micromobility.com (MCOM) Reports Q3 Revenue of $1.5M, Net Loss of $9.5M

micromobility.com Inc. (NASDAQ: MCOM), a disruptive leader in the micro-mobility sector, today announced its Q3 2023 financial results, underscoring continued strategic progress and operational efficiency.

Key Financial Highlights:

- 9-Month 2023 Revenue, approximately $9.0 million.
- Q3 2023 Revenue, approximately $1.5 million.
- Operating Expenses: 66% reduction comparing Q3 2023 with Q3 2022.
- Q3 2023 Net Loss approximately $9.5 million, showing a decrease of 61% compared with Q3 20233.
- Financial Liabilities as of September 30, 2023, amounting to $27.2 million shows a reduction of 33% compared to December 31, 2022.

Management’s Perspective:

CEO, Salvatore Palella, commented on the progress, “Despite challenges, we are moving steadily towards our strategic goals with a focus on operational recalibration and exploring new profitable opportunities. Our commitment to fiscal discipline and long-term viability is unwavering as we continue to pioneer sustainable and affordable urban transportation solutions.”

Interim CFO, Gian Luca Spriano, added, “Our Q3 results reflect our ongoing efforts to streamline operations and manage costs effectively. The substantial decrease in operating expenses and net loss indicates our strong commitment to achieving financial stability. We are on a focused path to bolster our financial position and drive sustainable growth.”

Micromobility.com Inc.’s third quarter 2023 financial results can be found by accessing the Company’s quarterly results page of the Investor Relations section of the micromobility.com Inc. website at: https://ir.micromobility.com/.

Earnings Call Announcement

In an effort to involve a broader audience in our financial discussions, this quarter’s earnings call will be hosted as a Space Call on X (formerly Twitter on Wednesday November 15th at 9am ET. This innovative approach allows all retail investors to participate. Join us at https://twitter.com/i/spaces/1RDxlljZyvMxL?s=20

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