Monitor IPO pricing and post-IPO performance. The company's ability to achieve profitability and expand payor coverage is critical. Watch for updated financials and any additional dilution from the convertible note conversion.
Executive Summary
Mobia Medical files amended S-1 for its IPO, revealing rapid revenue growth (104.8% YoY to $32.0M in 2025) but widening net losses ($46.5M) and a going-concern doubt. The IPO is critical to fund operations and growth. No price range is set yet.
Key Financial Metrics
Key Facts
- Revenue grew 104.8% to $32.0M in 2025 from $15.6M in 2024
- Net loss widened to $46.5M in 2025 from $24.6M in 2024
- Accumulated deficit of $157.8M as of Dec 31, 2025; cash and equivalents of $33.6M
- Going-concern uncertainty noted in financial statements
- Material weakness in internal control over financial reporting identified
- IPO proceeds to expand sales force, R&D, and general corporate purposes
- Underwriters: BofA Securities, J.P. Morgan, Goldman Sachs; ticker MOBI on Nasdaq
Financial Impact
IPO size not yet disclosed; company raised $40M in convertible notes in early 2026. Net proceeds will be used to fund operations and growth.
Risk Factors
- Going-concern risk if IPO does not raise sufficient capital
- Continued operating losses and negative cash flow
- Single product dependency (Vivistim System)
- Limited commercial insurance coverage for Vivistim Therapy
- Material weakness in internal controls may affect financial reporting
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| S-1/A Filing (Primary) | 0001628280-26-027560 |
| Exhibit: exhibit11-sx1a.htm | 0001628280-26-027560 |
| Exhibit: exhibit231-sx1a.htm | 0001628280-26-027560 |
| Document: 0001628280-26-027560-index-headers.html | 0001628280-26-027560 |
| Document: 0001628280-26-027560-index.html | 0001628280-26-027560 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 16, 2026 10d ago | 8-K/A | $8.81 | awaiting T+60 | — | $11.11 (+26.11%) |
Oct 15, 2026 11d ago | Press Release | $8.09 | awaiting T+60 | — | $11.11 (+37.33%) |
Aug 20, 2026 9w ago | Insider Buy | $10.61 | awaiting T+60 | — | $11.11 (+4.71%) |
Aug 17, 2026 10w ago | Insider Buy | $11.73 | awaiting T+60 | — | $11.11 (−5.29%) |
Jun 29, 2026 17w ago | Insider Cluster | $13.40 $9.16 | ▼ −31.64% | ▼ −34.46% | $11.11 (−17.09%) |
Jun 11, 2026 19w ago | Insider Buy | $12.31 $11.09 | ▼ −9.91% | ▼ −13.17% | $11.11 (−9.75%) |
May 11, 2026 24w ago | Insider Cluster | $12.00 $12.25 | ▲ +2.08% | ▼ −2.31% | $11.11 (−7.42%) |
May 11, 2026 24w ago | Insider Cluster | $12.00 $12.25 | ▲ +2.08% | ▼ −2.31% | $11.11 (−7.42%) |
May 8, 2026 24w ago | EFFECT | $11.75 $11.84 | ▲ +0.77% | ▼ −4.07% | $11.11 (−5.45%) |
May 7, 2026 24w ago | 3 | $11.75 $11.84 | ▲ +0.77% | ▼ −4.07% | $11.11 (−5.45%) |
US Market Status
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