Business
Mobilicom Reports 2024 Year-End Financial Results: Record Revenues Up 45%
Revenue momentum continues with robust gross margins, reduced operating expenses Major recent wins expected to drive growth include the addition of
About this update from Mobilicom Limited
[{"type":"text","content":"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 $8.6 million with low average monthly net burn rate of $267K provides a long cash runway to support growth 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 60% on a hardware product mix.” “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-ov...