Mia Dynamics Motors (MIA) H1 2026 earnings summary

Executive summary

• Operates in micro-mobility, focusing on electric four-wheel vehicles and related tech, with expansion into robotics and electric motorcycles.

• Revenue for H1 2026 reached ₪18.6M, with continued losses due to high R&D, marketing, and fixed production costs.

• Significant dependence on key distributors in the US, Israel, and Italy, with efforts to diversify sales channels.

• Ongoing product development, including new models and pilot projects, and strategic partnerships (notably with Elta Systems).

Financial highlights

• H1 2026 revenue: ₪18.6M, up from ₪2.7M in H1 2025.

• Gross profit: ₪358K (H1 2026), down from ₪2.7M (H1 2025), reflecting margin pressure.

• Net loss: ₪10.3M for H1 2026, compared to ₪4.7M loss in H1 2025.

• Cash and equivalents at June 30, 2026: ₪28.7M.

• Convertible bonds outstanding: ₪35M, with no covenant breaches.

Outlook and guidance

• Management expects continued negative cash flow from operations but asserts no liquidity issues due to cash reserves and expected receivables.

• Anticipates further product deliveries and expansion in both private and institutional markets.

• Ongoing regulatory and market uncertainties, especially in international markets.