Core Insights - Sonim Technologies, Inc. has launched the Sonim Spot™ H500 5G mobile hotspot in Canada, targeting prosumers, consumers, students, enterprises, and mission-critical professionals [2][3] - The device combines Wi-Fi 6E and 5G technologies, emphasizing rugged durability and reliability for various demanding environments [3][8] Product Features - The Spot H500 is built to military specifications (MIL-STD 810H) and is rated IP68 for water and dust protection, making it suitable for extreme conditions [5][12] - It supports multiple Wi-Fi standards across 2.4GHz, 5GHz, and 6GHz bands, allowing connection for up to 343 devices [9][12] - The device is powered by a 6000mAh battery, providing all-day battery life and quick charging capabilities [10][12] - Enhanced connectivity options include ethernet wired connectivity and external antenna support for improved 5G reception [18][12] - The user-friendly touchscreen interface simplifies connection management and data usage monitoring [19] Market Strategy - The launch represents a strategic expansion into the Canadian market, enhancing Sonim's presence in North America [3] - The Spot H500 is available through major carriers like Bell Canada and SaskTel, both online and in select retail locations [11][12]

Core Points - Sonim Technologies has launched the Sonim Spot H500, a rugged 5G mobile hotspot, available through UScellular starting June 20, 2024 [3][10][25] - The device is designed for various users, including consumers, enterprises, and public safety professionals, providing ultra-fast internet speeds and enhanced connectivity in a durable form factor [10][21] - The Spot H500 can connect up to 342 devices simultaneously, making it suitable for diverse settings such as family vacations, team collaborations, and remote worksites [4][10] Product Features - The Spot H500 is built to military specifications (MIL-STD 810H) and has an IP68 rating, ensuring it is waterproof, dustproof, and drop-proof, making it ideal for extreme conditions [5][10] - It is powered by the Snapdragon SDX62 Modem-RF system, delivering exceptional 5G sub-6 GHz performance for activities like streaming and video conferencing [12][10] - The device includes a 6000mAh rechargeable battery, providing all-day battery life and can also function as a power bank for charging external devices [13][24] Connectivity Options - The Spot H500 supports Wi-Fi 6 and 6E, ensuring excellent performance across multiple bands (2.4GHz, 5GHz, and 6GHz), which reduces congestion and lag [19][10] - It features an Ethernet port for wired connectivity, ideal for environments where Wi-Fi may be unreliable, such as offices and pop-up retail locations [23][10] - The device has a touchscreen interface for easy management of connections, catering to users of all tech proficiency levels [14][10] Market Position - Sonim Technologies is recognized as a leading provider of ultra-rugged mobile devices, catering to demanding users in various sectors, including construction and public safety [8][10] - The partnership with UScellular for the launch of the Spot H500 emphasizes Sonim's commitment to providing reliable communication tools to a broader audience [21][10]

. ● . Sonim Technologies to Present at the Sidoti Small Cap Conference on June 13, 2024 June 06, 2024 7:30 AM EDT | Source: Sonim Technologies, Inc. San Diego, California--(Newsfile Corp. - June 6, 2024) - Sonim Technologies (NASDAQ: SONM), today announced that it will be presenting at the Sidoti Small Cap Conference, which will take place virtually on June 13, 2024. The Company will present at 1:00 pm Eastern Time on Thursday, June 13, 2024. To join the presentation, please visit the webcast available onli ...

. ● . | --- | --- | |--------------------------------------------|----------------------------------------------| | | | | Sonim Technologies Announces TAA Compliant | | | | Manufacturing for New 5G Connected Solutions | | Portfolio | | Select products achieve Trade Agreements Act (TAA) compliance; unlocks new market opportunities and enhances operational resilience June 04, 2024 8:01 AM EDT | Source: Sonim Technologies, Inc. San Diego, California--(Newsfile Corp. - June 4, 2024) - Sonim Technologies, Inc. ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ____________ Commission File Number: 001-38907 | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | - ...

Advancing 13 Carrier Awards Toward Launch Dates Commencing in Summer 2024 Entry Into New Product Markets and Europe Drive 2024 Growth Opportunities Expanding Portfolio and Carrier Awards Boost Company's Addressable Market from $400M to $52B San Diego, California – May 14, 2024 – Sonim Technologies, Inc. (Nasdaq: SONM), a leading provider of mobility solutions that include ultra-rugged and rugged phones, connected devices, consumer durable mobile devices, and accessories designed to provide extra protection ...

Exhibit 99.1 Sonim Reports 34% Increase in FY2023 Revenue, to $93.6 Million, Significant Expansion Momentum in New Addressable Markets Expanding Portfolio and Carrier Awards Boost Company's Addressable Market from $400M to $52B 13 New Carrier Awards Set to Fuel 2024 Product Sales New 2024 Product Launches Support Entry into Larger Rugged Pro, Connected Solutions and Consumer Markets, Geographic Expansion into Europe San Diego, California – March 27, 2024 – Sonim Technologies, Inc. (Nasdaq: SONM), a leading ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38907 Sonim Technologies, Inc. (Exact name of registrant as specified in its charter) Delaware 94-3336783 (State or other jurisdictio ...

[PART I. FINANCIAL INFORMATION](index=6&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=6&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited financial statements for September 30, 2023, indicate a significant increase in total assets and a shift to profitability, driven by substantial revenue growth, despite a decrease in cash and cash equivalents [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2023, total assets increased to **$58.6 million**, primarily due to higher accounts receivable, while cash decreased and stockholders' equity improved Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 | Dec 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $9,797 | $13,213 | | Accounts receivable, net | $30,348 | $22,433 | | Inventory | $4,219 | $3,910 | | Total current assets | $47,537 | $43,632 | | Total assets | $58,610 | $53,686 | | **Liabilities & Equity** | | | | Accounts payable | $23,256 | $21,126 | | Total current liabilities | $34,038 | $32,062 | | Total liabilities | $35,500 | $33,641 | | Total stockholders' equity | $23,110 | $20,045 | [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The company achieved profitability in Q3 2023 and for the nine-month period, reporting **$1.3 million** net income on **$80.2 million** revenues, driven by **75%** revenue growth and **85%** gross profit increase Statement of Operations Summary (in thousands, except per share data) | Metric | Q3 2023 | Q3 2022 | Nine Months 2023 | Nine Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Net revenues | $27,566 | $20,497 | $80,202 | $45,710 | | Gross profit | $5,603 | $3,316 | $14,204 | $7,691 | | Net income (loss) from operations | $688 | $(1,929) | $1,768 | $(13,231) | | Net income (loss) | $527 | $(1,608) | $1,263 | $(13,045) | | Diluted EPS | $0.01 | $(0.04) | $0.03 | $(0.52) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities improved to **$3.7 million** for the nine months ended September 30, 2023, primarily due to increased accounts receivable, resulting in a **$3.4 million** decrease in cash and cash equivalents Cash Flow Summary (Nine Months Ended Sep 30, in thousands) | Category | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(3,701) | $(10,137) | | Net cash used in investing activities | $(24) | $(6) | | Net cash provided by financing activities | $309 | $14,384 | | Net decrease in cash and cash equivalents | $(3,416) | $4,241 | | Cash and cash equivalents at end of period | $9,797 | $15,474 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail the company's diversification into new product lines, significant customer concentration, and substantial purchase commitments of **$20.8 million** - The company is diversifying from rugged devices into consumer durable and data devices, with a new tablet line introduced in 2022 generating a significant portion of revenue[24](index=24&type=chunk) Revenue by Product Category (Nine Months Ended Sep 30, in thousands) | Product Category | 2023 | 2022 | | :--- | :--- | :--- | | Smartphones | $23,683 | $10,956 | | Feature Phones | $11,737 | $19,618 | | Tablets | $43,864 | $13,870 | | Accessories / Other | $918 | $1,266 | | **Total** | **$80,202** | **$45,710** | - Customer concentration is high, with Customer A and Customer B representing **55%** and **26%** of revenue, respectively, for the nine months ended September 30, 2023[71](index=71&type=chunk) - The company has noncancelable purchase commitments of approximately **$20.8 million** as of September 30, 2023, primarily for inventory and device components[60](index=60&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong revenue growth and profitability to new product sales and reduced operating expenses, while expanding its product portfolio, but faces a Nasdaq delisting notice due to its stock price - The company is expanding its product portfolio with a new 'Connected Solutions' division, launching mobile hotspots, fixed wireless, and USB dongles in 2024, and is also launching a line of consumer durable phones[75](index=75&type=chunk)[78](index=78&type=chunk) - In Q3 2023, the company received six product awards for new hotspot devices from tier-one carriers in the U.S., Canada, and Australia, with launches expected throughout 2024[83](index=83&type=chunk) - On September 14, 2023, the company received a delinquency notice from Nasdaq for failing to maintain a minimum bid price of **$1.00** per share, with a compliance deadline of March 12, 2024, and is considering a reverse stock split[86](index=86&type=chunk) Operating Expense Changes (Nine Months Ended Sep 30, in thousands) | Expense Category | 2023 | 2022 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Research and development | $846 | $6,754 | $(5,908) | (87)% | | Sales and marketing | $5,717 | $5,754 | $(37) | (1)% | | General and administrative | $5,873 | $8,414 | $(2,541) | (30)% | | **Total Operating Expenses** | **$12,436** | **$20,922** | **$(8,486)** | **(41)%** | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is not required to provide quantitative and qualitative disclosures about market risk - As a smaller reporting company, Sonim Technologies is not required to provide quantitative and qualitative disclosures about market risk[117](index=117&type=chunk) [Item 4. Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective due to a material weakness in IT general controls, with remediation efforts underway expected by year-end 2023 - Management concluded that disclosure controls and procedures were not effective as of the end of the reporting period due to a material weakness in internal control over financial reporting[118](index=118&type=chunk) - The material weakness relates to the design and implementation of IT general controls, specifically regarding the review of changes to user roles in financial reporting systems[119](index=119&type=chunk) - Remediation efforts are underway, including removing elevated administrator access and implementing new auditable reviews of user role changes, with full remediation expected by the end of 2023[120](index=120&type=chunk)[121](index=121&type=chunk) [PART II. OTHER INFORMATION](index=29&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=29&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings, but does not anticipate a material adverse effect on its financial position or operations from their resolution - The company states that while it is involved in various legal proceedings, it does not expect the outcomes to materially impact its financial condition, results, or cash flows[63](index=63&type=chunk)[125](index=125&type=chunk) [Item 1A. Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) The company highlights new risks, including management attention diversion due to new product lines, potential Nasdaq delisting, and the inherent uncertainties of financial projections - A new risk factor has been added regarding the company's entry into the data device sector, which could divert management attention and presents execution risks related to manufacturing and supply chain[127](index=127&type=chunk)[128](index=128&type=chunk) - The company is not in compliance with Nasdaq's minimum bid price requirement of **$1.00** per share and faces the risk of delisting, which could severely impact the stock's trading, liquidity, and market price[129](index=129&type=chunk)[130](index=130&type=chunk)[132](index=132&type=chunk) - The company cautions that its financial and operational projections are based on numerous assumptions and are subject to inherent risks, meaning actual results could differ materially[133](index=133&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=30&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) There were no unregistered sales of equity securities or use of proceeds to report during the period - There were no unregistered sales of equity securities during the period[135](index=135&type=chunk) [Item 3. Defaults Upon Senior Securities](index=30&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities to report during the period - There were no defaults upon senior securities during the period[136](index=136&type=chunk) [Item 4. Mine Safety Disclosures](index=30&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company's operations - This item is not applicable to the company[137](index=137&type=chunk) [Item 5. Other Information](index=30&type=section&id=Item%205.%20Other%20Information) There is no other material information to report for the period - There is no other information to report for the period[138](index=138&type=chunk) [Item 6. Exhibits](index=31&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the quarterly report, including corporate governance documents, a consulting agreement, and required CEO/CFO certifications - Key exhibits filed include corporate governance documents, a consulting agreement with Alan Howe, the amended 2019 Equity Incentive Plan, and required CEO/CFO certifications[139](index=139&type=chunk)

[PART I. FINANCIAL INFORMATION](index=4&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This section presents the unaudited condensed consolidated financial statements and management's discussion and analysis for the period ended June 30, 2023 [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited financial statements for Q2 2023 reveal significant revenue growth and a shift to net income, driven by new tablet sales, alongside changes in cash and receivables [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of June 30, 2023, shows total assets of $53.7 million, with decreased cash and increased accounts receivable, alongside a rise in stockholders' equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $9,720 | $13,213 | | Accounts receivable, net | $26,576 | $22,433 | | Inventory | $4,736 | $3,910 | | Total current assets | $43,468 | $43,632 | | Total assets | $53,740 | $53,686 | | **Liabilities & Equity** | | | | Accounts payable | $20,913 | $21,126 | | Total current liabilities | $30,645 | $32,062 | | Total liabilities | $32,091 | $33,641 | | Total stockholders' equity | $21,649 | $20,045 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The statements of operations show a significant turnaround to a net income of $0.5 million in Q2 2023, driven by a 124% increase in net revenues and reduced operating expenses Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2023 | Q2 2022 | Six Months 2023 | Six Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Net revenues | $26,835 | $11,955 | $52,636 | $25,213 | | Gross profit | $4,426 | $2,847 | $8,601 | $4,375 | | Total operating expenses | $3,679 | $7,067 | $7,521 | $15,677 | | Net income (loss) from operations | $747 | $(4,220) | $1,080 | $(11,302) | | Net income (loss) | $509 | $(4,225) | $736 | $(11,437) | | Diluted EPS | $0.01 | $(0.22) | $0.02 | $(0.60) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities for the six months ended June 30, 2023, totaled $3.4 million, primarily due to increased accounts receivable, resulting in a $3.5 million decrease in overall cash Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2023 | 2022 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $(3,397) | $156 | | Net cash used in investing activities | $(23) | $(6) | | Net cash provided by (used in) financing activities | $(73) | $6,772 | | **Net (decrease) increase in cash** | **$(3,493)** | **$6,922** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, revenue recognition, and balance sheet components, highlighting significant tablet revenue, customer concentration, reduced R&D, and management's going concern assessment - The company believes it has the ability to continue as a going concern for at least one year, based on its cash position of **$9.7 million** and expected positive cash flow from product sales[18](index=18&type=chunk) Net Revenue by Product Category (in thousands) | Product Category | Q2 2023 | Q2 2022 | Six Months 2023 | Six Months 2022 | | :--- | :--- | :--- | :--- | :--- | | Smartphones | $8,869 | $5,862 | $15,296 | $9,449 | | Feature Phones | $3,012 | $6,001 | $6,853 | $14,838 | | Tablets | $14,737 | $— | $29,994 | $— | | Accessories / Other | $217 | $92 | $493 | $926 | | **Total** | **$26,835** | **$11,955** | **$52,636** | **$25,213** | - A single customer that purchases tablets accounted for **78%** of total accounts receivable as of June 30, 2023, indicating significant customer concentration risk[39](index=39&type=chunk) - For the second quarter of 2023, two customers accounted for **55%** (Customer A) and **35%** (Customer B) of total revenues, respectively[65](index=65&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=18&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q2 2023's 124% revenue growth and improved operating income to new tablet sales and reduced R&D, while expanding into 'Connected Solutions' despite negative operating cash flow from increased receivables - The company is expanding its product portfolio with a new 'Connected Solutions' division (mobile hotspots, fixed wireless) and a line of consumer durable products, with launches planned for **2024**[70](index=70&type=chunk)[73](index=73&type=chunk) - Customer concentration is high, with the tablet customer representing **57%** of revenue for the six months ended June 30, 2023[72](index=72&type=chunk) Results of Operations Comparison (in thousands) | Metric | Q2 2023 | Q2 2022 | % Change | | :--- | :--- | :--- | :--- | | Net revenues | $26,835 | $11,955 | 124% | | Gross profit | $4,426 | $2,847 | 55% | | Operating expenses | $3,679 | $7,067 | (48%) | | Net income (loss) | $509 | $(4,225) | 112% | - Research and development expenses were **zero** for Q2 2023, compared to **$2.7 million** in Q2 2022, with future R&D costs expected to be borne by third-party manufacturers and passed on through higher product costs[82](index=82&type=chunk)[86](index=86&type=chunk) - Cash used in operations for the first six months of 2023 was **$3.4 million**, primarily due to a **$4.1 million** increase in accounts receivable related to tablet sales with longer payment cycles[94](index=94&type=chunk)[96](index=96&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=25&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Sonim Technologies, Inc. is not required to provide information for this item - The company is a smaller reporting company and is not required to provide quantitative and qualitative disclosures about market risk[107](index=107&type=chunk) [Item 4. Controls and Procedures](index=25&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective as of June 30, 2023, due to a material weakness in IT general controls, with remediation expected by year-end - Management concluded that disclosure controls and procedures were not effective as of the end of the period covered by the report[108](index=108&type=chunk) - A material weakness in internal controls related to IT general controls (specifically, documenting reviews of user role changes in financial systems) persists, with remediation in progress and expected to be complete by the end of **2023**[109](index=109&type=chunk)[111](index=111&type=chunk) [PART II. OTHER INFORMATION](index=26&type=section&id=PART%20II.%20OTHER%20INFORMATION) This section addresses legal proceedings, updated risk factors, and other miscellaneous disclosures for the reporting period [Item 1. Legal Proceedings](index=26&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings arising in the normal course of business but does not believe their resolution will have a material adverse effect on its financial position - The company states it is involved in various legal proceedings in the normal course of business, which are not expected to have a material adverse effect[57](index=57&type=chunk)[116](index=116&type=chunk) [Item 1A. Risk Factors](index=26&type=section&id=Item%201A.%20Risk%20Factors) No material changes from the 10-K are noted, but an amended risk factor addresses Nasdaq listing compliance, and a new one highlights challenges in expanding into the data device sector - A risk factor regarding the ability to comply with Nasdaq's continued listing standards has been amended and restated[117](index=117&type=chunk)[118](index=118&type=chunk) - A new risk factor was added concerning the company's entry into the data device sector with its 'Connected Solutions' division, highlighting risks such as diverting management attention and execution challenges for the new product line[120](index=120&type=chunk)[121](index=121&type=chunk) [Other Items (2, 3, 4, 5)](index=27&type=section&id=Other%20Items%20(2,%203,%204,%205)) There were no unregistered sales of equity securities, defaults upon senior securities, mine safety disclosures, or other information to report for the period - Item 2 (Unregistered Sales of Equity Securities), Item 3 (Defaults Upon Senior Securities), Item 4 (Mine Safety Disclosures), and Item 5 (Other Information) were all reported as 'None' or 'Not applicable'[123](index=123&type=chunk)[124](index=124&type=chunk)[125](index=125&type=chunk)[126](index=126&type=chunk) [Item 6. Exhibits](index=28&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including certifications from the Principal Executive Officer and Principal Financial Officer [Signatures](index=30&type=section&id=Signatures) The report is duly signed by the Chief Executive Officer and the Chief Financial Officer on August 14, 2023