$1.7 Million First-Half Revenue, Up 19% Year Over Year
$1.2 Million Second-Quarter Revenue as U.S. DoW POR Deliveries Moved to a Monthly Cadence
New Products Launch Followed by Design Wins and Initial Orders for MultiBand & Tactical Expanding SkyHopper Secure Datalink Product Family
PALO ALTO, Calif., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW) ("Mobilicom" or the "Company"), a provider of cybersecurity and robust solutions for drones and robotics, today announced financial results for the six months ended June 30, 2026, as well as recent business and operational highlights. The Company's management will host a webcast at 4:30 p.m. ET today. Details of the webcast are provided below.
"The first half of 2026 marked an inflection in our transition from design wins to production revenue," said Oren Elkayam, CEO and Co-Founder of Mobilicom. "Revenue increase driven principally by our Tier-1 customer's U.S. DoW Program of Record, where we have moved from initial deployment orders into a monthly delivery cadence. That is the difference between episodic purchase orders and being embedded in a qualified production line."
"Two forces are working in our favor. Western forces are institutionalizing small drones and loitering munitions as standard and repeat-purchase equipment, while our platform-agnostic position lets us participate without betting on any single platform. Meanwhile regulation has become a competitive advantage: our cybersecurity, hardware and software solutions now fall within the FCC's definition of a UAS critical component, and Trusted status is granted only to companies with DoW certifications and a clear and retained U.S. onshoring plan, which is what our U.S. manufacturing build-out aims to deliver. That is a meaningful barrier to entry for new players, and it makes us a design-in-ready alternative just as platform manufacturers re-source."
Elkayam concluded, "We also broadened our footprint beyond the U.S., with design wins for a next-generation loitering munition platform with a Tier-1 Israeli manufacturer, and AI-enabled autonomous weapon system and -- both pairing our newly launched SkyHopper MultiBand and Tactical hardware with our ICE and OS3 software, raising our content per platform. The foundations we put in place this half -- a production delivery cadence, a U.S. manufacturing build-out, a widening base of design wins, and a debt-free balance sheet company with $15.9 million in cash (adjusted) -- are the platform for our next phase of scale."
Recent Operational & Strategic Highlights
-- Secured design win and initial order with Tier-1 Israeli defense customer
for new loitering munitions platform, expanding into a new platform with
a path toward future mass production and global deployment. The win
incorporates the newly launched SkyHopper MultiBand and Tactical together
with ICE electronic warfare resistance software.
-- Secured design win for AI-enabled autonomous weapon systems with an
Israeli defense technology company, covering four Mobilicom products --
ICE and OS3 software, SkyHopper Multiband datalink and 10-inch Mobile
Ground Control Stations -- selected under a single design win, reflecting
a significantly higher value proposition per platform and demonstrating
Mobilicom's ability to deliver integrated, end-to-end solutions.
-- Tier-1 partner has progressed within the U.S. Army's Low Altitude
Stalking and Strike Ordnance (LASSO) program, embedding our technology
and reinforcing Mobilicom's position within next-generation U.S. defense
drone platforms and supporting potential long-term demand.
-- Announced $2.2 million in new orders tied to the OPF-L Program with a
large U.S.-based manufacturer of small-sized drones for loitering
munitions platforms. Deliveries are proceeding at a monthly cadence.
-- Announced new design wins with two leading U.S. Tier-1 defense drone
manufacturers for small-sized Intelligence, Surveillance and
Reconnaissance ("ISR") drone platforms incorporating tailored,
cybersecure SkyHopper datalink solutions and ICE electronic warfare
resistance & cybersecurity suite.
-- Launched SkyHopper MultiBand and SkyHopper Tactical, each developed to
address the direct requirements of defense forces in contested and
GPS-denied environments, expanding the secure communications hardware
portfolio. Both products generated design wins and initial orders within
the same half -- the fastest launch-to-design-win conversion the Company
has achieved.
-- Mobilicom's full suite of drone and robotics solutions was included in
the FCC's first batch of Trusted Drones, as determined by the U.S. DoW,
making Mobilicom one of only four companies granted exemption status and
highlighting its compliance with stringent U.S. security standards.The
Company's onshoring plan, approved under the FCC's Conditional Approval
process, remains on track, supported by its U.S. manufacturing build-out.
Financial Highlights for the Six Months Ended June 30, 2026
-- Second quarter revenue of $1.2 million brought first half revenue to $1.7
million, up 19% over the first half of 2025 ($1.5 million). Revenue
driven by production and delivery against Tier-1 scaled deployments under
the U.S. Department of War Program of Record.
-- Confirmed order backlog was $1.0 million as of June 30, 2026, compared to
$1.6 million as of June 30, 2025, in addition to new orders expected to
be received and fulfilled in the second half of 2026.
-- Gross margin was 52%, reflecting support for higher-volume production
orders while continuing to capture the value of its IP-based technology.
-- Operating cash burn averaged $859,000 per month during the first half of
2026, or $591,000 per month on an as adjusted basis excluding $1.61
million of vested RSU and options-related tax payments outside the
ordinary course of operating activities, reflecting a shift toward
funding operational readiness and growth initiatives.
-- Cash and cash equivalents totaled $15.2 million as of June 30, 2026, or
$15.9 million on an as adjusted basis after giving effect to the
reimbursement of an options-related tax payment made on behalf of
grantees and received in July 2026, providing the Company with
substantial financial flexibility to support its growth initiatives.
-- Clean, debt-free balance sheet with no loans, credit facilities, or
convertible debt.
-- Adjusted EBITDA for the first half of 2026 was $(2.9) million, compared
to $(1.9) million for the first half of 2025, consistent with the
adjusted cash burn.
Conference Call & Webcast Info:
Thursday, August 13, 2026, at 4:30 pm ET
US Dial-in:
1-877-451-6152 US Toll Free
1-201-389-0879 US Toll
Conference ID: 13761974
Please register in advance: HERE
A recording of the webcast will be available in the "EARNINGS UPDATE" section on ir.mobilicom.com for those unable to attend the live event.
About Mobilicom
Mobilicom is a leading provider of cybersecure robust solutions for the rapidly growing defense and commercial drones and robotics market. Mobilicom's large portfolio of field-proven technologies includes cybersecurity, software, hardware, and professional services that power, connect, guide, and secure drones and robotics. Through deployments across the globe with over 50 customers, including the world's largest drone manufacturers, Mobilicom's end-to-end solutions are used in mission-critical functions.
For investors, please use https://ir.mobilicom.com/
For company, please use www.mobilicom.com
Forward Looking Statements
This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. For example, the Company is using forward-looking statements when it discusses expected deliveries and fulfillment of orders, increasing production-scale demand, the potential for additional orders under programs of record, the development of relationships with Tier-1 defense partners, and the Company's ability to support growth initiatives and respond to evolving market opportunities. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Mobilicom Limited's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the Company's filings with the Securities and Exchange Commission.
Forward-looking statements contained in this announcement are made as of this date, and Mobilicom Limited undertakes no duty to update such information except as required under applicable law.
For more information on Mobilicom, please contact:
Chris Donovan
Head of IR
Chris.Donovan@mobilicom.com
Use of Non-IFRS Financial Information
In addition to disclosing financial results calculated in accordance with the International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board, this release also contains non-IFRS financial measures, which Mobilicom believes provide useful supplemental information regarding the operating and financial performance of its business.
Management believes the non-IFRS financial measures provided assist investors in understanding and assessing Mobilicom's operating performance and prospects for the future by providing additional information regarding the Company's results from period to period. Management uses these non-IFRS financial measures as and one factor in evaluating the Company's performance and making strategic and operational decisions. The presentation of these non-IFRS financial measures is not intended to be considered in isolation from, or as a substitute for, or superior to, operating loss and or net income (loss) or any other performance measures derived in accordance with IFRS or as an alternative to net cash flow from operating activities or any other measures of our cash flows or liquidity prepared in accordance with IFRS.
Adjusted EBITDA is a non-IFRS financial measure defined as net loss before financial income (expense), net, income taxes, depreciation and amortization, and share based compensation expenses. A reconciliation of Adjusted EBITDA to the most directly comparable IFRS financial measure is included below.
Mobilicom Limited
Unaudited Interim Condensed Consolidated Statements
of Profit or Loss and Other Comprehensive Income
For the six months For the six months
ended, June 30, ended, June 30,
2026 2025
$ $
Revenue $ 1,725,624 $ 1,450,561
Cost of sales 835,755 653,381
Gross margin 889,869 797,180
Operating Expenses
Selling and
marketing
expenses 2,706,753 903,353
Research and
development, net 3,815,327 1,274,687
General and
administration
expenses 2,787,075 1,150,596
Total operating
expenses 9,309,155 3,328,636
Operating loss (8,419,286) (2,531,456)
Financial income,
net 1,721,815 2,485,830
Loss before income
tax expenses $ (6,697,471) $ (45,626)
---- ------------------ -----------------
Tax income
(expenses) 5,000 (23,120)
Net loss $ (6,692,471) $ (68,746)
==== ================== =================
Loss per share -
basic and diluted (0.53) (*)
Weighted average
shares outstanding
- basic and
diluted 12,668,694 7,526,213
* Less than $0.01 cents
Mobilicom Limited
Reconciliation of Adjusted EBITDA to Net Loss
after income tax expenses
For the six months For the six months
ended, June 30, ended, June 30,
2026 2025
$ $
Loss after income
tax expense $ (6,692,471) $ (68,746)
Less: Financial
income, net (1,721,815) (2,485,830)
Depreciation and
amortizations 134,301 124,393
Share-based
compensation
expense 5,372,632 541,197
Income tax expenses
(benefit) (5,000) 23,120
---- ------------------- ----------------
Adjusted EBITDA $ (2,912,353) $ (1,865,866)
==== =================== ================
Mobilicom Limited
Unaudited Interim Condensed Consolidated
Statements of Financial Position
June 30, December 31,
2026 2025
$ $
Assets
Current assets
Cash and cash
equivalents $ 15,080,471 $ 19,003,784
Restricted cash 114,888 108,549
Trade and other
receivables, net 1,804,198 348,050
Inventories, net 1,036,322 740,045
----------------- ----------------
Total current assets 18,035,879 20,200,428
Non-current assets
Property, plant and
equipment, net 119,524 99,581
Right-of-use assets 419,715 435,497
----------------- ----------------
Total non-current
assets 539,239 535,078
Total assets $ 18,575,118 $ 20,735,506
================= ================
Liabilities
Current liabilities
Trade and other
payables $ 1,435,490 $ 2,159,596
Lease liabilities 239,888 212,851
----------------- ----------------
Total current
liabilities 1,675,378 2,372,447
Non-current
liabilities
Lease liabilities 187,156 224,297
Employee benefits 246,716 234,133
Financial liability 5,042,658 9,079,707
Governmental
liabilities on grants
received 1,567 1,424
----------------- ----------------
Total non-current
liabilities 5,478,097 9,539,561
Total liabilities 7,153,475 11,912,008
----------------- ----------------
Net assets $ 11,421,643 $ 8,823,498
----------------- ----------------
Equity
Issued capital 64,450,857 60,145,100
Reserves 7,779,609 2,794,750
Accumulated losses (60,808,823) (54,116,352)
Total equity $ 11,421,643 $ 8,823,498
================= ================
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