Mobia Medical (MOBI) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 grew 113% year-over-year to $12.1 million, driven by increased adoption of the Vivistim System.

• Net loss widened to $17.7 million from $10.7 million in Q1 2025, reflecting higher operating expenses as the company scaled commercial operations.

• Completed IPO in May 2026, raising $134.5 million in net proceeds and converting all preferred stock and convertible notes to common stock.

Financial highlights

• Gross margin remained strong at 82.3%, up slightly from 82.1% in Q1 2025.

• Operating expenses increased 80% year-over-year to $26.9 million, mainly due to commercial expansion and higher personnel costs.

• Cash and cash equivalents were $55.7 million as of March 31, 2026, prior to IPO proceeds.

• Accumulated deficit reached $175.5 million.

Outlook and guidance

• Cash on hand plus IPO proceeds expected to fund operations for at least 12 months.

• Plans to continue significant investments in commercial expansion, marketing, and R&D.

• Revenue growth expected as market awareness and payor coverage for Vivistim Therapy increase.