Why Mobilicom Stock Is Soaring Monday

Mobilicom Limited MOB shares are soaring on Monday after the company announced a commercial scale purchase order from Teledyne-FLIR TDY for the production of drones for the U.S. Department of Defense (DOD).

The Details:

Mobilicom announced its largest purchase order to date from Teledyne-FLIR. The purchase order is for the company's SkyHopper PRO systems which Teledyne-FLIR will integrate into small-sized drones manufactured for the U.S. Department of Defense (DOD). The financial terms of the deal were not disclosed, and delivery of the SkyHopper PRO systems to Teledyne-FLIR is expected during 2023.

"As Teledyne-FLIR continues to win additional orders for its small-sized drone platforms with end users such as the U.S. DOD, other federal agencies, and commercial customers, Mobilicom is well positioned for more sales of its Skyhopper Pro," stated Oren Elkayam, Mobilicom CEO.

"We see the sales of these systems to the U.S. DOD, one of the largest and most selective procurers of technology, as a strong testament to the excellence of Mobilicom's market leading end-to-end solutions."

Mobilicom provides cybersecurity and robust solutions for drones and robotics primarily targeting global drone, robotics and autonomous system manufacturers.

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MOB Price Action: According to Benzinga Pro, Mobilicom shares are trading 102% at $3.03 at the time of publication.

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