Mobilicom Reports 2024 Year-End Financial Results: Record Revenues Up 45%
Mobilicom (MOB) reported strong financial results for 2024, with revenues increasing 45% year-over-year to $3.2 million. The company maintained robust gross margins of 58% while reducing operating expenses to $5.9 million.
Key highlights include a strong cash position of $8.6 million with a low monthly net burn rate of $267K, and a confirmed order backlog of $1.1 million expected to be fulfilled in H1 2025. The company's products were added to the U.S. Department of Defense's Blue UAS Framework, marking a significant milestone for potential defense contracts.
Notable achievements include multiple production orders from Tier-1 customers, including a $600,000 order for SkyHopper PRO and a $530,000 order for SkyHopper PRO Micro. The company also launched its OS3 cybersecurity software solution for AI-driven drones and robotics, partnering with Aitech Systems for deployment.
Mobilicom (MOB) ha riportato risultati finanziari solidi per il 2024, con un aumento dei ricavi del 45% rispetto all'anno precedente, raggiungendo 3,2 milioni di dollari. L'azienda ha mantenuto margini lordi robusti del 58% riducendo nel contempo le spese operative a 5,9 milioni di dollari.
I punti salienti includono una solida posizione di liquidità di 8,6 milioni di dollari con un basso tasso di consumo netto mensile di 267K dollari, e un portafoglio ordini confermato di 1,1 milioni di dollari che si prevede sarà evaso nel primo semestre del 2025. I prodotti dell'azienda sono stati aggiunti al Blue UAS Framework del Dipartimento della Difesa degli Stati Uniti, segnando un traguardo significativo per potenziali contratti di difesa.
Risultati notevoli includono diversi ordini di produzione da clienti di livello 1, tra cui un ordine di 600.000 dollari per SkyHopper PRO e un ordine di 530.000 dollari per SkyHopper PRO Micro. L'azienda ha anche lanciato la sua soluzione software di cybersicurezza OS3 per droni e robotica guidati dall'IA, collaborando con Aitech Systems per il dispiegamento.
Mobilicom (MOB) reportó resultados financieros sólidos para 2024, con un aumento de ingresos del 45% interanual, alcanzando 3,2 millones de dólares. La empresa mantuvo márgenes brutos robustos del 58% mientras reducía los gastos operativos a 5,9 millones de dólares.
Los aspectos más destacados incluyen una sólida posición de efectivo de 8,6 millones de dólares con una baja tasa de quema neta mensual de 267K, y un backlog de pedidos confirmado de 1,1 millones de dólares que se espera se cumpla en el primer semestre de 2025. Los productos de la empresa fueron añadidos al Marco Blue UAS del Departamento de Defensa de EE. UU., marcando un hito significativo para posibles contratos de defensa.
Logros notables incluyen múltiples órdenes de producción de clientes de nivel 1, incluyendo un pedido de 600,000 dólares para SkyHopper PRO y un pedido de 530,000 dólares para SkyHopper PRO Micro. La empresa también lanzó su solución de software de ciberseguridad OS3 para drones y robótica impulsados por IA, asociándose con Aitech Systems para su implementación.
Mobilicom (MOB)은 2024년 강력한 재무 실적을 보고했으며, 수익이 전년 대비 45% 증가하여 320만 달러에 달했습니다. 회사는 58%의 견고한 총 이익률을 유지하는 동시에 운영 비용을 590만 달러로 줄였습니다.
주요 하이라이트로는 860만 달러의 강력한 현금 포지션과 월간 순 소모율이 267K로 낮고, 2025년 상반기에 이행될 것으로 예상되는 110만 달러의 확정된 주문 잔고가 있습니다. 회사의 제품은 미국 국방부의 Blue UAS 프레임워크에 추가되어 방산 계약의 잠재적 이정표를 세웠습니다.
주목할 만한 성과로는 Tier-1 고객으로부터의 여러 생산 주문이 있으며, SkyHopper PRO에 대한 60만 달러의 주문과 SkyHopper PRO Micro에 대한 53만 달러의 주문이 포함됩니다. 회사는 또한 AI 기반 드론 및 로봇을 위한 OS3 사이버 보안 소프트웨어 솔루션을 출시하고 Aitech Systems와 협력하여 배포했습니다.
Mobilicom (MOB) a rapporté de solides résultats financiers pour 2024, avec une augmentation des revenus de 45% d'une année sur l'autre, atteignant 3,2 millions de dollars. L'entreprise a maintenu des marges brutes robustes de 58% tout en réduisant les dépenses opérationnelles à 5,9 millions de dollars.
Parmi les points forts, on trouve une solide position de trésorerie de 8,6 millions de dollars avec un faible taux de consommation nette mensuel de 267K, et un carnet de commandes confirmé de 1,1 million de dollars qui devrait être exécuté au premier semestre 2025. Les produits de l'entreprise ont été ajoutés au cadre Blue UAS du Département de la Défense des États-Unis, marquant une étape significative pour des contrats de défense potentiels.
Parmi les réalisations notables, on trouve plusieurs commandes de production de clients de niveau 1, y compris une commande de 600 000 dollars pour SkyHopper PRO et une commande de 530 000 dollars pour SkyHopper PRO Micro. L'entreprise a également lancé sa solution de cybersécurité OS3 pour les drones et la robotique alimentés par l'IA, en s'associant à Aitech Systems pour le déploiement.
Mobilicom (MOB) hat für 2024 starke finanzielle Ergebnisse gemeldet, mit einem Umsatzanstieg von 45% im Jahresvergleich auf 3,2 Millionen Dollar. Das Unternehmen hielt robuste Bruttomargen von 58% aufrecht und reduzierte die Betriebskosten auf 5,9 Millionen Dollar.
Wichtige Highlights sind eine starke Liquiditätsposition von 8,6 Millionen Dollar mit einer niedrigen monatlichen Nettoverbrennungsrate von 267K und einem bestätigten Auftragsbestand von 1,1 Millionen Dollar, der voraussichtlich im ersten Halbjahr 2025 erfüllt wird. Die Produkte des Unternehmens wurden in das Blue UAS Framework des US-Verteidigungsministeriums aufgenommen, was einen bedeutenden Meilenstein für potenzielle Verteidigungsverträge darstellt.
Bemerkenswerte Erfolge umfassen mehrere Produktionsaufträge von Tier-1-Kunden, darunter eine Bestellung über 600.000 Dollar für SkyHopper PRO und eine Bestellung über 530.000 Dollar für SkyHopper PRO Micro. Das Unternehmen hat auch seine OS3-Cybersicherheitssoftwarelösung für KI-gesteuerte Drohnen und Robotik eingeführt und arbeitet mit Aitech Systems zusammen, um diese bereitzustellen.
- 45% revenue growth to $3.2 million in 2024
- Strong gross margins maintained at 58%
- 24% reduction in operating net cash burn rate
- Addition to DoD's Blue UAS Framework
- $1.1 million order backlog for H1 2025
- Multiple production orders from Tier-1 customers
- Healthy cash position of $8.6 million
- EBITDA remains negative at $(3.2) million despite improvement
- Operating expenses of $5.9 million still exceed revenue
Insights
Mobilicom's financial results demonstrate remarkable progress, with
Their
With
While still operating at a loss (negative EBITDA of
The company's positioning at the intersection of drones, AI, and cybersecurity places them in multiple high-growth markets, with their software licensing strategy potentially transforming margin profile and business valuation metrics as they scale.
Mobilicom's inclusion in the DoD's Blue UAS Framework represents a transformative milestone that drastically enhances their competitive positioning in the defense drone market. This prestigious certification opens direct procurement channels not just with U.S. defense programs but across NATO allies who are implementing significant defense budget increases.
The company's cybersecure datalinks and ground control systems address critical vulnerabilities in unmanned systems, as evidenced by their integration into platforms from major U.S. drone manufacturers and loitering munition providers. Their
Most significantly, their OS3 cybersecurity software platform designed for NVIDIA-based AI drone systems positions them at the forefront of autonomous defense technologies. As military operations increasingly rely on AI-driven systems, securing these platforms against cyber threats becomes mission-critical.
The company's ability to secure multiple initial production orders from Tier-1 defense contractors suggests they've crossed the challenging barrier from development to deployment phases. Their cross-selling success with existing customers (adding MCU-30 Mobile MESH to existing relationships) demonstrates the comprehensive nature of their security ecosystem.
As defense budgets prioritize unmanned systems and counter-drone capabilities, Mobilicom's specialized focus on security positions them advantageously in a market segment requiring specialized expertise and certified solutions.
Revenue momentum continues with robust gross margins, reduced operating expenses
Major recent wins expected to drive growth include the addition of Mobilicom’s systems to the U.S. Department of Defense’s (DoD) Blue UAS Framework and its OS3 cybersecurity software platform for AI-Driven drones and robotics
Strong cash position of
PALO ALTO, Calif., March 27, 2025 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB), a provider of cybersecurity and robust solutions for drones and robotics, today announced financial results for the twelve months ended December 31, 2024, as well as recent business and operational highlights.
“2024 marked a major year for us in developing and launching the OS3 cybersecurity software solution, which runs on AI-driven NVIDIA-based platforms that are becoming the next-generation standard for drones and robotics. In 2025, we are excited to leverage our breakthrough innovation and first-to-market advantage by building an infrastructure for success through strategic and commercial partnerships, positioning us as a leader at the intersection of drones and robotics, AI and cybersecurity,” stated Mobilicom CEO and Founder Oren Elkayam.
“Licensed software products, such as OS3 and ICE cybersecure solutions, are expected to further expand gross margins, which are already robust at close to
“Our continued product traction and revenue momentum with Tier-1 customers worldwide highlight the value of our field-proven cybersecure hardware solutions. We anticipate further order growth in 2025, driven by an expected ramp-up in production by Tier-1 customers that compete for programs of record with major militaries, including the DoD.”
“As we look to 2025 and beyond, the importance of being selected to join the DoD’s Blue UAS Framework cannot be overstated. We believe that this is a catalyst that is expected to drive accelerating adoption of our technologies not only with DoD programs of record, but also with NATO countries, which are now significantly increasing their defense budgets, as well as with companies producing drones and robotics for commercial applications,” Elkayam concluded.
Financial Highlights for the Twelve Months Ended December 31, 2024
- Revenues increased
45% year-over-year to$3.2 million from$2.2 million in 2023 driven by a growing number of initial production orders from U.S. and global Tier-1 customers - Confirmed order backlog as of December 31, 2024 was
$1.1 million and is expected to be fulfilled in H1 2025 - Gross margin remained consistently high at
58% compared to59% in 2023, reflecting strong high-end IP-based technology and effective components costs-reduction planning - OPEX, consisting of research and development, general and administrative and selling and marketing expenses, dropped slightly to
$5.9 million from$6.1 million in 2023, even as revenues grew, pointing to the Company’s ability to ramp sales without increasing operational costs - Operating net cash burn rate narrowed by
24% to$3.2 million from$4.2 million in 2023, averaging approximately$267,000 per month - EBITDA improved by
18% to$(3.2) million compared to$(3.9) million in 2023 - Strong cash position of
$8.6 million as of December 31, 2024, following$1.2 million in proceeds from warrant exercises, and a low monthly burn rate affords Mobilicom a long cash runway to implement its strategic plans, capture market share, increase software revenues through new product mix, and further ramp revenues
H2 2024 and Recent Operational Highlights
- The DoD’s Defense Innovation Unit added three Mobilicom SkyHopper products to the Blue UAS Framework, a prestigious short-list of approved products eligible for procurement by the DoD; Marks a significant milestone that is expected to open new opportunities and substantially increase demand for SkyHopper PRO, PRO Lite, and PRO Micro from Tier-1 global OEMs serving the global defense and commercial UAS markets, including federal and state programs as well as European and NATO member nations
- Partnered with Aitech Systems for roll-out of OS3 cybersecurity software to deliver secure AI-driven autonomous computing solutions for aerospace and defense uncrewed aircraft systems (UAS)
- Received its 5th initial production scale order for the SkyHopper PRO cybersecure datalinks, valued at
$600,000 , from a current customer, one of the largest U.S.-based drone manufacturers - Received a
$530,000 order for the SkyHopper PRO Micro from one of the world’s largest loitering munitions providers which has already integrated Mobilicom’s Ground Control Station into its drones, bringing this customer’s cumulative orders for the two products to over$1.7 million in less than one year - Selected for a
$390,000 R&D innovation program to develop Enhanced Electronic Warfare communications systems that protect uncrewed aerial vehicles (UAVs) against advanced wideband jamming - Secured initial production-scale orders from an innovative U.S.-based drone designer and manufacturer that has integrated SkyHopper PRO into its high payload long range drones that are being sold to leading defense and commercial end users across the U.S.
- Mobilicom’s cybersecure MCU-30 Mobile MESH product was selected by a current customer, one of the world’s largest loitering munitions manufacturers, for integration into its latest perimeter protection drone fleets, demonstrating the Company’s potential to cross-sell its end-to-end solutions to existing customers
- Entered strategic partnership with DT Research targeting the tactical ground control station (GCS) market for small-sized drones and robotics in harsh environments; The first product of this partnership, Mobilicom’s 8" Controller Pro, was launched in September 2024 and has been extremely well received
A copy of Mobilicom’s annual report on Form 20-F for the year ended December 31, 2024 has been filed with the U.S. Securities and Exchange Commission at https://www.sec.gov/ and posted on Mobilicom’s investor relations website at https://ir.mobilicom.com/. Mobilicom will deliver a hard copy of its annual report, including its complete audited consolidated financial statements, free of charge, to its shareholders upon request at liad.gelfer@mobilicom.com.
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 leveraging its breakthrough innovation and first-to-market advantage by building an infrastructure for success through strategic and commercial partnerships, positioning it as a leader at the intersection of drones and robotics, AI and cybersecurity, its expectation to further expand gross margins, its anticipation of further order growth in 2025, its expectation regarding the accelerating adoption of its technologies and its expectation regarding the opening of new opportunities and increased demand for its products. 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:
Liad Gelfer
Mobilicom Ltd
liad.gelfer@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 are the principal indicators of the operating and financial performance of its business.
Management believes the non-IFRS financial measures provided are useful to investors' understanding and assessment of Mobilicom’s ongoing core operations and prospects for the future, as the charges eliminated are not part of the day-to-day business or reflective of the core operational activities of the company. Management uses these non-IFRS financial measures as a basis for strategic decisions, and evaluating the Company's current performance. 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 provided by operating activities or any other measures of our cash flows or liquidity.
EBITDA is a non-IFRS financial measure that is defined as earnings before interest, taxes, depreciation, amortization, and other non-cash or one-time expenses.
| Mobilicom Limited | |||||||
| Condensed Consolidated Statements of Profit or Loss | |||||||
| $ | $ | ||||||
| For the twelve months ended, December 31, | For the twelve months ended, December 31, | ||||||
| 2024 | 2023 | ||||||
| Revenue | $ | 3,180,565 | $ | 2,193,791 | |||
| Cost of sales | 1,348,711 | 902,006 | |||||
| Gross margin | 1,831,854 | 1,291,785 | |||||
| Operating Expenses | |||||||
| Selling and marketing expenses | 1,965,426 | 2,088,200 | |||||
| Research and development, net | 1,939,691 | 1,739,761 | |||||
| General and administration expenses | 1,970,849 | 2,256,408 | |||||
| Total operating expenses | 5,875,966 | 6,084,369 | |||||
| Operating loss | (4,044,112 | ) | (4,792,584 | ) | |||
| Other (expenses) income | (3,805,444 | ) | 307,753 | ||||
| Loss before income tax expenses | $ | (7,849,556 | ) | $ | (4,484,831 | ) | |
| Income tax expenses | (160,802 | ) | (80,923 | ) | |||
| Net loss | $ | (8,010,358 | ) | $ | (4,565,754 | ) | |
| Net loss per share - basic and diluted | (0.48 | ) | (0.34 | ) | |||
| Weighted average shares outstanding - basic and diluted | 1,670,912,794 | 1,328,152,166 | |||||
| Mobilicom Limited | |||||||
| Reconciliation table of EBITDA to Loss after income tax expenses | |||||||
| $ | $ | ||||||
| For the twelve months ended, December 31, | For the twelve months ended, December 31, | ||||||
| 2024 | 2023 | ||||||
| Net loss | $ | (8,010,358 | ) | $ | (4,565,754 | ) | |
| Financial expenses (income), net | 3,805,444 | (307,753 | ) | ||||
| Depreciation | 252,524 | 233,984 | |||||
| Share-based compensation | 610,395 | 610,303 | |||||
| Income tax expense | 160,802 | 80,923 | |||||
| EBITDA | $ | (3,181,193 | ) | $ | (3,948,297 | ) | |
| Mobilicom Limited | |||||||
| Condensed Consolidated Statements of Financial Position | |||||||
| $ | $ | ||||||
| December 31, | December 31, | ||||||
| 2024 | 2023 | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 8,589,282 | $ | 8,385,283 | |||
| Restricted cash | 97,108 | 59,426 | |||||
| Trade and other receivables, net | 949,225 | 977,578 | |||||
| Inventories | 892,882 | 934,779 | |||||
| Total current assets | 10,528,497 | 10,357,066 | |||||
| Non-current assets | |||||||
| Property, plant and equipment, net | 81,420 | 80,547 | |||||
| Right-of-use assets | 232,868 | 460,300 | |||||
| Total non-current assets | 314,288 | 540,847 | |||||
| Total assets | $ | 10,842,785 | $ | 10,897,913 | |||
| $ | $ | ||||||
| December 31, | December 31, | ||||||
| 2023 | 2022 | ||||||
| Liabilities | |||||||
| Current liabilities | |||||||
| Trade and other payables | $ | 1,233,654 | $ | 1,420,019 | |||
| Lease liabilities | 211,265 | 223,700 | |||||
| Total current liabilities | 1,444,919 | 1,643,719 | |||||
| Non-current liabilities | |||||||
| Lease liabilities | 16,028 | 229,078 | |||||
| Employee benefits | 200,604 | 202,151 | |||||
| Governmental liabilities on grants received | 12,468 | 4,560 | |||||
| Financial liability | 5,140,921 | 1,075,808 | |||||
| Total non-current liabilities | 5,370,021 | 1,511,597 | |||||
| Total liabilities | 6,814,940 | 3,155,316 | |||||
| Net assets | $ | 4,027,845 | $ | 7,742,597 | |||
| Equity | |||||||
| Issued capital | 34,837,206 | 31,035,121 | |||||
| Reserves | (417,959 | ) | (911,480 | ) | |||
| Accumulated losses | (30,391,402 | ) | (22,381,044 | ) | |||
| Total equity | $ | 4,027,845 | $ | 7,742,597 | |||
FAQ
What was Mobilicom's (MOB) revenue growth in 2024?
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