BUDD LAKE, NJ / ACCESS Newswire / October 7, 2025 / EMCORE LLC, a leading provider of advanced inertial sensors serving the aerospace and defense industries, today announced the launch of the TAC-DSP-1750 Fiber Optic Gyroscope (FOG). The new TAC-DSP-1750 marks the return of a proven industry favorite, the legacy DSP-1750, now re-engineered with EMCORE's state-of-the-art Photonic Integrated Chip (PIC) technology and modernized electronics for higher performance, improved reliability, and expanded application ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-36632 EMCORE Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation o ...

Financial Performance - Revenue for fiscal 1Q25 was $19.3 million, a decrease of $2.4 million from $21.7 million in 4Q24, representing an 11% decline [4]. - Gross margin increased to 32% in 1Q25, up from 21% in 4Q24, reflecting an 11% improvement [4]. - Non-GAAP net income from continuing operations was $0.5 million in 1Q25, a significant increase of $2.5 million compared to a loss of $2.0 million in 4Q24 [4]. - Adjusted EBITDA for 1Q25 was $1.1 million, an increase of $1.5 million from a negative $0.4 million in 4Q24 [4]. - The net loss on continuing operations was $5.5 million in 1Q25, compared to a loss of $3.2 million in 4Q24, indicating a worsening of $2.3 million [4]. - Cash, cash equivalents, and restricted cash at the end of the period totaled $9.0 million, down from $10.8 million at the end of 4Q24, a decrease of $1.8 million [4]. - Operating expenses rose to $9.7 million in 1Q25, an increase of $1.9 million from $7.8 million in 4Q24 [4]. - Non-GAAP gross margin improved to 36% in 1Q25, up from 23% in 4Q24, reflecting a 13% increase [4]. Future Outlook - The company reported a backlog that remains strong, indicating positive future revenue potential [3]. - The company is focused on leveraging its Photonic Integrated Chip (PIC) and Quartz MEMS technology for future product development and market expansion [5].

Company Transition and Restructuring - The company completed its transition from a broadband company to an inertial navigation company, having sold its cable TV, wireless, sensing, and defense optoelectronics business lines in October 2023[203]. - The restructuring initiatives resulted in the elimination of approximately 200 positions, representing about 50% of the total workforce prior to the reductions[215]. - Annualized cost savings from the May 2024 restructuring are estimated at approximately $17.0 million, excluding severance costs[216]. - The company incurred one-time employee severance costs of approximately $2.9 million during the fiscal year ended September 30, 2024[216]. - The company has consolidated its operations, resulting in a 35% reduction in the aggregate square footage occupied by its facilities[215]. - The company entered into a transition services agreement with HieFo to provide migration services for up to 12 months following the Chips Transaction[226]. - Restructuring expenses totaled approximately $2.2 million, including costs related to the Chief Restructuring Officer and impairments at the Alhambra Facility[252]. - Severance expenses amounted to approximately $2.9 million, largely due to a restructuring plan that included a 40% workforce reduction[253]. - Impairment charges for the fiscal year ended September 30, 2024, totaled approximately $3.0 million, primarily from the shutdown of the Alhambra Facility[254]. Financial Performance - For the fiscal year ended September 30, 2024, revenue decreased by $11.8 million or 12.1% to $85.9 million compared to $97.7 million in the prior fiscal year[244]. - Gross profit for the fiscal year ended September 30, 2024, decreased by $4.6 million or 19.5%, resulting in a gross margin decline from 23.9% to 21.9%[246]. - Selling, general, and administrative expenses decreased by $10.5 million or 31.9% to $22.3 million, primarily due to headcount reductions[248]. - Research and development expenses decreased by $5.0 million or 27.9% to $12.9 million, driven by headcount reductions and cost management[251]. - Other income for the fiscal year ended September 30, 2024, totaled approximately $3.6 million, mainly from adjustments related to the HieFo Sublease and a business settlement[260]. - For the fiscal year ended September 30, 2024, cash used in operating activities for continuing operations was $5.5 million, a decrease of 81.8% compared to $30.3 million in the previous year[266][269]. - Cash provided by investing activities for the fiscal year ended September 30, 2024, was $31 thousand, a significant decrease of 99.7% from $9.2 million in 2023[266][271]. - Financing activities used cash of $10.6 million for the fiscal year ended September 30, 2024, primarily due to repayment of credit facilities, compared to cash provided of $24.4 million in 2023[273]. Mergers and Acquisitions - The company expects the merger to close during the quarter ending March 31, 2025, with shareholders set to receive $3.10 per share in cash[209][211]. - The merger agreement is subject to customary closing conditions, including shareholder approval and the absence of any material adverse effects[210]. - The company entered into a Merger Agreement on November 7, 2024, as part of its strategy to focus on the Inertial Navigation business[261]. - The company entered into a Merger Agreement on November 7, 2024, to address capitalization and liquidity issues[265]. Asset Management and Liabilities - The company has a credit facility with a reduced borrowing capacity of $4.6 million under the Forbearance Agreement, down from $40.0 million[219]. - The company prepaid approximately $9.4 million to fully repay amounts outstanding under the Credit Agreement, including $8.5 million of principal and $0.8 million of accrued interest[222][223]. - As of September 30, 2024, total contractual obligations and commitments amount to $55.2 million, including purchase obligations of $12.5 million and operating lease obligations of $35.0 million[273][275]. - The company has known conditional Asset Retirement Obligations (ARO) totaling $2.4 million as of September 30, 2024[276]. - The company has a right to force the Successor Agent to exercise the warrant under certain conditions, and the total shares issuable under the warrant is limited to 19.99% of outstanding shares[221]. - The company provided a guaranty of up to approximately $5.5 million related to long-term liabilities in the PF Transaction, with $4.2 million not expected to be payable until January 2026[228]. Market Conditions and Future Outlook - The company has faced increased instability in global economic conditions, which may lead to longer sales cycles and increased manufacturing costs[229]. - The company has substantial doubt about its ability to continue as a going concern, which could significantly impact stock price and shareholder value[264]. - The company anticipates that operating activities for the fiscal year ending September 30, 2025, may provide approximately $1.0 million to $2.5 million[270]. - The company expects investing activities to use cash of $1.3 million for the fiscal year ending September 30, 2025[272]. Stock and Shareholder Information - A reverse stock split was approved at a ratio of 10:1, effective April 1, 2024, impacting the outstanding shares of common stock[217]. - The company issued a warrant to purchase 1,810,528 shares of common stock at an exercise price of $2.73 per share, exercisable for 10 years[220]. - The company closed an offering of 2,260,000 shares at $5.00 per share in August 2023, resulting in net proceeds of approximately $15.6 million[267].

Core Viewpoint - Rowley Law PLLC is investigating potential securities law violations by EMCORE Corporation and its board regarding the proposed acquisition by Velocity One, where stockholders will receive $3.10 per share [1]. Group 1 - EMCORE Corporation is set to be acquired by Velocity One, with the transaction expected to close in the first quarter of 2025 [1]. - Stockholders of EMCORE will receive $3.10 for each share they hold in the company as part of the acquisition deal [1]. Group 2 - Rowley Law PLLC is representing shareholders in this investigation and offers additional information through their website and contact details [2]. - The firm specializes in class actions and derivative lawsuits in complex corporate litigation, indicating a focus on protecting shareholder interests [3].

Group 1 - Halper Sadeh LLC is investigating EMCORE Corporation for potential violations related to its sale to Velocity One at $3.10 per share in cash [1] - The firm is also looking into AlloVir, Inc.'s merger with Kalaris Therapeutics, seeking increased consideration for shareholders and additional disclosures [2] - Shareholders are encouraged to contact Halper Sadeh LLC to discuss their legal rights and options, with the firm representing investors globally [3]

Group 1 - Monteverde & Associates PC is investigating EMCORE Corporation regarding its proposed merger with Velocity One Holdings, LP, where EMCORE stockholders will receive $3.10 per share of common stock [1] - Monteverde & Associates PC has been recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report, indicating a strong track record in recovering money for shareholders [1] - The firm operates from the Empire State Building in New York City and has a successful history in trial and appellate courts, including the U.S. Supreme Court [2][3] Group 2 - EMCORE Corporation is currently involved in a merger agreement that may impact its stockholders financially [1] - The firm encourages shareholders with concerns to reach out for additional information, emphasizing that no company or officer is above the law [3]

BUDD LAKE, NJ, Oct. 01, 2024 (GLOBE NEWSWIRE) -- EMCORE Corporation (Nasdaq: EMKR) ("Emcore" or the "Company), the world's largest independent provider of inertial navigation solutions to the aerospace and defense industry, today confirmed that it has received an unsolicited, non-binding proposal from Mobix Labs, Inc. ("Mobix") to acquire all of the Company's outstanding shares for $3.80 per share in cash. The Company's Board of Directors continues to evaluate a range of strategic and financial options to e ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number: 001-36632 EMCORE Corporation (Exact name of registrant as specified in its charter) New Jersey 22-2746503 (State or other jurisdiction ...

Financial Data and Key Metrics Changes - Revenue for fiscal Q3 was $20.4 million, a 4% increase compared to $19.6 million in fiscal Q2 [12] - Gross margin improved to 24% in Q3 from 15% in the previous quarter, attributed to better production yields and cost reductions [13] - Operating loss decreased by $2.6 million compared to the previous quarter, with negative adjusted EBITDA reduced to $3.6 million from $5.8 million [13] Business Line Data and Key Metrics Changes - The Concord-based QMEMS product line achieved record quarterly revenue, contributing to the overall revenue increase [12] - The company reported a book-to-bill ratio of 1.24, indicating strong order intake relative to revenue [12][8] Market Data and Key Metrics Changes - Current backlog increased by over $60 million, with a strong sales funnel of diverse domestic and international opportunities [8] - The European portfolio showed continued growth, contributing positively to the overall business performance [8] Company Strategy and Development Direction - The company is focused on achieving operational efficiencies and overlaying common operating systems across its remaining production sites [8] - The restructuring plan aims for operating cash flow breakeven by September 30, excluding restructuring costs [6][10] - The engagement of FTI Consulting as Chief Restructuring Officer is intended to enhance cash management and support restructuring efforts [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow breakeven, contingent on effective execution of the P&L and working capital management [16][18] - The geopolitical situation is seen as a positive factor for bookings, particularly in relation to defense contracts [32] Other Important Information - The company completed personnel reductions of approximately 120 employees, resulting in annualized savings of about $17 million [10] - All outstanding obligations under the credit agreement with Hale Capital were paid off, allowing for exploration of new credit facilities [9] Q&A Session Summary Question: Concerns about achieving cash flow breakeven - Management indicated that achieving breakeven depends on executing the P&L and managing working capital effectively [16][18] Question: Cash burn and position at the end of the quarter - Management acknowledged that restructuring costs will peak in the September quarter, impacting cash usage [19][20] Question: Breakeven model and operating expenses - Management expects non-GAAP operating expenses to be under $8 million in the September quarter, requiring approximately $6.7 million in gross profit to achieve breakeven [25][26] Question: Details on strong bookings and armored vehicle programs - Management highlighted significant bookings from U.S. Army contracts and opportunities related to the conflict in Ukraine [28] Question: Sustainability of bookings and market conditions - Management noted that the pipeline is strong, with demand driven by geopolitical factors and the efforts of the sales team [30][32] Question: Backlog mix and long-term gross margin potential - Management confirmed that the backlog mix has improved, particularly at the Concord facility, which is crucial for achieving financial outcomes [34][35]