Mobilicom Q2 Earnings Call Highlights

Second-quarter revenue reached approximately $1.2 million , driven by monthly deliveries under a U.S. Department of War program.

Mobilicom said demand remains intact despite a lower backlog, which reflected shipments rather than weaker orders.

Mobilicom ended the period with nearly $16 million in adjusted cash and no debt , while reporting an EBITDA loss and cash burn of about $500,000 per month.

Management said it does not need to raise capital to execute its current plan.

The company launched two products, secured two design wins and reached nine Tier 1 customer platforms in the first half.

It is also finalizing a U.S. manufacturing partnership and targeting future defense opportunities tied to secure communications, cybersecurity and autonomous systems.

Mobilicom NASDAQ: MOB reported second-quarter revenue of approximately $1.2 million as deliveries under a U.S. Department of War program of record moved to a monthly cadence, executives said during the company’s first-half 2026 results call.

Founder and Chief Executive Officer Oren Elkayam said all revenue during the period came from off-the-shelf product sales to enterprise and defense customers, with the majority generated in the United States.

He said the company continued to generate revenue from both hardware products and software licensing, with hardware gross margins in the 50% to 60% range and software margins that can reach up to 90%.

Director of Finance Liad Gelfer said the majority of first-half revenue arrived in the second quarter as the program transitioned to ongoing monthly deliveries.

While backlog declined from the end of the first quarter, Gelfer said that reflected shipments rather than weakening demand, describing backlog as “throughput rather than a stock of waiting orders.”

Orders received after the first-half close are being built for second-half fulfillment, he said.

Cash Position and Spending Mobilicom said it ended the period with nearly $16 million in adjusted cash on hand.

Gelfer said the company has no debt, credit facilities or at-the-market equity program, and characterized its balance sheet as providing a multiyear runway at its current spending rate.

Gelfer said the company’s EBITDA loss was roughly $500,000 per month, in line with adjusted cash burn.

The difference between the two measures reflected working capital accumulated to support anticipated second-half deliveries, he said.

He added that the company’s reported IFRS net loss was affected primarily by non-cash share-based compensation, currency movements and warrant valuation changes.

Cash received during the half came from holders exercising existing instruments rather than from a new equity issuance, according to Gelfer.

Responding to an analyst question, Gelfer said Mobilicom does not need to raise capital to execute its stated plan.

Any future financing would be considered for opportunities such as accelerating operations or pursuing mergers and acquisitions, rather than for operating necessity, he said.

New Products and Design Wins Elkayam said Mobilicom launched two products during the period: SkyHopper Multiband and Scarper Tactical.

The company also secured two design wins based on those products, including a win with an Israeli Tier 1 manufacturer for a short- to mid-range loitering munition platform.

The chief executive said the loitering munition program could support larger volumes if it advances to mass production.

He also highlighted a separate design win for an AI-enabled autonomous weapon system that incorporates two Mobilicom software products and two hardware products, including the Scarper data link and a 10-inch mobile ground control station.

Elkayam said the initial order for that pro