Micromobility.com (MCOM) Q1 2025 earnings summary

Executive summary

• Shifted core business from micromobility and media to IT software services, focusing on a related-party agreement with Everli S.p.A. for software development.

• Discontinued and sold mobility and media operations in the US and Europe due to high costs and cash burn; results now classified as discontinued operations.

• Company remains in a challenging financial position, with recurring losses and negative cash flows, and substantial doubt about its ability to continue as a going concern.

Financial highlights

• Revenue from continuing operations rose to $477K for Q1 2025, up 276% year-over-year, driven by IT services to Everli.

• Net loss from continuing operations was $378K, a significant improvement from $3.4M loss in Q1 2024.

• Net loss including discontinued operations was $229K, compared to $4.5M loss in Q1 2024.

• General and administrative expenses from continuing operations decreased 71% year-over-year to $352K.

• Cash and cash equivalents at March 31, 2025, were $100K, down from $397K at the start of the year.

Outlook and guidance

• Plans to fund operations through additional debt and equity financing, including a new $25M Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd.

• Management expects ongoing need for external capital and warns of continued going concern risk.