WUXI, China, Sept. 18, 2026 (GLOBE NEWSWIRE) -- LOBO TECHNOLOGIES LTD. (Nasdaq: LOBO) ("LOBO" or the "Company"), an innovative electric mobility vehicles manufacturer and seller, today announced its unaudited financial results for the first half of fiscal year 2026 ended June 30, 2026.
Mr. Huajian Xu, Chief Executive Officer of LOBO, commented, "We delivered encouraging progress in the first half of 2026, with total revenues increasing 20.6% year over year. Our core electric vehicles and accessories business remained resilient, generating 8.2% revenue growth, while our newly launched AI infrastructure services business contributed approximately $1.5 million in revenue and began to broaden our revenue base.
"At the same time, we continued to sharpen our cost structure and improve operating efficiency, with total operating expenses decreasing 17.9% year over year and our net loss narrowing meaningfully compared with the prior-year period. These results reflect our focus on balancing growth investment with greater financial discipline.
"Looking ahead, we will continue to strengthen our core electric mobility business while selectively pursuing technology-driven opportunities that complement our capabilities and expand our growth potential. We remain focused on disciplined execution, efficient capital allocation and building sustainable long-term value for our shareholders."
First Half of Fiscal Year 2026 Financial Summary
-- Revenues were $14.6 million for the first half of fiscal year 2026, an
increase of 20.6% from $12.1 million for the same period of last year.
-- Gross profit was $1.9 million for the first half of fiscal year 2026,
relatively stable compared to $1.9 million for the same period of last
year.
-- Gross profit margin was 13.2% for the first half of fiscal year 2026,
compared to 16.1% for the same period of last year.
-- Net loss was $1.1 million for the first half of fiscal year 2026,
compared to $2.6 million for the same period of last year.
-- Basic and diluted loss per share were $0.07 for the first half of fiscal
year 2026, compared to $0.28 for the same period of last year.
First Half of Fiscal Year 2026 Financial Results
Revenues
Revenues were $14.6 million for the first half of fiscal year 2026, an increase of 20.6% from $12.1 million for the same period of last year. Revenues from electric vehicles and accessories sales increased by 8.2%, to $13.1 million for the first half of fiscal year 2026, from $12.1 million for the same period of last year, and the Company generated $1.5 million of revenues from its new AI infrastructure services business.
-- Revenue from two-wheeled e-bicycles was $8.1 million for the first half
of fiscal year 2026, an increase of 21.71% from $6.7 million for the same
period of last year.
-- Revenue from two-wheeled e-mopeds was nil for the first half of fiscal
year 2026, compared to $36,778 for the same period of last year.
-- Revenue from three-wheeled electric vehicles was $2.2 million for the
first half of fiscal year 2026, a decrease of 29.22% from $3.1 million
for the same period of last year.
-- Revenue from four-wheeled electric off-highway shuttles was $0.9 million
for the first half of fiscal year 2026, an increase of 143.51% from $0.4
million for the same period of last year.
-- Revenue from batteries was $0.9 million for the first half of fiscal year
2026, a decrease of 46.75% from $1.7 million for the same period of last
year.
-- Revenue from parts and accessories was $1.0 million for the first half of
fiscal year 2026, an increase of 345.36% from $0.2 million for the same
period of last year.
Cost of Revenues
Cost of revenue was $12.7 million for the first half of fiscal year 2026, an increase of 24.8% from $10.1 million for the same period of last year. The increase primarily due to the growth in electric vehicles and accessories sales and the addition of $1.3 million of cost of revenues associated with the Company's new AI infrastructure services business.
Gross Profit
Gross profit was $1.9 million for the first half of fiscal year 2026, relatively stable compared to $1.9 million for the same period of last year. Gross profit margin was 13.2% for the first half of fiscal year 2026, compared to 16.1% for the same period of last year.
Operating Expenses
Total operating expenses were $2.5 million for the first half of fiscal year 2026, a decrease of 17.9% from $3.1 million for the same period of last year.
-- Selling and marketing expenses were $0.4 million for the first half of
fiscal year 2026, an increase from $0.3 million for the same period of
last year, primarily due to higher salary expenses and freight costs
associated with higher sales volume.
-- General and administrative expenses were $0.8 million for the first half
of fiscal year 2026, decreased from $1.7 million for the same period of
last year. The general and administrative expenses decrease primarily due
to lower professional service fees incurred in the six months ended June
30, 2026.
-- Research and development expenses were $1.3 million for the first half of
fiscal year 2026, an increase from $1.1 million for the same period of
last year, primarily due to the Company's continued investment in
developing its platform related AI infrastructure.
Net Loss
Net loss was $1.1 million for the first half of fiscal year 2026, compared to $2.6 million for the same period of last year.
Basic and Diluted Loss per Share
Basic and diluted loss per share were $0.07 for the first half of fiscal year 2026, compared to $0.28 for the same period of last year.
Financial Condition
As of June 30, 2026, the Company had cash and cash equivalents of $1.0 million, compared to $0.9 million as of December 31, 2025.
Net cash used in operating activities was $3.7 million for the first half of fiscal year 2026, compared to $1.2 million for the same period of last year.
Net cash used in investing activities was $0.6 million for the first half of fiscal year 2026, compared to net cash provided by investing activities of $0.1 million for the same period of last year.
Net cash provided by financing activities was $4.3 million for the first half of fiscal year 2026, compared to $0.6 million for the same period of last year.
About LOBO TECHNOLOGIES LTD.
LOBO TECHNOLOGIES LTD. (NASDAQ: LOBO) is a manufacturer of electric mobility products. Its product portfolio includes electric bicycles, electric motorcycles, electric tricycles, electric off-road vehicles (such as golf carts and mobility scooters) as well as solar-powered vehicles.
LOBO is committed to promoting sustainable transportation through advanced technologies, with the goal of reducing carbon emissions and improving energy efficiency.
For more information about the Company, please visit: www.loboebike.com.
For more information about the Company's Claw AI Agent platform and LoboToken.ai platform, please visit:
Claw AI Agent platform: www.loboaiclaw.com;
LoboToken.ai: www.lobotoken.ai.
Forward-Looking Statements
This announcement contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this announcement. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report for the fiscal year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (the "SEC") on April 28, 2026, and other filings with the SEC.
For more information, please contact:
LOBO TECHNOLOGIES LTD.
Zane Xu
Investor Relations Manager
Email: ir@loboai.com
Ascent Investor Relations LLC
Tina Xiao
Tel: +1-646-932-7242
Email: investors@ascent-ir.com
LOBO TECHNOLOGIES LTD
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(In U.S. dollars except for number of shares)
As of
-----------------------------
December
June 30, 2026 31, 2025
--------------- -----------
Assets
Current assets:
Cash and cash equivalents $ 980,746 $ 908,341
Accounts receivable, net 3,922,979 3,107,520
Inventories, net 10,221,788 9,698,754
Short-term investments 49,962 747,709
Prepaid expenses and other current
assets 3,281,862 3,366,882
----------- ----------
Total current assets 18,457,337 17,829,206
----------- ----------
Property and equipment, net 1,106,184 1,097,411
Intangible assets, net 121,037 308,553
Operating lease right-of-use assets,
net 796,351 1,014,161
Long-term loan receivable 850,000 -
Deferred tax assets 182,882 247,309
----------- ----------
Total Assets 21,513,791 20,496,640
=========== ==========
Liabilities and Shareholders'
Equity
Current liabilities:
Accounts payable $ 1,455,864 $ 1,768,339
Contract liability 3,239,888 2,067,018
Other current payables 718,523 3,360,773
Taxes payable 1,739,791 1,414,938
Amounts due to related parties 163,625 38,564
Short-term loans 4,540,378 2,968,491
Operating lease liabilities, current 1,451,725 1,233,892
----------- ----------
Total current liabilities 13,309,794 12,852,015
----------- ----------
Long-term loan 14,990 95,441
Deferred tax liabilities 7,964 151,308
Operating lease liabilities,
non-current 200,306 410,572
Total liabilities 13,533,054 13,509,336
----------- ----------
Commitments and contingencies - -
Equity:
Class A Ordinary shares (US$0.001
par value per share; 90,000,000 and
90,000,000 shares authorized as of
June 30, 2026 and December 31,
2025; 10,711,618 and 8,838,194
shares issued and outstanding as of
June 30, 2026 and December 31,
2025, respectively) 10,712 8,839
Class B Ordinary shares (US$0.001
par value per share; 10,000,000 and
10,000,000 shares authorized as of
June 30, 2026 and December 31,
2025; 3,730,320 and 3,730,320
shares issued and outstanding as of
June 30, 2026 and December 31,
2025, respectively) 3,730 3,730
Additional paid-in capital 12,624,147 10,804,674
Accumulated deficit (4,873,449) (3,795,004)
Accumulated other comprehensive
income/(loss) 51,153 (199,379)
Statutory reserve 164,444 164,444
----------- ----------
Total shareholders' equity 7,980,737 6,987,304
----------- ----------
Total Liabilities and Equity $ 21,513,791 $20,496,640
=========== ==========
LOBO TECHNOLOGIES LTD
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS AND COMPREHENSIVE INCOME
(In U.S. dollars except for number of shares)
Six Months Ended June 30,
-----------------------------
2026 2025
--------------- -----------
Revenues $ 14,586,984 $12,091,762
Cost of revenues 12,661,580 10,149,305
----------- ----------
Gross Profit 1,925,404 1,942,457
Operating expenses
Selling and marketing expenses 423,358 338,080
General and administrative expenses 796,048 1,701,458
Research and development expenses 1,320,313 1,053,921
----------- ----------
Total operating expenses 2,539,719 3,093,459
----------- ----------
Operating loss (614,315) (1,151,002)
Other (expenses)/income
Interest expense (60,464) (1,437,601)
Gain on disposal of subsidiaries - 50,545
Other (expenses)/income (478,784) 86,714
----------- ----------
Total other (expenses)/income, net (539,248) (1,300,342)
Loss before income tax expense (1,153,563) (2,451,344)
----------- ----------
Income tax (benefit)/expense (75,118) 170,825
----------- ----------
Net Loss (1,078,445) (2,622,169)
----------- ----------
Net Loss (1,078,445) (2,622,169)
Foreign currency translation
adjustments 250,532 176,222
Total comprehensive loss (827,913) (2,445,947)
Net loss per share, basic and
diluted $ (0.07) $ (0.28)
Weighted average shares outstanding,
basic and diluted 14,678,842 9,368,223
LOBO TECHNOLOGIES LTD
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS
(In USD)
For the six months ended June 30,
2026 2025
CASH FLOWS FROM OPERATING
ACTIVITIES
Net loss (1,078,445) (2,622,169)
Adjustment to reconcile net loss to net cash used
in operating activities
Depreciation and amortization 284,556 364,331
Common stock issued for
services - 354,950
Investment loss/(income) 389,239 (20,113)
Gain on disposal of
subsidiaries - (50,545)
Amortization of Convertible
Note issuance cost and debt
discount upon conversion - 1,421,069
Amortization of operating lease
right-of-use assets 246,095 -
Changes in Operating Assets
and Liabilities
Accounts receivable, net (1,702,930) (952,628)
Inventories, net (223,173) (1,726,797)
Prepaid expenses and other
current assets 172,286 3,358,866
Deferred tax asset 71,197 -
Deferred tax liabilities (146,315) -
Accounts payable (359,867) (648,149)
Advance from customers 1,097,007 (1,212,522)
Other current payables (2,698,280) (14,258)
Taxes payable 278,306 364,118
Operating lease Liabilities (42,362) 170,091
Net cash used in operating
activities (3,712,686) (1,213,756)
CASH FLOWS FROM INVESTING
ACTIVITIES
Purchase of short-term
investment (810,815) (551,526)
Sales of short-term investment 1,134,125 571,639
Proceeds from disposal of
subsidiaries - 206,822
Purchase of property and
equipment (51,475) (95,215)
Payments for loans advanced to
third parties (850,000) -
Net cash (used in)/provided by
investing activities (578,165) 131,720
CASH FLOWS FROM FINANCING
ACTIVITIES
Proceeds from issuance of Class A
ordinary shares and warrants 1,820,746 -
Proceeds from exercise of
Pre-Funded Warrants 600
Proceeds of interest-free loan
from related parties 1,677,783 382,484
Repayments of interest-free
loan to related parties (576,221) (1,180,782)
Proceeds from short-term loan 2,185,824 1,481,385
Repayments of short-term loans (728,608) -
Repayments of long-term loans (75,448) (71,389)
Net cash provided by financing
activities 4,304,676 611,698
-
Effect of exchange rate changes
on cash and cash equivalents 58,580 4,959
NET INCREASE/(DECREASE) IN CASH
AND CASH EQUIVALENTS 72,405 (465,379)
CASH AND CASH EQUIVALENTS,
beginning of period 908,341 1,889,590
CASH AND CASH EQUIVALENTS, end
of period 980,746 1,424,211
SUPPLEMENTAL CASH FLOW
INFORMATION
Cash paid during the period
for:
Income taxes 4,200 -
Interest 72,686 (26,741)
NON-CASH TRANSACTIONS
Common stock issued upon conversion of debt and
accrued interest 1,382,664
Offsetting of the consideration
receivable from disposal of
subsidiary against other
current payables 3,515,981
Offsetting of account receivables
against amounts due to related
parties 976,335 -
Comments