Mobilicom Ltd. ADR (MOB) has released an update.
Mobilicom Ltd. ADR experienced robust growth with a 43% revenue increase to $3.3 million, underpinned by repeat orders and a strong cash position of $12.3 million. Despite no dividends being paid in the financial year, the company completed a significant capital raise of approximately $4.31 million. Mobilicom continues to expand its global customer base, delivering high-security communication solutions for drones and autonomous systems, with a confirmed order backlog expected to bolster the first half of 2024.
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