A bit more
$Mobilicom (MOB.US)$ Mobilicom Reports Financial Results for the Six Months Ended June 30, 2024; Revenues Up 232%
Strong cash position and growing revenues driven by initial production scale orders from U.S. and Israeli Tier-1 customers as gross margins and OPEX remain consistent, demonstrating business model scalability
SHOHAM, Israel, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW), a provider of cybersecurity and robust solutions for drones and robotics, today announced its financial results and operational highlights for the six months ended June 30, 2024.
Financial Highlights for the Six Months Ended June 30, 2024
● Revenues increased 232% year-over-year to $1.8 million driven by initial production scale orders from U.S. and Israeli Tier-1 customers
● OPEX remained steady, while H1 2024 revenue surged by approximately 3.3 times, pointing to the Company’s ability to ramp sales without increasing operational costs
● Operating net burn rate for the six months ended June 30, 2024 was $1.1 million averaging approximately $180,000 per month
● Strong cash position of $10 million with narrowing monthly burn rate affords Mobilicom a long cash runway to implement its strategic plans, capture market share, and further ramp revenues
● EBITDA improved by 37% to $(1.5) million compared to $(2.4) for the first six months of 2023
● Gross margin remained high at 56%, reflecting strong high-end IP based technology and effective components costs-reduction planning
● Confirmed order backlog as of June 30, 2024 was $700,000 and it is expected be fulfilled in the second half of 2024; Backlog increased substantially following the end of H1
Strong cash position and growing revenues driven by initial production scale orders from U.S. and Israeli Tier-1 customers as gross margins and OPEX remain consistent, demonstrating business model scalability
SHOHAM, Israel, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW), a provider of cybersecurity and robust solutions for drones and robotics, today announced its financial results and operational highlights for the six months ended June 30, 2024.
Financial Highlights for the Six Months Ended June 30, 2024
● Revenues increased 232% year-over-year to $1.8 million driven by initial production scale orders from U.S. and Israeli Tier-1 customers
● OPEX remained steady, while H1 2024 revenue surged by approximately 3.3 times, pointing to the Company’s ability to ramp sales without increasing operational costs
● Operating net burn rate for the six months ended June 30, 2024 was $1.1 million averaging approximately $180,000 per month
● Strong cash position of $10 million with narrowing monthly burn rate affords Mobilicom a long cash runway to implement its strategic plans, capture market share, and further ramp revenues
● EBITDA improved by 37% to $(1.5) million compared to $(2.4) for the first six months of 2023
● Gross margin remained high at 56%, reflecting strong high-end IP based technology and effective components costs-reduction planning
● Confirmed order backlog as of June 30, 2024 was $700,000 and it is expected be fulfilled in the second half of 2024; Backlog increased substantially following the end of H1
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
