News and Announcements
Mobilicom Limited’s (ASX: MOB) Strong Q2 2018 Results
- Published August 03, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Mobilicom outperforms expected business goals for Q2.
- The company had strong financial improvements with a strong cash balance of $6.6m.
- The company completed two successful proof of concept trials, two design wins, secured two new partnerships and launched their SkyHopper ControlAir.
MobilicomQ2 Activities report has seen significant financial improvements over vital parameters. This past quarter has seen Mobilicom conduct two successful proof of concept trials by their Mobilico Communication Units (MCUs) in Sri Lanka and the Czech Republic. The company exceeded their first-year plans with ten design wins, obtaining three certifications across the US, Europe and Japan, and the launching of five products. The 2018 Q2 saw the company improve their financial results with cash receipts up 13% from Q1 2018. Operating expenses were lower than expected to allow the company to maintain a healthy cash balance of $6.6m.
Mobilicom secured two new design wins in Q2. The first with UK-based Clogworks Technologies, manufacturer of unmanned aerial vehicles for security and surveillance application. The second, Percepto, an Israeli autonomous drone manufacturer. Mobilicom established partnerships with Japan UAS industrial Development Association (JUIDA) and the Israeli company, Agrowing. This quarter, the company released their SkyHopper Control Air, a mobile controller for commercial and industrial drones. The release makes the company a step further to becoming an end-to-end provider in the drones and robotics market.
About Mobilicom Limited (ASX: MOB)
Mobilicom designs, develops and markets solutions for mission critical and remote mobile private communication networks without the need for, or use of, any existing infrastructure. Mobilicom’s products and technology merge 4G communication with Mobile MESH technologies into a unified solution, with several product families that have been commercially deployed. Mobilicom’s SkyHopper entity targets the Professional, Commercial and Industrial UAV market.
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