Micromobility.com, Inc. reported its financial results for the third quarter and the first nine months of 2025, revealing a shift in its business focus from micromobility and media services to IT software services. For the three months ended September 30, 2025, the company generated $610,000 in revenue from related parties, a 35% increase from $451,000 in the same period of 2024. For the nine months, revenue rose 60% to $1.563 million from $977,000 year-over-year. Despite this growth in revenue, the company reported a net loss of $1.841 million for the nine months, compared to a loss of $1.095 million in the same period of 2024.
Operating expenses for the third quarter totaled $830,000, a decrease from $807,000 in the prior year, while total operating expenses for the nine months were $3.524 million, down from $4.218 million. The reduction in expenses is attributed to the company's strategic decision to exit its mobility and media operations, which had been incurring high costs. The company also reported a significant decrease in interest expenses, which fell by 81% to $154,000 for the third quarter, reflecting a shift in its financial obligations.
Micromobility.com has undergone significant organizational changes, including the discontinuation of its mobility and media operations in both the U.S. and Europe. The company entered into Securities Purchase Agreements to sell its mobility businesses, with the sale of Wheels Lab, Inc. completed in August 2024. The company’s Serbian subsidiary, Helbiz Doo, has become its primary revenue generator through a service agreement with Everli S.p.A., a related party. This transition has resulted in a focus on software development services, which are expected to drive future revenue growth.
As of September 30, 2025, the company reported cash and cash equivalents of $15,000, indicating a need for additional capital to support operations. The company plans to continue funding its operations through debt and equity financing, although it faces challenges in raising capital on favorable terms. The company is also in default on several financial obligations, including a secured convertible loan and a promissory note, which could impact its liquidity and operational stability.
Looking ahead, Micromobility.com aims to stabilize its financial position and achieve profitability through its new focus on IT services. The company acknowledges the ongoing need for external financing to support its operations and expansion plans. The management's outlook remains cautious, emphasizing the importance of generating sufficient revenue to cover operational costs while navigating the challenges posed by its previous business model and current financial obligations.
About micromobility.com Inc.
Micromobility.com is a technology company providing software development and business services to the transportation and mobility sectors. It offers scalable, white-label enterprise solutions, primarily generating revenue through enterprise software solutions and software development services. The company has shifted focus from micromobility and media to IT services, serving clients in transportation, mobility, and broader tech markets, with operations in New York and Belgrade.
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