10-Q · November 19, 2024
Micromobility.com reported Q3 revenue of $775,000 (down from $1,225,000 in 2023 Q3) and GAAP net income of $4,974,000 driven by a $7,596,000 gain on the sale of Wheels; continuing operations remained unprofitable with a…
Earnings analysis · 10-Q
MCOM earnings analysis
Filed August 5, 2025 · Our reading of the company's report
The latest report
Micromobility.com reported Q2 2025 revenue of $476,000 (continuing operations), up from $398,000 a year earlier, with GAAP EPS of $(0.02) (improved from $(0.03)). Gross margin widened to ~21.8% and operating loss…
Read full summary
Micromobility.com reported Q2 2025 revenue of $476,000 (continuing operations), up from $398,000 a year earlier, with GAAP EPS of $(0.02) (improved from $(0.03)). Gross margin widened to ~21.8% and operating loss narrowed to $(541,000) from $(783,000). Liquidity remains a material concern — current liabilities rose to $39.174 million while continuing-operation cash was only $71,000 as of June 30, 2025.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.02
- Segment
- IT Services (Related Party): $476,000 in Q2 2025 (up from $398,000 in Q2 2024); $953,000 for six months ended June 30, 2025 (up from $525,000).
- Segment
- Mobility & Media (Discontinued): $0 in Q2 2025 (down from $389,000 in Q2 2024); $339,000 for six months ended June 30, 2025 (down from $833,000).
What stood out
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Quarterly revenue growth (continuing ops)
Revenue from continuing operations (IT services, related party) rose to $476,000 in Q2 2025 from $398,000 in Q2 2024, an increase of $78,000.
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Improved gross margin
Gross profit for Q2 2025 was $104,000 (Revenue $476,000 less Cost of revenue $372,000), implying a gross margin of ~21.8% versus ~17.6% in Q2 2024 (Revenue $398,000 less Cost of revenue $328,000).
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Operating loss narrowed
Loss from operations improved to $(541,000) in Q2 2025 from $(783,000) in Q2 2024 (a $242,000 improvement).
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EPS improved
Basic and diluted net loss per share was $(0.02) for Q2 2025 versus $(0.03) in Q2 2024 (improvement of $0.01).
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Positive consolidated operating cash flow (YTD)
Net cash provided by operating activities for the six months ended June 30, 2025 was $356,000 (vs. $(2,422,000) for the six months ended June 30, 2024); continuing-operations operating cash used was $(390,000) for the six months.
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Free cash flow roughly positive (six months)
Six-month operating cash provided $356,000 minus purchases of equipment $1,000 implies free cash flow of approximately $355,000 for the six months ended June 30, 2025.
What to watch
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Severe liquidity gap — current liabilities far exceed current assets
Total current liabilities were $39,174,000 at June 30, 2025 versus total current assets $1,012,000, creating a large short-term liquidity deficit.
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Going concern disclosed
Management states these conditions 'raise substantial doubt about the Company’s ability to continue as a going concern within one year' and that it 'plans to continue to fund its operations through debt and equity financing.'
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Large discontinued-operations liabilities and defaults
Liabilities related to discontinued operations totaled $24,964,000 at June 30, 2025, including advances from bank of $13,537,000 and unsecured loans of $1,963,000 that 'are in default for non-payments under the original terms.'
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Material stockholders' deficit and translation loss
Total stockholders' deficit worsened to $(37,917,000) at June 30, 2025 from $(33,164,000) at December 31, 2024; accumulated other comprehensive loss increased to $(3,644,000) (a $2,796,000 deterioration) attributable to foreign currency translation adjustments.
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Related-party concentration and conditional asset sale
Continuing revenue is concentrated in a related-party service agreement (IT Services revenue $476,000 in Q2 2025 and $953,000 for six months), and the December 31, 2024 Stock Purchase Agreement to sell European mobility/media assets remains conditioned on Supreme Court approval or a waiver from a Note Holder.
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Significant non-operating expenses
Non-operating expenses included interest expense (net) of $148,000 in Q2 2025 (and $327,000 for six months) and a SEPA financial expense of $500,000 in Q2 2025, contributing to net loss from continuing operations of $(1,436,000) for the quarter and $(1,814,000) for six months.
Management's outlook
No numeric forward guidance provided. MD&A discloses the company 'plans to continue to fund its operations through debt and equity financing' and highlights the shift to IT software services (related-party revenues of $476,000 in Q2 2025 and $953,000 for the six months). Outlook is effectively deferred to financing outcomes and contingent asset-sale approvals.
Earlier filings 4
10-Q · November 14, 2023
Micromobility.com reported Q3 revenue of $1,554,000 (down from $3,675,000 in Q3 2022) and GAAP net loss of $9,477,000 (net loss per share $(0.06)). Revenue declined significantly year-over-year while operating and net…
10-Q · November 14, 2022
Helbiz reported Q3 revenue of $3.675m (down from $4.702m a year earlier) and a GAAP net loss of $24.562m (loss per share $0.45). Mobility revenues declined while Media revenues grew; the company recorded a $10.390m…
10-Q · August 15, 2022
Helbiz reported Q2 revenue of $4.358M, up from $2.982M in Q2 2021, driven by new Media revenues of $1.489M. However the company posted a net loss of $19.74M (EPS -$0.57) and burned significant cash, leaving cash and…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.