News and Announcements
Mobilicom Limited Quarterly Report: 7 new customers, recurrent sales and new board member
- Published October 09, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Mobilicom has maintained a strong cash balance of $5,990,000 with a significantly lower net cash burn rate of $632,000 for the quarter.
- Mobilicom is obtaining recurrent revenue from leading drone and robotics companies as well as global brand names.
- The company has strengthened its corporate structure by appointing two new team members, Mr Jon Brett has been appointed non-executive director and Dr. Yuval Dan-Gur has been appointed Chief operations Director.
Mobilicom has maintained a strong cash balance of $5,990,000 with a significantly lower net cash burn rate of $632,000 for the quarter.
Total receipts from customers YTD 2018 amounted to $2,080,000, up 71% from the 2017 comparative period.
Mobilicom is now obtaining recurrent revenue from leading drone and robotics companies as well as global brand names. In addition, the company has built its next level of growth for Mobilicom and SkyHopper entities.
SkyHopper has increased its sales, integrating solution with 7 new, global drone manufacturers in the US, France, Germany, Korea, Poland, Czech Republic and Austria.
The company recently won a substantial government contract with the Israeli Ministry of Defence. This contract will be the provision of a complete solution that will be deployed in government and homeland security operations.
This quarter Mobilicom has strengthened its corporate structure by appointing two new team members, Mr Jon Brett has been appointed non-executive director and Dr. Yuval Dan-Gur has been appointed Chief operations Director.
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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