Mobia Medical doubles Q1 revenue to $12.1M but discloses material weakness in EPS controls

Filed June 4, 2026 · Period ending March 31, 2026 · ~2 min read

Key Changes

• high

  Management concluded disclosure controls ineffective as of March 31, 2026 due to material weakness in EPS calculation that required restatement of FY2025 weighted-average shares and net loss per share. Remediation controls implemented for Q1 2026.

  Controls & Procedures verify on EDGAR →
• high

  Q1 2026 revenue doubled year-over-year to $12.1M (113% growth) driven by 109% increase in implantable pulse generator units sold. Gross margin stable at 82.3%. Net loss increased to $17.7M from $10.7M as company scales commercial organization.

  MD&A: Results of Operations verify on EDGAR →
• high

  Company raised $134.5M net proceeds in May 2026 IPO (subsequent to quarter-end), significantly strengthening liquidity from $55.7M cash at March 31. Operating cash burn increased 82% to $17.7M in Q1 2026 as commercial headcount expands.

  MD&A: Liquidity verify on EDGAR →