AUSTIN, Texas, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Mobia Medical, Inc. (Nasdaq: MOBI), a medical device company redefining stroke recovery for survivors living with life-altering motor impairments, today reported financial results for the quarter ended June 30, 2026.
Second Quarter 2026 and Recent Highlights
- Reported revenue of $13.5 million, representing 102% growth over the prior year period
- Achieved gross margin of 83.2%
- Announced publication of two-year VNS-REHAB follow up data in Neurology- demonstrating durable and clinically meaningful improvement in upper-limb motor function, activities of daily living, and quality of life
- Completed initial public offering, raising approximately $134.0 million in net proceeds
- Appointed Myriam Curet, M.D. and Reza Zadno, Ph.D. to the Board of Directors, adding strategic medtech operating experience and clinical leadership
"We delivered a strong second quarter, with revenue more than doubling year-over-year, reflecting consistent growth and increased momentum in our commercial organization," said Richard Foust, President and CEO of Mobia Medical. "Following the completion of our IPO, we are well positioned to continue broadening our footprint and accelerating patient access to VivistimPaired VNS Therapy. We are committed to redefining what recovery looks like for millions of ischemic stroke survivors who are living with chronic upper extremity impairment, and we are still in the early stages of addressing this profound unmet clinical need."
Second Quarter 2026 Financial Results
Revenue increased by 102%, to $13.5 million for the second quarter of 2026, compared to $6.7 million for the second quarter of 2025. The increase was driven primarily by higher adoption of the Vivistim System and an increased number of IPG units sold.
Gross profit increased by 105%, to $11.2 million for the second quarter of 2026, compared to $5.5 million for the second quarter of 2025. Gross margin was 83.2% for the second quarter of 2026, compared to 82.3% for the second quarter of 2025. The increase was primarily due to freight and tariff costs recognized in cost of goods sold during the period, partially offset by other changes in product and warranty costs.
Operating expenses increased 83% to $29.2 million for the second quarter of 2026, compared to $16.0 million for the second quarter of 2025. The increase was primarily due to higher personnel and commission expenses in the commercial organization to support the Company's growth, as well as increased development costs and general and administrative expenses.
Net loss was $21.0 million, or $1.10 per share for the second quarter of 2026, compared to a net loss of $10.5 million, or $12.44 per share for the second quarter of 2025. The year-over-year decrease in net loss per share primarily reflects the significant increase in weighted-average common shares outstanding following the Company's IPO and the related conversion of its outstanding redeemable convertible preferred stock and convertible notes into common stock.
As of June 30, 2026, cash and cash equivalents totaled $177.1 million. The Company received approximately $134.0 million of net proceeds from its initial public offering, which closed in May 2026, after deducting the underwriters' discounts and commissions, and offering costs.
2026 Outlook
The Company expects revenue for the full year 2026 to be in the range of $54.0 million to $56.0 million, representing growth of 69% to 75% over the full year 2025.
Conference Call and Webcast Details
The Company will host a conference call today, August 11, 2026, at 1:30 p.m. PT / 4:30 p.m. ET to discuss its second quarter 2026 financial results. Those interested in listening to the conference call should register online using this link. Once registered, participants will receive dial-in numbers and a unique PIN to join the call. Participants are encouraged to register more than 15 minutes prior to the start of the call. A live and archived webcast can also be accessed via the News & Events page of the investor section of Mobia Medical's website.
About Mobia Medical, Inc.
Mobia Medical, Inc. is a medical device company redefining stroke recovery for survivors living with life-altering motor impairments. The Company's VivistimPaired VNS System is the first and only clinically validated, FDA-approved implantable solution designed to improve upper limb function in chronic ischemic stroke survivors with moderate to severe upper extremity impairments. Therapy with the VivistimPaired VNS System combines targeted vagus nerve stimulation with functional movement to promote neuroplasticity and drive meaningful improvements in motor function. Mobia Medical is mobilizing patients, providers, and care partners to establish a better way forward in stroke care.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding Mobia Medical's full year 2026 revenue guidance and the assumptions underlying that guidance and Mobia Medical's plans to broaden its commercial reach and accelerate patient access to the Vivistim System. Forward-looking statements can be identified by terms such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," or similar expressions and the negatives of those terms. Mobia Medical cannot assure you that the forward-looking statements in this press release will prove to be accurate. Information in this press release may also include statements relating to past performance, which should not be regarded as a reliable indicator of future performance. Forward-looking statements are based on current expectations and assumptions together with projections of the future, which are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially and adversely from those expressed or implied. These risks and uncertainties include, among others, those discussed under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere in Mobia Medical's filings with the U.S. Securities and Exchange Commission. These statements speak only as of the date of this press release, and Mobia Medical undertakes no obligation to update or revise any forward-looking statements except as required under applicable law. Mobia Medical may not actually achieve the plans, intentions, or expectations disclosed in its forward-looking statements, and you should not place undue reliance on these forward-looking statements.
Investor Relations Contact
Louisa Smith
Gilmartin Group, LLC
investors@mobia.com
Media Inquiries Contact
Terri Clevenger
tclevenger@waterhousebrands.com
| Mobia Medical, Inc. Condensed Balance Sheets (Unaudited) (in thousands, except share and per share data) | ||||||||
| June 30, | December 31, | |||||||
| 2026 | 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 | ||||||
| Redeemable convertible preferred stock | - | 179,773 | ||||||
| Stockholders' equity (deficit) | ||||||||
| Common stock | 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 | ||||
| Mobia Medical, Inc. Condensed Statements of Operations (Unaudited) (in thousands, except share and per share data) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 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 | ||||||||||||
