Breaking Down Mobiquity Technologies, Inc. (MOBQ) Financial Health: Key Insights for Investors

You're looking at Mobiquity Technologies, Inc. (MOBQ) and, honestly, the Q3 2025 numbers are a shock to the system. The core issue isn't just slow growth; it's a severe contraction that demands a hard look at liquidity and operational viability. For the nine months ended September 30, 2025, the company reported total sales of only $160,795, a massive drop from the prior year, resulting in a net loss of over $6.69 million. That's a deep, defintely unsustainable burn rate, plus the balance sheet shows a cash position of just $361,894 against a working capital deficit of $2,569,531. The company itself has disclosed a 'substantial doubt' about its ability to continue as a going concern. This isn't a turnaround story yet; it's a critical financial triage. We need to map out what that means for the stock, especially with 92% of Q3 revenue tied to just two customers.

Revenue Analysis

You need to know where the money is coming from and, more importantly, where it's going. The clear takeaway for Mobiquity Technologies, Inc. (MOBQ) is that while the trailing twelve months (LTM) revenue ending June 30, 2025, showed a strong year-over-year increase, the most recent quarterly data reveals a sharp, concerning decline. For the nine months ending September 30, 2025, total sales were only $160,795, a massive drop from $1.1 million in the comparable period last year.

Primary Revenue Sources and Business Mix

Mobiquity Technologies, Inc. operates its business as a single reporting segment, which is common for smaller, focused tech firms, but it makes it harder to see the profitability of individual product lines. All of the company's revenue is generated from customers in the United States. The core business is internet advertising, delivered through its programmatic advertising platform, ATOS, and its data intelligence platform, MobiExchange.

• ATOS Platform: Programmatic media and audience targeting.
• MobiExchange: Real-time behavioral insights and data intelligence.
• Geographic Focus: 100% of sales from the U.S.

The company is defintely trying to shift its focus. The Q2 2025 report noted a strategic move away from a reliance on political advertising, which was a significant contributor to the 2024 revenue, toward a partnership with Context Networks in the casino gaming advertising technology space. This shift is a high-risk, high-reward bet.

Year-over-Year Revenue Volatility

Don't let the past fool you. While the annual revenue for 2024 was $2.09 million, representing a massive 142.47% growth over 2023, that growth was largely attributed to the one-time boost from political advertising. That revenue source is now gone, and the impact is clear in the 2025 quarterly figures. The latest twelve months (LTM) revenue ending June 30, 2025, was $1.60 million, which was still up 41.94% year-over-year, but that LTM figure includes the stronger 2024 quarters.

Here's the quick math on the near-term trend: the revenue for the quarter ending September 30, 2025, was only $117,074, a drop of about 79.3% from the same quarter in 2024. This level of volatility is a major red flag for investors, signaling a period of significant business model transition and execution risk.

Significant Revenue Stream Changes and Concentration Risk

The biggest change is the evaporation of the political revenue that propped up 2024. The Q2 2025 revenue decline reflects this strategic shift. What this estimate hides is a serious customer concentration risk. For the quarter ended September 30, 2025, sales to just two customers accounted for approximately 92% of the total revenue. That is a terrifying level of dependency; losing even one of those contracts would crater the company's top line.

The new focus on casino gaming advertising through the Context Networks partnership is the company's attempt to replace the lost political revenue. Management is banking on this new vertical, but the current revenue figures show the transition has been brutal so far. You need to monitor the execution of this new strategy closely. To understand who is still betting on this shift, you should check out Exploring Mobiquity Technologies, Inc. (MOBQ) Investor Profile: Who's Buying and Why?

Profitability Metrics

You're looking at Mobiquity Technologies, Inc. (MOBQ) because they operate in the hot advertising and data intelligence space, but the numbers tell a story of a company struggling to monetize its technology. The direct takeaway is this: while their gross margin looks strong, their operational efficiency is dangerously poor, leading to massive net losses that are accelerating.

For the third quarter of 2025 (Q3 2025), Mobiquity Technologies, Inc. reported revenue of only $117,074, a sharp drop from the prior year. This low revenue base makes all their profitability ratios extremely volatile, but the trend is clear: the company is burning cash at an unsustainable rate. Here's the quick math on their core margins for Q3 2025, which you need to see against the industry backdrop.

Gross Profit and Operational Efficiency

The gross profit margin is the one bright spot, sitting at nearly 75% in Q3 2025, which is defintely strong. This margin, which measures revenue minus the cost of goods sold (COGS), suggests their core AI-driven programmatic media platform has a high inherent markup, typical of asset-light technology or niche service models. For a comparable 'Advertising Agency,' the average gross profit margin is closer to 51.4%, so Mobiquity Technologies, Inc. is outperforming on that measure.

But this high gross margin is a head-fake. The problem is what happens next. The loss from operations-the operating profit-was a staggering ($1.95 million) in Q3 2025. This translates to an operating profit margin of approximately -1667.5%. This gap shows a complete failure in cost management: the company's selling, general, and administrative (SG&A) expenses are overwhelming the gross profit. It's a classic case of a high-margin product being buried by bloated overhead.

• Strong Gross Margin: The 74.97% gross margin suggests pricing power or low direct service delivery cost.
• Weak Operational Margin: The -1667.5% operating margin signals a critical, immediate need for SG&A cost reduction.

Net Profit Trends and Industry Comparison

The net loss for Q3 2025 deepened to over $2.22 million, resulting in a net profit margin of about -1897.1%. This is the bottom line, and it's a flashing red light. For the nine months ended September 30, 2025 (9M 2025), the net loss ballooned to $6.69 million, compared to a loss of $3.07 million in the same period a year ago. The loss is more than doubling year-over-year.

To be fair, the industry average net profit margin for Advertising Agencies is already negative at -1.9%, reflecting a tough, competitive landscape. But Mobiquity Technologies, Inc.'s nearly -1900% margin is not just a reflection of the industry; it signals a severe liquidity and going concern issue, as management themselves have noted. You have to ask if the current revenue base can ever support the operating structure. The company is trying to pivot with new AI-driven platforms like CMOne, but the financial results for 2025 so far show that the investment isn't translating to positive cash flow yet. For a full breakdown of their financial health, you should read our comprehensive analysis: Breaking Down Mobiquity Technologies, Inc. (MOBQ) Financial Health: Key Insights for Investors.

The core action for management must be a brutal cost-cutting exercise to align the expense base with the current revenue reality. Without that, the high gross margin is just an academic statistic.

Debt vs. Equity Structure

You need to know how Mobiquity Technologies, Inc. (MOBQ) funds its operations, and the short answer is that the mix is highly volatile and skewed toward short-term obligations right now. The company's financial structure as of the Q3 2025 filing shows a D/E ratio that looks deceptively healthy, but the underlying risks-especially the liquidity strain-are massive.

Here's the quick math on the debt-to-equity (D/E) ratio, which tells you how much debt a company uses to finance its assets relative to the value of its shareholders' equity. Using the September 30, 2025, balance sheet data, Mobiquity Technologies, Inc. has current debt of $1,182,786 and stockholders' equity of $1,930,529.

This gives us a Debt-to-Equity ratio of about 0.61:1. That's a low leverage ratio, which, on its own, would typically be a positive signal. But this estimate hides the fact that the company has an accumulated deficit of over $232 million. That's a huge hole to climb out of.

The industry comparison shows the complexity. The average D/E ratio for Advertising Agencies is around 0.79 as of November 2025, so Mobiquity Technologies, Inc.'s ratio of 0.61 is technically better. Still, for a high-growth, capital-light ad-tech company, you'd often want to see a ratio closer to the Interactive Media & Services average of 0.19.

The real issue isn't the D/E ratio itself; it's the nature of the debt and the company's ability to service it. The debt is almost entirely short-term, contributing to a working capital deficit of $2,569,531. This is why management has stated there is 'substantial doubt' about the company continuing as a going concern, a serious red flag for any investor.

Mobiquity Technologies, Inc. is actively balancing its funding efforts between debt and equity. They are defintely trying to stabilize the ship by seeking new financing, and they've used a classic strategy of converting debt into equity to clean up the balance sheet.

• Debt-to-Equity: 0.61:1 as of Q3 2025.
• Current Debt: $1,182,786 is due in the near-term.
• Equity Funding: Issued 136,501 shares from debt conversion in the first nine months of 2025.
• Financing Strategy: Actively seeking new 'equity and/or debt financing'.

The conversion of debt to common stock is essentially a non-cash way to reduce liabilities, but it comes at the cost of shareholder dilution. This is a common move for micro-cap companies in distress, but it confirms the liquidity challenge is immediate. For a deeper dive into the company's overall performance, check out the full post at Breaking Down Mobiquity Technologies, Inc. (MOBQ) Financial Health: Key Insights for Investors.

Liquidity and Solvency

You need to know if Mobiquity Technologies, Inc. (MOBQ) can cover its near-term bills, and honestly, the numbers show significant stress. The company's liquidity position is weak, indicating a reliance on external financing to keep the lights on. This is the single most important takeaway for any investor right now.

Assessing Mobiquity Technologies, Inc. (MOBQ)'s Liquidity

The core issue is that Mobiquity Technologies, Inc. does not have enough liquid assets to cover its short-term debts. The two key ratios-Current and Quick-are flashing red. Your Current Ratio, which compares all current assets to current liabilities, sits at approximately 0.32. A healthy company usually aims for 1.0 or higher; Mobiquity Technologies, Inc. is nowhere near that benchmark. This means that for every dollar of short-term debt, the company only holds about 32 cents in assets that should be converted to cash within a year.

Worse still is the Quick Ratio (Acid-Test Ratio), which strips out less-liquid assets like inventory. This ratio is around 0.26. This tells you that even after removing inventory, the company's most immediate cash or near-cash assets are far too low to satisfy current obligations. It's a very tight spot.

Working Capital Trends and Cash Flow Overview

A Current Ratio of 0.32 translates directly into a substantial and persistent negative working capital trend. Working capital is simply Current Assets minus Current Liabilities, and when the ratio is below 1.0, that number is negative. This means the company is using long-term financing or new capital just to fund its day-to-day operations, which is unsustainable without continuous funding.

Looking at the cash flow statement confirms this reliance on outside money. For the trailing twelve months (TTM) ending around mid-2025, Mobiquity Technologies, Inc.'s Cash Flow from Operations (OCF) was a negative $-3.64 million. This is the cash generated (or lost) from the core business, and losing cash here is the root of the liquidity problem. The company is not generating enough revenue to cover its costs, which is why you see the need for the following:

• Operating Cash Flow: $-3.64 million (TTM, mid-2025)
• Investing Cash Flow: $-0.47 million (TTM, mid-2025)
• Financing Cash Flow: +$4.48 million (FY 2024)

The positive Financing Cash Flow, which was $4.48 million in FY 2024, is the lifeline. This capital comes from issuing new stock or taking on new debt, which is how the company has maintained an end cash position of about $1.16 million as of the end of 2024. They are funding losses by raising capital. Period.

Liquidity Concerns and Actionable Insights

The primary concern is the company's ability to continue as a going concern (a business that can meet its financial obligations as they fall due). The company's own Q3 2025 report explicitly states that they have incurred significant losses and there is substantial doubt about their ability to continue without securing additional capital. This is a serious regulatory disclosure you cannot ignore. The path forward for Mobiquity Technologies, Inc. is clear: they must execute on their plan to seek additional equity or debt financing, or find opportunities for positive short-term cash flow. For a deeper dive into their long-term strategy, you can review their Mission Statement, Vision, & Core Values of Mobiquity Technologies, Inc. (MOBQ).

Here's the quick math: negative OCF plus a low Current Ratio equals a high risk of dilution for existing shareholders, as new equity is the easiest way to inject cash quickly. Your action as an investor is to monitor their SEC filings for news of successful capital raises and any signs of a turnaround in operating cash flow. Defintely watch for any significant shifts in their customer concentration, as sales to just two customers accounted for approximately 92% of revenues in Q3 2025.

Valuation Analysis

You're looking at Mobiquity Technologies, Inc. (MOBQ) and wondering if the price is right. My view is that Mobiquity Technologies, Inc. is currently trading at a premium relative to its book value, but its valuation ratios are distorted by operational losses, making a simple over/undervalued call impossible without a deeper look at future cash flows.

Loss-making companies are tricky to value on traditional metrics. The key is to understand why the ratios are negative or extremely high, and whether that signals a temporary growth investment or a structural problem. For Mobiquity Technologies, Inc., the numbers defintely point to the former, but with significant risk.

Key Valuation Multiples: A Distorted Picture

When a company is in a high-growth, pre-profit stage, standard valuation multiples like Price-to-Earnings (P/E) become unreliable. Here's the quick math on the trailing twelve months (TTM) data as of November 2025, which shows the complexity:

• Price-to-Earnings (P/E) Ratio: The TTM P/E stands at approximately -5.01. A negative P/E simply tells you the company is not profitable, which we already knew from its focus on scaling its next-generation data intelligence and advertising technology solutions.
• Price-to-Book (P/B) Ratio: At a P/B of 13.71, investors are paying nearly 14 times the company's net asset value. This is a very high multiple, signaling that the market is placing a massive value on Mobiquity Technologies, Inc.'s intangible assets-its technology, data, and future growth potential-not its current physical assets.
• Enterprise Value-to-EBITDA (EV/EBITDA): This ratio is also negative, at around -5.19. Since Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is negative, the company is burning cash at the operating level. This is the core risk you need to map to the company's Mission Statement, Vision, & Core Values of Mobiquity Technologies, Inc. (MOBQ). to see if the strategy justifies the burn.

To be fair, a high P/B and negative earnings are common in the ad-tech sector, but you must benchmark this against peers. The high P/B suggests that the stock is priced for perfection on its future growth, not its present financial reality.

Stock Trend and Analyst View

The stock price trend over the last 12 months shows significant volatility and a downward correction. The 52-week range has been from a low of $0.92 to a high of $4.45, with the stock closing at $1.50 on November 14, 2025. This is a sharp drop from the $4.34 price point seen in November 2024, reflecting a substantial loss of market capitalization and investor sentiment over the year.

Regarding a consensus, comprehensive analyst ratings are currently unavailable for Mobiquity Technologies, Inc. However, some technical analysis has recently downgraded the stock from a 'Buy' to a 'Hold' candidate, suggesting caution is warranted at the current price level. Since the company does not pay a dividend, its dividend yield and payout ratios are not applicable to the investment thesis.

What this estimate hides is the potential for a massive upside if the company achieves its revenue growth projections-but that's a high-risk bet. Your next step should be to model a Discounted Cash Flow (DCF) valuation using a high discount rate to account for the operational risks and the negative EBITDA.

Risk Factors

You need to look past the innovative technology-like the new CMOne AI platform-and focus on the cold, hard financial reality. Mobiquity Technologies, Inc. (MOBQ) is facing an existential liquidity crisis, and their recent Q3 2025 filing is defintely a flashing red light. The direct takeaway is that the company's ability to continue operating as a going concern is in substantial doubt, driven by massive losses and razor-thin cash reserves.

Here's the quick math on the near-term financial risks, which are the most critical for any investor right now.

• Going Concern Uncertainty: Management explicitly stated in the November 2025 Q3 filing that there is a 'substantial doubt' about the company's ability to continue as a going concern.
• Liquidity Strain: As of September 30, 2025, the company had only $361,894 in cash. This is set against a working capital deficit of $2,569,531, meaning current liabilities significantly outweigh current assets.
• Cash Burn: Net cash used in operations for the nine months ended September 30, 2025, was $4,127,980. That's a huge burn rate relative to their cash on hand.

Operational and Financial Risks Highlighted in Q3 2025

The operational risks are directly tied to the financial ones, showing a business model that hasn't achieved stable revenue generation. The Q3 2025 revenue was only $117,074, a steep decline from prior periods, and the net loss for the nine months ballooned to $6,685,887. This level of contraction signals a failure to execute on sales, regardless of the quality of the underlying ad-tech platforms like Advangelists or ATOS4P.

The most immediate operational risk is customer concentration. Losing even one major contract would be catastrophic.

External and Strategic Challenges: Competition and Delisting

In the broader market, Mobiquity Technologies, Inc. operates in the highly competitive advertising technology (AdTech) and data intelligence space. They are up against giants with substantially larger resources. The company's focus on niche markets, like the casino gaming ad-tech sector through its Context Networks partnership, is a strategic move, but it's still an unproven segment for them. For a deeper understanding of the company's long-term vision, you can review the Mission Statement, Vision, & Core Values of Mobiquity Technologies, Inc. (MOBQ).

Also, let's not forget the capital markets risk. The stock is a 'penny stock' and was delisted from the Nasdaq Capital Markets in December 2023. This limits institutional investment and liquidity, making it harder to raise capital when they need it most.

Mitigation Strategies and Clear Actions

Management is trying to mitigate these risks by aggressively seeking external capital and focusing on strategic partnerships. They secured an equity line of credit (ELOC) facility with ClearThink Capital in June 2025 and are pushing the CMOne AI platform. However, the success of these plans depends entirely on external capital markets and the ability to stabilize revenue quickly. The ELOC gives them a funding mechanism, but it comes with dilution risk for existing shareholders.

The whole investment thesis hinges on whether the new strategic focus can deliver revenue fast enough to outrun the cash burn.

Growth Opportunities

You're looking at Mobiquity Technologies, Inc. (MOBQ) and seeing a company in transition, pivoting from historical revenue struggles-like the Q3 2025 sales of only $0.117074 million-to a focused, high-growth strategy centered on artificial intelligence (AI) and the massive gaming market. The growth story here isn't about incremental gains; it's about a few key partnerships and a new product that could fundamentally change the revenue trajectory.

The current financial snapshot shows the challenge: the trailing twelve-month (TTM) revenue as of June 30, 2025, was only about $1.6M, and the net loss for the nine months ended September 30, 2025, was $6.69 million. So, the focus for investors must be entirely on the operational catalysts that will close that gap and drive future sales.

Key Growth Drivers: AI and Casino Ad-Tech

The near-term growth for Mobiquity Technologies, Inc. is pinned on two concrete pillars: a major market expansion into the global casino industry and the commercialization of its new AI platform. These are the engines that should accelerate revenue in late 2025 and into 2026.

• Gaming Industry Penetration: A five-year strategic agreement, announced in November 2025, with Context Networks and NRT Technology is the biggest move. This deal integrates Mobiquity's advanced advertising platform into NRT's vast footprint, giving immediate access to over 1,000 casino properties worldwide.
• Digital Advertising Scale: The platform will be deployed across more than 11,000 NRT Financial Kiosks globally, plus VisuaLimits Pro Digital Table Game Signs, which hold an 80% market share across table games. This provides a massive, high-impact digital out-of-home (DOOH) advertising network, creating a new, non-gaming revenue stream for casino operators.
• Agentic AI Platform (CMOne): Mobiquity launched CMOne in August 2025, calling it the industry's first fully agentic AI marketing operating system. This platform automates content creation, real-time media buying, and omnichannel brand engagement, which is a defintely compelling value proposition for emerging brands looking to compete with larger players.

Competitive Advantages and Strategic Positioning

Mobiquity Technologies, Inc.'s competitive edge is its ability to bridge data intelligence with high-impact, contextually relevant ad delivery, especially in non-traditional, physical environments. They aren't just a generic ad-tech firm. The strategic equity swap of $500,000 with Context Networks in February 2025 shows a deep commitment to owning the programmatic gaming ad-tech niche.

Here's the quick math on their positioning: By leveraging NRT's existing hardware infrastructure, they bypass the capital expenditure and time required to build a new network from scratch, making their time-to-market and scalability superior in the casino space. This is a classic 'platform-as-a-service' (PaaS) move, utilizing another company's physical assets to deliver their software and data intelligence. You can learn more about the underlying strategy in their Mission Statement, Vision, & Core Values of Mobiquity Technologies, Inc. (MOBQ).

The table below summarizes the core operational drivers for future growth:

Future Revenue and Earnings Estimates

While specific consensus analyst forecasts for 2026 revenue or earnings per share (EPS) are not publicly available, the operational runway is clear. The significant Q3 2025 net loss of $2.22 million shows the company is in a heavy investment phase, banking on these new partnerships to pay off. The key action to watch is the revenue generated from the casino ad-tech network, which is structured with recurring revenue opportunities, like the minimum monthly commitment in the NewsOut program.

The market is clearly anticipating a rebound based on these moves; the stock was trading around $1.35 as of July 30, 2025, with a market capitalization of $29.6M, and some technical forecasts project a price of $2.41 per share by December 15, 2025. This suggests a belief that the new strategic direction will yield substantial revenue growth, even if the exact numbers aren't yet in the public domain.

Finance: Track Q4 2025 and Q1 2026 revenue breakdowns to see the initial contribution from the NRT/Context Networks deal.