Micromobility.com reported Q2 2024 revenue of $787,000, down 77% from $3.5 million in Q2 2023, as the company strategically exited unprofitable markets. Net loss narrowed to $1.55 million from $34.2 million last year, primarily due to significant cost reductions across operations. The quarter saw mobility revenue decline 78% to $380,000 while media revenue dropped nearly 100% following early termination of LNPB agreements.The company continued implementing aggressive cost-cutting measures, with total operating expenses decreasing 93% to $2.5 million from $35.9 million year-over-year. General and administrative expenses fell 77% to $1.2 million, while sales and marketing costs dropped 66% to $311,000 as the company reduced marketing campaigns and workforce following market exits.Cash and cash equivalents stood at $162,000 as of June 30, 2024. The company plans to continue funding operations through debt and equity financing, though it noted substantial doubt about its ability to continue as a going concern. During Q2, Micromobility.com received $2.4 million in interest-free financing from CEO-controlled Palella Holdings LLC and converted $705,000 of debt into equity through share issuance.

Micromobility.com reported Q2 2024 revenue of $787,000, down 77% from $3.5 million in Q2 2023, as the company strategically exited unprofitable markets. Net loss narrowed to $1.55 million from $34.2 million last year, primarily due to significant cost reductions across operations. The quarter saw mobility revenue decline 78% to $380,000 while media revenue dropped nearly 100% following early termination of LNPB agreements.The company continued implementing aggressive cost-cutting measures, with total operating expenses decreasing 93% to $2.5 million from $35.9 million year-over-year. General and administrative expenses fell 77% to $1.2 million, while sales and marketing costs dropped 66% to $311,000 as the company reduced marketing campaigns and workforce following market exits.Cash and cash equivalents stood at $162,000 as of June 30, 2024. The company plans to continue funding operations through debt and equity financing, though it noted substantial doubt about its ability to continue as a going concern. During Q2, Micromobility.com received $2.4 million in interest-free financing from CEO-controlled Palella Holdings LLC and converted $705,000 of debt into equity through share issuance.