Mobilicom reported 232% revenue growth, strong EBITDA improvement, and a solid cash position

From GlobeNewswire: 2024-09-09 07:00:00

Mobilicom Limited reported financial results for the six months ending June 30, 2024. Revenues rose 232% year-over-year to $1.8 million, with OPEX steady and operating net burn rate at $1.1 million. EBITDA improved by 37% to $(1.5) million. Order backlog stood at $700,000 with plans to fulfill in H2 2024. Key operational highlights include new orders from U.S. drone and munitions manufacturers, among others.

Mobilicom’s CEO, Oren Elkayam, highlighted the growing demand for autonomous systems amidst global conflicts and increasing budget allocations for defense. The company’s ICE Suite cybersecurity solutions continue to play a critical role in this landscape. Tier-1 customers securing large contracts with U.S. DoD and EU programs indicate Mobilicom’s strong growth potential.

Mobilicom is a leading provider of cybersecure solutions for the defense and commercial drones and robotics market, offering a range of technologies and services to power, connect, and secure drones and robotics. The company’s end-to-end solutions have been deployed by over 50 customers worldwide, including major drone manufacturers. Investors can find more information on Mobilicom’s website and IR page.

In addition to reporting financial results based on IFRS, Mobilicom also provides non-IFRS financial measures. EBITDA, a key indicator of operating performance, improved to $(1.5) million, reflecting the company’s ongoing core operations. The presentation of non-IFRS measures helps investors understand Mobilicom’s performance and prospects. The company’s interim consolidated financial statements show a strong cash position of $10 million.



Read more at GlobeNewswire:: Mobilicom Reports Financial Results for the Six Months