MOB

Bull points

• The single number that frames the quarter is the 2.4 million in revenue visibility, which was up 50% year over year, capturing what actually happened in Q1.
• Order backlog was $1.8 million at March 31st against $737,000 at the same point a year ago, up approximately 151% above the same point last year.
• Post-order momentum since March 31st Door-to-Book has continued to grow with additional orders from our US Tier 1 customer under the OPFL program, plus follow-on orders from other global customers, all of them to be delivered within 2026.

Bear points

• While we are thrilled by this inclusion in the U.S. Army LASSO program, LASSO is currently in the initial deployment phase, and we have no Mobilicom orders associated with this program to date.