Mobiquity Technologies (MOBQW) Financials

Mobiquity Technologies (NASDAQ: MOBQ) shows a business that is still struggling to convert revenue into profits, but the latest quarter did show some improvement in cash generation and a better balance-sheet position than the prior year.

For Q1 2026, revenue came in at just $18.4 thousand, down sharply from $117.1 thousand in Q3 2025 and well below the company’s much stronger revenue levels in 2024. Gross profit was positive at $14.1 thousand, but operating expenses of $2.0 million drove a substantial operating loss. Net loss for the quarter was $2.54 million.

Over the last several years, the company has remained deeply unprofitable, with quarterly losses typically in the $1.0 million to $5.7 million range. The pattern suggests the core business has not yet reached scale, while expenses remain far above sales.

On the balance sheet, MOBQ ended Q1 2026 with $137.9 thousand in cash and $4.56 million in current liabilities versus $547.1 thousand in current assets. That leaves the company in a tight liquidity position, although this is better than some earlier periods when liabilities were also elevated. Total assets were $4.69 million, and common equity was only $134.9 thousand.

Cash flow was also negative from operations in Q1 2026, with operating cash outflow of $1.25 million. However, financing activities brought in $750.6 thousand, largely from $1.13 million in common equity issuance and some debt issuance, which helped soften the cash burn. Even so, the company still reported a net decrease in cash of $504.6 thousand during the quarter.

• Q1 2026 gross profit was positive, showing the company can still generate revenue above direct costs.
• Financing inflows in Q1 2026 helped offset operating losses and limited the cash decline.
• Cash and equivalents improved from $0.0 in some stressed small-cap situations and remained positive at $137.9 thousand.
• Current assets rose modestly quarter over quarter from Q3 2025 to Q1 2026, helped by cash and prepaid assets.
• Q1 2026 revenue of $18.4 thousand was still positive, but extremely small relative to expenses.
• The company has relied on a mix of debt and equity financing across recent quarters to fund operations.
• Noncash amortization remains large, which suggests a meaningful portion of expenses is tied to prior acquisitions or intangible assets.
• Operating expenses in Q1 2026 were more than 100 times revenue, keeping profitability out of reach.
• The company posted a $2.54 million net loss in Q1 2026 and has posted losses every quarter shown.
• Current liabilities of $4.56 million exceed current assets of $547.1 thousand, pointing to significant short-term liquidity pressure.

Looking at the broader trend, 2024 was a much stronger revenue period than 2025 and early 2026, but profitability still did not follow. Revenue fell dramatically from the 2024 quarter levels to the much smaller 2025 and 2026 figures, while SG&A stayed very high. That combination is usually a difficult setup for a micro-cap stock.

Bottom line: MOBQ has shown some ability to raise cash and keep operating, but its financials still reflect a highly speculative, high-risk company with weak revenue, persistent losses, and a strained balance sheet.