Mobilicom Stock Price, News & Analysis

Mobilicom (Nasdaq: MOB) reported strong financial results for H1 2024, with revenues up 232% year-over-year to $1.8 million. This growth was driven by initial production scale orders from U.S. and Israeli Tier-1 customers. The company maintained a high gross margin of 56% and steady OPEX, demonstrating business model scalability. Mobilicom's cash position remains strong at $10 million, with a narrowing monthly burn rate of approximately $180,000.

Operational highlights include follow-on orders from major U.S. drone manufacturers and loitering munitions providers, as well as selection by Israel's Ministry of Defense for its small-sized drone program. The company also launched its OS3 Operations platform and new MCU-300 cybersecure software defined radio ground unit, expanding its market reach.

Mobilicom (Nasdaq: MOB) has unveiled its next-generation 8-inch Controller Pro, a ground control station (GCS) for drones and robotics, at the Commercial UAV Expo in Las Vegas. This innovative GCS aims to address the needs of a market projected to grow to $26 billion by 2030 at a CAGR of 22% from 2023 to 2030.

The 8-inch Controller Pro is designed to offer a unique combination of power, portability, and affordability, catering to the increasing deployment of small-sized drones, robotics, and loitering munitions by governments and enterprises. Mobilicom's CEO, Oren Elkayam, highlighted the product's potential to be transformative for the uncrewed systems and robotics sector, addressing a critical market need for a rugged, durable, and U.S. NDAA-compliant solution at a competitive price point.

Mobilicom (Nasdaq: MOB, MOBBW), a cybersecurity and robust solutions provider for drones and robotics, has regained compliance with Nasdaq's minimum bid price requirement. The company received formal notice from Nasdaq confirming its compliance with all applicable listing standards, allowing its American Depositary Shares (ADSs) to continue trading on the Nasdaq Capital Market.

Mobilicom had previously been notified on June 25, 2024, of its failure to maintain a minimum bid price of $1.00 for 30 consecutive business days. The company successfully met the requirement by maintaining a closing bid price of $1.00 or more for 10 consecutive trading days from July 5 to July 18, 2024, well ahead of the December 23, 2024 deadline provided by Nasdaq.

Mobilicom (Nasdaq: MOB) has received a follow-on order for its SkyHopper PRO datalink system from a major U.S.-based drone manufacturer. This client, with annual sales exceeding $5 billion, supplies drones to the U.S. defense market, including the Department of Defense. SkyHopper PRO, chosen over four competitors after field testing, offers secured cognitive SDR technology with superior performance in harsh environments and the best performance-to-SWaP-C in the market.

Mobilicom expects further orders as the global drone data link market is projected to grow at a CAGR of 25%, reaching $18 billion by 2030. The current order is valued at approximately $500,000, anticipating future larger orders.

Mobilicom has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement, as its ADSs have closed below $1.00 for 30 consecutive trading days.

The company has until December 23, 2024, to regain compliance with the minimum bid price by achieving a closing bid price of $1.00 or above for at least 10 consecutive business days.

If Mobilicom fails to do so within this period, it may qualify for an additional 180-day compliance period provided it meets other listing standards. The notice has no immediate effect on the company's Nasdaq listing or trading of its ADSs.

Mobilicom, a provider of cybersecurity solutions for drones and robotics, announced a follow-on order for its 10” Ground Control Station (GCS) from a top loitering munitions provider. This provider has annual revenues of $4 billion and serves clients including Lockheed Martin and various NATO countries. The GCS market is projected to grow to $26.56 billion by 2030, with a CAGR of 23%. Mobilicom’s solutions, including the GCS and SkyHopper PRO Micro datalink, offer military-grade performance and NDAA compliance. The $240,000 order reflects Mobilicom’s growth in the UAV market, driven by increasing global demand for drones.

Mobilicom CEO Oren Elkayam will attend the AUVSI's Hill Day on June 4, 2024, in Washington, D.C., to advocate for supportive regulations for uncrewed and autonomous technologies. Elkayam will join other industry leaders in meetings with key Members of Congress, the Congressional Unmanned Systems Caucus, and relevant House and Senate committees. Mobilicom, known for its cybersecurity solutions for drones and robotics, will leverage its expertise to discuss policies beneficial to the deployment of uncrewed systems. This engagement highlights Mobilicom's active role in shaping regulations that ensure the secure and effective use of autonomous technologies for societal benefit.

Mobilicom's CEO, Oren Elkayam, will participate in a fireside chat at the Maxim Group Virtual TMT Conference on June 5, 2024. Mobilicom provides cybersecurity and robust solutions for drones and robotics, targeting a market expected to reach $8.5 billion by 2026. The company's clientele includes major Tier-1 drone manufacturers that supply to leading defense organizations globally. The event will be live on M-Vest, and interested individuals can sign up on the platform to attend.

Mobilicom (Nasdaq: MOB, MOBBW), a provider of cybersecurity and robust solutions for drones and robotics, announced a third consecutive commercial scale order from a Tier-1 U.S.-based drone manufacturer. The order involves Mobilicom's SkyHopper PRO, a secure Software Defined Radio (SDR) datalink system, integrated into drones for the U.S. Department of Defense (DoD) and other federal agencies. This recurring order underlines the growing relationship and scalability with the manufacturer, suggesting potential for future orders as the manufacturer's drone sales expand.