Mobia Medical (MOBI) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $13.5 million, up 102% year-over-year, driven by strong adoption of the Vivistim System for chronic ischemic stroke recovery and increased IPG unit sales.

• Gross margin improved to 83.2% from 82.3% in Q2 2025, reflecting efficient cost management and stable pricing.

• Net loss widened to $21.0 million ($1.10 per share) in Q2 2026, compared to $10.5 million ($12.44 per share) in Q2 2025, due to increased operating expenses, commercial expansion, R&D, and share count post-IPO.

• Completed IPO in May 2026, raising $134 million in net proceeds, converting all preferred stock and convertible notes, and accelerating commercialization and growth initiatives.

• Published two-year follow-up data in Neurology and VNS-REHAB, confirming durable clinical benefits and patient outcomes.

Financial highlights

• Q2 2026 revenue: $13.5 million (up 102% year-over-year); six months: $25.6 million (up 107.4% year-over-year).

• Gross margin: 83.2% for Q2 2026 (vs. 82.3% prior year); 82.8% for six months (vs. 82.2%).

• Net loss: $21.0 million ($1.10 per share) for Q2 2026; $38.8 million for six months.

• Cash and cash equivalents totaled $177.1 million as of June 30, 2026; accumulated deficit: $196.6 million.

• Operating expenses for Q2 2026: $29.2 million (up 83% year-over-year), mainly from higher personnel, commissions, and development costs.

Outlook and guidance

• Full-year 2026 revenue guidance of $54–$56 million, representing 69–75% growth over 2025.

• Gross margin expected to remain in the low 80s for the foreseeable future.

• Management expects continued operating losses and negative cash flows as investments in commercial and R&D activities persist.

• Current cash position, bolstered by IPO proceeds, is expected to fund operations for at least 12 months.

• Commercial execution and a durable patient funnel underpin confidence in guidance.