olivLaw · US equity research
Mobia Medical, Inc. MOBI
Surgical & Medical Instruments & Apparatus · SIC 3841 · Vertical: Surgical & Medical Instruments & Apparatus (SIC 3841)
Mobia Medical develops the Vivistim Paired VNS system, the only implantable device FDA-approved for upper limb recovery in chronic ischemic stroke survivors. Revenue has more than doubled and the company raised capital in its May 2026 IPO, and the pace of therapy adoption at stroke centers is central to the business, with second quarter 2026 revenue of 13.5 million USD.
At the close of 02 Nov 2026, Mobia Medical, Inc. (MOBI) stock was 10.07 USD (−4.82% on the day), with beta 0.07, 52-week range 8.09–14.63 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 51.1
- neutral
- Bollinger (20, 2)
- 7.22 – 11.82
- in the upper half of the band · %B 0.62 · band width 48.3%
- SMA 50 / 200
- 10.00 / unavailable
- MACD (12, 26, 9)
- 0.33 / 0.13
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +9.7% | −2.3% | +12.0 pp | — |
| 3 months | −11.3% | −0.8% | −10.5 pp | — |
| 6 months | unavailable | +4.7% | unavailable | — |
| Year to date | unavailable | +10.2% | unavailable | — |
| 1 year | unavailable | +10.3% | unavailable | −15.5% |
| 3 years | unavailable | +73.0% | unavailable | −10.3% |
| 5 years | unavailable | +61.8% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
unavailable
Reported results vs expectations
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Balance sheet & financial health
Valuation
unavailable
Versus the vertical median
Surgical & Medical Instruments & Apparatus (SIC 3841) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SYKStryker Corp | 116.8 bn | 32.7 | 16.0% | 13.8% | +11.2% | −17% / +4% |
| MMM3m Company | 92.2 bn | 26.6 | 80.8% | 14.0% | +1.5% | +4% / +115% |
| BSXBoston Scientific Corporation | 64.2 bn | 18.8 | 14.3% | 16.6% | +19.9% | −56% / −21% |
| BDXBecton, Dickinson And Company | 54.1 bn | 60.0 | 3.8% | 4.0% | +8.2% | +30% / +7% |
| RMDResMed Inc. | 32.8 bn | 21.2 | 26.4% | 27.8% | +9.9% | −9% / +48% |
| DXCMDexcom, Inc. | 31.6 bn | 33.4 | 37.7% | 19.4% | +15.6% | +34% / −27% |
| WSTWest Pharmaceutical Services, Inc. | 28.4 bn | 45.8 | 21.2% | 18.8% | +6.3% | +47% / +16% |
| PENPenumbra, Inc | 12.7 bn | 80.9 | 10.7% | 10.1% | +17.5% | +10% / +45% |
| TFXTeleflex Incorporated | 6.0 bn | — | -28.9% | -45.8% | +17.2% | +23% / −38% |
| HAEHaemonetics Corporation | 5.5 bn | 58.7 | 11.2% | 7.1% | −2.0% | +48% / +49% |
| MMEDMiniMed Group, Inc. | 5.3 bn | — | -8.6% | -9.6% | +14.3% | unavailable / unavailable |
| HTFLHeartflow, Inc. | 4.7 bn | — | — | -55.8% | +39.9% | +69% / unavailable |
| PLSEPulse Biosciences, Inc. | 3.8 bn | — | -78.5% | -6,755.8% | unavailable | +286% / +486% |
| ATRCAtriCure, Inc. | 3.0 bn | 289.8 | 2.2% | 1.9% | +14.9% | +66% / +69% |
| LMATLemaitre Vascular, Inc. | 1.9 bn | 28.5 | 16.8% | 25.0% | +13.5% | −2% / +54% |
| ATECAlphatec Holdings, Inc. | 1.1 bn | — | -1,888.0% | -10.3% | +25.0% | −68% / −38% |
| PRCTPROCEPT BioRobotics Corporation | 1.1 bn | — | -30.2% | -32.5% | +37.2% | −39% / −48% |
| DCTHDelcath Systems, Inc. | 495.8 m | 1,152.7 | 0.5% | 0.6% | +129.1% | +47% / +420% |
| SSIISs Innovations International, Inc. | 462.9 m | — | -26.1% | -23.7% | +105.7% | −66% / unavailable |
| EMBCEmbecta Corp. | 350.7 m | 4.2 | — | 8.6% | −3.8% | −51% / −66% |
| CLPTClearPoint Neuro, Inc. | 318.9 m | — | -167.5% | -79.4% | +17.8% | −31% / +73% |
| INFUInfusystem Holdings, Inc | 275.7 m | 34.0 | 15.0% | 6.0% | +6.4% | +49% / +38% |
| ANIKAnika Therapeutics, Inc. | 259.8 m | — | -2.7% | -3.1% | −5.9% | +96% / −11% |
| UTMDUtah Medical Products, Inc. | 224.6 m | 21.5 | 8.8% | 29.0% | −5.8% | +25% / −16% |
| TLSITriSalus Life Sciences, Inc. | 223.5 m | — | — | -62.6% | +53.4% | −47% / −9% |
1- and 3-year price returns: for MOBI from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Mobia Medical develops the Vivistim Paired VNS system, the only implantable device FDA-approved for upper limb recovery in chronic ischemic stroke survivors. Revenue has more than doubled and the company raised capital in its May 2026 IPO, and the pace of therapy adoption at stroke centers is central to the business, with second quarter 2026 revenue of 13.5 million USD.
SWOT
Strengths
- The product is the only FDA-approved option for this clinical indication, supported by published two-year clinical data.
- Gross margins are high and have held steady across recent reported periods.
- The IPO provided fresh capital that gives the company time to build its commercial reach.
Weaknesses
- The net loss remains large because commercial spending is growing faster than revenue.
- The company depends on a single product and on third-party contract manufacturers.
- Revenue is concentrated in a limited number of hospitals with stroke units.
Opportunities
- Expansion into more stroke centers and rehabilitation hospitals could increase volume.
- If clinical data are adopted into practice guidelines, therapy could become a standard of care.
- The chronic post-stroke recovery market is, by the company's estimate, very large and underserved.
Threats
- Slow hospital adoption of therapy could slow revenue growth.
- Tariff and freight cost pressures may continue to weigh on gross margin.
- Other manufacturers could enter the market if therapy gains broader recognition.
Risks
- Single-product dependencehigh
All revenue comes from the Vivistim system, so any regulatory, safety or demand problem would affect the whole company.
- Persistent operating losseshigh
High commercial spending keeps the net loss large, and the company will need sustained revenue growth to narrow it.
- Reliance on external suppliersmedium
Manufacturing is outsourced, which could create supply interruptions or cost increases if partners cannot deliver the required volume.
- Hospital adoptionmedium
Success depends on integrating therapy into stroke-center protocols, a process that can be slow and hard to control.
- Tariffs and freight costslow
Freight and tariff costs have already affected cost of goods sold, and the pressure could continue.
Investment thesis
What would need to be true (bull case)
- Rapid revenue growth and a high gross margin could show that the product has a clear advantage in treatment settings.
- Two-year clinical data and FDA approval provide a credible basis for expansion into hospitals.
- Capital from the 2026 IPO gives the company time to build commercial reach without urgent financing.
What would break the thesis
- The net loss remains large, and slower growth than estimated would extend the period of losses.
- The business depends on a single product and on adoption across a limited number of stroke centers.
- Market size estimates come from the company and may be more optimistic than clinical and economic reality.
What to watch
- Delivery against the full-year 2026 revenue guidance2026
- Gross margin trend after freight and tariff costsQ3 2026
- Growth rate of commercial spending relative to revenuenext 10-Q
- Number of stroke centers integrating therapy into standard protocols2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Mobia Medical is a commercial-stage medical device company focused on stroke recovery for survivors with severe motor impairments. Its main product, the Vivistim Paired VNS system, combines vagus nerve stimulation with functional movement, with the device implanted and activated during therapy 1. The company sells the system mainly to hospitals with stroke units and works with third-party contract manufacturers, which limits its capital investment needs 1.
In the second quarter of 2026, revenue was 13.5 million USD with a gross margin of 83.2%, and the net loss was 21.0 million USD 2. For full-year 2026, the company guided to revenue of 54.0 to 56.0 million USD 2. The loss reflects heavy commercial spending to widen the sales organization, a typical stage for a company building its market.
The company completed its IPO in May 2026 with net proceeds of about 134.0 million USD, and held 177.1 million USD in cash on June 30, 2026 2. Newly appointed board members bring medtech operating and clinical experience, and stated plans aim to broaden reach and accelerate patient access to therapy 2.
Segments
Vivistim Paired VNS system
This is the company's only commercial product and the only reported source of revenue, consisting of an implanted pulse generator and lead that stimulate the vagus nerve during functional movement 1. Sales are driven by adoption at stroke centers, and higher unit volume of IPG devices sold contributed to the revenue doubling 2.
Therapy and associated services
Vivistim therapy includes provider education, care programs and patient outreach, through which the company aims to build steady referral flows 1. These activities are not reported separately, but they directly shape demand for the device.
Market context
The company estimates that approximately 87% of strokes in the United States are ischemic, which implies around 9 million ischemic stroke survivors, of whom more than 4 million have upper extremity impairments 1. The initial market, made up of about 1 million patients able to undergo therapy, is estimated at over 30 billion USD based on average selling price 1. There are about 1,500 primary and comprehensive stroke centers in the United States, and most acute cases are treated at roughly 900 hospitals 1.
The estimated market size depends on how quickly stroke centers integrate therapy into standard protocols, and these figures are the company's own estimates rather than independent data 1. If adoption stays slow, revenue could grow more slowly than management expects.
Trends
- Expanding hospital coveragetailwind
The company works with stroke centers to make therapy part of standard discharge care, which could support long-term revenue growth 1.
- Two-year clinical datatailwind
Publication in Neurology of two-year follow-up data from the VNS-REHAB study may support clinician and therapist adoption 12.
- Freight and tariff costsheadwind
Freight and tariff costs were recognized in cost of goods sold in the second quarter and offset part of the gross margin gain 2.
- Rising commercial spendingmixed
Operating expenses grew faster than revenue due to commercial personnel and commissions, keeping the net loss high until volume catches up 2.
Competitive position
The company describes Vivistim as the only clinically validated, FDA-approved solution for this indication, so direct competition is currently limited 12. Indirect competition comes from conventional rehabilitation therapies and other interventions aimed at improving motor function after stroke.
The company describes the chronic stroke recovery market as underserved, which gives it a first-mover position but also invites other manufacturers to enter if clinical evidence expands 1. The sources do not identify other listed competitors.
- Conventional neurological rehabilitation therapies
Physical and occupational therapy are the standard alternative for patients with post-stroke motor deficits, with no implanted device.
- Neuromuscular stimulation devices
Non-invasive neurostimulation devices or other electrical therapies could compete for the same patient population.
- Post-stroke therapy providers
Rehabilitation centers and therapy services are both partners and decision-makers in choosing treatment.
- Other neuromodulation device makers
Companies developing vagus nerve stimulation or other technologies could enter chronic recovery if clinical evidence broadens.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (amendment)16 Oct 2026Departure or appointment of officers
- Current report (amendment)16 Oct 2026Departure or appointment of officers
- Quarterly report11 Aug 2026
- Current report11 Aug 2026Results of operations · Financial statements and exhibits
- Current report03 Aug 2026Departure or appointment of officers
- Current report15 Jul 2026Departure or appointment of officers
- Quarterly report04 Jun 2026
- Current report11 May 2026Amendments to articles or bylaws · Financial statements and exhibits
Sources
- [1] Form 10-Q, quarter ended 2026-06-30 · SEC / Mobia Medical, Inc. · 11 Aug 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Mobia Medical, Inc. · 11 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.