642</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxLiabilitiesAbstract_iB_zy2cJNmm0Km8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_iNI_pn3n3_di_maDITLza7u_zrU6N6yY2mPf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Intangible asset amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,218</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,566</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--DeferredTaxLiabilitiesFixedAssetsDepreciation_iNI_pn3n3_di_maDITLza7u_zzG9oFQNonXe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Fixed asset depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(156</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxLiabilitiesOther_iNI_pn3n3_di_maDITLza7u_zicYQCfm5pi1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Operating lease ROU assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(88</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(240</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pn3n3_di_mtDITLza7u_maDTLzZr1_z582c4e1A3R1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Total gross deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,331</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,962</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilities_iNTI_pn3n3_di_mtDTLzZr1_z7IMwjbq7H3b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred tax liabilities, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(321</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(320</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> In connection with the acquisitions of EMI Solutions and RaGE Systems, the Company recognized additional deferred tax liabilities totaling $2,666 associated with acquired intangible assets. Based on the availability of these tax attributes, the Company determined that it expects to realize a greater portion of its existing deferred tax assets and for the year ended September 30, 2024 the Company recognized a deferred income tax benefit of $<span id="xdx_902_eus-gaap--DeferredIncomeTaxExpenseBenefit_pn3n3_c20231001__20240930__dei--LegalEntityAxis__custom--EMISolutionsAndRaGESystemsMember_z5zyuTtjLxok" title="Deferred income tax expense benefit">2,432, principally resulting from reductions of the valuation allowance on its deferred tax assets. During the years ended September 30, 2025 and 2024, the Company increased the valuation allowance against its deferred tax assets by $5,943 and $7,297, respectively, which primarily related to increases in net deferred tax assets from current year activity that the Company expects will not be realized in the future. During the year ended September 30, 2024, the Company also reduced the valuation allowance and recognized a deferred tax benefit of $<span id="xdx_902_eus-gaap--DeferredIncomeTaxExpenseBenefit_pn3n3_c20231001__20240930__dei--LegalEntityAxis__custom--EMISolutionsAndRaGESystemsMember_zu2wyZoy9xv2" title="Deferred income tax expense benefit">2,432 as a result of the deferred tax liabilities it recognized in connection with the acquisitions of EMI Solutions and RaGE Systems. As of September 30, 2025, the Company has accumulated federal and state net operating losses (“NOLs”) of $74,090 and $48,943, respectively. The federal NOLs may be carried forward indefinitely and the state NOLs begin to expire in 2031. The Company’s ability to carry forward its NOLs and research credits may be subject to significant limitations under Section 382 of the Internal Revenue Code of 1986, as amended (“Section 382”). The federal net operating losses have an indefinite carryforward period but are available to offset only 80% of future taxable income. The Company’s ability to use its federal NOL carryforwards may be further limited if it experiences an “ownership change” as defined in Section 382. The Company has unrecognized tax benefits of $2,080 as of September 30, 2025 and 2024. There were no changes in the Company’s unrecognized tax benefits during the fiscal years ended September 30, 2025 and 2024. The Company records interest and penalties related to unrecognized tax benefits in the provision (benefit) for income taxes in the consolidated statements of operations and comprehensive loss. As of September 30, 2025 and 2024, no accrued interest or penalties are recorded on the consolidated balance sheets, and the Company has not recorded any related expenses. The Company does not expect a significant change in its uncertain tax positions within the next twelve months. The Company files U.S. federal and various state income tax returns. As of September 30, 2025, the U.S. federal and state tax returns are open to examination for calendar years 2021 through 2024. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The Tax Cuts and Jobs Act (“TCJA”) requires that taxpayers capitalize expenditures that qualify as Section 174 costs and recover them over five years for domestic expenditures, and fifteen years for expenditures attributed for foreign research. As of September 30, 2025, the Company has capitalized $20,958 of costs under this provision. On July 4, 2025, United States President Donald J. Trump signed the One Big Beautiful Bill Act (“OBBBA”) into law. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the TCJA, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The OBBBA has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Company has evaluated the provisions of the OBBBA and determined they do not have a significant impact on its operations and consolidated financial statements.

Substantially all of the Company’s pretax loss was generated in the United States. The provision (benefit) for income taxes consists of the following: Schedule of Provision for Income Taxes <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20241001__20250930_z1xlmT2xXr2b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20231001__20240930_ztesAm6OTUBj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--CurrentFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zBS0NS5p0s29" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CurrentFederalTaxExpenseBenefit_pn3n3_maCITEBzoVr_zUjy2EBXy4O5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CurrentStateAndLocalTaxExpenseBenefit_pn3n3_maCITEBzoVr_zjda7qKH5Jea" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; padding-bottom: 1pt; padding-left: 10pt">State</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">6</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">3</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CurrentIncomeTaxExpenseBenefit_iT_pn3n3_mtCITEBzoVr_maITEBzG12_zudJXnUh2wU1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Total current</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DeferredFederalStateAndLocalTaxExpenseBenefitAbstract_iB_zgiNc34dmK5c" style="vertical-align: bottom; background-color: White"> <td>Deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredFederalIncomeTaxExpenseBenefit_pn3n3_maDITEBzQ1w_z7mwa0kLch5k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Federal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,198</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredStateAndLocalIncomeTaxExpenseBenefit_pn3n3_maDITEBzQ1w_zlCV8p61SgOd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">State</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(234</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DeferredIncomeTaxExpenseBenefit_iT_pn3n3_mtDITEBzQ1w_maITEBzG12_zK33SJHf8Ifb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Total deferred</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,432</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_mtITEBzG12_zNDkAL2zW2Pe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Provision (benefit) for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,429</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

6000

3000

6000

3000

1000

-2198000

-234000

1000

-2432000

7000

-2429000

The provision (benefit) for income taxes differs from the amount computed by applying the U.S. federal statutory rate of 21% to the Company’s loss before income taxes as follows: Schedule of Loss Before Income Tax <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241001__20250930_zLxoBwzKJ5e1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20231001__20240930_z3dlSxUSofHj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_maITEBzFMQ_zhuDizQg4qm" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Income tax benefit computed at the U.S. federal statutory rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(9,685</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">(4,717</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_pn3n3_maITEBzFMQ_zIKNnkbwlebj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">State and local income tax benefits, net of federal benefit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(689</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(731</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_pn3n3_maITEBzFMQ_z4JRVyAd60nj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Change in valuation allowance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,758</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,865</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_pn3n3_maITEBzFMQ_z57BuJ63mj05" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Non-deductible transaction costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,181</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--IncomeTaxReconciliationFairValueOfWarrantsIssuedToLenders_pn3n3_maITEBzFMQ_zQ6GH0rXY6M9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Fair value of warrants issued to investors</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,342</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">154</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationTaxContingenciesStateAndLocal_pn3n3_maITEBzFMQ_zt0ZbxFveMSc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">State tax rate change</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--DeferredTaxesChangeInFairValueOfEarnoutLiability_iN_pn3n3_di_msITEBzFMQ_zxlVgw0hgnTk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Change in fair value of earnout liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(92</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,695</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_pn3n3_maITEBzFMQ_zYeYi1w5ZNa3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,996</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,107</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_pn3n3_maITEBzFMQ_zgcZmIvs3PM1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Non-deductible executive compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,232</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,916</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_pn3n3_maITEBzFMQ_z7HR0PiHOFAk" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">171</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">505</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxExpenseBenefit_pn3n3_mtITEBzFMQ_zNav0NeCNJmj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Provision (benefit) for income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(2,429</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-9685000

-4717000

-689000

-731000

5758000

4865000

1181000

1342000 154000

-26000

-14000

92000 6695000

1996000

1107000

1232000

1916000

171000

505000

7000

-2429000

Deferred tax liabilities, net consist of the following: Schedule of Deferred Liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250930_z8JtOhhh15bc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20240930_zdybmUZ7HU37" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_404_eus-gaap--DeferredTaxAssetsGrossAbstract_iB_zcW3ccsKrHy9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_maDTAGzLcw_z3ZJCoQMMiAk" style="vertical-align: bottom; background-color: White"> <td style="width: 64%; text-align: left; padding-left: 10pt">Net operating losses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">18,686</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,312</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pn3n3_maDTAGzLcw_ze1PEJzS5FY5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Stock-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,195</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,190</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--DeferredTaxAssetsCapitalizedCosts_iI_pn3n3_maDTAGzLcw_z2PVg1CYZpb8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Section 174 capitalized costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,303</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,843</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities_iI_pn3n3_maDTAGzLcw_zaHmoTrZ6uka" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">190</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetsTaxDeferredExpenseLeaseLiabilities_iI_pn3n3_maDTAGzLcw_ziiJ6gdCPCj1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">340</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxAssetsOther_iI_pn3n3_maDTAGzLcw_zQqLKEii1taf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">639</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">919</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_mtDTAGzLcw_maDTALNz9LG_znMnoEVZpDch" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Total gross deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">28,105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,794</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTALNz9LG_zj6IregcQEnh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(25,095</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,152</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pn3n3_mtDTALNz9LG_msDTLzZr1_zVudWExYmJjg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Net deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,010</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,642</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxLiabilitiesAbstract_iB_zy2cJNmm0Km8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets_iNI_pn3n3_di_maDITLza7u_zrU6N6yY2mPf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Intangible asset amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,218</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,566</td><td style="text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--DeferredTaxLiabilitiesFixedAssetsDepreciation_iNI_pn3n3_di_maDITLza7u_zzG9oFQNonXe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Fixed asset depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(25</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(156</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxLiabilitiesOther_iNI_pn3n3_di_maDITLza7u_zicYQCfm5pi1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Operating lease ROU assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(88</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(240</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pn3n3_di_mtDITLza7u_maDTLzZr1_z582c4e1A3R1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Total gross deferred tax liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,331</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,962</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilities_iNTI_pn3n3_di_mtDTLzZr1_z7IMwjbq7H3b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Deferred tax liabilities, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(321</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(320</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

18686000

14312000

6195000

4190000

2303000 2843000

194000

190000

88000 340000

639000

919000

28105000

22794000

25095000

19152000

3010000

3642000

3218000

3566000

25000 156000

88000

240000

3331000

3962000

321000

320000

2666000

2432000

5943000

7297000

2432000

74090000

48943000

0.80

2080000

20958000

Note 13 — Commitments and Contingencies The Company previously engaged a financial advisor to provide services and the financial advisor has asserted that the Company owes additional funds in excess of amounts previously recognized. The Company disputes the financial advisor’s claim. As of the date of these consolidated financial statements, no legal proceeding has been initiated in respect of this matter. The ultimate resolution of this matter may differ from the amount recognized and any such difference could be material to the Company’s consolidated results of operations and cash flows. At this time, the Company is unable to reasonably estimate the possible amount or range of additional loss, if any, that it may incur. Litigation From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. The Company does not believe it is currently a party to any legal proceedings—nor is the Company aware of any other pending or threatened litigation—that the Company believes would have a material adverse effect on its business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. Indemnifications In the ordinary course of business, the Company often includes standard indemnification provisions in its arrangements with customers, suppliers and vendors. Pursuant to these provisions, the Company may be obligated to indemnify such parties for losses or claims suffered or incurred in connection with its service, breach of representations or covenants, intellectual property infringement or other claims made against such parties. These provisions may limit the time within which an indemnification claim can be made. The Company has not in the past incurred significant expense defending against third party claims, nor has it incurred significant expense under its standard service warranties or arrangements with its customers, suppliers and vendors. Accordingly, the Company has not recognized any liabilities for these indemnification provisions as of September 30, 2025 or 2024.

Note 14 — Equity In connection with the Merger, the Company adopted its amended and restated certificate of incorporation and amended and restated bylaws. The amended and restated certificate of incorporation authorizes the issuance of preferred stock, Class A Common Stock and Class B Common Stock. Preferred Stock In connection with the Merger, all outstanding shares of Legacy Mobix Founders Redeemable Convertible Preferred Stock and Series A Redeemable Convertible Preferred Stock were cancelled and converted into <span id="xdx_90F_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_pid_c20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember__us-gaap--StatementClassOfStockAxis__custom--SeriesARedeemableConvertiblePreferredStockMember_zle1lZqHful8" title="Convertible preferred stock conversion">2,254,901 shares of the Company’s Class B Common Stock. The amended and restated certificate of incorporation authorizes the Company to issue 10,000,000 shares of preferred stock, par value $<span id="xdx_90C_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember__srt--TitleOfIndividualAxis__srt--BoardOfDirectorsChairmanMember_zdwbEUrpzEE8" title="Preferred stock, par value">0.00001, and the Company’s board of directors is authorized to designate one or more series of preferred stock, to fix the number of shares constituting any such series of preferred stock, and the powers, preferences and rights of any such series of preferred stock. Through September 30, 2025, the board of directors had not designated any such series of preferred stock and as of September 30, 2025 <span id="xdx_905_eus-gaap--PreferredStockSharesOutstanding_iI_pid_do_c20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--PreferredStockMember_zSCt9SRsNdlj" title="Preferred stock shares outstanding">no shares of preferred stock were issued or outstanding. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Common Stock The Company is authorized to issue 285,000,000 shares of Class A Common Stock and 5,000,000 shares of Class B Common Stock. Holders of Class A and Class B Common Stock are each entitled to receive ratably any dividends or distributions as may be declared from time to time by the board of directors. Each class of common stock is subordinate to the Company’s preferred stock with respect to rights upon liquidation of the Company. Neither class of common stock is redeemable at the option of the holders. The holders of Class A and Class B Common Stock are entitled to vote together as a single class, with each holder of outstanding shares of Class A Common Stock entitled to one vote for each share of Class A Common Stock and each holder of outstanding shares of Class B Common Stock entitled to ten votes for each share of Class B Common Stock. Holders of shares of Class B Common Stock may elect at any time to convert each outstanding share of Class B Common Stock into one share of Class A Common Stock. Shares of Class B Common Stock are also subject to automatic conversion into shares of Class A Common Stock upon the occurrence of certain events or, if not previously converted, upon the seventh anniversary of the Closing. During the year ended September 30, 2025, the Company sold 1,574,464 shares of its Class A Common Stock in private placements for net proceeds of $<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn3n3_c20241001__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember_zdLZEa1QPzk7" title="Net proceeds from private placement">1,600. In connection with the issuance of these shares, the Company also granted one investor a warrant to purchase <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zbjVHIPJZQba" title="Shares of common stock">500,045 shares of common stock at a price of $0.96 per share. The warrant is immediately exercisable and has a term of <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20250930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zN1UwqTCdPNg" title="Warrants exercisable term">three years. The Company determined the warrant to be a freestanding equity instrument with no subsequent remeasurement. The Company also issued <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20241001__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--AwardTypeAxis__custom--AprilTwoThousandAndTwentyFiveOfferingMember_zYEneakYNOv8" title="Share issued, shares">3,850,000 shares of its Class A Common Stock in connection with the April 2025 Offering. See Note 15, Warrants. During the year ended September 30, 2024, Legacy Mobix sold 482,171 shares of its common stock at various dates in private placements for net proceeds of $3,286. In connection with the issuance of these shares, Legacy Mobix also granted one investor a warrant to purchase <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonStockMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zqZuz30pBtc5">27,413 shares of common stock at a price of $0.01 per share. The warrant is immediately exercisable and has a term of <span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20240930__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zBmYdmHs8Ce7">one year. The Company determined the warrant to be a freestanding equity instrument with no subsequent remeasurement. The Company determined the amount recognized within additional paid-in capital by allocating the proceeds received among the shares of common stock and the warrant issued based on their relative fair values. Subsequent to the Merger, the Company sold 370,000 shares of its Class A Common Stock to an unaffiliated investor for proceeds of $192. The Company also issued the investor a warrant to purchase an aggregate of <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_z5bQfQcGoIfh">407,000 shares of its Class A Common Stock at a price of $1.18 per share. The warrant is immediately exercisable and has a <span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember_zI7FiPwM6g73">5five-year term. As of September 30, 2025, the number of shares of Class A Common Stock available for issuance under the Company’s amended and restated articles of incorporation were as follows: Schedule of Common Stock Available for Issuance <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjbl6xwAALrf" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CommonStockSharesAuthorized_iI_pid_z538vfo7aE0h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Authorized number of shares of Class A Common Stock</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">285,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CommonStockSharesOutstanding_iI_pid_zy346Y4nIJQ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Class A Common Stock outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,838,423</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ReserveForConversionOfClassBCommonStock_pid_zhjYnSni9z2g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Reserve for conversion of Class B Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,004,901</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--ReserveForExerciseOfCommonStockWarrants_iI_pid_zfarbHzRVpp1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Reserve for exercise of common stock warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,085,732</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ReserveForEarnoutShares_iI_pid_zgp69VVA7pP8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Reserve for Earnout Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,500,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ReserveForRageEarnout_iI_pid_ztkuBfMjc248" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Reserve for RaGE Earnout</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">642,809</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--StockOptionsAndRSUsOutstandingUnderEquityIncentivePlans_iI_pid_zAzk3QTbWpOh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Stock options and RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,640,506</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_zbJvhLDjpzz" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Awards available for grant under 2023 Equity Incentive Plan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,560,898</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AwardsAvailableForGrantUnderEmployeeStockPurchasePlan_iI_pid_zsBeSHsPFxll" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Reserve for issuance under 2023 Employee Stock Purchase Plan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">687,055</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iTI_pid_z2gPIq8LjCMg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Class A Common Stock available for issuance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">176,039,676</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company has never declared or paid any dividends on any class of its equity securities and does not expect to do so in the near future. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Committed Equity Facility In March 2024, the Company entered into a Purchase Agreement (“Purchase Agreement”) and a related Registration Rights Agreement with B. Riley Principal Capital II (“B. Riley”) which provides the Company the right, in its sole discretion, and subject to the satisfaction of the conditions set forth therein, to sell to B. Riley up to <span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20240318__20240318__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zUhEKKZPctqa" title="Shares issued">9,500,000 newly issued shares of its Class A Common Stock (subject to certain limitations) from time to time. Any sales of Class A Common Stock pursuant to the Purchase Agreement, and the timing of any sales, are solely at the Company’s option, and the Company is under no obligation to sell any securities to B. Riley. The per share purchase price that B. Riley will pay for shares of Class A Common Stock is determined by reference to the volume weighted average price of the Class A Common Stock measured over the regular trading session or intraday period of the trading session on Nasdaq on the date of each purchase, in each case as defined in the Purchase Agreement, less a three percent discount. As consideration for B. Riley’s commitment to purchase shares of the Company’s Class A Common Stock, the Company agreed to pay a cash commitment fee in the amount of $1,500 and reimburse certain legal fees. B. Riley will withhold <span id="xdx_909_ecustom--CashFromAggregatePurchasePrice_pid_dp_uPure_c20231001__20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2BMRspLSaCa" title="Cash form aggregate purchase price">30% in cash from the total aggregate purchase price until B. Riley has received the entire cash commitment fee. As of September 30, 2025, $1,478 of the commitment fee remains unpaid, and is currently due. In April 2024, the Company filed a registration statement with the Securities and Exchange Commission to register under the Securities Act, the offer and resale by B. Riley of up to 9,500,000 shares of Class A Common Stock that the Company may elect to sell to B. Riley pursuant to the Purchase Agreement. The registration statement was declared effective on May 13, 2024. During the year ended September 30, 2024, the Company sold <span id="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20231001__20240930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z4OB572HYWc7" title="Purchase of shares">36,367 shares of its Class A Common Stock to B. Riley under the Purchase Agreement for gross proceeds of $<span id="xdx_904_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn3n3_c20231001__20240930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAWxcfunxNjg" title="Gross proceeds">73; no shares were sold under the Purchase Agreement during the year ended September 30, 2025. The amount and timing of the proceeds the Company receives from the sale of shares of Class A Common Stock pursuant to the Purchase Agreement, if any, will depend on a number of factors, including the numbers of shares the Company may elect to sell, the timing of such sales, the future market price of the Company’s Class A Common stock and the payment of the cash commitment fee. For the year ended September 30, 2024, cash commitment and other fees under the Purchase Agreement totaling $<span id="xdx_900_eus-gaap--PaymentsForFees_pn3n3_c20231001__20240930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgk2nTG6MNmb" title="Earn-out payments">1,577 are included in “Other non-operating losses, net” in the consolidated statements of operations and comprehensive loss.

2254901

10000000

0.00001

285000000

5000000

1574464

1600000

500045

0.96

P3Y

3850000

482171

3286000

27413

0.01

P1Y

370000

192000

407000

1.18

P5Y

As of September 30, 2025, the number of shares of Class A Common Stock available for issuance under the Company’s amended and restated articles of incorporation were as follows: Schedule of Common Stock Available for Issuance <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjbl6xwAALrf" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CommonStockSharesAuthorized_iI_pid_z538vfo7aE0h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 82%; text-align: left">Authorized number of shares of Class A Common Stock</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">285,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Less:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CommonStockSharesOutstanding_iI_pid_zy346Y4nIJQ3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Class A Common Stock outstanding</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,838,423</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ReserveForConversionOfClassBCommonStock_pid_zhjYnSni9z2g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Reserve for conversion of Class B Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,004,901</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--ReserveForExerciseOfCommonStockWarrants_iI_pid_zfarbHzRVpp1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Reserve for exercise of common stock warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,085,732</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--ReserveForEarnoutShares_iI_pid_zgp69VVA7pP8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Reserve for Earnout Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,500,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ReserveForRageEarnout_iI_pid_ztkuBfMjc248" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Reserve for RaGE Earnout</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">642,809</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--StockOptionsAndRSUsOutstandingUnderEquityIncentivePlans_iI_pid_zAzk3QTbWpOh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 10pt">Stock options and RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,640,506</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_zbJvhLDjpzz" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Awards available for grant under 2023 Equity Incentive Plan</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,560,898</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--AwardsAvailableForGrantUnderEmployeeStockPurchasePlan_iI_pid_zsBeSHsPFxll" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">Reserve for issuance under 2023 Employee Stock Purchase Plan</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">687,055</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iTI_pid_z2gPIq8LjCMg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Class A Common Stock available for issuance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">176,039,676</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

285000000

58838423

2004901 25085732 3500000 642809 15640506

2560898

687055

176039676

9500000

1500000

0.30 1478

9500000

36367

73000

1577000

Note 15 — Warrants Outstanding warrants consist of the following: Schedule of Outstanding Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250930_z3svHSjBqJFj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240930_z6a859Kiqdfk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zYvvBAcNxoN5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Public Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">6,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">6,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--PrivateWarrantsMember_zQrEs2M5Cn23" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Private Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--PIPEWarrantsMember_zDQsXK0RaiFb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">PIPE Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">250,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,750,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--PIPECommonWarrantsMember_zBj8QaA4DQLj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">PIPE Common Warrants (July 2024 Private Placement)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,785,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,755,396</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--CommonWarrantsMember_zarQBMXdG2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants (April 2025 Offering)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,360,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--InducementWarrantsMember_zTv7lmkRIvxa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Inducement Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,229,701</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--OtherWarrantsMember_zx72mpl2AeR2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,460,242</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,170,403</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_z0DdWg9ZY2Nd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">25,085,732</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">18,675,799</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> April 2025 Offering In April 2025, the Company entered into a securities purchase agreement (the “2025 Securities Purchase Agreement”) with an institutional accredited investor, pursuant to which it issued 3,850,000 shares of Class A Common Stock, a pre-funded warrant to purchase up to <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250430__us-gaap--StatementClassOfStockAxis__custom--CommonStockWarrantsMember_z9Yobpm0JIC" title="Pre-funded warrant">1,026,860 shares of Class A Common Stock and common stock warrants (the “Common Warrants”) to purchase up to <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250430__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--ClassOfWarrantOrRightAxis__custom--AprilTwoThousandTwentyFiveOfferingMember_zfSZUWiiqN41" title="Pre-funded warrant">4,876,860 shares of the Company’s Class A Common Stock (together, the “April 2025 Offering”). The pre-funded warrant has an exercise price of $0.0001 per share and was immediately exercisable. The Common Warrants have an exercise price of $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250430__us-gaap--ClassOfWarrantOrRightAxis__custom--AprilTwoThousandTwentyFiveOfferingMember_z8MVlM8MyYqj" title="Warrant exercise price per share">0.8202, are currently exercisable and will expire on May 30, 2030. The net proceeds to the Company from the April 2025 Offering were $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn3n3_c20250401__20250430__us-gaap--ClassOfWarrantOrRightAxis__custom--AprilTwoThousandTwentyFiveOfferingMember_zlV0CPMzSSZ4" title="Common Warrants exercise price">3,645, after payment of the placement agent’s fees of $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn3n3_c20250401__20250430__us-gaap--ClassOfWarrantOrRightAxis__custom--AprilTwoThousandTwentyFiveOfferingMember_zVBjnbgGIAXi" title="Payment of placement agents fees">355. During the year ended September 30, 2025, the investor fully exercised the pre-funded warrant for net proceeds to the Company of $<span id="xdx_904_eus-gaap--ProceedsFromWarrantExercises_pn3n3_c20241001__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zrM9ScdnLMS6" title="Net proceeds from warrant exercises">0. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) In connection with the April 2025 Offering, the Company also amended the PIPE Common Warrants (see “July 2024 Private Placement,” below). The Company allocated the proceeds of the April 2025 Offering among the liability-classified warrants issued and amended based on their estimated fair values, with the remainder of the proceeds allocated to the shares of Class A Common Stock issued. The Company also issued the placement agent warrants to purchase an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250430__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zMkSatWRGxo3" title="Warrant issued">682,760 shares of Class A Common Stock. These warrants have an exercise price of $0.8202 per share, are currently exercisable and will expire on April 4, 2030. The Company allocated the transaction costs, including the fair value of the placement agent warrants, among the liability-classified and equity-classified securities issued in the April 2025 Offering. The portion of such costs allocated to liability-classified securities of $443 is included in “Financing costs expensed” in the consolidated statements of operations and comprehensive loss. July 2024 Private Placement In July 2024, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with an institutional accredited investor, pursuant to which it issued a pre-funded warrant to purchase up to <span id="xdx_904_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240731__us-gaap--ClassOfWarrantOrRightAxis__custom--PreFundedWarrantMember_zcYV6HvfuI0a" title="Warrant issued">2,877,698 shares of the Company’s Class A Common Stock and warrants to purchase an aggregate of <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240731__us-gaap--ClassOfWarrantOrRightAxis__custom--PIPECommonWarrantMember_zo5UDYUEtFa5" title="Pre-funded warrant">5,755,396 shares of the Company’s Class A Common Stock (“PIPE Common Warrants”). The Pre-Funded Warrant has an exercise price of $0.001 per share, is immediately exercisable upon issuance and will expire when exercised in full. The PIPE Common Warrants are comprised of Series A warrants to purchase up to <span id="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240731__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesAWarrantMember_zH0XYQy4Ojg8" title="Pre-funded warrant">2,877,698 shares of Class A Common Stock (the “Series A Warrants”) and Series B warrants to purchase up to <span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240731__us-gaap--ClassOfWarrantOrRightAxis__custom--SeriesBWarrantMember_zWGB3RqLJe7f" title="Pre-funded warrant">2,877,698 shares of Class A Common Stock (the “Series B Warrants”). The PIPE Common Warrants initially had an exercise price of $1.39 per share, were exercisable beginning on the effective date of stockholder approval of the issuance of the shares of common stock upon exercise of the PIPE Common Warrants. The Series A Warrants will expire five years from the date of such stockholder approval and the Series B warrants will expire twelve months from the date of stockholder approval. Gross proceeds from the Private Placement were $<span id="xdx_901_eus-gaap--ProceedsFromIssuanceOfPrivatePlacement_pn3n3_c20240701__20240731__us-gaap--ClassOfWarrantOrRightAxis__custom--PIPECommonWarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z2mnZ8Qjiimi" title="Gross proceeds from private placement">4,000, before payment of fees and expenses to the placement agent of $<span id="xdx_906_eus-gaap--PaymentsForFees_pn3n3_c20240701__20240731__us-gaap--ClassOfWarrantOrRightAxis__custom--PIPECommonWarrantMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--PrivatePlacementMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_z0c7AbvKb82h" title="Payment for fee">415. During the year ended September 30, 2024, the investor fully exercised the pre-funded warrant, for net proceeds to the Company of $3. In connection with the Private Placement, the Company issued the placement agent warrants to purchase an aggregate of <span id="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zWlb3egQCxq8" title="Purchase warrants">201,439 shares of its Class A Common Stock. The placement agent warrants have an exercise price of $<span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_znbT8KINSoC2" title="Price per share">1.7375 per share, are exercisable upon stockholder approval and expire five years thereafter. Moreover, upon any exercise for cash of the PIPE Common Warrants, the Company is obligated to pay the placement agent cash fees aggregating <span id="xdx_902_ecustom--PercentageOfPlacementAgentWarrantsCashFeesPayment_pid_dp_uPure_c20241001__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zXhbMUKzTc53" title="Percentage of placement agent warrants">8% of the gross exercise price and issue to the placement agent warrants to purchase a number of shares of Common Stock equal to <span id="xdx_90B_ecustom--PercentageOfPurchaseOfSharesOfCommonStock_pid_dp_uPure_c20241001__20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PlacementAgentWarrantsMember_zAvtyxvG6dyc" title="Percentage of purchase a number of shares of common stock">7.0% of the aggregate number of such shares of Class A Common Stock underlying the PIPE Common Warrants. As a result of these transactions, during the year ended September 30, 2024 the Company recognized a loss of $2,894, representing the excess of the fair value of Pre-Funded Warrants and the PIPE Common Warrants over the proceeds received, the fair value of the warrants issued to the placement agent and the fees and expenses paid to the placement agent, which is included in “Financing costs expensed” in the consolidated statements of operations and comprehensive loss. In connection with the April 2025 Offering, the Company amended the 5,755,396 then outstanding PIPE Common Warrants to reduce the exercise price from $1.39 per share to $0.8202 per share. The Company also extended the term of the Series B warrants from January 3, 2026 to April 3, 2026. The term of the Series A Warrants remains unchanged and will expire on January 3, 2030. In September 2025, the Company further amended the remaining Series B Warrants, extending their expiration date to April 3, 2030 (see “Warrant Exercise Inducement,” below). Warrant Exercise Inducement In September 2025, the Company entered into a warrant exercise inducement offer letter (the “Inducement Letter”) with a holder of outstanding warrants to purchase shares of the Company’s Class A Common Stock. Pursuant to the Inducement Letter, the holder exercised for cash warrants to purchase <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zNYzpSOIcLjf" title="Warrant purchased">5,486,467 shares of Class A Common Stock, consisting of (i) 1,484,953 shares underlying Series A Warrants, (ii) 1,484,952 shares underlying Series B Warrants and (iii) 2,516,562 shares underlying Common Warrants, each at the current exercise price of $0.8202 per share. The Company received gross proceeds of approximately $4,500 from the exercise of these warrants. In connection with the warrant exercise inducement, the Company paid its financial advisor a cash placement fee of $315 and issued the financial advisor warrants to purchase up to <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zetIb30wbHAe" title="Warrant purchased">384,053 shares of its Class A Common Stock at an exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_ztVQ6DTLLc1c" title="Exercise price">1.08 per share. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) In consideration for the holder’s agreement to exercise the warrants for cash, the Company agreed to issue to the holder new warrants (the “Inducement Warrants”) to purchase up to an aggregate of <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__custom--InducementWarrantsMember_zAn0DdFyDwF8" title="Warrant purchased">8,229,701 shares of its Class A Common Stock at an exercise price of $<span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__custom--InducementWarrantsMember_zG6mnPnpz1M9" title="Exercise price">1.08 per share. The Inducement Warrants will become exercisable upon stockholder approval and will expire five years thereafter. The Company also amended the remaining Series B Warrants, extending their expiration date to April 3, 2030. As a result of these transactions, during the year ended September 30, 2025 the Company recognized a non-cash loss of $<span id="xdx_907_eus-gaap--IssuanceOfStockAndWarrantsForServicesOrClaims_pid_c20250101__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--StatementEquityComponentsAxis__custom--InducementWarrantsMember_zpNRsn8MqDQe" title="Non cash loss">6,458, representing the estimated the fair value of the Inducement Warrants as of the date of issuance, the increase in the estimated fair value of the remaining Series B Warrants resulting from their amendment and the fair value of the warrants issued to the financial advisor, which is included in “Financing costs expensed” in the consolidated statements of operations and comprehensive loss. The Company determined that the warrants issued to the placement agent and the financial advisor for services rendered in the transactions discussed above met the criteria for classification as equity. The grant date fair value of each of these warrants was accounted for as part of the costs of the respective transactions. Public Warrants and Private Warrants In connection with the Merger, the Company assumed <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z7Pdxe7WR5Uj" title="Issuance of warrants (in Shares)">6,000,000 Public Warrants and <span id="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--PrivateWarrantMember_zJtxzH9EQsp3" title="Issuance of warrants (in Shares)">3,000,000 Private Warrants issued by Chavant in connection with its initial public offering, each of which entitles the holder to purchase one share of the Company’s Class A Common Stock. The Public Warrants and Private Warrants are exercisable at any time through December 21, 2028. The Company may redeem the Public Warrants at a price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PublicWarrantsMember_z1kcgkjoyWud" title="Class of warrant or right exercise price of warrants or rights">0.01 per warrant if the last reported sale of the Company’s Class A Common Stock equals or exceeds $<span id="xdx_908_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zLDMxbKStOTg" title="Class of warrant or right exercise price of warrants or rights">18.00 per share for any twenty trading days within a thirty-day period. The Private Warrants are identical to the Public Warrants, except that the Private Warrants are exercisable on a cashless basis and are non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants. At the time of Closing, the Company estimated the aggregate fair value of the Private Warrants and recognized a liability of $150. Both the Public Warrants and Private Warrants were subject to adjustment if the Company issued additional equity securities below specified levels in connection with the Merger. As a result of the issuances of shares under the PIPE Subscription Agreement and other agreements in connection with the Merger, the Company adjusted the exercise price of the warrants from $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250929__us-gaap--TypeOfArrangementAxis__custom--PIPESubscriptionAgreementMember_zEA2ckqiOGze" title="Class of warrant or right, exercise price of warrants or rights">11.50 to $<span id="xdx_903_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--TypeOfArrangementAxis__custom--PIPESubscriptionAgreementMember_zYB60mefLNsh" title="Class of warrant or right, exercise price of warrants or rights">5.79 per share and adjusted the redemption trigger price from $<span id="xdx_90E_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_iI_pid_c20250929__us-gaap--TypeOfArrangementAxis__custom--PIPESubscriptionAgreementMember_zuaMOjlcXe3b" title="Trigger price">18.00 to $<span id="xdx_909_ecustom--ClassOfWarrantOrRightRedemptionOfWarrantsOrRightsStockPriceTrigger_iI_pid_c20250930__us-gaap--TypeOfArrangementAxis__custom--PIPESubscriptionAgreementMember_z6Edm0l8F4V3" title="Trigger price">9.06 per share. During the year ended September 30, 2024, the Company recognized a noncash deemed dividend of $661 as a result of the warrant price adjustment. PIPE Warrants In connection with the PIPE Subscription Agreements, the Company issued the investors warrants to purchase shares of Class A Common Stock at an exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--TypeOfArrangementAxis__custom--PIPESubscriptionAgreementMember__us-gaap--ClassOfWarrantOrRightAxis__custom--PIPEWarrantsMember_zxBkILm5bU62" title="Exercise price per share">0.01 per share. The Company evaluated these warrants and concluded that they meet the derivative scope exception for contracts in the Company’s own stock. Consequently, the PIPE warrants were recorded in stockholders’ equity. During the year ended September 30, 2025, <span id="xdx_908_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--TypeOfArrangementAxis__custom--PIPESubscriptionAgreementMember_zAL7LTYc1Wnd" title="Number of warrants issued">1,500,000 PIPE warrants were exercised, for net proceeds of $15. Other Warrants During the year ended September 30, 2024, the Company issued warrants to purchase <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240930__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zdFPEx4vUBe6" title="Purchase warrant">130,000 shares of its Class A Common Stock at $<span id="xdx_901_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240930__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zihAx1GOju6k" title="Exercise price per share">0.01 per share to a service provider, in respect of services rendered to Legacy Mobix prior to the Merger. In addition, as described in Note 10, Debt, during the year ended September 30, 2024 Legacy Mobix failed to repay the principal amount of a note payable by its maturity date and was obligated to issue warrants to purchase <span id="xdx_903_eus-gaap--DebtConversionConvertedInstrumentWarrantsOrOptionsIssued1_pid_c20231001__20240930__us-gaap--ClassOfWarrantOrRightAxis__us-gaap--WarrantMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zqHAvT9Sxnz2" title="Warrants issued">103,000 shares of its Class A Common Stock at $<span id="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--RelatedPartyTransactionAxis__custom--LegacyMobixMember_zspaZcLjKCxh" title="Exercise price per share">0.01 per share to the lender as additional consideration. The Company initially recorded a liability of $732 in the consolidated balance sheets for the estimated fair value of the warrants. For the year ended September 30, 2024, the Company recognized a non-cash gain of $400 from the change in the fair value of the liability, which is included in “Other non-operating losses, net” in the consolidated statements of operations and comprehensive loss. The Company valued the warrants using a probability-weighted expected return model. In April 2024, the Company issued the warrants to the lender, and the lender exercised the warrants. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Legacy Mobix Warrants In connection with the Merger, all of Legacy Mobix’s outstanding warrants were assumed by the Company and converted into the same number of warrants to purchase shares of the Company’s Class A Common Stock, with no change to their exercise prices or other terms. Subsequent to the Merger, warrants to purchase an aggregate of <span id="xdx_902_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--LegacyMobixWarrantsMember_zAmIvnNcTaNi" title="Issuance of warrants">373,031 shares were exercised and converted into <span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20250930__us-gaap--ClassOfWarrantOrRightAxis__custom--LegacyMobixWarrantsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zzwEIJRa3Wp5" title="Issuance of warrants">369,671 shares of Class A Common Stock, with no cash proceeds to the Company. During the year ended September 30, 2024, Legacy Mobix granted warrants to purchase an aggregate of <span id="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20240930__us-gaap--ClassOfWarrantOrRightAxis__custom--LegacyMobixWarrantsMember_zJoEUipFbwt3" title="Issuance of warrants">27,413 shares of common stock at a price of $0.01 per share to investors in connection with the sale of shares of its common stock. See Note 14, Equity. Accounting for Liability-Classified Warrants The Company evaluated all common stock warrants at the time of issuance (or at the Closing) and concluded that the Private Warrants, Pre-Funded Warrants, PIPE Common Warrants, Common Warrants, Inducement Warrants and do not meet the derivative scope exception. Specifically, these warrants contain provisions that affect their settlement amounts which are not inputs into the pricing of a fixed-for-fixed option on equity shares. Therefore, these warrants are not considered indexed to the Company’s stock and must be classified as liabilities. At their respective dates of issuance (or, in the case of the Private Warrants, at the time of the Merger), the Company recognized a liability for each of the warrants in the amount of their estimated fair value using the Black-Scholes option-pricing model. The Company subsequently adjusted the carrying amount of the liability for each warrant to its estimated fair value as of September 30, 2025 and 2024 (or through the warrants’ respective dates of exercise, if earlier). As a result of changes in the fair value of the warrants, for the years ended September 30, 2025 and 2024, the Company recognized net non-cash gains of $804 and $1,415, respectively, which are included in “Change in fair value of warrants” in the consolidated statements of operations and comprehensive loss. As of September 30, 2025 and 2024, the related liabilities of $6,859 and $2,139, respectively, are included in “Other noncurrent liabilities” in the consolidated balance sheets. See Note 17, Fair Value Measurements, for additional information on the Company’s measurements with respect to liability-classified warrants. Outstanding warrants consist of the following: Schedule of Outstanding Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250930_z3svHSjBqJFj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240930_z6a859Kiqdfk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--PublicWarrantsMember_zYvvBAcNxoN5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Public Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">6,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">6,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--PrivateWarrantsMember_zQrEs2M5Cn23" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Private Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,000,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--PIPEWarrantsMember_zDQsXK0RaiFb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">PIPE Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">250,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,750,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--PIPECommonWarrantsMember_zBj8QaA4DQLj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">PIPE Common Warrants (July 2024 Private Placement)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,785,491</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,755,396</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--CommonWarrantsMember_zarQBMXdG2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Common Warrants (April 2025 Offering)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,360,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--InducementWarrantsMember_zTv7lmkRIvxa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Inducement Warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,229,701</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_hus-gaap--SubsidiarySaleOfStockAxis__custom--OtherWarrantsMember_zx72mpl2AeR2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,460,242</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,170,403</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--ClassOfWarrantOrRightOutstanding_iI_pid_z0DdWg9ZY2Nd" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">25,085,732</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">18,675,799</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6000000

3000000

250000

1750000

2785491

5755396

2360298

8229701

2460242

2170403

25085732

18675799

3850000

1026860

4876860

0.0001

0.8202

3645000

355000

682760

0.8202

2030-04-04

443000

2877698

5755396

0.001

2877698

1.39

4000000

415000

3000

201439

1.7375

0.08 0.070 2894000

5755396

1.39

0.8202

5486467

1484953

1484952

2516562

0.8202

4500

315

384053

1.08

8229701

1.08

6458

6000000

3000000

0.01

18.00

150000

11.50

5.79

18.00 9.06

661000

0.01

1500000

15000

130000

0.01

103000

0.01

732000

400000

373031

369671

27413

0.01

-804000

-1415000

6859000 2139000

Note 16 — Stock-Based Compensation In connection with the Merger, the Company adopted the 2023 Equity Incentive Plan, which provides for the issuance of stock options, restricted stock awards, RSUs and other stock-based compensation awards to employees, directors, officers, consultants or others who provide services to the Company. The specific terms of such awards are to be established by the board of directors or a committee thereof. As of September 30, 2025, <span id="xdx_903_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20250930__us-gaap--PlanNameAxis__custom--TwoThousandsTwentyThreeEquityIncentivePlanMember_zcU1bHMKcYOf" title="Common stock, capital shares reserved for future issuance">2,560,898 shares of the Company’s Class A Common Stock are available for the grant of awards under the 2023 Equity Incentive Plan. Also in connection with the Merger, the Company adopted the 2023 Employee Stock Purchase Plan to assist eligible employees in acquiring stock ownership in the Company and the Company reserved <span id="xdx_906_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20250930__us-gaap--PlanNameAxis__custom--TwoThousandsTwentyThreeEmployeeStockPurchasePlanMember_zf6ZhlsiQLab" title="Common stock, capital shares reserved for future issuance">687,055 shares of its Class A Common Stock for issuance under the plan. As of September 30, 2025, the Company had not commenced any offering period nor sold any shares under this plan. Restricted Stock Units In connection with the Merger, all of Legacy Mobix’s RSUs were assumed by the Company and converted into an RSU covering the same number of shares of the Company’s Class A Common Stock. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) As of September 30, 2023, the Company had committed to issue to certain officers and key employees, contingent upon closing of the Merger, an aggregate of <span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_pid_c20230930__20230930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zkczneutKhe" title="Stock issued during period restricted stock unit">5,000,000 RSUs (of which <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20230930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zdR23yMcRidl" title="Issuance of warrants">1,000,000 were modified to warrants to purchase shares of the Company’s Class A Common Stock upon the holder’s termination of employment) over three years, beginning on the first anniversary of the Closing of the Merger. Because the vesting of these awards was subject to both a service condition and a performance condition (the completion of the Merger), the Company initially determined that vesting of the awards was not probable and did not recognize any stock-based compensation expense for these awards prior to the Closing. Upon Closing, the performance condition was satisfied, and vesting of the awards is subject only to a service condition. As a result, the Company is required to recognize the value of these awards over the requisite service period. During the year ended September 30, 2024, the Company recognized a catch-up for the portion of the service period completed prior to the performance condition being satisfied and is recognizing the remainder of the cost over the remaining service period. Also during the year ended September 30, 2024, in connection with a separation of employment, the Company modified <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_pid_c20231001__20240930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zw4GgQ3p3kg2" title="Share based compensation forfeited">1,000,000 RSUs held by an employee such that the RSUs—which were subject to forfeiture under their original terms—would continue to vest over their original service period. Because the fair value of the modified awards was lower than the grant-date fair value of the original awards, the Company recognized a $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20231001__20240930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zJs25xwOxn07" title="Stock based compensation expense">2,242 reduction of stock-based compensation expense during the year ended September 30, 2024. During the year ended September 30, 2025, the Company and a former employee entered into certain agreements wherein the Company agreed to accelerate the vesting of <span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAcceleratedVestingNumber_pid_c20241001__20250930__us-gaap--SubsidiarySaleOfStockAxis__custom--CommonStockWarrantsMember_zObQAk0hm4Wf" title="Accelerate vesting shares">999,999 common stock warrants and grant the holder an additional <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20250930__us-gaap--SubsidiarySaleOfStockAxis__custom--CommonStockWarrantsMember_zufKjFycSJel" title="Additional grant shares">250,000 common stock warrants. The warrants are immediately exercisable and have an exercise price of $<span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250930__us-gaap--SubsidiarySaleOfStockAxis__custom--CommonStockWarrantsMember_zVWSoWHYCuRl" title="Exercise price per shares">0.01 per share. Subsequently, the Company agreed to cancel <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationForfeited_pid_c20241001__20250930__us-gaap--SubsidiarySaleOfStockAxis__custom--CommonStockWarrantsMember_zSOO6Q5m93b8" title="Cancelled shares">450,000 of these common stock warrants and replace them with the same number of fully vested RSUs. As a result of the acceleration of vesting and the grant of the warrants, during the year ended September 30, 2025 the Company recognized additional stock-based compensation expense of $6,917. <p id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_z52ElyITYE32" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">A summary of activity in the Company’s RSUs for the year ended September 30, 2025 is as follows: Schedule of Activity in the Company's RSUs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Grant Date Fair Value per Unit</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Outstanding at September 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zl4Krzf87zS9" style="width: 14%; text-align: right" title="Number of units, outstanding balance">4,463,253</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zG6bcCkeTRz8" style="width: 14%; text-align: right" title="Weighted-average grant date fair value per unit, balance">7.93</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z75mF0tiQc1h" style="text-align: right" title="Number of units, issued">11,036,957</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zECJ0iIhHrRc" style="text-align: right" title="Weighted average grant date fair value per unit issued">0.96</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zygJIxz7qno9" style="text-align: right" title="Number of units, forfeited">(47,775</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEd9QjW5V5Yd" style="text-align: right" title="Weighted average grant date fair value per unit forfeited">3.36</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7f1UrQn9id9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of units, vested">(5,906,427</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z6IsUlXqbKrl" style="padding-bottom: 1pt; text-align: right" title="Weighted average grant date fair value per unit vested">0.96</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfS2xqPcnaOb" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of units, outstanding balance">9,546,008</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zHJfS8DVMqd3" style="padding-bottom: 2.5pt; text-align: right" title="Weighted-average grant date fair value per unit, balance">4.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Unrecognized compensation expense related to RSUs was $<span id="xdx_907_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn3n3_c20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zKsmze69Fx6" title="Unrecognized stock based compensation expense">14,066 as of September 30, 2025 and is expected to be recognized over a weighted-average period of <span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zGP56uZH0BZi" title="Weighted average period term">2.0 years. Restricted Stock Awards During the year ended September 30, 2025, the Company granted restricted stock awards (“RSAs”) for a total of <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesShareBasedCompensationGross_pid_c20241001__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__srt--TitleOfIndividualAxis__custom--TwoOfficersAndDirectorsMember_zG3M0RuN80V4" title="Restricted stock awards grant">5,100,000 shares of the Company’s Class A Common Stock to two officers and directors of the Company. The restricted stock awards were made pursuant to separate award agreements between the Company and each of the recipients. One RSA will vest in specified quarterly amounts from July 2025 through July 2028; the other RSA will vest over a two-year period and can be accelerated if certain stock price thresholds are met. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) A summary of activity in the Company’s RSAs for the year ended September 30, 2025 is as follows: Schedule of Activity in the Company's RSAs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Grant Date Fair Value per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at September 30, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_ztFEmcBh6Ci3" style="text-align: right" title="Number of units, outstanding balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zSe66azemZW9" style="text-align: right" title="Weighted-average grant date fair value per unit, balance">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%">Issued</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_z0hzubJoWO1h" style="width: 14%; text-align: right" title="Number of units, issued">5,100,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zz9mYcx8L6g5" style="width: 14%; text-align: right" title="Weighted average grant date fair value per unit issued">0.70</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zGvBa3nl0yKl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of units, vested">(227,500</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zMiVxWgUqiq5" style="padding-bottom: 1pt; text-align: right" title="Weighted average grant date fair value per unit vested">0.70</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zWdsdpf91wIa" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of units, outstanding balance">4,872,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zy60FDOCXFsf" style="padding-bottom: 2.5pt; text-align: right" title="Weighted-average grant date fair value per unit, balance">0.70</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Unrecognized compensation expense related to RSAs was $<span id="xdx_90E_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn3n3_c20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_z20pmvZ76hh9" title="Unrecognized compensation expense">2,855 as of September 30, 2025 and is expected to be recognized over a weighted-average period of <span id="xdx_905_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zWUljH6qDh91" title="Weighted average period term">2.0 years. Stock Options Stock options granted under the Company’s equity incentive plan may be Incentive Stock Options (“ISOs”) or Non-Statutory Stock Options (“NSOs”). ISOs may be granted only to employees and NSOs may be granted to employees and consultants. The types of awards granted to consultants do not vary in characteristics from those granted to employees. The term of each option, which is stated in each option agreement, cannot exceed ten years from the date of grant. The exercise price is determined by the Company’s board of directors. If granted to an employee (other than employee who owns stock representing more than 10% of the voting power of all classes of stock), the option exercise price cannot be less than the fair market value of the stock on the date of grant as determined by the Company’s board of directors. Vesting requirements for options granted under the plans are determined by the board of directors. Stock option awards generally vest over periods of one to four years. Certain awards require the performance of one year of service before vesting commences, with a specified percentage of the award vesting after one year of service, and the remainder vesting ratably over the remaining vesting period. In connection with the Merger, all Legacy Mobix stock options were assumed by the Company and converted into the same number of stock options of the Company, with no change to their exercise prices, vesting conditions or other terms. Stock option activity for the year ended September 30, 2025 is as follows: Schedule of Stock Option Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Exercise Price per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Remaining Contractual Term (years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Outstanding at September 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20241001__20250930_zA3HzIrnB0Ca" style="width: 12%; text-align: right" title="Number of options outstanding, balance">2,740,846</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20241001__20250930_zCNaBITNXHnc" style="width: 12%; text-align: right" title="Weighted average exercise price, outstanding balance">4.89</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20241001__20250930_zHthTFPWkKmh" style="text-align: right" title="Number of options outstanding, Expired">(71,569</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20241001__20250930_zuPDMxU5YVba" style="text-align: right" title="Weighted average exercise price, forfeited">6.03</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriod_iN_pid_di_c20241001__20250930_zXOroiMYWNAk" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Forfeited">(216,953</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20241001__20250930_zXztrNtK4xD7" style="padding-bottom: 1pt; text-align: right" title="Weighted average exercise price, expired">4.92</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20241001__20250930_zzd9RCoYzHYj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding, balance">2,452,324</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20241001__20250930_zs5DEGR7SOoi" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, outstanding balance">4.85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20241001__20250930_zCJv6DrH1026" title="Weighted average remaining contractual term, outstanding">5.9</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20241001__20250930_zifV0Ay013hc" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, exercisable">2,331,189</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20241001__20250930_zzlXL37t35hd" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, exerciseable">4.75</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20241001__20250930_zrZu1P1u5JO2" title="Weighted average remaining contractual term, exercisable">5.8</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Unrecognized stock-based compensation expense related to stock options, totaling $399 as of September 30, 2025, is expected to be recognized over a weighted-average period of <span id="xdx_90A_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20241001__20250930_zAOvJd3JEp63" title="Weighted average period term">1.1 years. The aggregate intrinsic value of stock options outstanding and stock options exercisable as of September 30, 2025 was $<span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue_iI_pn3n3_c20250930_zy5GQLQvaeMj" title="Stock options outstanding">414 and $414, respectively. The total intrinsic value of options exercised during the year ended September 30, 2024 was $4,709. The total fair value of options that vested during the years ended September 30, 2025 and 2024 was $593 and $1,726, respectively. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) The weighted-average grant date fair value of options granted during the year ended September 30, 2024 was $<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20231001__20240930_zY5YoI7DuWv6" title="Weighted average grant date dair value of options">3.50. The fair value of stock options granted was estimated with the following assumptions: <p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zm2r40wGY5V5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> Schedule of Weighted-Average Grant Date Fair Value of Options Granted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended September 30, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Low</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">High</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Expected volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MinimumMember_z2WDwXmj37Rk" style="width: 12%; text-align: right" title="Expected volatility">54.8</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MaximumMember_zExHMzYA57O" style="width: 12%; text-align: right" title="Expected volatility">55.6</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MinimumMember_zyZmpul8H2Wf" style="text-align: right" title="Expected dividend yield">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MaximumMember_zGroASpVfdM5" style="text-align: right" title="Expected dividend yield">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MinimumMember_zhFnFMRd5GU5" style="text-align: right" title="Risk free interest rate">3.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MaximumMember_z54ypqVsTefb" style="text-align: right" title="Risk free interest rate">4.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240930__srt--RangeAxis__srt--MinimumMember_zmuhFASvjJmh" title="Expected term (years)">4.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240930__srt--RangeAxis__srt--MaximumMember_zViIg95fmhwh" title="Expected term (years)">5.3</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_895_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zHzi7dTWAYb7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The consolidated statements of operations and comprehensive loss include stock-based compensation expense as follows: Schedule of Consolidated Statements of Operations and Comprehensive Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_493_20241001__20250930_zBh9O8M03LF1" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49E_20231001__20240930_zWHnZzhOH7Wk" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--CostOfSalesMember__srt--ProductOrServiceAxis__us-gaap--ProductMember_z39yVythd6X1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Cost of revenue – product</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">174</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">15</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--CostOfSalesMember__srt--ProductOrServiceAxis__us-gaap--ServiceMember_zIgdW1IBIu19" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cost of revenue – services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zkHjEhi9pj0i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">338</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,124</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zq2P7b1lawP6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Selling, general and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,098</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,244</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ShareBasedCompensation_pn3n3_z1oixHfoSfq4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total stock-based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">25,619</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">21,383</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2560898

687055

5000000

1000000

2242000

999999

250000

0.01

450000

6917000

<p id="xdx_891_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_z52ElyITYE32" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">A summary of activity in the Company’s RSUs for the year ended September 30, 2025 is as follows: Schedule of Activity in the Company's RSUs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Grant Date Fair Value per Unit</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Outstanding at September 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zl4Krzf87zS9" style="width: 14%; text-align: right" title="Number of units, outstanding balance">4,463,253</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zG6bcCkeTRz8" style="width: 14%; text-align: right" title="Weighted-average grant date fair value per unit, balance">7.93</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Issued</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z75mF0tiQc1h" style="text-align: right" title="Number of units, issued">11,036,957</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zECJ0iIhHrRc" style="text-align: right" title="Weighted average grant date fair value per unit issued">0.96</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zygJIxz7qno9" style="text-align: right" title="Number of units, forfeited">(47,775</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEd9QjW5V5Yd" style="text-align: right" title="Weighted average grant date fair value per unit forfeited">3.36</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7f1UrQn9id9" style="border-bottom: Black 1pt solid; text-align: right" title="Number of units, vested">(5,906,427</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z6IsUlXqbKrl" style="padding-bottom: 1pt; text-align: right" title="Weighted average grant date fair value per unit vested">0.96</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Outstanding at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfS2xqPcnaOb" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of units, outstanding balance">9,546,008</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20241001__20250930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zHJfS8DVMqd3" style="padding-bottom: 2.5pt; text-align: right" title="Weighted-average grant date fair value per unit, balance">4.21</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4463253

7.93

11036957

0.96

47775

3.36

5906427

0.96

9546008

4.21

14066000

P2Y

5100000

A summary of activity in the Company’s RSAs for the year ended September 30, 2025 is as follows: Schedule of Activity in the Company's RSAs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of units</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Grant Date Fair Value per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding at September 30, 2024</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_ztFEmcBh6Ci3" style="text-align: right" title="Number of units, outstanding balance">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zSe66azemZW9" style="text-align: right" title="Weighted-average grant date fair value per unit, balance">—</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 64%">Issued</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_z0hzubJoWO1h" style="width: 14%; text-align: right" title="Number of units, issued">5,100,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zz9mYcx8L6g5" style="width: 14%; text-align: right" title="Weighted average grant date fair value per unit issued">0.70</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Vested</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zGvBa3nl0yKl" style="border-bottom: Black 1pt solid; text-align: right" title="Number of units, vested">(227,500</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zMiVxWgUqiq5" style="padding-bottom: 1pt; text-align: right" title="Weighted average grant date fair value per unit vested">0.70</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zWdsdpf91wIa" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of units, outstanding balance">4,872,500</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20241001__20250930__us-gaap--AwardTypeAxis__custom--RestrictedStockAwardsMember_zy60FDOCXFsf" style="padding-bottom: 2.5pt; text-align: right" title="Weighted-average grant date fair value per unit, balance">0.70</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

5100000

0.70

227500

0.70

4872500

0.70

2855000

P2Y

Stock option activity for the year ended September 30, 2025 is as follows: Schedule of Stock Option Activity <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Exercise Price per Share</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted- Average Remaining Contractual Term (years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%">Outstanding at September 30, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20241001__20250930_zA3HzIrnB0Ca" style="width: 12%; text-align: right" title="Number of options outstanding, balance">2,740,846</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20241001__20250930_zCNaBITNXHnc" style="width: 12%; text-align: right" title="Weighted average exercise price, outstanding balance">4.89</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20241001__20250930_zHthTFPWkKmh" style="text-align: right" title="Number of options outstanding, Expired">(71,569</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20241001__20250930_zuPDMxU5YVba" style="text-align: right" title="Weighted average exercise price, forfeited">6.03</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Expired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpiredInPeriod_iN_pid_di_c20241001__20250930_zXOroiMYWNAk" style="border-bottom: Black 1pt solid; text-align: right" title="Number of options outstanding, Forfeited">(216,953</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice_pid_c20241001__20250930_zXztrNtK4xD7" style="padding-bottom: 1pt; text-align: right" title="Weighted average exercise price, expired">4.92</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Outstanding at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20241001__20250930_zzd9RCoYzHYj" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options outstanding, balance">2,452,324</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20241001__20250930_zs5DEGR7SOoi" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, outstanding balance">4.85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20241001__20250930_zCJv6DrH1026" title="Weighted average remaining contractual term, outstanding">5.9</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Exercisable at September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20241001__20250930_zifV0Ay013hc" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of options, exercisable">2,331,189</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20241001__20250930_zzlXL37t35hd" style="padding-bottom: 2.5pt; text-align: right" title="Weighted average exercise price, exerciseable">4.75</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20241001__20250930_zrZu1P1u5JO2" title="Weighted average remaining contractual term, exercisable">5.8</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2740846

4.89

71569

6.03

216953

4.92

2452324

4.85

P5Y10M24D

2331189

4.75

P5Y9M18D

399000

P1Y1M6D

414000

4709000

593000

1726000

3.50

<p id="xdx_89A_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zm2r40wGY5V5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> Schedule of Weighted-Average Grant Date Fair Value of Options Granted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">Year ended September 30, 2024</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Low</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">High</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Expected volatility</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MinimumMember_z2WDwXmj37Rk" style="width: 12%; text-align: right" title="Expected volatility">54.8</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MaximumMember_zExHMzYA57O" style="width: 12%; text-align: right" title="Expected volatility">55.6</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected dividend yield</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MinimumMember_zyZmpul8H2Wf" style="text-align: right" title="Expected dividend yield">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MaximumMember_zGroASpVfdM5" style="text-align: right" title="Expected dividend yield">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MinimumMember_zhFnFMRd5GU5" style="text-align: right" title="Risk free interest rate">3.9</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20231001__20240930__srt--RangeAxis__srt--MaximumMember_z54ypqVsTefb" style="text-align: right" title="Risk free interest rate">4.4</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected term (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240930__srt--RangeAxis__srt--MinimumMember_zmuhFASvjJmh" title="Expected term (years)">4.5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20231001__20240930__srt--RangeAxis__srt--MaximumMember_zViIg95fmhwh" title="Expected term (years)">5.3</td><td style="text-align: left"> </td></tr> </table>

0.548

0.556

0.039

0.044

P4Y6M

P5Y3M18D

<p id="xdx_895_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zHzi7dTWAYb7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The consolidated statements of operations and comprehensive loss include stock-based compensation expense as follows: Schedule of Consolidated Statements of Operations and Comprehensive Loss <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_493_20241001__20250930_zBh9O8M03LF1" style="display: none"> </td><td style="display: none"> </td><td style="display: none"> </td> <td colspan="2" id="xdx_49E_20231001__20240930_zWHnZzhOH7Wk" style="display: none"> </td><td style="display: none"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--CostOfSalesMember__srt--ProductOrServiceAxis__us-gaap--ProductMember_z39yVythd6X1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 68%; text-align: left">Cost of revenue – product</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">174</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">15</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--CostOfSalesMember__srt--ProductOrServiceAxis__us-gaap--ServiceMember_zIgdW1IBIu19" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cost of revenue – services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--ResearchAndDevelopmentExpenseMember_zkHjEhi9pj0i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">338</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,124</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ShareBasedCompensation_pn3n3_hus-gaap--IncomeStatementLocationAxis__us-gaap--SellingGeneralAndAdministrativeExpensesMember_zq2P7b1lawP6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Selling, general and administrative</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,098</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20,244</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--ShareBasedCompensation_pn3n3_z1oixHfoSfq4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total stock-based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">25,619</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">21,383</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

174000

15000

9000

338000

1124000

25098000

20244000

25619000

21383000

Note 17 — Fair Value Measurements The carrying amounts of the Company’s cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these instruments. The Company believes the aggregate carrying value of debt approximates its fair value as of September 30, 2025 and 2024 due to the relatively short duration of the notes payable, the <span id="xdx_90C_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20250930__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesRelatedPartiesMember_zoXqLY0s6Aee" title="Debt instrument interest rate stated percentage"><span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20240930__us-gaap--DebtInstrumentAxis__custom--PromissoryNotesRelatedPartiesMember_zIF706otUiC9" title="Debt instrument interest rate stated percentage">7% promissory notes - related parties and the notes payable - related parties. Fair Value Hierarchy Liabilities measured at fair value on a recurring basis as of September 30, 2025 are as follows: Schedule of Fair Value Assets And Liabilities Measured On Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241001__20250930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zI37MMTEPdG8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241001__20250930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zrjRbI44Kqa5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241001__20250930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zhgA3HfOzRed" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20241001__20250930_zD9m1XZPWHPj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_ecustom--FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLosses_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--EarnoutLiabilityMember_zikpDtpIhbz8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Earnout liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,240</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,240</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLosses_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--LiabilityClassifiedWarrantsMember_zVBnS2u11xk8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Liability-classified warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,859</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,859</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLosses_pn3n3_zBkwOErMf7d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,099</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,099</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company classifies the earnout liability, the PIPE make-whole liability and the liability-classified warrants and the SAFEs as Level 3 financial instruments due to the judgment required to develop the assumptions used and the significance of those assumptions to the fair value measurement. No financial instruments were transferred between levels of the fair value hierarchy during the years ended September 30, 2025 or 2024. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) <p id="xdx_89B_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zztYapywWf79" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table provides a reconciliation of the balance of financial instruments measured at fair value on a recurring basis using Level 3 inputs: Schedule of Fair Value Measured On Recurring Basis Unobservable Input Reconciliation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_us-gaap--SubsidiarySaleOfStockAxis_custom--EarnoutLiabilityMember_zLPcKwaEKg7l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Earnout Liability</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B2_us-gaap--SubsidiarySaleOfStockAxis_custom--LiabilityClassifiedWarrantsMember_zWDxaLucb5S" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Liability Classified Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--SubsidiarySaleOfStockAxis_custom--PIPEMakeWholeLiabilityMember_zQ0tYVcDtui7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">PIPE Make-Whole Liability</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B6_us-gaap--SubsidiarySaleOfStockAxis_custom--SAFEsMember_zhgL1oqKws1b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SAFEs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20231001__20240930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_z3q9ttiIsP22" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">Balance, September 30, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityRecognized_pn3n3_zCeLWZWjovli" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liabilities recognized in the Merger</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,559</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales_pn3n3_z0F0pxHheN1h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Sale of warrants in the July 2024 Private Placement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--OtherWarrantsIssued_pn3n3_zA12mVEZf4xi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other warrants issued</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ConversionOfSafesToCommonStock_pn3n3_zVqYvIDWcynh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion to Class A Common Stock in the Merger</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,522</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisExerciseOfWarrants_pn3n3_zG90f2bUgqTg" style="vertical-align: bottom; background-color: White"> <td>Exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,393</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_pn3n3_zbTftXB09nme" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Settlement of liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(332</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,241</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeLossAttributableToParent_pn3n3_zXOSzwUhT15f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value included in net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(31,879</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,415</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(830</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_436_c20241001__20250930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zF3X1odqjn03" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance, September 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,680</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales_pn3n3_zto6viJmixbb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sale of warrants in the April 2025 Offering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,853</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProceedsFromIssuanceOfWarrants_pn3n3_zxTdEY7I9nBg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Issuance of inducement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,699</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringModificationOfWarrants_pn3n3_zAffTDENh3Gj" style="vertical-align: bottom; background-color: White"> <td>Modification of warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisExerciseOfWarrants_pn3n3_zNm1rpNDywO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,242</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossAttributableToParent_pn3n3_zvzrSoa79ar9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value included in net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(440</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(804</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20241001__20250930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zS12YskpnZdf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance, September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,240</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,859</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Liability-Classified Warrants The Company estimates the fair value of liability classified warrants, other than the Private Warrants, using the Black-Scholes option pricing model, as described above under Note 2 — Summary of Significant Accounting Policies—Stock-Based Compensation. The following table summarizes the assumptions used in estimating the fair value of liability-classified warrants at the respective dates: Schedule of Fair Value of Liability-Classified Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--SharePrice_iI_pid_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zXAtkyKbWTNk" style="width: 14%; text-align: right" title="Stock price">0.81</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--SharePrice_iI_pid_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zxgfIhoB2r0c" style="width: 14%; text-align: right" title="Stock price">1.06</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zBvM5z65YtH7" title="Expected volatility">79.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zeNB8moqOCs5" title="Expected volatility">55.7</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zg5RCJwFiBU6" title="Risk-free rate">3.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MinimumMember_ziUw8oXTGKr6" title="Risk-free rate">3.5 – <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MaximumMember_zdmBzU6JABi7" title="Risk-free rate">3.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contractual term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MinimumMember_zfO4nNihTMUb" title="Contractual term">4.3 – <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MaximumMember_z4RmGGrkKbJi" title="Contractual term">4.9 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MinimumMember_zWK4TfzD9dfg" title="Contractual term">1.1 – <span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MaximumMember_zyC2XWl0CX21" title="Contractual term">5.1 years</td><td style="text-align: left"> </td></tr> </table> The Company estimates the fair value of the Private Warrants based on quoted market prices for the Public Warrants, which have substantially the same economic characteristics. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Earnout Liability The Company estimates the fair value of the earnout liability using a Monte Carlo simulation model that utilizes assumptions, including volatility, expected term and risk-free rate that determine the probability of achieving the earnout conditions. The following table summarizes the assumptions used in estimating the fair value of the earnout liability at the respective dates: <div id="xdx_C0B_gL3FVCORTB-NBEOJZM_zKatYwxrmzob"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--SharePrice_iI_pid_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_z9Ob6kCa6ja1" style="width: 14%; text-align: right" title="Stock price">0.81</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--SharePrice_iI_pid_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_znRv6vBf5nP" style="width: 14%; text-align: right" title="Stock price">1.06</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zbVOEg79aaCi" title="Expected volatility">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_z6107OS1TaB2" title="Expected volatility">70</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zYmQmsZsQAq4" title="Risk-free rate">3.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zBjfif07BsR8" title="Risk-free rate">3.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contractual term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zgYcpAcQfNX9" title="Contractual term">6.2 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zVZkOtLr07Zg" title="Contractual term">7.2 years</td><td style="text-align: left"> </td></tr> </table> </div></div>

0.07

Liabilities measured at fair value on a recurring basis as of September 30, 2025 are as follows: Schedule of Fair Value Assets And Liabilities Measured On Recurring Basis <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20241001__20250930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zI37MMTEPdG8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20241001__20250930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zrjRbI44Kqa5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241001__20250930__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zhgA3HfOzRed" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20241001__20250930_zD9m1XZPWHPj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_ecustom--FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLosses_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--EarnoutLiabilityMember_zikpDtpIhbz8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Earnout liability</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,240</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">1,240</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLosses_pn3n3_hus-gaap--SubsidiarySaleOfStockAxis__custom--LiabilityClassifiedWarrantsMember_zVBnS2u11xk8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Liability-classified warrants</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,859</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,859</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_ecustom--FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLosses_pn3n3_zBkwOErMf7d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,099</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,099</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1240000 1240000 6859000 6859000 8099000 8099000

<p id="xdx_89B_eus-gaap--FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_zztYapywWf79" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table provides a reconciliation of the balance of financial instruments measured at fair value on a recurring basis using Level 3 inputs: Schedule of Fair Value Measured On Recurring Basis Unobservable Input Reconciliation <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4BC_us-gaap--SubsidiarySaleOfStockAxis_custom--EarnoutLiabilityMember_zLPcKwaEKg7l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Earnout Liability</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B2_us-gaap--SubsidiarySaleOfStockAxis_custom--LiabilityClassifiedWarrantsMember_zWDxaLucb5S" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Liability Classified Warrants</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B1_us-gaap--SubsidiarySaleOfStockAxis_custom--PIPEMakeWholeLiabilityMember_zQ0tYVcDtui7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">PIPE Make-Whole Liability</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_4B6_us-gaap--SubsidiarySaleOfStockAxis_custom--SAFEsMember_zhgL1oqKws1b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">SAFEs</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20231001__20240930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_z3q9ttiIsP22" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%">Balance, September 30, 2023</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityRecognized_pn3n3_zCeLWZWjovli" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liabilities recognized in the Merger</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,559</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales_pn3n3_z0F0pxHheN1h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Sale of warrants in the July 2024 Private Placement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--OtherWarrantsIssued_pn3n3_zA12mVEZf4xi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other warrants issued</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ConversionOfSafesToCommonStock_pn3n3_zVqYvIDWcynh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Conversion to Class A Common Stock in the Merger</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,522</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisExerciseOfWarrants_pn3n3_zG90f2bUgqTg" style="vertical-align: bottom; background-color: White"> <td>Exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,393</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements_pn3n3_zbTftXB09nme" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Settlement of liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(332</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,241</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--IncomeLossAttributableToParent_pn3n3_zXOSzwUhT15f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value included in net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(31,879</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,415</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(830</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_436_c20241001__20250930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iS_pn3n3_zF3X1odqjn03" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance, September 30, 2024</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,680</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,139</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySales_pn3n3_zto6viJmixbb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Sale of warrants in the April 2025 Offering</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,853</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ProceedsFromIssuanceOfWarrants_pn3n3_zxTdEY7I9nBg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Issuance of inducement warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,699</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringModificationOfWarrants_pn3n3_zAffTDENh3Gj" style="vertical-align: bottom; background-color: White"> <td>Modification of warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,214</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisExerciseOfWarrants_pn3n3_zNm1rpNDywO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,242</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossAttributableToParent_pn3n3_zvzrSoa79ar9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value included in net loss</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(440</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(804</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_43D_c20241001__20250930_eus-gaap--FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_iE_pn3n3_zS12YskpnZdf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Balance, September 30, 2025</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,240</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,859</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1512000

33559000 150000 2071000

6397000

732000 -1522000 -3393000

-332000

-1241000

-31879000

-1415000

-830000

10000

1680000

2139000

2853000

5699000

1214000 -4242000

-440000

-804000

1240000

6859000

Schedule of Fair Value of Liability-Classified Warrants <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--SharePrice_iI_pid_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zXAtkyKbWTNk" style="width: 14%; text-align: right" title="Stock price">0.81</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--SharePrice_iI_pid_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zxgfIhoB2r0c" style="width: 14%; text-align: right" title="Stock price">1.06</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zBvM5z65YtH7" title="Expected volatility">79.0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zeNB8moqOCs5" title="Expected volatility">55.7</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember_zg5RCJwFiBU6" title="Risk-free rate">3.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MinimumMember_ziUw8oXTGKr6" title="Risk-free rate">3.5 – <span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MaximumMember_zdmBzU6JABi7" title="Risk-free rate">3.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contractual term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MinimumMember_zfO4nNihTMUb" title="Contractual term">4.3 – <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MaximumMember_z4RmGGrkKbJi" title="Contractual term">4.9 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MinimumMember_zWK4TfzD9dfg" title="Contractual term">1.1 – <span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--LiabilityClassifiedWarrantsMember__srt--RangeAxis__srt--MaximumMember_zyC2XWl0CX21" title="Contractual term">5.1 years</td><td style="text-align: left"> </td></tr> </table> <div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Stock price</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--SharePrice_iI_pid_c20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_z9Ob6kCa6ja1" style="width: 14%; text-align: right" title="Stock price">0.81</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--SharePrice_iI_pid_c20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_znRv6vBf5nP" style="width: 14%; text-align: right" title="Stock price">1.06</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Expected volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zbVOEg79aaCi" title="Expected volatility">80</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_z6107OS1TaB2" title="Expected volatility">70</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Risk-free rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zYmQmsZsQAq4" title="Risk-free rate">3.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zBjfif07BsR8" title="Risk-free rate">3.6</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Contractual term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20241001__20250930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zgYcpAcQfNX9" title="Contractual term">6.2 years</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20231001__20240930__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EarnoutLiabilityMember_zVZkOtLr07Zg" title="Contractual term">7.2 years</td><td style="text-align: left"> </td></tr> </table> </div>

0.81

1.06

0.790

0.557

0.037

0.035

0.039

P4Y3M18D

P4Y10M24D

P1Y1M6D

P5Y1M6D

0.81

1.06

0.80

0.70

0.038

0.036

P6Y2M12D

P7Y2M12D

Note 18 — Net Loss Per Share The Company computes net loss per share of Class A and Class B Common Stock using the two-class method. Basic net loss per share is computed using the weighted-average number of shares outstanding during the period. Diluted net loss per share is computed using the weighted-average number of shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities consist of stock options, warrants, RSAs, RSUs and other contingently issuable shares. The dilutive effect of outstanding stock options, warrants, RSAs, RSUs and other contingently issuable shares is reflected in diluted earnings per share by application of the more dilutive of (a) the two-class method or (b) the if-converted method and treasury stock method, as applicable. The computation of the diluted net loss per share of Class A Common Stock assumes the conversion of Class B Common Stock, while the diluted net loss per share of Class B Common Stock does not assume the conversion of those shares. In periods where the Company has a net loss, most potentially dilutive securities are not included in the computation as their impact is anti-dilutive; those potentially dilutive securities whose impact is dilutive are included in the computation. In periods where their effect is dilutive, the PIPE make-whole liability and the liability-classified warrants are included in the computation of diluted loss per share as if the underlying shares had been issued as of the later of the beginning of the fiscal period or the date of issuance of those securities. Inclusion of those securities increases both the net loss for the period and the number of shares used in the per share computation and is dilutive to the Company’s net loss per share. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Schedule of Earnings Per Share Basic and Diluted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241001__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAOs9DQEEj91" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241001__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zY777R70Dkwl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231001__20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvScjnei9DZi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231001__20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z6pzD1dqyqR8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic net loss per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_pn3n3_zRl4zgoHFmoi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left; padding-left: 20pt">Allocation of net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(44,072</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(2,059</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(18,452</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(1,582</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--DeemedDividendFromWarrantPriceAdjustment_pn3n3_zlpHA7KjSWyc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Deemed dividend from warrant price adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(609</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(52</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iN_pn3n3_di_zD5pKZJXs6Wl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Net loss available to common stockholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(44,072</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,059</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(19,061</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,634</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_zCFnLuVJ2116" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 20pt">Weighted-average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43,435,887</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,029,216</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">26,175,279</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,244,314</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareBasic_pid_zI1VCGASd7pd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 30pt; padding-bottom: 2.5pt">Basic net loss per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.01</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.01</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.73</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.73</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Diluted net loss per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_iN_pn3n3_di_zfMyNe5Z2xJg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Net loss available to common stockholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(44,072</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,059</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(19,061</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,634</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--ChangeInFairValueOfLiability_pn3n3_zS49Jwu7Nov1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Change in fair value of PIPE make-whole liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(764</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(66</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--ChangeInFairValueOfLiabilityClassifiedWarrants_pn3n3_zlH5SmSh3N34" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Change in fair value of liability-classified warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(634</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(54</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ReallocationOfNetLossAsResultOfConversion_pn3n3_z7kjxVnwBVaf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Reallocation of net loss as a result of conversion of Class B to Class A Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,059</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,754</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ReallocationOfNetIncomeLoss_pn3n3_z4wBFR9UUvil" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Reallocation of net loss as a result of conversion of Class B to Class A Common Stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">63</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--NetIncomeLossToDiluted_pn3n3_zD7yCGJDTMrl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Allocation of net loss</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(46,131</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,059</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(22,213</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,691</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--NumberOfSharesUsedInBasicEarningsPerShare_pid_zXkI9RST5QK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Number of shares used in basic earnings per share calculation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,435,887</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,029,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,175,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,244,314</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--SharesIssuableInSatisfactionOfPipeMakeWholeLiability_pid_zEOW2qd7teLj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Shares issuable in satisfaction of PIPE make-whole liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">727,223</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--SharesIssuableUnderLiabilityClassifiedWarrants_pid_zaGm59UgRQfk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Shares issuable under liability-classified warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ConversionOfClassBToClassCommonStock_pid_zzB7j0evFLuh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Conversion of Class B to Class A Common Stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,029,216</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,244,314</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_zdTZ6r9qgmt2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 20pt">Number of shares used in per share computation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45,465,103</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,029,216</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29,483,021</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,244,314</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EarningsPerShareDiluted_pid_zh5y8XR0odej" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 30pt; padding-bottom: 2.5pt">Diluted net loss per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.01</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.01</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.75</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.75</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> For the purposes of applying the if converted method or treasury stock method for calculating diluted earnings per share, the Public Warrants, Private Warrants, PIPE Common Warrants, Placement Agent Warrants, RSAs, RSUs and stock options result in anti-dilution. Therefore, these securities are not included in the computation of diluted net loss per share. The Earnout Shares and shares issuable under the Rage Earnout were not included for purposes of calculating the number of diluted shares outstanding because the number of dilutive shares is, in each case, based on a contingency which had not been met during the periods presented herein. The potential shares of Class A Common Stock that were excluded from the computation of diluted net loss per share for the periods presented because including them would have an antidilutive effect were as follows: MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts) Schedule of Antidilutive Shares <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241001__20250930_z6sQ8WneIC73" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20231001__20240930_zDLtsr5JUZ4f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicAndPrivateWarrantsMember_zBhHhuGpGhbc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Public Warrants and Private Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">9,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">9,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OtherCommonStockWarrantsMember_zD796QtorCXi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other common stock warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,705,732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,518,780</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--EarnoutSharesMember_z7qGCPzBDFja" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Earnout Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,500,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RageEarnoutMember_zywt6HjGYXV4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares potentially issuable under Rage Earnout</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">642,809</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,285,618</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_z0c9uHmjyphb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>RSAs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,872,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zK5OhqTDQWch" style="vertical-align: bottom; background-color: White"> <td>RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,546,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,463,253</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zM1Cd0PUqRxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Stock options</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,452,324</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,740,846</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_z5Fya7hV95w6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">45,719,373</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">28,508,497</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Schedule of Earnings Per Share Basic and Diluted <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20241001__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zAOs9DQEEj91" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20241001__20250930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_zY777R70Dkwl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20231001__20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zvScjnei9DZi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20231001__20240930__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassBMember_z6pzD1dqyqR8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class A</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Class B</td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Basic net loss per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--NetIncomeLoss_pn3n3_zRl4zgoHFmoi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left; padding-left: 20pt">Allocation of net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(44,072</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(2,059</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(18,452</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(1,582</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40A_ecustom--DeemedDividendFromWarrantPriceAdjustment_pn3n3_zlpHA7KjSWyc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Deemed dividend from warrant price adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(609</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(52</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_iN_pn3n3_di_zD5pKZJXs6Wl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Net loss available to common stockholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(44,072</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,059</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(19,061</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,634</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_zCFnLuVJ2116" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 20pt">Weighted-average shares outstanding</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43,435,887</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,029,216</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">26,175,279</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,244,314</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--EarningsPerShareBasic_pid_zI1VCGASd7pd" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 30pt; padding-bottom: 2.5pt">Basic net loss per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.01</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.01</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.73</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.73</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Diluted net loss per share:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--NetIncomeLossAvailableToCommonStockholdersDiluted_iN_pn3n3_di_zfMyNe5Z2xJg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Net loss available to common stockholders</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(44,072</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,059</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(19,061</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,634</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--ChangeInFairValueOfLiability_pn3n3_zS49Jwu7Nov1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Change in fair value of PIPE make-whole liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(764</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(66</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--ChangeInFairValueOfLiabilityClassifiedWarrants_pn3n3_zlH5SmSh3N34" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Change in fair value of liability-classified warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(634</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(54</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--ReallocationOfNetLossAsResultOfConversion_pn3n3_z7kjxVnwBVaf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Reallocation of net loss as a result of conversion of Class B to Class A Common Stock</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,059</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,754</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--ReallocationOfNetIncomeLoss_pn3n3_z4wBFR9UUvil" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Reallocation of net loss as a result of conversion of Class B to Class A Common Stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">63</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--NetIncomeLossToDiluted_pn3n3_zD7yCGJDTMrl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Allocation of net loss</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(46,131</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(2,059</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(22,213</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(1,691</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--NumberOfSharesUsedInBasicEarningsPerShare_pid_zXkI9RST5QK2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Number of shares used in basic earnings per share calculation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,435,887</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,029,216</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,175,279</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,244,314</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--SharesIssuableInSatisfactionOfPipeMakeWholeLiability_pid_zEOW2qd7teLj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 20pt">Shares issuable in satisfaction of PIPE make-whole liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">727,223</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--SharesIssuableUnderLiabilityClassifiedWarrants_pid_zaGm59UgRQfk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 20pt">Shares issuable under liability-classified warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">336,205</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--ConversionOfClassBToClassCommonStock_pid_zzB7j0evFLuh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 20pt">Conversion of Class B to Class A Common Stock</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,029,216</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,244,314</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_zdTZ6r9qgmt2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 20pt">Number of shares used in per share computation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">45,465,103</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,029,216</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29,483,021</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,244,314</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--EarningsPerShareDiluted_pid_zh5y8XR0odej" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 30pt; padding-bottom: 2.5pt">Diluted net loss per share</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.01</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(1.01</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.75</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.75</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-44072000

-2059000

-18452000

-1582000

-609000 -52000

44072000

2059000

19061000

1634000

43435887

2029216

26175279

2244314

-1.01

-0.73

44072000

2059000

19061000

1634000

-764000 -66000 -634000 -54000 -2059000 -1754000 63000 -46131000 -2059000 -22213000 -1691000 43435887 2029216 26175279 2244314 727223 336205 2029216 2244314

45465103

2029216

29483021

2244314

-1.01

-0.75

Schedule of Antidilutive Shares <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20241001__20250930_z6sQ8WneIC73" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20231001__20240930_zDLtsr5JUZ4f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--PublicAndPrivateWarrantsMember_zBhHhuGpGhbc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Public Warrants and Private Warrants</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">9,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">9,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OtherCommonStockWarrantsMember_zD796QtorCXi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other common stock warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,705,732</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,518,780</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--EarnoutSharesMember_z7qGCPzBDFja" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Earnout Shares</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,500,000</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--RageEarnoutMember_zywt6HjGYXV4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares potentially issuable under Rage Earnout</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">642,809</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,285,618</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_z0c9uHmjyphb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>RSAs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,872,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zK5OhqTDQWch" style="vertical-align: bottom; background-color: White"> <td>RSUs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,546,008</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,463,253</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--EmployeeStockOptionMember_zM1Cd0PUqRxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Stock options</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,452,324</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,740,846</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_z5Fya7hV95w6" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">45,719,373</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">28,508,497</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9000000

15705732

7518780

3500000

642809

1285618

4872500

9546008

4463253

2452324

2740846

45719373

28508497

Note 19 — Concentrations Significant Customers For the year ended September 30, 2025, one customer accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20241001__20250930__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zvnMY4JLyZPf" title="Concentration risk, percentage">50% of the Company’s net revenue. For the year ended September 30, 2024, one customer accounted for <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231001__20240930__srt--MajorCustomersAxis__custom--OneCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zHWAG5Ub6UW5" title="Concentration risk, percentage">40% of the Company’s net revenue. No other customer accounted for more than <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20241001__20250930__srt--MajorCustomersAxis__custom--NoOtherCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zzhL3Veh1eMh" title="Concentration risk, percentage">10% of net revenue in the respective periods. As of September 30, 2025, two customers had balances due that represented <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20241001__20250930__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zFjKb3pz8Uq6" title="Concentration risk, percentage">30% of the Company’s total accounts receivable. As of September 30, 2024, two customers had balances due that represented <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20231001__20240930__srt--MajorCustomersAxis__custom--TwoCustomersMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zNekmJmsGxFl" title="Concentration risk, percentage">71% of the Company’s total accounts receivable.

0.50

0.40

0.10

0.30

0.71

Note 20 — Segment Information The Company operates as a single operating segment. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. All significant operating decisions are based upon analysis of the Company as one operating segment to allocate resources, make operating decisions, and evaluate financial performance. The CODM considers consolidated net income (loss) to be the measure of segment profit and loss for monitoring budget versus actual results, performing variance analysis, and forecasting future performance. The CODM considers the impact of significant segment expenses on net income, which are the same expenses presented on the consolidated statements of operations and comprehensive loss when making operating decisions. The measure of segment assets is reported on the consolidated balance sheets as total assets. The CODM does not review segment assets at a level other than that presented in the Company’s consolidated balance sheets. Revenues by Geographic Region The Company’s net revenue by geographic region, based on ship-to location, are summarized as follows: Schedule of Company’s Net Revenue by Geographic Region <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241001__20250930_zrkuI9jbAEx3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20231001__20240930_zDP1RYENDDJ7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__country--US_zDJ2mR2fWFFh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">9,152</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,699</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__country--CN_zXwM0wUk4Rge" style="vertical-align: bottom; background-color: White"> <td>China</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">288</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__custom--OtherMember_z4x7aKJiNLDg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">760</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">455</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_zVeyCDfRPkU9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total net revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,912</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,442</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Long-Lived Assets Substantially all of the Company’s long-lived assets are located in the United States. MOBIX LABS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued) (in thousands, except share and per share amounts)

The Company’s net revenue by geographic region, based on ship-to location, are summarized as follows: Schedule of Company’s Net Revenue by Geographic Region <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20241001__20250930_zrkuI9jbAEx3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20231001__20240930_zDP1RYENDDJ7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__country--US_zDJ2mR2fWFFh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">United States</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">9,152</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">5,699</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__country--CN_zXwM0wUk4Rge" style="vertical-align: bottom; background-color: White"> <td>China</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">288</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__custom--OtherMember_z4x7aKJiNLDg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">760</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">455</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerIncludingAssessedTax_pn3n3_zVeyCDfRPkU9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total net revenue</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,912</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,442</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9152000

5699000

288000

760000

455000

9912000

6442000

Note 21 — Subsequent Events At the Market Offering Agreement On October 21, 2025, the Company entered into an At The Market Offering Agreement (the “ATM Agreement”) with Roth Capital Partners, LLC (“Manager”) under which the Company may offer and sell, from time to time at its sole discretion, up to $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn3n3_c20251021__20251021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ztq0GufjUsj9" title="Issuance of shares">15,800 in shares of its Class A Common Stock through the Manager acting in its capacity as its sales agent. Pursuant to the ATM Agreement, sales of the Common Stock, if any, will be made under the Company’s effective Registration Statement on Form S-3 (File No. 333-284351), previously filed with the Securities and Exchange Commission on January 17, 2025 and declared effective on January 24, 2025, and the prospectus supplement relating to this offering for up to $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn3n3_c20251021__20251021__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zkVfk37ZeKSk" title="Issuance of shares">15,800 in shares of its Common Stock, filed on October 21, 2025 by any method that is deemed to be an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including privately negotiated and block transactions. The Manager will use commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal law, rules and regulations and the rules of The Nasdaq Capital Market to sell the Common Stock from time to time, based upon instructions from the Company (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company will pay the Manager a commission of three percent of the gross sales proceeds of any Common Stock sold through the Manager under the ATM Agreement, and also has provided the Manager with customary indemnification rights. The Company also reimbursed the Manager for certain expenses in connection with entering into the ATM Agreement. The Company intends to use the net proceeds from the offering for working capital purposes. The amount and timing of the proceeds the Company receives from the sale of its Class A Common Stock pursuant to the ATM Agreement, if any, will depend on a number of factors, including the numbers of shares the Company may elect to sell, the timing of such sales and the future market price of the Company’s Class A Common stock. Modification of Warrants On October 24, 2025, the Company entered into amendments to the PIPE Common Warrants, the Common Warrants and the Inducement Warrants, which comprise warrants to purchase an aggregate of 13,375,490 shares of the Company’s Class A Common Stock. The amendments revise certain terms of the warrants with the objective that, under the applicable guidance in ASC 480 and ASC 815, the warrants are expected to be equity-classified financial instruments. The amendments did not affect any terms of the warrants that are inputs into the estimation of the fair value of warrants under the Black-Scholes option pricing model, which the Company uses to estimate the fair value of warrants. As part of these amendments, the Company issued the warrant holder an additional warrant to purchase <span id="xdx_907_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20251024__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zXVDEHOvt0Jl" title="Warrant issued">1,000,000 shares of Class A Common Stock on the same terms as the Inducement Warrant, including an exercise price of $<span id="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20251024__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zGBy3BmAazJl" title="Warrant exercise price">1.08 per share. Settlement of Liabilities In October 2025, the Company executed exchange agreements with two vendors, pursuant to which the Company issued <span id="xdx_90D_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20251001__20251031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zHEzzyzfz6p8" title="Issuance of shares">477,954 shares of its Class A Common Stock in exchange for the cancellation of $<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn3n3_c20251001__20251031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zsxDb9422Cyc" title="Issuance of shares, value">405 of obligations. Also in October 2025, the Company executed an exchange agreement with the holder of a note payable, pursuant to which the Company issued <span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_pid_c20251001__20251031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zMybYC19NPQa" title="Issuance of shares">687,894 shares of its Class A Common Stock in exchange for the cancellation of the note payable and accrued interest of $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueConversionOfConvertibleSecurities_pn3n3_c20251001__20251031__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--ShortTermDebtTypeAxis__us-gaap--ConvertibleNotesPayableMember_zw18vPJqkhs2" title="Accrued interest">511. Borrowings In November 2025, the Company amended a note payable with an unaffiliated investor to increase the borrowings thereunder, for net proceeds of $112. Amounts owed under this note are payable in weekly installments through May, 2027. In November and December 2025, the Company entered into two amended agreements for the sale of future receipts, wherein the Company sold future receipts totaling $1,966 for net proceeds of $806. Amounts owed under these agreements are payable in weekly installments through July, 2026. In December 2025, the Company issued a $1,100 promissory note for net proceeds of $<span id="xdx_904_eus-gaap--ProceedsFromNotesPayable_pn3n3_c20251201__20251231__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zuzozPRLPJDd" title="Proceeds from the issuance of notes payable">800. The $1,100 principal amount of the promissory note will be payable, without interest, in June 2027. Issuance of Class A Common Stock On January 6, 2026, the Company entered into certain securities purchase agreements with unrelated investors relating to a public offering of <span id="xdx_902_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20260106__20260106__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z42NZn3NyW0b" title="Public offering shares">30,000,000 shares of its Class A Common Stock at a price to the public of $<span id="xdx_90B_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20260106__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zgUruHtfaSp" title="Public offering shares">0.20 per share (the “Offering”). In connection with the Offering, the Company entered into a placement agency agreement, pursuant to which the Company agreed to pay the placement agent a cash placement fee equal to 8.0% of the aggregate gross proceeds raised in the Offering. Subject to certain conditions, the Company also agreed to reimburse the placement agent up to 1.0% of the gross proceeds raised in the Offering for non-accountable expenses and up to $<span id="xdx_90A_eus-gaap--LegalFees_pn3n3_c20260106__20260106__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember__srt--RangeAxis__srt--MaximumMember_zwfokB5WF0i3" title="Fees and expenses of legal">100 for fees and expenses of legal counsel and other out-of-pocket expenses. The Company also agreed to indemnify the placement agent against certain liabilities, including liabilities under the Securities Act of 1933, as amended, or to contribute to payments that the placement agent may be required to make in respect of those liabilities. The net proceeds to the Company from the Offering were approximately $<span id="xdx_905_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn3n3_c20260106__20260106__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementsMember_zpCPUIHJns8i" title="Net proceeds from offering">5,135, after deducting placement agent fees and commissions and other estimated offering expenses payable by the Company.

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