Mobilicom Ltd 6-K, filed Aug 13, 2026
Mobilicom Ltd (MOB)
About this 6-K
Mobilicom Ltd filed this 6-K on August 13, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of August
Commission File Number
(Translation of registrant’s name into English)
1 Rakefet Street
Shoham, Israel 6083705
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
CONTENTS
This Report of Foreign Private Issuer on Form 6-K consists of the Registrant’s (i) Interim Condensed Financial Statements as of June 30, 2026, which is attached hereto as Exhibit 99.1, (ii) Management’s Discussion and Analysis of Financial Condition and Results of Operations for the six months ended June 30, 2026, which is attached hereto as Exhibit 99.2 and (iii) press release issued on August 13, 2026, titled “Mobilicom Reports Financial and Operational Results for the Six Months Ended June 30, 2026”, which is attached hereto as Exhibit 99.3.
This Report on Form 6-K, including Exhibit 99.1, Exhibit 99.2, and the first paragraph, the sections titled “Financial Highlights for the Six Months Ended June 30, 2026”, “Forward Looking Statements”, “Use of Non-IFRS Financial Information”, and the Unaudited Interim Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income, Reconciliation table of EBITDA to Loss after income tax expenses and Unaudited Interim Condensed Consolidated Statements of Financial Position tables in the press release attached as Exhibit 99.3, is incorporated by reference into the Company’s Registration Statements on Form S-8 (File No. 333-284265 and 333-289762) and Form F-3 (File No. 333-274929), filed with the Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.
1
EXHIBIT INDEX
| Exhibit No. | ||
| 99.1 | Mobilicom Ltd.’s Interim Consolidated Condensed Financial Statements as of June 30, 2026. | |
| 99.2 | Mobilicom Ltd.’s Management’s Discussion and Analysis of Financial Condition and Results of Operations for the six months ended June 30, 2026. | |
| 99.3 | Press release titled: “Mobilicom Reports Financial and Operational Results for the Six Months Ended June 30, 2026.” | |
| 101.INS | Inline XBRL Instance Document. | |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MOBILICOM LIMITED | |||
| Date: August 13, 2026 | By: | /s/ Oren Elkayam | |
| Name: | Oren Elkayam | ||
| Title: | Chairman | ||
3
Exhibit 99.1
Mobilicom Limited
Unaudited interim condensed consolidated financial statements as of June 30, 2026
| Mobilicom Limited Contents |
|
F-1
|
Mobilicom Limited Unaudited interim condensed consolidated statement of profit or loss and other comprehensive income For the half-year ended June 30, 2026 (In US dollars, except for EPS data) |
|
| Note | June
30, 2026 | June
30, 2025 | ||||||||
| $ | $ | |||||||||
| Unaudited | Unaudited | |||||||||
| Revenue | 4 | |||||||||
| Cost of sales | ( | ) | ( | ) | ||||||
| Research and development grants | ||||||||||
| Interest received | ||||||||||
| Net gain on fair value movement of warrants | 6 | |||||||||
| Total other income | ||||||||||
| Expenses | ||||||||||
| Selling and marketing expenses | ( | ) | ( | ) | ||||||
| Research and development | ( | ) | ( | ) | ||||||
| General and administration expenses | ( | ) | ( | ) | ||||||
| Foreign exchange losses | 1,2 | ( | ) | ( | ) | |||||
| Finance costs | ( | ) | ( | ) | ||||||
| Loss before income tax expense | ( | ) | ( | ) | ||||||
| Tax income (expense) | ( | ) | ||||||||
| Net loss | ( | ) | ( | ) | ||||||
| Other comprehensive income/ (loss) | ||||||||||
| Items that will not be reclassified subsequently to profit or loss | ||||||||||
| Re-measurement of defined benefit plans | 2,8 | ( | ) | ( | ) | |||||
| Items that may be reclassified subsequently to profit or loss | ||||||||||
| Foreign currency translation | 2,8 | |||||||||
| Other comprehensive income/ (loss) for the half-year, net of tax | ||||||||||
| Total comprehensive income/ (loss) for the half-year attributable to the owners of Mobilicom Limited | ( | ) | ||||||||
| $ | $ | |||||||||
| Basic earnings (loss) per share | 11 | ( | ) | )** | ||||||
| Diluted earnings (loss) per share | 11 | ( | ) | )** | ||||||
| Weighted average number of ordinary shares used in calculating basic and diluted earnings (loss) per share. | ** | |||||||||
| * | |
| ** |
The above unaudited interim condensed consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes
F-2
|
Mobilicom Limited Unaudited interim condensed consolidated statement of financial position As at June 30, 2026 (In US dollars, except for EPS data) |
|
| Note | June
30, 2026 | December 31, 2025 | ||||||||
| $ | $ | |||||||||
| Unaudited | ||||||||||
| Assets | ||||||||||
| Current assets | ||||||||||
| Cash and cash equivalents | ||||||||||
| Restricted cash | ||||||||||
| Trade receivables | ||||||||||
| Other receivables | 9 | |||||||||
| Inventories, net | ||||||||||
| Total current assets | ||||||||||
| Non-current assets | ||||||||||
| Property, plant and equipment, net | ||||||||||
| Right-of-use assets | ||||||||||
| Total non-current assets | ||||||||||
| Total assets | ||||||||||
| Liabilities | ||||||||||
| Current liabilities | ||||||||||
| Trade payables | ||||||||||
| Other payables | 9 | |||||||||
| Lease liabilities | 5 | |||||||||
| Total current liabilities | ||||||||||
| Non-current liabilities | ||||||||||
| Governmental liabilities on grants received | ||||||||||
| Employee benefits | 9 | |||||||||
| Lease liabilities | 5 | |||||||||
| Financial liability | 6 | |||||||||
| Total non-current liabilities | ||||||||||
| Total liabilities | ||||||||||
| Net assets | ||||||||||
| Equity | ||||||||||
| Issued capital | 7 | |||||||||
| Reserves | 8 | |||||||||
| Accumulated losses | ( | ) | ( | ) | ||||||
| Total equity | ||||||||||
The above unaudited interim condensed consolidated statement of financial position should be read in conjunction with the accompanying notes
F-3
|
Mobilicom Limited Unaudited interim condensed consolidated statement of changes in equity For the half-year ended June 30, 2026 (In US dollars, except for EPS data) |
|
| Issued | Share based payments | Foreign currency translation | Remeasurement | Accumulated | ||||||||||||||||||||
| capital | reserve | reserve | reserve | losses | Total equity | |||||||||||||||||||
| $ | $ | $ | $ | $ | $ | |||||||||||||||||||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||||||||||
| Consolidated | ||||||||||||||||||||||||
| Balance at January 1, 2025 | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
| Net Loss | ( | ) | ( | ) | ||||||||||||||||||||
| Other comprehensive income/ (loss) for the half-year, net of tax | ( | ) | ||||||||||||||||||||||
| Total comprehensive income /(loss) for the half-year | ( | ) | ( | ) | ||||||||||||||||||||
| Share-based payments | ||||||||||||||||||||||||
| Transactions with owners in their capacity as owners: | ||||||||||||||||||||||||
Contributions of equity, net of transaction costs | ||||||||||||||||||||||||
| Shares issued under service agreement | ||||||||||||||||||||||||
| Capital raising costs | ( | ) | ( | ) | ||||||||||||||||||||
| Expiry of options | ( | ) | ||||||||||||||||||||||
| Balance at June 30, 2025 | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
The above unaudited interim condensed consolidated statement of changes in equity should be read in conjunction with the accompanying notes
F-4
|
Mobilicom Limited Unaudited interim condensed consolidated statement of changes in equity For the half-year ended June 30, 2026 (In US dollars, except for EPS data) |
|
| Issued | Share based payments | Foreign currency translation | Remeasurement | Accumulated | ||||||||||||||||||||
| capital | reserve | reserve | reserve | losses | Total equity | |||||||||||||||||||
| $ | $ | $ | $ | $ | $ | |||||||||||||||||||
| Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||||||||||
| Consolidated | ||||||||||||||||||||||||
| Balance at January 1, 2026 | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
| Net loss | ( | ) | ( | ) | ||||||||||||||||||||
| Other comprehensive income/ (loss) for the half-year, net of tax | ( | ) | ||||||||||||||||||||||
| Total comprehensive income/ (loss) for the half-year | ( | ) | ( | ) | ( | ) | ||||||||||||||||||
| Share-based payments | ||||||||||||||||||||||||
| Transactions with owners in their capacity as owners: | ||||||||||||||||||||||||
Exercise of common warrants (Note 7) | ||||||||||||||||||||||||
| Exercise of options (Note 7) | ( | ) | ||||||||||||||||||||||
| Vesting of restricted share units (RSU) | ( | ) | ||||||||||||||||||||||
| Expiry of options | ( | ) | ||||||||||||||||||||||
| Balance at June 30, 2026 | ( | ) | ( | ) | ||||||||||||||||||||
The above unaudited interim condensed consolidated statement of changes in equity should be read in conjunction with the accompanying notes
F-5
|
Mobilicom Limited Unaudited interim condensed consolidated statement of cash flows For the half-year ended June 30, 2026 (In US dollars, except for EPS data) |
|
| June
30, 2026 | June
30, 2025 | ||||||||
| $ | $ | ||||||||
| Unaudited | Unaudited | ||||||||
| Cash flows from operating activities | |||||||||
| Receipts from customers | |||||||||
| Payments to suppliers and employees | ( | ) | ( | ) | |||||
| Interest received | |||||||||
| Interest paid on lease liabilities | ( | ) | ( | ) | |||||
| Government grants received | |||||||||
| Net cash used in operating activities | ( | ) | ( | ) | |||||
| Cash flows from investing activities | |||||||||
| Payments for property, plant and equipment | ( | ) | ( | ) | |||||
| Net cash used in investing activities | ( | ) | ( | ) | |||||
| Cash flows from financing activities | |||||||||
| Proceeds from shares issuance | |||||||||
| Proceeds from exercise of common warrants | |||||||||
| Proceeds from exercise of options | |||||||||
| Capital raising costs | ( | ) | |||||||
| Repayment of lease liabilities | ( | ) | ( | ) | |||||
| Net cash provided by / (used in) financing activities | ( | ) | |||||||
| Net decrease in cash and cash equivalents and restricted cash | ( | ) | ( | ) | |||||
| Cash and cash equivalents and restricted cash at the beginning of the financial half-year | |||||||||
| Cash and cash equivalents and restricted cash at the end of the financial half-year | |||||||||
| Supplemental disclosure of non-cash investing and financing activities | |||||||||
| Recognition of right-of-use assets against lease liabilities | |||||||||
The above unaudited interim condensed consolidated statement of cash flows should be read in conjunction with the accompanying notes
F-6
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 (In US dollars, except for EPS data) |
|
Note 1. General information
The consolidated condensed interim unaudited financial statements cover Mobilicom Limited (the “Company”) as a group consisting of the Company and the entities it controlled at the end of, or during, the half year ended June 30, 2026 (collectively, the “Group”).
The functional currency of the Company's subsidiary, Mobilicom Ltd ("Mobilicom Israel"), is Israeli New Shekels (“NIS”) and the functional currency of the Company’s subsidiary, Mobilicom Inc., is United States dollars (“USD”).
On December 8, 2025, the Company effected a reverse share split of
its issued and outstanding ordinary shares at a ratio of 1-for-275 (the “Reverse Split”). Concurrently with the Reverse Split,
the Company effected a corresponding change in the ratio of ordinary shares represented by each of the Company’s American Depositary
Shares (“ADSs”), such that the ratio changed from one ADS representing
The Company is a listed public company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business are:
| Registered office | Principal place of business | |
| C/- JM Corporate Services | 1 Rakefet Street | |
| Level 21, 459 Collins Street | Shoham, Israel 6083705 | |
| Melbourne, Victoria, 3000 | ||
| Australia |
F-7
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 |
|
Note 1. General information (continued)
The company’s principal activities are design, develop and deliver of cybersecurity and smart robust solutions for drone, robotics and autonomous platforms.
The Company is an end-to-end provider of cybersecurity and robust solutions for drones, robotics & autonomous platforms. As a high-tech company it designs, develops, and delivers robust solutions focused primarily on targeting global drone, robotics and autonomous system manufacturers. The Company holds patented technology & unique know-how for Mobile Mesh networking. It has a large, field proven portfolio of commercialized products used in a variety of applications. The Company is growing a global customer base with sales to high profile customers including corporates, governments, and military departments. The Company’s competitive advantages include outstanding security capabilities and performance in harsh environmental conditions. The Company’s large solution portfolio is being deployed worldwide, seeing the Company derive revenue from hardware, software sales& licensing fees
In recent years, Israel has been engaged in sporadic armed conflicts with Hamas, an Islamist terrorist group that controls the Gaza Strip, with Hezbollah, an Islamist terrorist group that controls large portions of southern Lebanon, and with Iranian-backed military forces in Syria. In addition, Iran has threatened to attack Israel and may be developing nuclear weapons. Iran is also believed to have a strong influence among extremist groups in the region, such as Hamas in Gaza, Hezbollah in Lebanon, the Houthi movement in Yemen and various rebel militia groups in Syria and Iraq. On October 7, 2023, Hamas launched a series of attacks on civilian and military targets in Southern Israel and Central Israel, to which the Israel Defense Forces responded. On October 9, 2025, Israel, Hamas, the United States and other countries in the region agreed to a framework for a ceasefire in Gaza between Israel and Hamas. In addition, both Hezbollah and the Houthi movement attacked military and civilian targets in Israel, to which Israel responded, including through increased air and ground operations in Lebanon. In addition, the Houthi movement attacked international shipping lanes in the Red Sea, to which both Israel and the United States responded. While a ceasefire was brokered between Israel and Hezbollah in November 2024, in March 2026, hostilities resumed along Israel's northern border with Lebanon, when Hezbollah resumed its attacks as part of a broader regional escalation. In response, Israel resumed military operations against Hezbollah in Lebanon. Further, in April 2024 and October 2024, Iran launched a series of drone and missile strikes against Israel, to which Israel responded. In addition, in response to ongoing Iranian aggression and support of proxy attacks against Israel, on June 13, 2025, Israel conducted a series of preemptive defensive air strikes in Iran targeting Iran's nuclear program and military commanders. While a ceasefire was reached in June 2025 following 12 days of hostilities, on February 28, 2026, the United States and Israel launched coordinated military strikes against Iran, including attacks on strategic military infrastructure and leadership targets, with the stated aim of degrading Iran's capacity to conduct or support hostile operations against them. In response, Iran has fired missiles and drones toward population centers and military installations in Israel, Europe and neighboring countries in the Gulf region, and also launched counter-strikes against U.S. forces and allied bases throughout the Gulf region. Although the United States and Iran have announced ceasefire and de-escalation arrangements from time to time, including a memorandum of understanding entered into on June 17, 2026 that contemplates the termination of military operations on multiple fronts, hostilities have resumed and may continue or escalate. A broader regional conflict involving additional state and non-state actors remains a significant risk. How long and how severe the conflicts in Gaza, Northern Israel, Lebanon, Iran or the broader region last and become is unknown at this time, and any renewed or continued clash among Israel, Hamas, Hezbollah, Iran or other countries or militant groups in the region may escalate in the future into a greater regional conflict. Continued military escalation, retaliatory actions or broader regional involvement may adversely affect economic conditions, disrupt markets and create uncertainty that could negatively impact the Company's business, financial condition and results of operations. Certain of the Company's employees may be obligated to perform military reserve duty, generally until they reach the age of 40 (or older, for officers or other citizens who hold certain positions in the Israeli armed forces reserves), and, in the event of a military conflict, may be called to active duty. In response to increases in terrorist activity and military conflicts in Israel, there have been periods of significant call-ups of military reservists. Military service call-ups that result in the absence of Company personnel for an extended period of time may materially and adversely affect the Company's business, prospects, financial condition and results of operations.
The consolidated condensed interim unaudited financial statements were authorised for issue, in accordance with a resolution of directors, on August 13, 2026.
F-8
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 |
|
Note 2. Material accounting policy information
These consolidated condensed interim unaudited financial statements for the interim half-year reporting period ended June 30, 2026, have been prepared in accordance with International Accounting Standards (“IAS”) 34 “Interim Financial Reporting" as issued by the International Accounting Standards Board (“IASB”).
These consolidated condensed interim unaudited financial statements do not include all the notes of the type normally included in annual financial statements. Accordingly, these consolidated condensed interim unaudited financial statements are to be read in conjunction with the annual report for the year ended December 31, 2025 and any public announcements made by the company during the interim reporting period in accordance with the continuous disclosure requirements of the Australian Corporations Act 2001.
The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, unless otherwise stated.
Liquidity
These
unaudited interim condensed consolidated financial statements have been prepared on the assumption that the Company will continue as
a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities
in the ordinary course of operations. As of June 30, 2026, the Company has not achieved positive cash flow from operations and generated
$
Note 3. Operating segments
The
company operates in
F-9
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 (In US dollars, except for EPS data) |
|
Note 4. Revenue
| June
30, 2026 | June
30, 2025 | |||||||
| $ | $ | |||||||
| Unaudited | ||||||||
| Sales of goods | ||||||||
Revenue from contracts with customers
Revenue from the sale of goods is recognized at the point in time when the customer obtains control of the goods, which is generally at the time of delivery.
Major customers
For the 2026 % of total income | For the 2025 % of total income | |||||||
| A | % | % | ||||||
| B | % | |||||||
| C | % | % | ||||||
Income by geography
| For
the period ended June 30, 2026 | For
the period ended June 30, 2025 | |||||||
| % of total income | % of total income | |||||||
| Israel | % | % | ||||||
| U.S. & Canada | % | % | ||||||
| Rest of the world | % | % | ||||||
Note 5. Lease liabilities
| June
30, 2026 | December 31, 2025 | |||||||
| $ | $ | |||||||
| Unaudited | ||||||||
| Current | ||||||||
| Non-current | ||||||||
| Lease liability | ||||||||
F-10
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 (In US dollars, except for EPS data) |
|
Note 6. Financial liability
| June
30, 2026 | December 31, 2025 | |||||||
| $ | $ | |||||||
| Unaudited | ||||||||
| Warrants at fair value | ||||||||
The Company accounts for warrants issued to investors in conjunction with IFRS 9 “Financial Instruments” accounting standards issued by IASB.
| (a) | On August 25, 2022, the Company completed its U.S. listing on the Nasdaq via the issuance of |
In
addition, on August 25, 2022, in connection with the U.S listing, the Company granted a total of
During the six months period ended June 30, 2026,
The tradable common warrants and representative warrants are referred herein together as “August 2022 Warrants”. The August 2022 Warrants represent financial liabilities at fair value through profit or loss.
The following assumptions were based on observable market conditions that existed at December 31, 2025 and June 30, 2026:
| Assumption | At December 31, 2025 | At June 30, 2026 | ||||||||||||||
| Fair value hierarchy | Level 1 | Level 1 | Level 1 | Level 1 | ||||||||||||
| Exercise price | $ | $ | $ | $ | ||||||||||||
| Warrant price | $ | $ | $ | $ | ||||||||||||
| Fair value per warrant | $ | $ | $ | $ | ||||||||||||
For the half-year ended June 30, 2026, and 2025, the Company
recorded fair value gain, net of $
F-11
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 (In US dollars, except for EPS data) |
|
Note 6. Financial liability (continued)
| (b) | On January 30, 2024, the Company completed a registered direct offering via the issuance of |
In addition, on January 30, 2024, in a concurrent private placement, the Company issued to the investors in the registered direct offering
warrants to purchase up to an aggregate of
In
addition, on January 30, 2024, in connection with the registered direct offering, the Company granted a total
The pre-funded warrants, private placement warrants, and placement agent warrant are referred herein together as “January 2024 Warrants”. The January 2024 Warrants represent financial liabilities at fair value through profit or loss.
As of December 31, 2025, January 2024 Warrants were fully exercised.
For the half-year ended June 30, 2026, and 2025, the Company
recorded fair value gain, net of $ and $
F-12
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 (In US dollars, except for EPS data) |
|
Note 6. Financial liability (continued)
A summary of changes in August 2022 Warrants and January 2024 Warrants issued by the Company during the periods ended June 30, 2025 and 2026, is as follows:
| Fair value measurements using input type | ||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Balance as of December 31, 2024 | $ | $ | $ | |||||||||||||
| Fair value gain recognized in unaudited interim condensed consolidated statement of profit or loss and other comprehensive income | ( | ) | ( | ) | ( | ) | ||||||||||
| Warrant liability as of June 30, 2025 | $ | $ | $ | |||||||||||||
| Balance as of December 31, 2025 | $ | $ | ||||||||||||||
| Transfer upon exercise | ( | ) | ( | ) | ||||||||||||
| Fair value gain recognized in unaudited interim condensed consolidated statement of profit or loss and other comprehensive income | ( | ) | ( | ) | ||||||||||||
| Warrant liability as of June 30, 2026 | $ | $ | ||||||||||||||
Note 7. Equity - issued capital
| Consolidated | ||||||||||||||||
| June
30, 2026 | December 31, 2025 | June
30, 2026 | December 31, 2025 | |||||||||||||
| Shares | Shares | $ | $ | |||||||||||||
| Unaudited | Unaudited | |||||||||||||||
| Ordinary shares - fully paid | ||||||||||||||||
Movements in spare share capital
| Details | Date | Shares | Issue price | $ | ||||||||||
| Balance | ||||||||||||||
| Exercise of common warrants | $ | |||||||||||||
| Exercise of options | $ | |||||||||||||
| Vesting of restricted shares units | ||||||||||||||
| Reclass of vested restricted share units share-based payments | ||||||||||||||
| Reclass of exercised options share-based payments | ||||||||||||||
| Expiry of options | ||||||||||||||
| Balance | ||||||||||||||
Ordinary shares
Ordinary shares entitle the holder to participate in dividends and the proceeds on the winding up of the company in proportion to the number of and amounts paid on the shares held. The fully paid ordinary shares have par value and the company does not have a limited amount of authorised capital.
F-13
|
Mobilicom Limited Notes to the consolidated interim condensed financial statements June 30, 2026 |
|
Note 7. Equity - issued capital (continued)
On a show of hands every member present at a meeting in person or by proxy shall have one vote and upon a poll each share shall have one vote.
Transition from ADS to listed Ordinary share
On August 25, 2022, the Company completed its Nasdaq listing via issuance
of ADSs (American Depository Shares) with
Employee Incentive Options
On February 15, 2025, the board of directors of the Company approved
grant of
The options have an exercise price of $
On August 21, 2025, the Company issued
On December 1, 2025, the Company issued
The options have an exercise price of $
The Company recognized share-based compensation expense of $
| * | Restated to reflect the 1-for-275 reverse split of the ordinary shares. Please see Note 1. |
F-14
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 (In US dollars, except for EPS data) |
|
Note 7. Equity - issued capital (continued)
Restricted Share Units (“RSUs”)
On February 15, 2025, the Company issued
On June 26, 2025, the Company issued
On December 1, 2025, the Company issued
The RSUs have no expiration date.
| * | Restated to reflect the 1-for-275 reverse split of the ordinary shares. Please see Note 1. |
Note 8. Equity - reserves
| June
30, 2026 | December 31, 2025 | |||||||
| $ | $ | |||||||
| Unaudited | ||||||||
| Foreign currency reserve | ( | ) | ||||||
| Re-measurements reserve | ( | ) | ( | ) | ||||
| ( | ) | ( | ) | |||||
Foreign currency reserve
The reserve is used to recognise exchange differences arising from the translation of the condensed interim financial statements of foreign operations to U.S. dollars.
Re-measurement reserve
The reserve is used for remeasurements comprising actuarial gains and losses on the net defined benefit liability.
Movements in reserves
Movements in each class of reserve during the current financial half-year are set out below:
| Re-measurement | Foreign currency | |||||||||||
| reserve | reserve | Total | ||||||||||
| $ | $ | $ | ||||||||||
| Unaudited | Unaudited | Unaudited | ||||||||||
| Consolidated | ||||||||||||
| Balance on December 31, 2025 | ( | ) | ( | ) | ( | ) | ||||||
| Foreign currency translation | ||||||||||||
| Re-measurement of defined benefits plans | ( | ) | ( | ) | ||||||||
| Balance on June 30, 2026 | ( | ) | ( | ) | ||||||||
F-15
|
Mobilicom Limited Notes to the consolidated interim condensed financial statements June 30, 2026 |
|
Note 9. Related party transactions
Receivable from and payable to related parties
The following balances are outstanding at the reporting date in relation to transactions with related parties:
| As
of June 30, | As
of December 31, | |||||||
| 2026 | 2025 | |||||||
| $ | $ | |||||||
| Current receivables: | ||||||||
| Receivables from related parties | ||||||||
| Current payables: | ||||||||
| Payables to related parties | ||||||||
| Non-current payables: | ||||||||
| Payables to related parties | ||||||||
Terms and conditions
All transactions were made on normal commercial terms and conditions and at market rates.
Note 10. Subsequent events
On July 5, 2026, the Company’s board of directors approved the
grant of
Of these options,
vest over a three-year period and
F-16
|
Mobilicom Limited Notes to the unaudited interim condensed consolidated financial statements June 30, 2026 (In US dollars, except for EPS data) |
|
Note 11. Earnings per share
| June
30, 2026 | June
30, 2025 | |||||||
| $ | $ | |||||||
| Unaudited | Unaudited | |||||||
| Net loss | ( | ) | ( | ) | ||||
| Number | Number | |||||||
| Weighted average number of ordinary shares used in calculating basic and diluted earnings/(losses) per share | ** | |||||||
| $ | $ | |||||||
| Basic and diluted earnings/(losses) per share | ( | ) | )** |
| * | |
| ** |
The rights to options held by option holders have not been included in the weighted average number of ordinary shares for the purposes of calculating diluted EPS as they do not meet the requirements for inclusion under IASB 133 “Earnings per Share”. The rights to options are non-dilutive as the consolidated entity is loss generating.
F-17
Exhibit 99.2
MANAGEMENT’S
DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
You should read the following selected financial data and discussion of the Company’s operating and financial condition and prospects in conjunction with the financial statements and the notes thereto included elsewhere in this 6-K and the Company’s Annual Report on Form 20-F for the year ended December 31, 2025, which was filed with the Securities and Exchange Commission, or the SEC, on March 23, 2026, or the Annual Report. The Company’s financial statements are prepared in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board and reported in U.S. dollars. The Company maintains its accounting books and records in U.S. dollars and its functional currency is the U.S. dollar. Certain amounts presented herein may not sum due to rounding. Unless the context requires otherwise, references in this report to “Mobilicom,” the “Company,” “we,” “us” and “our” refer to Mobilicom Limited, an Australian corporation, and to Mobilicom Ltd., the Company’s Israeli subsidiary. “$,” “US$,” “U.S. dollars” and “USD” mean United States dollars, “AUD$” or “AUD” means Australian dollars and “NIS” means New Israeli Shekel.
Cautionary Statement Regarding Forward-Looking Statements
Certain information included herein may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Forward-looking statements are often characterized by the use of forward-looking terminology such as “may,” “will,” “expect,” “anticipate,” “estimate,” “continue,” “believe,” “should,” “intend,” “project” or other similar words, but are not the only way these statements are identified. These forward-looking statements may include, but are not limited to, statements relating to the Company’s objectives, plans and strategies, statements that contain projections of results of operations or of financial condition, expected capital needs and expenses, statements relating to the research, development, completion and use of the Company’s products, and all statements (other than statements of historical facts) that address activities, events or developments that the Company intends, expects, projects, believes or anticipates will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. The Company has based these forward-looking statements on assumptions and assessments made by the Company’s management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate.
Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things:
| ● | our ability to implement our growth strategies; | |
| ● | our competitive advantages; | |
| ● | the development of new products and services; | |
| ● | our ability to obtain and maintain financing on acceptable terms; | |
| ● | the impact of competition; | |
| ● | changes in laws, rules and regulations; | |
| ● | our ability to maintain our software licenses and product certifications; | |
| ● | general market, political, and economic conditions in the countries in which we operate; |
| ● | our ability to maintain good business relationships with our customers, suppliers and other strategic partners; | |
| ● | our ability to protect intellectual property; | |
| ● | our ability to retain key personnel; | |
| ● | the absence of material adverse changes in the industry or global economy; and | |
| ● | those factors referred to under the headings “Risk Factors” and “Operating and Financial Review and Prospects” in our Annual Report, as well as in our Annual Report generally. |
The foregoing list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s Annual Report and the other risk factors discussed from time to time by the Company in reports filed or furnished to the SEC.
Except as otherwise required by law, the Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
General
The following discussion and analysis of the Company’s financial condition and results of operations should be read in conjunction with its consolidated financial statements and the related notes included in the Annual Report as well as the Company’s unaudited condensed consolidated financial statements and the related notes thereto for the six months ended June 30, 2026, included elsewhere in this Report on Form 6-K. The discussion below contains forward-looking statements that are based upon the Company’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to inaccurate assumptions and known or unknown risks and uncertainties.
On December 8, 2025, we effected a reverse share split of our issued and outstanding ordinary shares at a ratio of 1-for-275 (the “Reverse Split”). Concurrently with the Reverse Split, we effected a corresponding change in the ratio of ordinary shares represented by each of our American Depositary Shares (“ADSs”), such that the ratio changed from one ADS representing 275 ordinary shares to one ADS representing one ordinary share. Concurrently, our ADSs were mandatorily cancelled and exchanged for ordinary shares on a one-for-one basis (the “Mandatory Exchange”), and our ordinary shares, which had been approved for listing and trading on the Nasdaq Capital Market, commenced trading at the market open on December 8, 2025. All references in this Report on Form 6-K to our share capital, including the number of ordinary shares outstanding and per-share data for periods prior to the effective date of the Reverse Split and the Mandatory Exchange, have been retroactively adjusted to give effect to the Reverse Split and the Mandatory Exchange.
Overview
We are an end-to-end provider of cybersecurity and robust solutions for drones, robotics and autonomous platforms. As a high-tech company we design, develop, and deliver robust solutions focused primarily on targeting global drone, robotics and autonomous system manufacturers. We hold patented technology and unique know-how for Mobile Mesh networking solution. We have a large, field-proven portfolio of commercialized products used in a variety of applications. We are growing a global customer base with sales to high profile customers including corporates, governments, and military departments. We believe that our competitive advantages include outstanding security capabilities and performance in harsh environmental conditions. Our large solution portfolio is being deployed worldwide, as we derive revenue from hardware, software sales and licensing fees.
Operating Results
Comparison of the periods ended June 30, 2026 and 2025
Revenue and Other income
| For the six months ended June 30, | ||||||||||||
| Revenue | 2026 | 2025 | Increase/Decrease | |||||||||
| Revenue | $ | 1,725,624 | $ | 1,450,561 | $ | 275,063 | ||||||
| Other income: | ||||||||||||
| Research and development grants | - | 101,493 | (101,493 | ) | ||||||||
| Interest income | 225,441 | 108,054 | 117,387 | |||||||||
| Fair value gains from financial liability | 2,808,584 | 2,517,148 | 291,436 | |||||||||
| Total Revenue and Other income | $ | 4,759,649 | $ | 4,177,256 | $ | 582,393 | ||||||
2
Revenue
Revenues for the six months period ended June 30, 2026, were $1,725,624 compared to $1,450,561 for the six months period ended June 30, 2025, an increase of $275,063 or 19%. The increase was mainly attributed to shifting to monthly deliveries cadence with Tier-1 customer under U.S. DoW program of record. Confirmed orders backlog totaled $951,894 as of June 30, 2026, providing visibility into expected deliveries and invoicing in the second half of the year, as well as additional sales in the second half of the year.
Research and development grants
Grants received under research and development supported programs for the period ended June 30, 2026, were $nil, compared to $101,493 for the period ended June 30, 2025, a decrease of $101,493 or 100%.
Interest income
Interest income from short-term bank deposits, for the period ended June 30, 2026, was $225,441, compared to $108,054 for the period ended June 30, 2025, an increase of $117,387 or 109%. Short-term deposits are attributed to the outstanding cash balances, within each of the comparable periods, mainly from proceeds received from capital raise and warrants and options exercises.
Fair value gains from financial liability
Fair value gains from financial liability were $2,808,584 for the period ended June 30, 2026, compared to $2,517,148 for the period ended June 30, 2025, an increase of $291,436 or 12%. Fair value gains from financial liability are attributed to revaluation gain between measured periods related with the warrants issued in the Company’s August 2022 initial public offering, and for the period ending June 30, 2025 also warrants issued under our January 2024 registered direct offering.
Cost of Goods Sold and Gross Profit
| For the six months ended June 30, | ||||||||||||
| 2026 | 2025 | Increase/Decrease | ||||||||||
| Revenue | $ | 1,725,624 | $ | 1,450,561 | $ | 275,063 | ||||||
| Cost of Goods Sold | (835,755 | ) | (653,381 | ) | (182,374 | ) | ||||||
| Gross Profit | $ | 889,869 | $ | 797,180 | $ | 92,689 | ||||||
The Company gross margins for the period ended June 30, 2026, was 52% compared to 55% for the period ended June 30, 2025. The gross margins relate to our products being high-end IP based technology (beyond the hardware value) and continued effective planning and monitoring for components acquisitions. The cost of goods sold increase was mainly due to workforce optimization to support the expected growth in manufacturing and deliveries to support our Tier 1 scaled production needs.
Expenses
| For the six months ended June 30, | ||||||||||||
| 2026 | 2025 | Increase/Decrease | ||||||||||
| Expenses: | ||||||||||||
| Sales and Marketing | $ | 2,706,753 | $ | 903,353 | $ | 1,803,400 | ||||||
| Research and Development | 3,815,327 | 1,376,180 | 2,439,147 | |||||||||
| General and Administrative | 2,787,075 | 1,150,596 | 1,636,479 | |||||||||
| Foreign exchange losses | 1,291,134 | 49,114 | 1,242,020 | |||||||||
| Finance costs | 21,076 | 90,258 | (69,182 | ) | ||||||||
| Total expenses | $ | 10,621,365 | $ | 3,569,501 | $ | 7,051,864 | ||||||
3
Sales and Marketing expenses.
Sales and marketing expenses were $2,706,753 for the period ended June 30, 2026, compared to $903,353 for the period ended June 30, 2025, an increase of $1,803,400 or 200%. The increase is primarily due to costs related to employees’ stock-based compensation and continued investment in sales and marketing operations to support growth under U.S. and EU defense and commercial markets.
Research and Development expenses.
Research and development expenses were $3,815,327 for the period ended June 30, 2026, compared to $1,376,180 for the period ended June 30, 2025, an increase of $2,439,147 or 177%. The increase is mainly attributed to costs related to employees’ stock-based compensation, and continued investment in development of additional enhanced datalinks products to support growing market needs.
General and Administrative expenses.
General and administrative expenses were $2,787,075 for the period ended June 30, 2026, compared to $1,150,596 for the period ended June 30, 2025, an increase of $1,636,479 or 142%. The increase is primarily due to costs related to employees’ stock-based compensation and other general and administrative operations costs.
Foreign Exchange losses
Foreign exchange losses were $1,291,134 for the period ended June 30, 2026, compared to $49,114 for the period ended June 30, 2025, an increase of $1,242,020 or 2,529%. Foreign exchange losses are mainly due to the effect of changes in currency exchange rates between the US$, NIS and the AUD
Financial costs.
Financial costs were $21,076 for the period ended June 30, 2026, compared to $90,258 for the period ended June 30, 2025, a decrease of $69,182 or 77%. Financial costs for the periods ended June 30, 2026 and 2025, are primarily related to interest paid under the Company’s lease agreements.
Critical Accounting Judgements, Estimates and Assumptions
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the financial statements. Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue, and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management believes to be reasonable under the circumstances. The resulting accounting judgements and estimates will seldom equal the related actual results. A comprehensive discussion of the Company’s critical accounting judgments, estimates and assumptions is included in “Item 5. Operating and Financial Review and Prospects – Management’s Discussion and Analysis of Financial Condition and Results of Operations” section in the Annual Report, as well as the Company’s unaudited condensed consolidated financial statements and the related notes thereto for the six months ended June 30, 2026, included elsewhere in this Report Form 6-K.
Liquidity and Capital Resources
As of June 30, 2026, the Company has not achieved positive cash flow from operations and generated $60.8 million of accumulated losses since inception.
The Company has financed its operations to date primarily from its February 2025 at-the-market facility sales on Nasdaq, its January 2024 registered direct offering on Nasdaq, its August 2022 initial public offering on Nasdaq, public offerings on the ASX, and sales of the Company’s products.
4
As of June 30, 2026, the Company had cash and cash equivalents and restricted cash of $15.2* million. Additionally, the Company also recognized a total of $1,804,198 as receivables. The Company estimates that it has adequate financial resources for at least 12 months from the date of this report, based on its current cash and receivables balances and its current ongoing operations. The unaudited interim condensed consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations.
In addition, its operating plans may change as a result of many factors that may currently be unknown to it, and it may need to seek additional funds in the future. the Company’s future capital requirements will depend on many factors, including:
| ● | the progress and costs of its research and development activities; |
| ● | the costs of manufacturing its products; |
| ● | the costs of filing, prosecuting, enforcing and defending patent claims and other intellectual property rights; |
| ● | the costs of its expanding sales and marketing activities, as well as the potential costs of contracting with third parties to provide marketing and distribution services for it or for building such capacities internally; and |
| ● | the magnitude of its general and administrative expenses. |
Until the Company can generate significant recurring revenues, profit and cash flow provided by operating activity it expects to satisfy future cash needs through debt or equity financing as well as governmental grants. In the event that it requires additional financing, it may not be able to raise such financing on terms acceptable to it or at all. If the Company is unable to raise additional capital or generate cash flows necessary to expand its operations and invest in continued innovation, the Company may not be able to compete successfully, which would harm its business, results of operations, and financial condition.
| * | Cash and equivalents ( as adjusted) were $15.9M reflecting add back an options-related capital gains tax payment made on behalf of grantees (reimbursed July 2026) |
Cash Flows
| For the six months ended June 30, | ||||||||
| 2026 | 2025 | |||||||
| Net cash used in operating activities | $ | (5,152,370 | )** | $ | (1,571,698 | ) | ||
| Net cash used in investing activities | (28,312 | ) | (13,565 | ) | ||||
| Net cash provided by / (used in) financing activities | 1,263,708 | (164,193 | ) | |||||
| Increase (decrease) in cash and cash equivalents and restricted cash | (3,916,974 | ) | (1,749,456 | ) | ||||
| Cash and cash equivalents and restricted cash, at the beginning of the period | 19,112,333 | 8,686,390 | ||||||
| Cash and cash equivalents and restricted cash, at the end of the period | 15,195,359 | 6,936,934 | ||||||
Net cash used in operating activities
For the periods ended June 30, 2026, and 2025, net cash used in operating activities was $5,152,370 and $1,571,698, respectively. The change between the periods is primarily due to a decrease in receipts from customers and an increase in payments to suppliers and employees. Payments to suppliers and employees for the period ended June 30, 2026 include taxable capital gain tax on vested RSUs and exercised options, paid by the Company as intermediator on behalf of the grantees, which is not part of the regular course of operating activities.
| ** | Net cash used in operating activities (as adjusted) was $3.5 million reflecting exclusion of $1.61 of RSU/options capital gains tax payments, outside the regular course of operating activities. |
5
Net cash used in investing activities
For the periods ended June 30, 2026, and 2025, the net cash used in investing activities was $28,312 and $13,565, respectively.
Net cash provided by financing activities
For the period ended June 30, 2026, the net cash provided by financing activities was $1,263,708. Net cash provided by is primarily attributed to proceeds from exercises of warrants and options, less repayment of lease liabilities. For the period ended June 30, 2025, the net cash used for financing activities was $164,193. Net cash used for is primarily attributed to repayment of lease liabilities.
Subsequent events
On July 5, 2026, the Company’s board of directors approved the grant of 650,660 unlisted options and 1,030,000 restricted share units (“RSUs”) to employees and directors of the Company. The options have an exercise price of $4.99 and expire on July 5, 2031. Of these options, 520,160 options vest over 3 years, and 130,500 options vest over 4 years. The RSUs don’t carry an exercise price nor expiry date. As of the date hereof, the Company has not yet entered into option or RSU agreements with the applicable grantees.
Risks Factors
Any investment in our business involves a high degree of risk. Before making an investment decision, you should carefully consider the information we include in this Report on Form 6-K, including our unaudited condensed consolidated financial statements and accompanying notes, and the additional information in the other reports we file with the Securities and Exchange Commission along with the risks described in our Annual Report on Form 20-F filed with the SEC on March 23, 2026. These risks may result in material harm to our business and our financial condition and results of operations. In this event, the market price of our ordinary shares may decline and you could lose part or all of your investment. We have described below those risks that reflect substantive changes from, or additions to, the risks described in our Annual Report.
Political, economic and military instability in Israel may impede our ability to operate and harm our financial results.
Although we are an Australian company, our fully owned subsidiary and main operational, including our principal research and development facilities and sole manufacturing facility, and certain of our key employees, officers and directors are located in Israel. Accordingly, political, geopolitical, economic and military conditions in Israel may directly affect our business. Since the establishment of the State of Israel in 1948, a number of armed conflicts have taken place between Israel and its neighboring Arab countries, Hamas (an Islamist terrorist militia and political group that controls the Gaza strip), Hezbollah (an Islamist terrorist militia and political group based in Lebanon) and other terrorist organizations active in the region. These conflicts have involved missile strikes, hostile infiltrations and terrorism against civilian targets in various parts of Israel, which have negatively affected business conditions in Israel. Any hostilities involving Israel or the interruption or curtailment of trade between Israel and its trading partners could negatively affect business conditions in Israel in general and our business in particular, and adversely affect our product development, operations and results of operations. Ongoing and revived hostilities or other Israeli political or economic factors, such as, an interruption of operations at the Tel Aviv airport or the nautical routes, could prevent or delay shipments of our components or products.
6
In recent years, Israel has been engaged in sporadic armed conflicts with Hamas, an Islamist terrorist group that controls the Gaza Strip, with Hezbollah, an Islamist terrorist group that controls large portions of southern Lebanon, and with Iranian-backed military forces in Syria. In addition, Iran has threatened to attack Israel and may be developing nuclear weapons. Iran is also believed to have a strong influence among extremist groups in the region, such as Hamas in Gaza, Hezbollah in Lebanon, the Houthi movement in Yemen and various rebel militia groups in Syria and Iraq. On October 7, 2023, Hamas launched a series of attacks on civilian and military targets in Southern Israel and Central Israel, to which the Israel Defense Forces responded. On October 9, 2025, Israel, Hamas, the United States and other countries in the region agreed to a framework for a ceasefire in Gaza between Israel and Hamas.
In addition, both Hezbollah and the Houthi movement attacked military and civilian targets in Israel, to which Israel responded, including through increased air and ground operations in Lebanon. In addition, the Houthi movement attacked international shipping lanes in the Red Sea, to which both Israel and the United States responded. While a ceasefire was brokered between Israel and Hezbollah in November 2024, in March 2026, hostilities resumed along Israel’s northern border with Lebanon, when Hezbollah resumed its attacks as part of a broader regional escalation. In response, Israel resumed military operations against Hezbollah in Lebanon.
Further, in April 2024 and October 2024, Iran launched a series of drone and missile strikes against Israel, to which Israel responded. In addition, in response to ongoing Iranian aggression and support of proxy attacks against Israel, on June 13, 2025, Israel conducted a series of preemptive defensive air strikes in Iran targeting Iran’s nuclear program and military commanders. While a ceasefire was reached in June 2025 following 12 days of hostilities, on February 28, 2026, the United States and Israel launched coordinated military strikes against Iran, including attacks on strategic military infrastructure and leadership targets, with the stated aim of degrading Iran’s capacity to conduct or support hostile operations against them. In response, Iran has fired missiles and drones toward population centers and military installations in Israel, Europe and neighboring countries in the Gulf region, and also launched counter-strikes against U.S. forces and allied bases throughout the Gulf region. Although the United States and Iran have announced ceasefire and de-escalation arrangements from time to time, including a memorandum of understanding entered into on June 17, 2026 that contemplates the termination of military operations on multiple fronts, hostilities have resumed and may continue or escalate. A broader regional conflict involving additional state and non-state actors remains a significant risk. How long and how severe the conflicts in Gaza, Northern Israel, Lebanon, Iran or the broader region last and become is unknown at this time and any renewed or continued clash among Israel, Hamas, Hezbollah, Iran or other countries or militant groups in the region may escalate in the future into a greater regional conflict. Continued military escalation, retaliatory actions, or broader regional involvement may adversely affect economic conditions, disrupt markets, and create uncertainty that could negatively impact our business, financial condition and results of operations.
Certain of our employees may be obligated to perform military reserve duty generally until they reach the age of 40 (or older, for officers or other citizens who hold certain positions in the Israeli armed forces reserves) and, in the event of a military conflict, may be called to active duty. In response to increases in terrorist activity and military conflicts in Israel, there have been periods of significant call-ups of military reservists. Military service call ups that result in absences of personnel from us for an extended period of time may materially and adversely affect our business, prospects, financial condition and results of operations.
Since the war broke out on October 7, 2023, our operations have not been adversely affected by this situation, and we have not experienced disruptions to our business operations. As such, our product research and development and business development activities remain on track. However, the intensity and duration of Israel’s current war against Hamas, Hezbollah, the Houthis, and Iran, and is difficult to predict at this stage, as are such war’s economic implications on our business and operations and on Israel’s economy in general. If the ceasefire declared collapse or a new war commences or hostilities expand to other fronts, our operations may be adversely affected.
Any armed conflicts, terrorist activities or political instability in the region could adversely affect business conditions, could harm our results of operations and the market price of our Ordinary Shares, and could make it more difficult for us to raise capital. Parties with whom we do business may sometimes decline to travel to Israel during periods of heightened unrest or tension, forcing us to make alternative arrangements when necessary, in order to meet our business partners face to face. Several countries, principally in the Middle East, still restrict doing business with Israel and Israeli companies, and additional countries may impose restrictions on doing business with Israel and Israeli companies if hostilities in Israel or political instability in the region continues or increases. Similarly, Israeli companies are limited in conducting business with entities from several countries. For instance, in 2008, the Israeli legislature passed a law forbidding any investments in entities that transact business with Iran.
Our insurance does not cover losses that may occur as a result of events associated with war and terrorism. Although the Israeli government currently covers the reinstatement value of direct damages that are caused by terrorist attacks or acts of war, we cannot assure you that this government coverage will be maintained or that it will sufficiently cover our potential damages. Any losses or damages incurred by us could have a material adverse effect on our business. Any armed conflicts or political instability in the region would likely negatively affect business conditions and could harm our results of operations.
Finally, political conditions within Israel may affect our operations. Israel has held five general elections between 2019 and 2022, and prior to October 2023, the Israeli government pursued extensive changes to Israel’s judicial system, which sparked extensive political debate and unrest. Actual or perceived political instability in Israel or any negative changes in the political environment, may individually or in the aggregate adversely affect the Israeli economy and, in turn, our business, financial condition, results of operations and growth prospects.
7
Exhibit 99.3
Mobilicom Reports Financial and Operational Results for the Six Months Ended June 30, 2026
$1.7 Million First-Half Revenue, Up 19% Year Over Year
$1.2 Million Second-Quarter Revenue as U.S. DoW POR Deliveries Moved to a Monthly Cadence
New Products Launch Followed by Design Wins and Initial Orders for MultiBand & Tactical Expanding SkyHopper Secure Datalink Product Family
PALO ALTO, Calif., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Mobilicom Limited (Nasdaq: MOB, MOBBW) (“Mobilicom” or the “Company”), a provider of cybersecurity and robust solutions for drones and robotics, today announced financial results for the six months ended June 30, 2026, as well as recent business and operational highlights. The Company’s management will host a webcast at 4:30 p.m. ET today. Details of the webcast are provided below.
“The first half of 2026 marked an inflection in our transition from design wins to production revenue,” said Oren Elkayam, CEO and Co-Founder of Mobilicom. “Revenue increase driven principally by our Tier-1 customer’s U.S. DoW Program of Record, where we have moved from initial deployment orders into a monthly delivery cadence. That is the difference between episodic purchase orders and being embedded in a qualified production line.”
“Two forces are working in our favor. Western forces are institutionalizing small drones and loitering munitions as standard and repeat-purchase equipment, while our platform-agnostic position lets us participate without betting on any single platform. Meanwhile regulation has become a competitive advantage: our cybersecurity, hardware and software solutions now fall within the FCC’s definition of a UAS critical component, and Trusted status is granted only to companies with DoW certifications and a clear and retained U.S. onshoring plan, which is what our U.S. manufacturing build-out aims to deliver. That is a meaningful barrier to entry for new players, and it makes us a design-in-ready alternative just as platform manufacturers re-source.”
Elkayam concluded, “We also broadened our footprint beyond the U.S., with design wins for a next-generation loitering munition platform with a Tier-1 Israeli manufacturer, and AI-enabled autonomous weapon system and — both pairing our newly launched SkyHopper MultiBand and Tactical hardware with our ICE and OS3 software, raising our content per platform. The foundations we put in place this half — a production delivery cadence, a U.S. manufacturing build-out, a widening base of design wins, and a debt-free balance sheet company with $15.9 million in cash (adjusted) — are the platform for our next phase of scale.”
Recent Operational & Strategic Highlights
| ● | Secured design win and initial order with Tier-1 Israeli defense customer for new loitering munitions platform, expanding into a new platform with a path toward future mass production and global deployment. The win incorporates the newly launched SkyHopper MultiBand and Tactical together with ICE electronic warfare resistance software. |
| ● | Secured design win for AI-enabled autonomous weapon systems with an Israeli defense technology company, covering four Mobilicom products — ICE and OS3 software, SkyHopper Multiband datalink and 10-inch Mobile Ground Control Stations — selected under a single design win, reflecting a significantly higher value proposition per platform and demonstrating Mobilicom’s ability to deliver integrated, end-to-end solutions. |
| ● | Tier-1 partner has progressed within the U.S. Army’s Low Altitude Stalking and Strike Ordnance (LASSO) program, embedding our technology and reinforcing Mobilicom’s position within next-generation U.S. defense drone platforms and supporting potential long-term demand. |
| ● | Announced $2.2 million in new orders tied to the OPF-L Program with a large U.S.-based manufacturer of small-sized drones for loitering munitions platforms. Deliveries are proceeding at a monthly cadence. |
| ● | Announced new design wins with two leading U.S. Tier-1 defense drone manufacturers for small-sized Intelligence, Surveillance and Reconnaissance (“ISR”) drone platforms incorporating tailored, cybersecure SkyHopper datalink solutions and ICE electronic warfare resistance & cybersecurity suite. |
| ● | Launched SkyHopper MultiBand and SkyHopper Tactical, each developed to address the direct requirements of defense forces in contested and GPS-denied environments, expanding the secure communications hardware portfolio. Both products generated design wins and initial orders within the same half — the fastest launch-to-design-win conversion the Company has achieved. |
| ● | Mobilicom’s full suite of drone and robotics solutions was included in the FCC’s first batch of Trusted Drones, as determined by the U.S. DoW, making Mobilicom one of only four companies granted exemption status and highlighting its compliance with stringent U.S. security standards. The Company’s onshoring plan, approved under the FCC’s Conditional Approval process, remains on track, supported by its U.S. manufacturing build-out. |
2
Financial Highlights for the Six Months Ended June 30, 2026
| ● | Second quarter revenue of $1.2 million brought first half revenue to $1.7 million, up 19% over the first half of 2025 ($1.5 million). Revenue driven by production and delivery against Tier-1 scaled deployments under the U.S. Department of War Program of Record. |
| ● | Confirmed order backlog was $1.0 million as of June 30, 2026, compared to $1.6 million as of June 30, 2025, in addition to new orders expected to be received and fulfilled in the second half of 2026. |
| ● | Gross margin was 52%, reflecting support for higher-volume production orders while continuing to capture the value of its IP-based technology. |
| ● | Operating cash burn averaged $859,000 per month during the first half of 2026, or $591,000 per month on an as adjusted basis excluding $1.61 million of vested RSU and options-related tax payments outside the ordinary course of operating activities, reflecting a shift toward funding operational readiness and growth initiatives. |
| ● | Cash and cash equivalents totaled $15.2 million as of June 30, 2026, or $15.9 million on an as adjusted basis after giving effect to the reimbursement of an options-related tax payment made on behalf of grantees and received in July 2026, providing the Company with substantial financial flexibility to support its growth initiatives. |
| ● | Clean, debt-free balance sheet with no loans, credit facilities, or convertible debt. |
| ● | Adjusted EBITDA for the first half of 2026 was $(2.9) million, compared to $(1.9) million for the first half of 2025, consistent with the adjusted cash burn. |
Conference Call & Webcast Info:
Thursday, August 13, 2026, at 4:30 pm ET
US Dial-in:
1-877-451-6152 US Toll Free
1-201-389-0879 US Toll
Conference ID: 13761974
Please register in advance: HERE
A recording of the webcast will be available in the “EARNINGS UPDATE” section on ir.mobilicom.com for those unable to attend the live event.
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About Mobilicom
Mobilicom is a leading provider of cybersecure robust solutions for the rapidly growing defense and commercial drones and robotics market. Mobilicom’s large portfolio of field-proven technologies includes cybersecurity, software, hardware, and professional services that power, connect, guide, and secure drones and robotics. Through deployments across the globe with over 50 customers, including the world’s largest drone manufacturers, Mobilicom’s end-to-end solutions are used in mission-critical functions.
For investors, please use https://ir.mobilicom.com/
For company, please use www.mobilicom.com
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. For example, the Company is using forward-looking statements when it discusses expected deliveries and fulfillment of orders, increasing production-scale demand, the potential for additional orders under programs of record, the development of relationships with Tier-1 defense partners, and the Company’s ability to support growth initiatives and respond to evolving market opportunities. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Mobilicom Limited’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the Company’s filings with the Securities and Exchange Commission.
Forward-looking statements contained in this announcement are made as of this date, and Mobilicom Limited undertakes no duty to update such information except as required under applicable law.
For more information on Mobilicom, please contact:
Chris Donovan
Head of IR
Chris.Donovan@mobilicom.com
Use of Non-IFRS Financial Information
In addition to disclosing financial results calculated in accordance with the International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board, this release also contains non-IFRS financial measures, which Mobilicom believes provide useful supplemental information regarding the operating and financial performance of its business.
Management believes the non-IFRS financial measures provided assist investors in understanding and assessing Mobilicom’s operating performance and prospects for the future by providing additional information regarding the Company’s results from period to period. Management uses these non-IFRS financial measures as and one factor in evaluating the Company’s performance and making strategic and operational decisions. The presentation of these non-IFRS financial measures is not intended to be considered in isolation from, or as a substitute for, or superior to, operating loss and or net income (loss) or any other performance measures derived in accordance with IFRS or as an alternative to net cash flow from operating activities or any other measures of our cash flows or liquidity prepared in accordance with IFRS.
Adjusted EBITDA is a non-IFRS financial measure defined as net loss before financial income (expense), net, income taxes, depreciation and amortization, and share based compensation expenses. A reconciliation of Adjusted EBITDA to the most directly comparable IFRS financial measure is included below.
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Mobilicom Limited
Unaudited Interim Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income
| For the six months ended, June 30, | For the six months ended, June 30, | |||||||
| 2026 | 2025 | |||||||
| $ | $ | |||||||
| Revenue | $ | 1,725,624 | $ | 1,450,561 | ||||
| Cost of sales | 835,755 | 653,381 | ||||||
| Gross margin | 889,869 | 797,180 | ||||||
| Operating Expenses | ||||||||
| Selling and marketing expenses | 2,706,753 | 903,353 | ||||||
| Research and development, net | 3,815,327 | 1,274,687 | ||||||
| General and administration expenses | 2,787,075 | 1,150,596 | ||||||
| Total operating expenses | 9,309,155 | 3,328,636 | ||||||
| Operating loss | (8,419,286 | ) | (2,531,456 | ) | ||||
| Financial income, net | 1,721,815 | 2,485,830 | ||||||
| Loss before income tax expenses | $ | (6,697,471 | ) | $ | (45,626 | ) | ||
| Tax income (expenses) | 5,000 | (23,120 | ) | |||||
| Net loss | $ | (6,692,471 | ) | $ | (68,746 | ) | ||
| Loss per share - basic and diluted | (0.53 | ) | (* | ) | ||||
| Weighted average shares outstanding - basic and diluted | 12,668,694 | 7,526,213 | ||||||
| * | Less than $0.01 cents |
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Mobilicom Limited
Reconciliation of Adjusted EBITDA to Net Loss after income tax expenses
| For the six months ended, June 30, | For the six months ended, June 30, | |||||||
| 2026 | 2025 | |||||||
| $ | $ | |||||||
| Loss after income tax expense | $ | (6,692,471 | ) | $ | (68,746 | ) | ||
| Less: Financial income, net | (1,721,815 | ) | (2,485,830 | ) | ||||
| Depreciation and amortizations | 134,301 | 124,393 | ||||||
| Share-based compensation expense | 5,372,632 | 541,197 | ||||||
| Income tax expenses (benefit) | (5,000 | ) | 23,120 | |||||
| Adjusted EBITDA | $ | (2,912,353 | ) | $ | (1,865,866 | ) | ||
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Mobilicom Limited
Unaudited Interim Condensed Consolidated Statements of Financial Position
| June 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| $ | $ | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 15,080,471 | $ | 19,003,784 | ||||
| Restricted cash | 114,888 | 108,549 | ||||||
| Trade and other receivables, net | 1,804,198 | 348,050 | ||||||
| Inventories, net | 1,036,322 | 740,045 | ||||||
| Total current assets | 18,035,879 | 20,200,428 | ||||||
| Non-current assets | ||||||||
| Property, plant and equipment, net | 119,524 | 99,581 | ||||||
| Right-of-use assets | 419,715 | 435,497 | ||||||
| Total non-current assets | 539,239 | 535,078 | ||||||
| Total assets | $ | 18,575,118 | $ | 20,735,506 | ||||
| Liabilities | ||||||||
| Current liabilities | ||||||||
| Trade and other payables | $ | 1,435,490 | $ | 2,159,596 | ||||
| Lease liabilities | 239,888 | 212,851 | ||||||
| Total current liabilities | 1,675,378 | 2,372,447 | ||||||
| Non-current liabilities | ||||||||
| Lease liabilities | 187,156 | 224,297 | ||||||
| Employee benefits | 246,716 | 234,133 | ||||||
| Financial liability | 5,042,658 | 9,079,707 | ||||||
| Governmental liabilities on grants received | 1,567 | 1,424 | ||||||
| Total non-current liabilities | 5,478,097 | 9,539,561 | ||||||
| Total liabilities | 7,153,475 | 11,912,008 | ||||||
| Net assets | $ | 11,421,643 | $ | 8,823,498 | ||||
| Equity | ||||||||
| Issued capital | 64,450,857 | 60,145,100 | ||||||
| Reserves | 7,779,609 | 2,794,750 | ||||||
| Accumulated losses | (60,808,823 | ) | (54,116,352 | ) | ||||
| Total equity | $ | 11,421,643 | $ | 8,823,498 | ||||
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