Mobia Medical, Inc. (MOBI) · Nov 5, 2026 · Earnings
Beat — Q3 revenue $15.6M vs ~$14.0M consensus; FY guide raised to $57.0M-$57.5M
Mobia Medical’s third-quarter earnings show accelerating Vivistim adoption, a revenue beat, and higher 2026 guidance despite continued heavy losses.
Mobia is a commercial-stage medical-device company scaling Vivistim, its FDA-approved implantable therapy for upper-limb recovery after chronic ischemic stroke; the current story is rapid commercialization, broader provider adoption, and expansion of its sales footprint.
| Q3 2026 | Q3 2025 | Consensus | |
|---|---|---|---|
| Revenue (Condensed Statements of Operations) | $15.6M (+73%) | $9.0M | ~$14.0M |
| Gross margin (Third Quarter Financial Results) | 83.2% | 79.6% | |
| Net loss per share (Condensed Statements of Operations) | $(0.52) | $(13.31) | $(0.47) |
| FY2026 revenue guidance (2026 Outlook) | $57.0M-$57.5M | $54.0M-$56.0M prior guide |
Commercial execution is running ahead of the market’s bar. Revenue of $15.6 million exceeded the published consensus of roughly $14.0 million by about 11%, while average active territories rose to 40 from 22.5 a year earlier. The combination suggests the sales expansion is translating into product demand, not just a larger cost base. The release states that revenue growth was driven by “broader adoption of the Vivistim System and increased product unit sales.”
The raised full-year guide is the clearest forward signal. Mobia lifted 2026 revenue guidance from $54.0 million-$56.0 million to $57.0 million-$57.5 million, implying roughly 78%-79% annual growth and a higher confidence level in the current patient and sales funnel.
Profitability remains the main offset. Gross margin improved to 83.2%, but operating expenses grew 71% to $31.5 million and the company still posted a $17.3 million net loss. The GAAP loss per share of $0.52 was slightly worse than the roughly $0.47 consensus, although the comparison is distorted by the post-IPO share-count increase. The release says the higher expenses reflect “continued investment in the Company’s commercial organization to support revenue growth.”
The balance sheet gives the expansion more room to run. Cash and cash equivalents were $160.7 million at September 30, 2026, following the IPO and related conversions, while total liabilities were only $23.3 million. That reduces near-term funding pressure, but it does not yet change the underlying cash-burning model.
Bottom line: This quarter advances Mobia’s core commercialization story: revenue is beating expectations and management raised the full-year target. The business is executing ahead of plan, but it remains an early-stage growth company whose operating losses are still substantial.
Q4 and FY2026 results, early 2027
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