LOBO TECHNOLOGIES LTD. Announces Fiscal Year 2025 Financial Results

WUXI, China, April 29, 2026 (GLOBE NEWSWIRE) -- LOBO TECHNOLOGIES LTD. (NASDAQ:LOBO) ("LOBO" or the "Company"), an innovative electric mobility vehicles manufacturer and seller, today announced its financial results for the fiscal year ended December 31, 2025.

Mr. Huajian Xu, Chief Executive Officer of LOBO, commented, "Fiscal year 2025 represents a year of steady progress alongside significant investment to support future expansion. Our 9.6% revenue growth, driven by strong double-digit growth in our core products—e-bicycles and e-tricycles—contributed to a 26.0% increase in gross profit and a stable gross margin at 13.14%, providing a solid foundation for expanded research and development (R&D) in new technologies and innovations.

During fiscal 2025, the Company invested $3.74 million in research and development, representing a year-over-year doubling of R&D spending and accounting for 16.11% of total revenue, a significant rise from 7.85% in fiscal 2024. This substantial and elevated investment underscores our "Four-New" strategic focus on new markets, new products, new materials, and new designs, as well as our commitment to new product development, continuous optimization, and ongoing exploration of new technologies. These next-generation capabilities are designed to elevate product performance, enhance user experience, strengthen market differentiation, and build a durable technical moat as the industry accelerates toward intelligent mobility.

Through continued investment in research, we are enhancing our ability to diversify our product portfolio and strengthen a resilient supply chain, positioning ourselves to navigate market changes, capture emerging opportunities, and expand into new segments and regions.

At the same time, our international sales network expanded significantly over the past year, reaching 150 dealers across approximately 60 countries, up from 50 dealers in fiscal year 2024. This milestone underscores our execution capabilities and validates the effectiveness of our global expansion strategy.

Meanwhile, our gross margin expanded year-over-year to 13.14%, reflecting improving operational efficiency, optimized product mix, and tighter cost controls. Compared with major domestic peers, we maintain a clear trajectory of margin improvement underpinned by our intelligent product strategy and lean supply chain management.

Backed by artificial intelligence empowerment, a foreign trade-focused business model, and strategic deployment of high-margin niche products, the Company maintains a distinct advantage in the pace of profit recovery. Our consistent improvement in gross profit, margin quality, and operating efficiency demonstrates the strengthening fundamentals of our business, accelerating our path to sustainable profitability while building lasting competitive advantages and enhancing investor confidence in our long-term value.

Looking ahead, we remain committed to disciplined execution and innovation to deliver sustainable value for our shareholders."

Fiscal Year 2025 Financial Highlights

• Revenues were $23.2 million in fiscal year 2025, an increase of 9.6% from $21.2 million in fiscal year 2024.
• Gross profit was $3.1 million in fiscal year 2025, an increase of 26.0% from $2.5 million in fiscal year 2024.
• Gross profit margin was 13.0% in fiscal year 2025, compared to 12.0% in fiscal year 2024.
• Net loss was $5.5 million in fiscal year 2025, compared to $0.8 million in fiscal year 2024.
• Basic and diluted loss per share were $0.52 in fiscal year 2025, compared to $0.11 in fiscal year 2024.
  
  
  
  

Fiscal Year 2025 Financial Results

Revenues

Revenues were $23.2 million in fiscal year 2025, an increase of 9.6% from $21.2 million in fiscal year 2024. The increase in revenues was primarily driven by the increase in electric vehicles and accessories sales.

• Revenue from two-wheeled e-bicycles was $13.1 million in fiscal year 2025, an increase of 23.6% from $10.6 million in fiscal year 2024.
• Revenue from two-wheeled e-mopeds was $37,111 in fiscal year 2025, a decrease of 86.1% from $266,962 in fiscal year 2024.
• Revenue from three-wheeled electric vehicles was $6.0 million in fiscal year 2025, an increase of 42.2% from $4.2 million in fiscal year 2024.
• Revenue from four-wheeled electric off-highway shuttles was $0.8 million in fiscal year 2025, an increase of 27.5% from $0.6 million in fiscal year 2024.
• Revenue from parts and accessories was $0.5 million in fiscal year 2025, a decrease of 57.8% from $1.2 million in fiscal year 2024.
  
  
  
  

Cost of Revenues

Cost of revenue was $20.1 million in fiscal year 2025, an increase of 7.4% from $18.7 million in fiscal year 2024. The percentage increase in cost of revenue was consistent with the 10.0% increase in revenues.

Gross Profit

Gross profit was $3.1 million in fiscal year 2025, an increase of 26.0% from $2.5 million in fiscal year 2024.

Operating Expenses

Total operating expenses were $7.1 million in fiscal year 2025, an increase of 62.5% from $4.4 million in fiscal year 2024.

• Selling and marketing expenses were $691,174 in fiscal year 2025, a decrease from $716,021 in fiscal year 2024.
• General and administrative expenses were $2.7 million in fiscal year 2025, an increase from $2.0 million in fiscal year 2024. The general and administrative expenses increased primarily due to the costs related to being a public company, including audit fees and consulting fees.
• Research and development expenses were $3.7 million in fiscal year 2025, an increase from $1.7 million in fiscal year 2024.
  
  
  
  

Net Loss

Net loss was $5.5 million in fiscal year 2025, compared to $0.8 million in fiscal year 2024.

Basic and Diluted Loss per Share

Basic and diluted loss per share were $0.52 in fiscal year 2025, compared to $0.11 in fiscal year 2024.

Financial Condition

As of December 31, 2025, the Company had cash and cash equivalents of $0.9 million, compared to $1.4 million as of December 31, 2024.

Net cash used in operating activities was $1.7 million in fiscal year 2025, compared to $2.9 million in fiscal year 2024.

Net cash used in investing activities was $0.7 million in fiscal year 2025, compared to $0.3 million in fiscal year 2024.

Net cash provided by financing activities was $1.4 million in fiscal year 2025, compared to $4.6 million in fiscal year 2024.

About LOBO TECHNOLOGIES LTD.

LOBO TECHNOLOGIES LTD. (NASDAQ:LOBO) is a manufacturer of electric mobility products. As a technology-driven company, LOBO focuses on the development and production of environmentally friendly mobility solutions and smart devices. Its product portfolio includes electric bicycles, electric motorcycles, electric tricycles, electric off-road vehicles (such as golf carts and mobility scooters), solar-powered vehicles, and other intelligent products.

LOBO is committed to promoting sustainable transportation through advanced technologies, with the goal of reducing carbon emissions and improving energy efficiency.

For more information, please visit: www.loboebike.com.

Forward-Looking Statements

This announcement contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this announcement. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report for the fiscal year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (the "SEC") on April 28, 2026, and other filings with the SEC.

For more information, please contact:

LOBO TECHNOLOGIES LTD.

Zane Xu

Investor Relations Manager

Email: ir@loboai.com

Ascent Investor Relations LLC

Tina Xiao

Tel: +1-646-932-7242

Email: investors@ascent-ir.com

LOBO TECHNOLOGIES LTD CONSOLIDATED BALANCE SHEETS (In U.S. dollars except for number of shares)
	As of
	December 31,				December 31,
	2025				2024
Assets
Current assets:
Cash and cash equivalents	$	908,341			$	1,379,434
Restricted cash		-				510,156
Accounts receivable, net		3,107,520				1,506,894
Inventories, net		9,698,754				8,592,767
Short-term investments		747,709				-
Prepaid expenses and other current assets		3,366,882				7,689,423
Assets held for sale		-				1,527,589
Total current assets		17,829,206				21,206,263
Property and equipment, net		1,097,411				728,438
Intangible assets, net		308,553				871,044
Operating lease right-of-use assets, net		1,014,161				1,037,883
Deferred tax assets		247,309				175,960
Total Assets		20,496,640				24,019,588
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	1,768,339			$	2,217,720
Advances from customers		2,067,018				1,843,976
Other current payables		3,360,773				1,798,252
Taxes payable		1,414,938				934,158
Amounts due to related parties		38,564				712,410
Short-term loans		2,968,491				132,777
Convertible note payable, net		-				12,820
Liabilities held for sale		-				5,486,344
Operating lease liabilities, current		1,233,892				768,544
Total current liabilities		12,852,015				13,907,001
Long-term loans		95,441				236,513
Deferred tax liabilities		151,308				-
Operating lease liabilities, non-current		410,572				554,366
Total liabilities		13,509,336				14,697,880
Equity:
Ordinary shares (US$0.001 par value per share; Nil and 50,000,000 shares authorized as of December 31, 2025 and 2024; Nil and 8,630,000 shares issued as of December 31, 2025 and 2024, respectively; Nil and 7,780,000 shares outstanding as of December 31, 2025 and 2024, respectively)		-				8,630
Class A ordinary shares (US$0.001 par value per share; 90,000,000 and nil shares authorized as of December 31, 2025 and 2024; 8,838,194 and nil shares issued and outstanding as of December 31, 2025 and 2024, respectively)		8,839				-
Class B ordinary shares (US$0.001 par value per share; 10,000,000 and nil shares authorized as of December 31, 2025 and 2024; 3,730,320 and nil shares issued and outstanding as of December 31, 2025 and 2024, respectively)		3,730				-
Additional paid-in capital		10,804,674				8,781,273
(Accumulated deficit)/Retained earnings		(3,795,004	)			644,930
Accumulated other comprehensive loss		(199,379	)			(577,762	)
Statutory reserve		164,444				464,637
Total LOBO Technologies LTD's shareholders' equity		6,987,304				9,321,708
Total Equity		6,987,304				9,321,708
Total Liabilities and Equity	$	20,496,640			$	24,019,588

The Pre-delivery of 850,000 ordinary shares were not considered outstanding as of December 31, 2024.

LOBO TECHNOLOGIES LTD CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (In U.S. dollars except for number of shares)
	For the years ended
	December 31,
	2025				2024				2023
Revenues	$	23,217,642			$	21,188,606			$	15,474,918
Cost of revenues		20,122,013				18,731,995				13,266,821
Gross Profit		3,095,629				2,456,611				2,208,097
Operating expenses
Selling and marketing expenses		691,174				716,021				610,487
General and administrative expenses		2,717,575				2,020,003				516,187
Research and development expenses		3,740,163				1,663,445				262,375
Total operating expenses		7,148,912				4,399,469				1,389,049
Operating (loss)/income		(4,053,283	)			(1,942,858	)			819,048
Other (expenses)/income
Interest expense		(1,744,361	)			(20	)			(7,508	)
Gain on disposal of subsidiaries		50,907				836,112				-
Other income		356,127				380,892				519,784
Total other (expenses)/income, net		(1,337,327	)			1,216,984				512,276
(Loss)/Income before income tax expense		(5,390,610	)			(725,874	)			1,331,324
Income tax expense		86,085				119,967				344,853
Net (loss)/income		(5,476,695	)			(845,841	)			986,471
Net (loss)/income		(5,476,695	)			(845,841	)			986,471
Less: Net income/(loss) attributable to non-controlling interest		-				33,005				(16,873	)
Net (loss)/income attributable to LOBO Technologies LTD		(5,476,695	)			(812,836	)			969,598
Net (loss)/income		(5,476,695	)			(845,841	)			986,471
Foreign currency translation adjustments		378,383				(204,541	)			(187,459	)
Total comprehensive (loss) income		(5,098,312	)			(1,050,382	)			799,012
Less: Comprehensive net income/(loss) attributable to non-controlling interest		-				37,574				(12,304	)
Total comprehensive (loss) income attributable to LOBO Technologies LTD	$	(5,098,312	)			(1,012,808	)			786,708
Net (loss)/income per share, basic and diluted	$	(0.52	)		$	(0.11	)			0.15
Weighted average shares outstanding, basic and diluted		10,436,753				7,478,361				6,400,000

LOBO TECHNOLOGIES LTD CONSOLIDATED STATEMENTS OF CASH FLOWS
	For the years ended December 31,
	2025			2024			2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)/income	(5,476,695	)		(845,841	)		986,471
Adjustment to reconcile net (loss)/income to net cash used in operating activities
Depreciation and amortization	710,476			1,004,089			722,778
Gain on disposal of property and equipment	-			(17,815	)		-
Realized and unrealized gain on short-term investments	(270,011	)		(15,632	)		-
Class A ordinary shares issued for consulting services	1,076,875			-			-
Loss on sale of long-term investments	-			-			13,319
Amortization of operating lease right-of-use assets	428,072			370,283			181,791
Gain on disposal of subsidiaries	(50,907	)		(836,112	)		-
Unrealized loss on assets held for sale	-			455,938			-
Amortization of convertible note issuance costs	1,634,150			11,970			-
Changes in operating assets and liabilities
Accounts receivable	(1,493,138	)		617,183			437,684
Inventories	(710,006	)		(4,658,182	)		(2,038,096	)
Prepaid expenses and other current assets	4,510,096			(2,426,075	)		(4,021,436	)
Deferred tax assets	(61,923	)		(178,494	)		-
Deferred tax liabilities	147,216			-			-
Accounts payable	(533,286	)		1,386,960			(816,530	)
Advance from customers	138,452			363,803			1,409,334
Other current payables	(2,074,303	)		1,241,012			(42,482	)
Taxes payable	427,980			923,896			1,871,485
Operating lease liabilities	(104,277	)		(332,159	)		(120,936	)
Net cash used in operating activities	(1,701,229	)		(2,935,176	)		(1,416,618	)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest-free loans to related parties	-			-			(16,896,831	)
Interest-free loans repaid by related parties	-			-			20,319,617
Purchase of short-term investment	(4,424,736	)		(125,075	)		(70,275	)
Sales of short-term investment	3,959,958			71,869			-
Proceeds from disposal of subsidiaries	208,696			94,640			-
Purchase of property and equipment	(427,099	)		(325,257	)		(314,197	)
Purchase of intangible assets	(2,363	)		-			(985,995	)
Additional consideration paid for reorganization	-			-			(1,437,646	)
Net cash (used in)/provided by investing activities	(685,544	)		(283,823	)		614,673
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds of interest-free loans from related parties	1,382,936			8,747,287			4,811,327
Repayments of interest-free loans to related parties	(2,629,958	)		(9,246,025	)		(3,658,828	)
Proceeds from issuance of convertible bonds, net of issuance costs	-			1,500,850			-
Repayments of short-term loans	(793,043	)		-			(197,715	)
Proceeds of long-term loans	-			239,919			141,225
Proceeds from short-term loans	3,533,913			190,277			-
Proceeds from issuance of ordinary shares	-			3,180,963			-
Payment for repurchase of Class A ordinary shares	(74	)		-			-
Repayments of long-term loans	(134,842	)		-
Net cash provided by financing activities	1,358,932			4,613,271			1,096,009
Effect of exchange rate changes on cash and cash equivalents	46,592			24,983			(6,558	)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(981,249	)		1,419,255			287,506
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year	1,889,590			470,335			182,829
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of year	908,341			1,889,590			470,335
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year
Cash, cash equivalents	1,379,434			470,335			182,829
Restricted cash	510,156			-			-
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year	1,889,590			470,335			182,829
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of year
Cash, cash equivalents	908,341			1,379,434			470,335
Restricted cash	-			510,156			-
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of year	908,341			1,889,590			470,335
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid during the year for:
Income taxes	-			(657	)		(239	)
Interest	49,713			20			408
NON-CASH TRANSACTIONS
Addition of right-of-use assets	360,775			999,805			273,334
Other payables released from the sale of property and equipment	-			19,456			-
Fair value adjustment for Pre-Delivery ordinary shares related to the issuance of convertible notes	-			1,499,150			-
Other payables released from the sale of subsidiaries	3,547,826			1,183,624			-
Class A ordinary shares issued upon conversion of convertible note payable and accrued interest	1,687,108			-			-
Debt offsetting with related party and third party	293,061			-			-