[First Quarter 2025 and Recent Highlights](index=1&type=section&id=First%20Quarter%202025%20and%20Recent%20Highlights) Sonim Technologies achieved $16.7 million revenue in Q1 2025, a 12% sequential increase, with $0.5 million GAAP net income Q1 2025 Key Financial Metrics | Metric | Q1 2025 (in millions) | Q4 2024 (in millions) | Change | | :--- | :--- | :--- | :--- | | Net Revenue | $16.7 million | $15.0 million | +12% Sequential | | GAAP Net Income (Loss) | $0.5 million | ($21.6 million) | Significant Improvement | | Adjusted EBITDA | ($3.2 million) | ($16.6 million) | Significant Improvement | - **Raised $6.5 million** in capital through ATM sales and debt issuance to expand product offerings and finance European expansion[3](index=3&type=chunk) - **Positioned for growth** in 2025 with new product launches, including the XP Pro Thermal 5G smartphone, and continued expansion in Europe[3](index=3&type=chunk) - Set to launch five new products in Q2 through Tier 1 carriers and global partners[3](index=3&type=chunk) - **Enhanced partnerships** with major carriers, earning Verizon Frontline Verified status for the XP Pro 5G and Sonim H500, and launching the XP3plus 5G at T-Mobile[3](index=3&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) CEO Peter Liu highlighted expanded sales via new product launches with North American and European carriers, affirming positive results - The company is **focused on expanding its sales base** by launching new products with carriers in North America and Europe[5](index=5&type=chunk) - Management confirms that strategic investments in new products are **delivering results**, with more carriers and distributors offering Sonim products[5](index=5&type=chunk) [First Quarter 2025 Financial Performance](index=2&type=section&id=First%20Quarter%202025%20Financial%20Performance) Q1 2025 revenue increased to $16.7 million, achieving $0.5 million net income and 50% gross margin, driven by allowance expiration and R&D reduction Financial Performance: Q1 2025 vs. Q4 2024 | Metric | Q1 2025 (in millions) | Q4 2024 (in millions) | | :--- | :--- | :--- | | Revenue | $16.7 million | $15.0 million | | Gross Profit (Loss) | $8.4 million | ($0.2 million) | | Gross Margin | 50% | -1% | | Operating Expenses | $7.7 million | $21.9 million | | Net Income (Loss) | $0.5 million | ($21.6 million) | - Q1 2025 revenue included **$5.3 million** related to the expiration of customer allowance agreements, which also significantly boosted gross profit[6](index=6&type=chunk)[7](index=7&type=chunk) - Operating expenses decreased primarily because R&D costs fell by **$10.9 million** due to the completion of development for new products in 2024[8](index=8&type=chunk) [Financial Condition and Liquidity](index=3&type=section&id=Balance%20Sheet%20and%20Working%20Capital) Sonim ended Q1 2025 with $2.1 million cash, $4.8 million receivables, and $8.6 million inventory, strengthening its financial position Key Balance Sheet Items (as of March 31, 2025) | Account | Amount (in millions) | | :--- | :--- | | Cash | $2.1 million | | Trade Accounts Receivable | $4.8 million | | Inventory | $8.6 million | - Subsequent to quarter end, the company received net proceeds of **$4.5 million** from sales of common stock through its At-The-Market (ATM) program[11](index=11&type=chunk) [Financial Statements](index=4&type=section&id=Financial%20Statements) This section presents Sonim's condensed consolidated financial statements, detailing the company's financial position and performance Condensed Consolidated Balance Sheets](index=4&type=section&id=CONDENSED%20CONSOLIDATED%20BALANCE%20SHEETS) As of March 31, 2025, total assets were $36.0 million, total liabilities $37.0 million, with stockholders' deficit improving to $1.1 million Balance Sheet Summary (in thousands) | Account | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | Total Current Assets | $26,935 | $32,165 | | **Total Assets** | **$35,958** | **$39,739** | | Total Current Liabilities | $34,677 | $43,740 | | **Total Liabilities** | **$37,037** | **$45,439** | | **Total Stockholders' Equity (Deficit)** | **($1,079)** | **($5,700)** | Condensed Consolidated Statements of Operations](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) For Q1 2025, total net revenues were $16.7 million, resulting in a net income of $0.5 million ($0.08 diluted EPS) Statement of Operations Summary (in thousands, except per share data) | Metric | Q1 2025 (in thousands) | Q1 2024 (in thousands) | | :--- | :--- | :--- | | Total Net Revenues | $16,721 | $16,776 | | Gross Profit | $8,356 | $2,902 | | Income (Loss) from Operations | $645 | ($2,689) | | **Net Income (Loss)** | **$458** | **($2,906)** | | **Diluted EPS** | $0.08 | ($0.65) | [Non-GAAP Financial Measures](index=6&type=section&id=Non-GAAP%20Financial%20Measures) Sonim uses Adjusted EBITDA, a non-GAAP measure, to assess operating performance by excluding non-cash and non-recurring items - Adjusted EBITDA is defined as net loss adjusted for stock-based compensation, depreciation & amortization, interest, taxes, expiration of customer allowance agreements, impairment of assets, and restructuring charges[20](index=20&type=chunk) - The company uses Adjusted EBITDA internally for performance assessment, planning, resource allocation, and evaluating business strategies[21](index=21&type=chunk) Reconciliation of Net Income (Loss) to Adjusted EBITDA](index=6&type=section&id=Reconciliation%20of%20Net%20Income%20%28Loss%29%20to%20Adjusted%20EBITDA) Adjusted EBITDA for Q1 2025 improved to negative $3.2 million from negative $16.6 million in Q4 2024 Reconciliation to Adjusted EBITDA (in thousands) | Line Item | Q1 2025 (in thousands) | Q4 2024 (in thousands) | | :--- | :--- | :--- | | Net Income (Loss) | $458 | ($21,614) | | Release of customer allowance liabilities | ($5,271) | — | | Impairment of contract fulfillment assets | — | $3,267 | | Restructuring charges | — | $514 | | **Adjusted EBITDA** | **($3,245)** | **($16,604)** |

Core Insights - Sonim Technologies is executing its expansion strategy effectively, showing strong momentum in the second quarter of 2025, with a focus on long-term growth and operational excellence [1][2] - The company has laid a solid foundation through strategic investments in 2024, leading to new product development, customer acquisitions, and market expansion across multiple regions [1][2] Product Launches - Sonim plans to launch three new products, including the flagship Sonim XP Pro rugged 5G smartphone, in North America with Tier 1 carriers during the second quarter [3] - Additionally, three more products are set to launch with leading distribution partners and Tier 1 operators, including Deutsche Telekom in Germany, enhancing Sonim's presence in key markets [4] - Purchase orders have already been placed for these upcoming product launches, indicating strong market demand [5] Enterprise Customer Growth - The company is successfully attracting and retaining enterprise customers, securing major upgrade agreements with leading Fortune 500 companies, including two of the top 10 healthcare systems in the U.S. and a large integrated energy infrastructure company [6] Manufacturing and Supply Chain - Sonim has diversified its manufacturing options outside of China, with production of next-generation 5G products based in Taiwan and Vietnam, which helps in cost optimization and risk mitigation [7] - This proactive move minimizes the impact of tariffs on new products, demonstrating the company's commitment to maintaining a robust supply chain [9]

Core Viewpoint - Sonim Technologies has engaged Shareholder Intelligence Services, LLC to enhance shareholder protection and maximize shareholder value through advanced trading analytics and corporate governance support [1][2][3]. Group 1: Engagement with Shareholder Intelligence Services - The partnership with ShareIntel aims to improve corporate governance, strengthen shareholder communication, and ensure regulatory compliance [2][3]. - ShareIntel's services will allow Sonim to monitor trading activities and identify potential anomalies or SEC violations, thereby enhancing investor confidence [3]. Group 2: About Shareholder Intelligence Services - Shareholder Intelligence Services, LLC provides a compliance-driven SaaS platform that aggregates and analyzes shareholder trading data, helping public companies manage investor relations and fulfill fiduciary responsibilities [4]. Group 3: About Sonim Technologies - Sonim Technologies is a leading provider of rugged mobile solutions, including phones and data devices, catering to sectors that require high durability, such as first responders and Fortune 500 companies [5]. - The company has been operational since 1999 and distributes its products through tier one wireless carriers and distributors across North America, EMEA, and Australia/New Zealand [5].

Core Viewpoint - Sonim Technologies, Inc. has received an unsolicited non-binding proposal from Orbic North America, LLC to acquire all outstanding shares for $4.00 per share in cash [1] Group 1: Proposal Details - The proposal from Orbic is for $4.00 per share in cash [1] - Sonim has established a Special Committee of independent directors to review and evaluate the proposal [2] - The Special Committee is committed to a thorough assessment and exploring all strategic alternatives to act in the best interests of shareholders [2] Group 2: Company Commitment - The Sonim Board and management emphasize their commitment to delivering long-term value for shareholders [3] - The company appreciates Orbic's offer and will evaluate the proposal alongside other feasible options [3] - There is no assurance that the evaluation will lead to a transaction, and Sonim will not comment further unless deemed necessary [3] Group 3: Company Overview - Sonim Technologies is a leading provider of rugged mobile solutions, including phones and wireless internet devices, designed for durability [4] - The company has been trusted by first responders, government, and Fortune 500 customers since 1999 [4] - Sonim's products are sold through tier one wireless carriers and distributors across North America, EMEA, and Australia/New Zealand [4]

Financial Results - Sonim Technologies, Inc. announced unaudited preliminary financial results for the fiscal quarter ended December 31, 2024[4]. Company Information - The company is listed on the Nasdaq Stock Market under the trading symbol SONM[2]. - The report was signed by Chief Financial Officer Clay Crolius on January 16, 2025[9].

Core Viewpoint - Sonim Technologies, Inc. reported financial results for Q4 and full year 2024, highlighting revenue growth driven by new product adoption and market expansion, despite a year-over-year revenue decline for the full year [1][5]. Financial Highlights - Q4 2024 revenue increased by 12% year-over-year to $15.0 million, while full-year revenue decreased by 38% to $58.3 million [5]. - Gross margin for Q4 was negative 1%, and for the full year, it was 17%, impacted by a $3.0 million impairment charge [5]. - R&D expenses rose in 2024 due to investments in new product development and upgrades [5]. - The company ended 2024 with $5.3 million in cash, $4.3 million in trade accounts receivable, and $10.6 million in inventory [5]. Business Highlights - Sonim introduced innovative products in the rugged mobility market, enhancing its leadership in key verticals and regions [4]. - The company secured a new enterprise customer in the healthcare sector with a 4,000-unit feature phone agreement [9]. - Major agreements were made with Fortune 500 companies for next-generation device upgrades [9]. 2025 Outlook - The company anticipates growth in revenue, gross margin, and profitability as its product portfolio scales globally [6]. - Demand for 5G and rugged solutions is expected to accelerate, positioning Sonim to serve high-value industries [6].

AJP Holding Company, LLC Announces Director Candidates for the Board of Sonim Technologies, Inc.AJP Holding Company, LLC Intends to Nominate, on behalf of itself and on behalf of Orbic North America, LLC, 5 Highly Qualified Candidates with Best-in-Class Experience in 4G/5G Connected Devices, Technology, Manufacturing, Hardware, Software, Sales, Strategy, Operations and FinanceMarch 21, 2025 4:13 PM EDT | Source: Orbic North AmericaHauppauge, New York--(Newsfile Corp. - March 21, 2025) - AJP Ho ...

Sonim XP Pro 5G and H500 5G Now Verizon Frontline VerifiedRugged, reliable, and TAA compliant, these mission-critical devices are purpose-built to meet the demands of government and frontline heroes.This release corrects and replaces the press release that was issued by Sonim Technologies, Inc., on March 20th, 2025. Updated quote attribution.San Diego, California and Basking Ridge, New Jersey--(Newsfile Corp. - March 20, 2025) - Sonim Technologies (NASDAQ: SONM) today announced that the XP Pro 5G rugged sm ...

Sonim XP Pro 5G and H500 5G Now Verizon Frontline VerifiedRugged, reliable, and TAA compliant, these mission-critical devices are purpose-built to meet the demands of government and frontline heroes.San Diego, California and Basking Ridge, New Jersey--(Newsfile Corp. - March 20, 2025) - Sonim Technologies (NASDAQ: SONM) today announced that the XP Pro 5G rugged smartphone and H500 5G rugged mobile hotspot have achieved Verizon Frontline Verified status. This milestone solidifies their place as essential, b ...

Core Points - Sonim Technologies has launched the XP3plus 5G, an ultra-rugged flip phone designed for first responders, government, and enterprise users, now available at T-Mobile with certification for T-Priority [1][3] - The XP3plus 5G features a Qualcomm SM4450 5G chipset, a larger display, and a 3000mAh removable battery, providing up to 30 hours of talk time, along with 4GB DDR4 RAM and 32GB eMMC storage expandable up to 512GB via MicroSD [2][4] - The device is built to meet Sonim's Rugged Performance Standards, exceeding IP68 and military durability standards (MIL-STD-810H), and is submersion-proof up to 5 feet for 30 minutes [5][9] Product Features - The XP3plus 5G is available in two configurations: one with a camera for field documentation and one without for security in sensitive environments [3][4] - It includes superior audio quality with a 100dB+ ultra-loud speaker and dual microphones for noise and echo cancellation, making it suitable for noisy environments [6] - The phone is designed for ease of use with tactile, glove-friendly Push-to-Talk (PTT) and SOS buttons, enhancing functionality in various use cases [6] Market Positioning - The XP3plus 5G is aimed at mission-critical professionals who require secure, dependable, and simple communication tools, addressing the growing demand for distraction-free productivity [4] - Sonim Technologies emphasizes reducing the total cost of ownership with a 3-year comprehensive warranty and a suite of software tools to enhance productivity and device management [4][11] - The company has established a robust ecosystem of accessories to support the XP3plus 5G, including vehicle mounts and rugged headsets, facilitating seamless integration into diverse workflows [4]