NASDAQ: MOBI
Mobia Medical, Inc.CIK 0001489993 · SIC 3841 · Surgical & Medical Instruments
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Mobia Medical doubles Q1 revenue to $12.1M but discloses material weakness in EPS controls
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Mobia Medical completes IPO, implements staggered board and anti-takeover provisions
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Mobia Medical files S-1/A to raise $150M in IPO at $15.00/share, with $134.5M net proceeds
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Latest financial statements
From 10-Q filed Aug 11, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Statements of Operations (Unaudited)
(in thousands, except share and per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue | 13,505 | 6,674 | 25,579 | 12,335 |
| Cost of goods sold | 2,267 | 1,184 | 4,400 | 2,199 |
| Gross profit | 11,238 | 5,490 | 21,179 | 10,136 |
| Operating expenses | ||||
| Research and development costs | 2,278 | 1,418 | 3,970 | 2,772 |
| Selling, general and administrative expenses | 26,886 | 14,532 | 52,072 | 28,128 |
| Total operating expenses | 29,164 | 15,950 | 56,042 | 30,900 |
| Loss from operations | (17,926) | (10,460) | (34,863) | (20,764) |
| Other income (expense) | ||||
| Change in fair value of convertible notes payable | (4,142) | — | (4,870) | — |
| Interest expense | (254) | (241) | (611) | (480) |
| Other income (expense), net | 1,281 | 213 | 1,563 | 104 |
| Total other expense, net | (3,115) | (28) | (3,918) | (376) |
| Loss before provision for income tax | (21,041) | (10,488) | (38,781) | (21,140) |
| Provision for income tax | (2) | (2) | (2) | (3) |
| Net loss attributable to common stockholders | (21,043) | (10,490) | (38,783) | (21,143) |
| Net loss per share attributable to common stockholders | ||||
| Basic | (1.10) | (12.44) | (3.86) | (25.41) |
| Diluted | (1.10) | (12.44) | (3.86) | (25.41) |
| Weighted average shares used to compute net loss per share attributable to common stockholders | ||||
| Basic | 19,089,211 | 843,168 | 10,054,267 | 832,224 |
| Diluted | 19,089,211 | 843,168 | 10,054,267 | 832,224 |
Condensed Balance Sheets (Unaudited)
(in thousands, except share and per share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 177,090 | 33,587 |
| Accounts receivable | 5,664 | 4,435 |
| Inventory | 6,949 | 5,457 |
| Deferred offering costs | — | 935 |
| Other current assets | 2,446 | 1,943 |
| Total current assets | 192,149 | 46,357 |
| Property and equipment, net | 2,060 | 669 |
| Right-of-use assets operating leases | 932 | 1,068 |
| Other assets | 143 | 55 |
| Total assets | 195,284 | 48,149 |
| Liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) | ||
| Current liabilities | ||
| Accounts payable | 2,359 | 2,223 |
| Operating lease liabilities, current | 358 | 358 |
| Product warranty liability | 1,263 | 844 |
| Accrued payroll, commissions, and bonuses | 4,997 | 4,854 |
| Accrued offering costs | 3,500 | 935 |
| Accrued and other current liabilities | 1,995 | 992 |
| Total current liabilities | 14,472 | 10,206 |
| Warrant liabilities | 134 | 865 |
| Notes payable, net of discount and deferred financing costs | 7,279 | 7,130 |
| Operating lease liabilities, non-current | 790 | 948 |
| Total liabilities | 22,675 | 19,149 |
| Commitments and contingencies (Note 13) | ||
| Redeemable convertible preferred issuable in series, stock, $0.01 par value, zero and 67,174,403 shares authorized as of June 30, 2026 and December 31, 2025, respectively; zero and 65,591,701 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively; aggregate liquidation value of $0 and $182,255 as of June 30, 2026 and December 31, 2025, respectively | — | 179,773 |
| Stockholders’ equity (deficit) | ||
| Common stock, $0.01 par value, 950,000,000 and 86,600,000 shares authorized as of June 30, 2026 and December 31, 2025, respectively; 33,286,108 and 884,030 shares outstanding as of June 30, 2026 and December 31, 2025, respectively | 333 | 9 |
| Additional paid-in capital | 368,848 | 7,007 |
| Accumulated deficit | (196,572) | (157,789) |
| Total stockholders’ equity (deficit) | 172,609 | (150,773) |
| Total liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit) | 195,284 | 48,149 |
Condensed Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss | (38,783) | (21,143) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation and amortization | 191 | 63 |
| Share-based compensation | 2,014 | 605 |
| Change in fair value of convertible notes payable | 4,870 | — |
| Change in fair value of warrant liabilities | (205) | 263 |
| Fair value adjustment of redeemable convertible preferred stock tranche liability | — | 117 |
| Amortization of debt discount and debt issuance costs | 149 | 18 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (1,229) | (49) |
| Inventory | (1,493) | (1,076) |
| Other assets | (997) | 104 |
| Accounts payable | 540 | 285 |
| Accrued liabilities and other | 1,545 | 91 |
| Net cash used in operating activities | (33,398) | (20,722) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (1,582) | (23) |
| Net cash used in investing activities | (1,582) | (23) |
| Cash flows from financing activities | ||
| Exercise of common stock options | 540 | 222 |
| Proceeds from issuance of common stock in public offering, net | 137,501 | — |
| Proceeds from issuance of common stock in warrant exercise | 442 | — |
| Proceeds from issuance of convertible notes payable | 14,102 | — |
| Proceeds from the related party issuance of convertible notes payable | 25,898 | — |
| Proceeds from issuance of Series F redeemable convertible preferred stock, net of issuance costs | — | 29,611 |
| Proceeds from the related party issuance of Series F redeemable convertible preferred stock, net of issuance costs | — | 2,602 |
| Net cash provided by financing activities | 178,483 | 32,435 |
| Net change in cash and cash equivalents | 143,503 | 11,690 |
| Cash and cash equivalents, beginning of period | 33,587 | 14,620 |
| Cash and cash equivalents, end of period | 177,090 | 26,310 |
| Supplemental disclosures of cash flows information | ||
| Cash paid for interest | 462 | 462 |
| Cash paid for taxes | — | 2 |
| Unpaid accrued offering costs | 3,500 | — |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except share and per share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗