10-K: Mobiquity Technologies Reports Significant Revenue Drop in FY2025

Mobiquity Technologies, Inc. filed its annual report for the fiscal year ended December 31, 2025, detailing a substantial revenue decline and ongoing efforts to secure financing.

Summary

• Mobiquity Technologies, Inc. reported revenues of $112,316 for the fiscal year ended December 31, 2025, a significant decrease from $2,085,471 in the prior year.
• The company experienced a net loss of $10,434,289 for fiscal year 2025, compared to a net loss of $8,593,182 in fiscal year 2024.
• Operating expenses increased by $348,227 to $9,520,914 in fiscal year 2025, primarily due to higher professional fees, offset by decreases in stock-based compensation and other expenses.
• The company has a history of operating losses and its auditor has included an explanatory paragraph regarding substantial doubt about its ability to continue as a going concern.
• Mobiquity Technologies is focused on expanding its advertising technology and data intelligence platforms, including its ATOS, MobiExchange, and CMOne platforms, and its strategic partnership with Context Networks in the casino and gaming sector.

Sentiment

Score: 2

Explanation: StockSavvy.ai views this filing as negative due to the substantial revenue decline, increased operating losses, and the auditor's statement raising substantial doubt about the company's ability to continue as a going concern.

Positives

• The company continues to invest in platform development, including AI and machine learning capabilities, and expanded business development activities.
• The partnership with Context Networks positions the company to participate in the emerging convergence of gaming, retail media, and digital advertising technologies.
• The company has a strategy to provide a de-fragmented advertising technology ecosystem, consolidating multiple vendor capabilities into a unified operating system.

Negatives

• Revenue for the year ended December 31, 2025, declined approximately 95% from the prior year, largely due to the non-recurrence of political advertising revenue.
• The company reported a net loss of $10,434,289 for fiscal year 2025, an increase from the previous year's loss of $8,593,182.
• Operating expenses increased in fiscal year 2025 due to continued investment in platform development and strategic partnerships.
• The company has a history of operating losses and significant cash flow deficits, leading to substantial doubt about its ability to continue as a going concern.
• Two customers accounted for approximately 64% of revenues in fiscal year 2025, indicating significant customer concentration risk.

Risks

• The company has a history of operating losses and has concluded that factors raise substantial doubt about its ability to continue as a going concern.
• Revenue declined significantly in 2025, and future revenue may remain volatile due to customer concentration and the cyclical nature of political advertising.
• The company is dependent on key strategic partnerships, including its relationship with Context Networks, and any termination or failure to scale could adversely affect revenue.
• The expansion into casino and gaming-based advertising environments involves significant execution risk, with no assurance of market maturation or revenue development.
• The reliability of its product solutions depends on data from third parties, and a failure to obtain necessary data licenses on commercially reasonable terms could have material adverse consequences.
• The company's business practices with respect to data and consumer protection could give rise to liabilities or reputational harm due to evolving privacy regulations.
• A significant breach of confidentiality or security of its systems could be detrimental to the business, reputation, and results of operations.
• The company's common stock is subject to penny stock rules, which impose additional sales practice requirements on broker-dealers and may limit trading activity and liquidity.
• The market price of its common stock is likely to remain highly volatile due to factors including a limited public float and a low trading volume.

Future Outlook

Management expects future revenue growth to be influenced by the expansion of the casino and gaming advertising network, increased adoption of AI-enabled capabilities within CMOne, and growth in programmatic advertising spend through ATOS. However, the timing and extent of such growth remain uncertain. Management expects operating expenses to remain elevated in the near term due to continued investment in the growth strategy.

Management Comments

• Management believes that combining advertising execution technology with data intelligence solutions positions the Company to participate in multiple segments of the digital advertising value chain.
• Management believes Mobiquity is currently the only publicly traded advertising technology company with exposure to a programmatic advertising network integrated directly into casino gaming devices and related gaming infrastructure.
• Management believes these initiatives position the Company to capture opportunities across multiple segments of the rapidly expanding programmatic advertising industry.
• Management has decided to defer the allocation of additional talent necessary for the full implementation of planned internal control remediations until fiscal 2026.

Industry Context

StockSavvy.ai notes that Mobiquity Technologies operates in the highly competitive and rapidly evolving advertising technology and data intelligence sectors. The company's strategy to offer an integrated technology stack and its expansion into niche markets like casino gaming advertising are key differentiators, but the significant revenue decline and ongoing financial challenges highlight the intense market pressures and the need for successful execution of its growth initiatives.

Legal Proceedings

• Michael Trepeta, a former Co-CEO and director, filed a lawsuit claiming fraudulent inducement, breach of employment agreement, breach of covenant of good faith and fair dealing, and breach of fiduciary duty, seeking not less than $2.5 Million in damages. The appeal of the motion to dismiss was denied, and the case was dismissed.

Related Party Transactions

• The company entered into five individual short-term unsecured loans with Dr. Gene Salkind, the Company's Board Chair, and individuals related to him (2024 Salkind Loans) totaling $250,000.
• During 2025, the company entered into two additional individual short-term unsecured loans with Dr. Salkind (2025 Salkind Loans) totaling $275,000.
• The company entered into several unsecured non-interest bearing loan agreements with its corporate attorney (Attorney Loans) totaling $300,000.
• In February 2025, the company entered into a Loan Agreement with its corporate attorney to convert $24,000 in trade payables into a demand promissory note.

Stakeholder Impact

• Shareholders may experience dilution if additional equity financing is pursued.
• The company's ability to continue as a going concern raises concerns for all stakeholders.
• The significant revenue decline and ongoing losses could impact employee compensation and job security.
• The company's reliance on a few key customers poses a risk to revenue stability, impacting all stakeholders.

Next Steps

• Expand adoption of the Company's technology platforms.
• Pursue strategic partnerships that extend the reach of its advertising ecosystem.
• Increase CMOne SaaS subscriptions.
• Grow programmatic advertising volumes through ATOS.
• Expand data intelligence products through MobiExchange.
• Develop specialized advertising environments such as casino gaming networks.
• Continue integration of artificial intelligence tools across its platform ecosystem.
• Manage operating expenses while preserving core operational capabilities.
• Seek additional capital raises through equity or debt financing.

Key Dates

Recommendation

The company's financial performance has significantly deteriorated, with a drastic revenue drop and continued operating losses. The auditor's statement regarding substantial doubt about the company's ability to continue as a going concern, coupled with the high volatility and penny stock status of its shares, presents significant risks to investors. While there are strategic initiatives in place, the immediate financial health and uncertain future outlook suggest a sell recommendation.

Keywords

Mobiquity Technologies, Form 10-K, Annual Report, Advertising Technology, Data Intelligence, Programmatic Advertising, ATOS Platform, MobiExchange, CMOne, Context Networks, Casino Advertising, Going Concern, Financial Results