Announcement • Apr 02
DNA X, Inc. announced delayed annual 10-K filing On 04/01/2026, DNA X, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC. Announcement • Jan 28
Sonim Technologies, Inc. Believes it has Regained Compliance with the Nasdaq Listing Rule As previously disclosed on Current Report of Sonim Technologies, Inc. on Form 8-K filed with the SEC on August 27, 2025, on August 22, 2025, The Nasdaq Stock Market LLC (“ Nasdaq”) notified the Company that it did not comply with the minimum $2.5 million stockholders’ equity requirement for continued listing set forth in Nasdaq Listing Rule 5550(b) (the “ Equity Rule”). Subsequently, Nasdaq provided the Company extensions until January 31, 2026, to regain compliance with the Equity Rule. As a result of the consummation of the Asset Sale, as of January 27, 2026, the Company believes it has regained compliance with the Equity Rule. The Company can provide no assurance that Nasdaq will concur with the Company’s conclusion regarding compliance. Nasdaq will continue to monitor the Company’s ongoing compliance with the stockholders’ equity requirement and, if at the time of its next periodic report the Company does not evidence compliance, it may be subject to delisting. Announcement • Jan 27
Social Mobile LLC completed the acquisition of Sonim Technologies (Hong Kong) Limited/US Assets of Sonim Technologies, Inc. from Sonim Technologies, Inc. (NasdaqCM:SONM). Social Mobile LLC entered into a letter of intent to acquire Sonim Technologies (Hong Kong) Limited/US Assets of Sonim Technologies, Inc. from Sonim Technologies, Inc. (NasdaqCM:SONM) for $20 million on June 2, 2025. Social Mobile entered into a definitive agreement to acquire Sonim Technologies (Hong Kong) Limited/US Assets of Sonim Technologies, Inc. from Sonim Technologies, Inc.on July 17, 2025. The purchase price consists of $20 million including a $5 million potential earn-out in an all-cash transaction. The earn-out consideration is contingent upon achieving the target revenue as set forth in the agreement.
The agreement is approved by Sonim’s Board of Directors. The transaction is subject to customary closing conditions, including shareholder and regulatory approvals. The transaction is expected to close in the fourth quarter of 2025.
ROTH Capital Partners, LLC acted as financial advisor and fairness opinion provider and William N. Haddad, Kirill Y. Nikonov of Venable LLP acted as legal advisor to Sonim Technologies, Inc. Louis M. Rappaport and Thomas Cournoyer of Blank Rome LLP acted as legal advisor to Social Mobile. Equinity Trust Company, LLC acted as transfer agent to Sonim Technologies, Inc. Sodali & Co. acted as proxy solicitor to Sonim Technologies, Inc.and will be paid a fee of $30,000. Roth Capital received professional fees of $150,000 from Sonim for rendering its opinion. Roth Capital will receive a fee of $250,000 for its services as a financial advisor to the Special Committee. On November 24, 2025, it was announced that the parties entered into the first amendment to the purchase agreement. On December 5, 2025, it was announced that a special meeting of stockholders of Sonim Technologies, Inc will be held virtually on December 30, 2025. As of December 30, 2025 target shareholders have approved the deal.
Social Mobile LLC completed the acquisition of Sonim Technologies (Hong Kong) Limited/US Assets of Sonim Technologies, Inc. from Sonim Technologies, Inc. (NasdaqCM:SONM) on January 2, 2026. New Risk • Dec 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-US$701k). Shareholders have been substantially diluted in the past year (280% increase in shares outstanding). Market cap is less than US$10m (US$3.90m market cap). Reported Earnings • Nov 02
Third quarter 2025 earnings released: US$4.83 loss per share (vs US$9.33 loss in 3Q 2024) Third quarter 2025 results: US$4.83 loss per share. Revenue: US$16.2m (up 7.9% from 3Q 2024). Net loss: US$4.75m (loss widened 89% from 3Q 2024). Announcement • Sep 30
Sonim Technologies, Inc. has filed an IPO. Sonim Technologies, Inc. has filed an IPO.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 350,000,000
Transaction Features: Sponsor Backed Offering Announcement • Aug 28
Sonim Technologies Receives Deficiency Letter from Nasdaq Due to Non-Compliance with Nasdaq Listing Rule 5550(b)(1) On August 22, 2025, Sonim Technologies, Inc. received a letter (the ‘Deficiency Letter’) from The Nasdaq Stock Market LLC (‘Nasdaq’) indicating that the Company’s stockholders’ equity, as reported in its Quarterly Report on Form 10-Q for the period ended June 30, 2025 (the ‘Form 10-Q’), did not satisfy the continued listing requirement under Nasdaq Listing Rule 5550(b)(1) for the Nasdaq Capital Market, which requires that a listed company’s stockholders’ equity be at least $2.5 million. As reported on its Form 10-Q, the Company’s stockholders’ equity as of June 30, 2025 was $1,334,000. Additionally, the Deficiency Letter stated that as of August 21, 2025, the Company did not meet the alternatives of market value of listed securities of $35.0 million per Listing Rule 5550(b)(2) or net income from continuing operations of $0.5 million in its most recently completed fiscal year or in two of its three most recently completed fiscal years per Listing Rule 5550(b)(3), and as such, the Company did not comply with the Listing Rule 5550 for continued listing on the Nasdaq Capital Market. The Deficiency Letter has no immediate effect on the listing or trading of the Company’s common stock, which continues to trade on the Nasdaq Capital Market under the symbol ‘SONM.’ In accordance with Nasdaq Listing Rule 5810(c)(2)(C), the Company has been provided an initial period of 45 calendar days, or until October 6, 2025, to submit a plan to regain compliance. Subsequent to the receipt of the Deficiency Letter, and prior to that deadline, the Company will submit a plan to regain compliance with Nasdaq Listing Rule 5550(b)(1) to Nasdaq. If the Company’s plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Deficiency Letter to evidence compliance. The Company is currently evaluating various courses of action to regain compliance and plans to timely submit its plan to Nasdaq to regain compliance with Nasdaq Listing Rule 5550(b)(1). There can be no assurance that the Company’s plan will be accepted or that if it is, the Company will be able to regain compliance. If the Company’s plan to regain compliance is not accepted, or if it is and the Company does not regain compliance within 180 days from the date of the Deficiency Letter, or if the Company fails to satisfy another Nasdaq requirement for continued listing, Nasdaq could provide notice that the Company’s common stock will become subject to delisting. In such event, Nasdaq rules would permit the Company to appeal the decision to reject the Company’s proposed compliance plan or any delisting determination to a Nasdaq Hearings Panel. The hearing request would stay any suspension or delisting action pending the conclusion of the hearing process and the expiration of any additional extension period granted by the panel following the hearing. Announcement • Aug 16
Sonim Technologies Receives Notice from Nasdaq Due to Non-Compliance with the Minimum Bid Price Requirement for its Common Stock On August 13, 2025, Sonim Technologies, Inc. (the ‘Company’) received a letter (the ‘Notice’) from the listing qualifications staff (the ‘Staff’) of The Nasdaq Stock Market LLC (‘Nasdaq’) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the ‘Bid Price Rule’) for continued listing. The Bid Price Rule requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) (the ‘Compliance Period Rule’) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice has no immediate effect on the listing of the Company’s common stock, par value $0.001 per share (the ‘Common Stock’), which continues to trade on The Nasdaq Capital Market under the symbol ‘SONM.’ In accordance with the Compliance Period Rule, the Company has 180 calendar days to regain compliance. If, at any time before the end of this 180-day period, or through February 9, 2026, the closing bid price of the Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, subject to the Staff’s discretion to extend this period pursuant to Nasdaq Listing Rule 5810(c)(3)(H), the Staff will provide written notification that the Company has achieved compliance with the Bid Price Rule. If the Company does not regain compliance during this 180-day period, then the Staff may grant the Company a second 180 calendar day period to regain compliance, provided the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the minimum bid price deficiency during the second compliance period, which may include, if necessary, implementing a reverse stock split. The Company will continue to monitor the closing bid price of its Common Stock and seek to regain compliance with all applicable Nasdaq requirements within the allotted compliance periods. The Company is evaluating options for regaining compliance with the Minimum Bid Rule, including seeking stockholder approval at a special meeting of stockholders or its 2026 annual meeting of stockholders to declare and effect a reverse stock split. If the Company does not regain compliance within the allotted compliance periods, including any extensions that may be granted by the Staff, the Staff will provide notice that the Common Stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the minimum bid price requirement during the 180-day compliance period, secure a second period of 180 days to regain compliance, or maintain compliance with the other Nasdaq listing requirements. Reported Earnings • Aug 11
Second quarter 2025 earnings released: US$0.79 loss per share (vs US$1.41 loss in 2Q 2024) Second quarter 2025 results: US$0.79 loss per share. Revenue: US$11.2m (down 2.8% from 2Q 2024). Net loss: US$7.48m (loss widened 13% from 2Q 2024). Announcement • Jul 10
AJP Holding Company Issues an Open Letter to Shareholders of Sonim Technologies On July 9, 2025, AJP Holding Company LLC and Orbic North America, LLC sent a letter to shareholders of Sonim Technologies Inc, criticized Company's current board for rejecting a superior offer to acquire Company's assets, which would have provided substantial benefits to stockholders, AJP Holding Company urged stockholders of the Company to support their nominees Douglas B Benedict, Joseph M Glynn, Gregory M Johnson, Surendra Singh And Michael Wallace for the board at the Annual Meeting to prioritize stockholder value. In addition, AJP Holding Company’s letter highlights the lack of engagement from Company's board with Orbic's revised proposal, which offers a 66.7% premium over the current offer from Social Mobile, and the Company has not provided details on the proposed transactions with Social Mobile® or its unnamed acquirer, raising concerns about transparency and stockholder value, Company’s stock price has declined by approximately 74.94% over the past 3 months, causing significant losses for stockholders, AJP and Orbic are advocating for immediate and dramatic changes in leadership to improve stockholder value. Further, AJP Holding Company urged the shareholders to vote for its board nominees at the annual meeting of shareholders scheduled to be held on July 18, 2025. Announcement • Jun 25
An undisclosed buyer signed a letter of intent to acquire Sonim Technologies, Inc. (NasdaqCM:SONM) in a reverse merger transaction. An undisclosed buyer signed a letter of intent to acquire Sonim Technologies, Inc. (NasdaqCM:SONM) in a reverse merger transaction on June 25, 2025. Sonim stockholders would retain equity valued at $17.5 million in the combined company. Stockholders of the HPC A.I. factory Target would own a majority in the combined company.
The transaction is subject to customary conditions, including approval by the boards of directors and stockholders of Sonim and the buyer, completion of the Sonim Legacy Business Sale as well as the satisfaction of other closing conditions. Following the closing, the combined company is expected to adopt a new corporate name and ticker symbol while maintaining its listing on Nasdaq. Announcement • Jun 21
Sonim Technologies, Inc. has filed a Follow-on Equity Offering. Sonim Technologies, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 6,896,551
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 6,896,551 Announcement • Jun 19
Sonim Technologies, Inc., Annual General Meeting, Jul 18, 2025 Sonim Technologies, Inc., Annual General Meeting, Jul 18, 2025. Announcement • Jun 17
Shenzhen DOOGEE Hengtong Technology Co., Ltd proposed to acquire Sonim Technologies, Inc. (NasdaqCM:SONM) for $35.4 million. Shenzhen DOOGEE Hengtong Technology Co., Ltd proposed to acquire Sonim Technologies, Inc. (NasdaqCM:SONM) for $35.4 million on June 9, 2025. A cash consideration valued at $3.6 per share will be paid by Shenzhen DOOGEE Hengtong Technology Co., Ltd. The Board of Directors of Sonim Technologies, Inc. formed a special committee for the transaction. At this time, the Special Committee lacks sufficient information to evaluate DOOGEE’s indication of interest in a manner consistent with its fiduciary duties to Sonim’s stockholders. Reported Earnings • May 14
First quarter 2025 earnings released: EPS: US$0.078 (vs US$0.67 loss in 1Q 2024) First quarter 2025 results: EPS: US$0.078 (up from US$0.67 loss in 1Q 2024). Revenue: US$16.7m (flat on 1Q 2024). Net income: US$458.0k (up US$3.36m from 1Q 2024). Profit margin: 2.7% (up from net loss in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 43% per year, which means it is significantly lagging earnings. New Risk • Apr 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.34m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-US$5.7m). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Market cap is less than US$10m (US$9.34m market cap). New Risk • Apr 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Negative equity (-US$5.7m). Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$10.6m market cap). Announcement • Apr 04
Orbic North America LLC made an unsolicited non-binding proposal to acquire Sonim Technologies, Inc. (NasdaqCM:SONM) from AJP Holding Company, LLC and others for $25.6 million. Orbic North America LLC made an unsolicited non-binding proposal to acquire Sonim Technologies, Inc. (NasdaqCM:SONM) from AJP Holding Company, LLC and others for $25.6 million on April 3, 2025. Orbic North America proposed to acquire all outstanding shares of Sonim Technologies for $4.00 per share in cash. Reported Earnings • Apr 01
Full year 2024 earnings released: US$7.13 loss per share (vs US$0.022 loss in FY 2023) Full year 2024 results: US$7.13 loss per share (further deteriorated from US$0.022 loss in FY 2023). Revenue: US$58.3m (down 38% from FY 2023). Net loss: US$33.6m (loss widened US$33.6m from FY 2023). Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. New Risk • Mar 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.55m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$9.55m market cap). Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). New Risk • Feb 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$12.2m market cap). Announcement • Jan 24
Sonim Technologies, Inc. Announces Formation of Committee Sonim Technologies announced the formation of a special committee comprised solely of independent directors to explore and evaluate strategic alternatives to enhance stockholder value following the Schedule 13D/A filed by AJP Holding Company, LLC with the Securities and Exchange Commission on January 17, 2025. The Special Committee will be chaired by Mr. Mike Mulica and will be comprised of Mr. Mulica and Mr. James Cassano. Sonim welcomes open, constructive communications with all stockholders and encourages input that advances the shared goal of enhancing stockholder value. Consistent with its fiduciary duties and in consultation with its advisors, including Roth Capital Partners, the Special Committee will carefully consider and evaluate strategic alternatives received from several parties including, but not limited to, Orbic North America LLC, to determine the course of action that it believes is in the best interests of Sonim and its stockholders. During this process, the Special Committee may receive and evaluate business combinations, including mergers or acquisitions, as well as, other strategic transactions, such as a sale of the company or a significant portion of its assets, to enhance stockholder value. Sonim remains focused on providing clients with world-class 5G mobility solutions. New Risk • Jan 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$15.9m market cap). Reported Earnings • Nov 15
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: US$0.52 loss per share (down from US$0.13 profit in 3Q 2023). Revenue: US$15.0m (down 46% from 3Q 2023). Net loss: US$2.51m (down US$3.04m from profit in 3Q 2023). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Revenue is forecast to grow 42% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Tech industry in the US. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Major Estimate Revision • Aug 16
Consensus EPS estimates fall by 48%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$60.7m to US$62.6m. Forecast EPS reduced from -US$2.13 to -US$3.15 per share. Tech industry in the US expected to see average net income growth of 11% next year. Consensus price target down from US$10.00 to US$8.00. Share price rose 10% to US$3.20 over the past week. Reported Earnings • Aug 11
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: US$1.41 loss per share (down from US$0.12 profit in 2Q 2023). Revenue: US$11.5m (down 57% from 2Q 2023). Net loss: US$6.62m (down US$7.13m from profit in 2Q 2023). Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates by 161%. Revenue is forecast to grow 50% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Tech industry in the US. Over the last 3 years on average, earnings per share has increased by 109% per year but the company’s share price has fallen by 59% per year, which means it is significantly lagging earnings. Announcement • Aug 08
Sonim Technologies, Inc. has filed a Follow-on Equity Offering in the amount of $8.943 million. Sonim Technologies, Inc. has filed a Follow-on Equity Offering in the amount of $8.943 million.
Security Name: Common Stock
Security Type: Common Stock
Transaction Features: At the Market Offering New Risk • Jun 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$6.2m net loss next year). Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (14% increase in shares outstanding). Market cap is less than US$100m (US$22.4m market cap). Reported Earnings • May 16
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: US$0.067 loss per share (down from US$0.006 profit in 1Q 2023). Revenue: US$16.8m (down 35% from 1Q 2023). Net loss: US$2.91m (down US$3.13m from profit in 1Q 2023). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) also missed analyst estimates by 133%. Revenue is forecast to grow 29% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Tech industry in the US. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. Breakeven Date Change • May 16
Forecast breakeven date pushed back to 2025 The analyst covering Sonim Technologies previously expected the company to break even in 2024. New forecast suggests the company will make a profit of US$5.05m in 2025. Average annual earnings growth of 87% is required to achieve expected profit on schedule. Announcement • May 08
Sonim Technologies, Inc., Annual General Meeting, Jul 17, 2024 Sonim Technologies, Inc., Annual General Meeting, Jul 17, 2024. Announcement • Apr 30
Sonim Technologies, Inc. announced that it expects to receive $3.85 million in funding Sonim Technologies, Inc. announced that it has entered into a subscription agreement with an individual investor to issue 3,500,000 common shares, par value $0.001 at a price of $1.10 per share for the gross proceeds of $3,850,000 and warrants to purchase up to 3,500,000 shares of common stock on April 29, 2024. The issuance of shares of Common Stock and Warrants pursuant to the Subscription Agreement was made in reliance upon the exemptions from registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended. Each Warrant has an exercise price of $1.10 per share, is immediately exercisable, will expire on April 29, 2029, and is subject to customary adjustments for certain transactions affecting the company’s capitalization. The Warrants may not be exercised if the aggregate number of shares of Common Stock beneficially owned by the Purchaser would exceed the specified beneficial ownership limitation provided therein immediately after exercise thereof. The Purchaser agreed not to transfer shares of common stock and warrants purchased under the Subscription Agreement until 180 days after the closing or October 29, 2024 subject to customary limited exceptions. Price Target Changed • Apr 25
Price target decreased by 90% to US$2.00 Down from US$20.00, the current price target is provided by 1 analyst. New target price is 317% above last closing price of US$0.48. Stock is down 58% over the past year. The company is forecast to post earnings per share of US$0.01 next year compared to a net loss per share of US$0.0022 last year. Board Change • Apr 25
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 2 experienced directors. 5 highly experienced directors. Member of Public Safety Advisory Board William Leist is the most experienced director on the board, commencing their role in 2015. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 28
Full year 2023 earnings released: US$0.002 loss per share (vs US$0.49 loss in FY 2022) Full year 2023 results: US$0.002 loss per share (improved from US$0.49 loss in FY 2022). Revenue: US$93.6m (up 34% from FY 2022). Net loss: US$90.0k (loss narrowed 99% from FY 2022). Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 5.1% growth forecast for the Tech industry in the US. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Breakeven Date Change • Mar 28
Forecast to breakeven in 2024 The analyst covering Sonim Technologies expects the company to break even for the first time. New forecast suggests the company will make a profit of US$637.0k in 2024. Earnings growth of 140% is required to achieve expected profit on schedule. Announcement • Mar 15
The Nasdaq Stock Market, LLC Grants Sonim Technologies' Request for an Additional 180-Day Period, or Until September 9, 2024 to Evidence Compliance with the Minimum Bid Price Requirement On March 13, 2024, Sonim Technologies, Inc. (the ‘Company’) received formal notice that The Nasdaq Stock Market, LLC (‘Nasdaq’) granted the Company’s request for an additional 180-day period, or until September 9, 2024, (the ‘Extension Notice’) from the Listing Qualifications Department (the ‘Staff’) to evidence compliance with the $1.00 per share requirement for continued inclusion on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the ‘Minimum Bid Price Rule’). If at any time before September 9, 2024, the bid price of the Company’s common stock closes at $1.00 per share or more for a minimum of ten consecutive business days, Nasdaq will provide the Company with written confirmation of compliance with the Minimum Bid Price Rule. As previously reported, on September 14, 2023, the Staff notified the Company that the Company no longer satisfied the Minimum Bid Price Rule and was therefore subject to delisting (the ‘Original Notification’). The Company had 180 days, or until March 12, 2024, to achieve compliance with the Minimum Bid Price Rule. The Company applied for an extension of the compliance period with Nasdaq, as permitted under the Original Notification. The Company subsequently provided notice of its intention to cure the deficiency during the extended compliance period by effecting a reverse stock split, if necessary. If the Company does not regain compliance with the Minimum Bid Price Rule by September 9, 2024, the Staff will provide written notice to the Company that its common stock is subject to delisting. At that time, the Company may appeal the determination to a Nasdaq Hearings Panel (the ‘Panel’). A timely request for a hearing will stay any suspension or delisting action pending the issuance of the Panel’s decision. The Extension Notice has no effect at this time on the listing of the Company’s common stock, which will continue to trade on The Nasdaq Capital Market under the symbol ‘SONM.’ The Company is currently evaluating its options for regaining compliance. There can be no assurance that the Company will be able to regain compliance with the Minimum Bid Price Rule or that the Company will otherwise remain in compliance with the other listing standards for the Nasdaq Stock Market. Recent Insider Transactions Derivative • Dec 29
Insider exercised options to buy US$92k worth of stock. On the 26th of December, Charles Becher exercised options to buy 125k shares at a strike price of around US$0.42, costing a total of US$52k. This transaction amounted to 115% of their direct individual holding at the time of the trade. Since June 2023, Charles has owned 108.23k shares directly. Company insiders have collectively bought US$532k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Nov 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.5% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (66% accrual ratio). Minor Risks Shareholders have been diluted in the past year (5.5% increase in shares outstanding). Market cap is less than US$100m (US$30.1m market cap). Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: US$0.013 (vs US$0.045 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.013 (up from US$0.045 loss in 3Q 2022). Revenue: US$27.6m (up 35% from 3Q 2022). Net income: US$527.0k (up US$2.14m from 3Q 2022). Profit margin: 1.9% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 51% per year, which means it is significantly lagging earnings. Announcement • Nov 17
Sonim Technologies, Inc. Announces Board Changes Sonim Technologies, Inc. announced that the board of directors appointed Mike Mulica as its new Chair on November 12, 2023. Mr. Mulica will be succeeding Jeffrey Wang, who has provided exemplary service as the Chair and will continue his valuable contributions to Sonim as an Independent Director. Mulica has been a member of Sonim's board and an independent director since 2021. A seasoned industry veteran with over three decades of experience at the intersection of mobile communications, the internet and globally scaled industry solutions, Mulica's leadership has been instrumental in pioneering the mobile internet and bringing game-changing products and technologies to global markets. His extensive experience spans significant roles in both public and private companies, including Motorola, Synchronoss, Openwave, Phone.com, Unwired Planet, FusionOne, RealNetworks, and Actility. Before his appointment as the CEO of Alef in October 2021, Mr. Mulica served as the Executive Chairman at Alef and has also been a board member and global advisor to other private companies and venture capital funds. Announcement • Sep 19
Sonim Technologies Receives Non-Compliance Notice from Nasdaq On September 14, 2023, Sonim Technologies, Inc. (the “Company”) received a letter (the “Notice”) from the listing qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”) for continued listing. The Bid Price Rule requires listed securities to maintain a minimum bid price of $1.00 per share, and Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice has no immediate effect on the listing of the Company’s common stock, par value $0.001 per share (the “Common Stock”), which continues to trade on The Nasdaq Capital Market under the symbol “SONM.” In accordance with the Compliance Period Rule, the Company has 180 calendar days to regain compliance. If, at any time before the end of this 180-day period, or through March 12, 2024, the closing bid price of the Common Stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, subject to the Staff’s discretion to extend this period pursuant to Nasdaq Listing Rule 5810(c)(3)(H), the Staff will provide written notification that the Company has achieved compliance with the Bid Price Rule. If the Company does not regain compliance during this 180-day period, then the Staff may grant the Company a second 180 calendar day period to regain compliance, provided the Company meets the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the minimum bid price deficiency during the second compliance period, which may include, if necessary, implementing a reverse stock split. The Company will continue to monitor the closing bid price of its Common Stock and seek to regain compliance with all applicable Nasdaq requirements within the allotted compliance periods. The Company is evaluating options for regaining compliance with the Minimum Bid Rule, including seeking stockholder approval at its 2024 annual meeting of stockholders to declare and effect a reverse stock split. If the Company does not regain compliance within the allotted compliance periods, including any extensions that may be granted by the Staff, the Staff will provide notice that the Common Stock will be subject to delisting. The Company would then be entitled to appeal that determination to a Nasdaq hearings panel. There can be no assurance that the Company will regain compliance with the minimum bid price requirement during the 180-day compliance period, secure a second period of 180 days to regain compliance, or maintain compliance with the other Nasdaq listing requirements. Board Change • Sep 14
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Jim Cassano was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 19
Sonim Technologies, Inc., Annual General Meeting, Sep 28, 2023 Sonim Technologies, Inc., Annual General Meeting, Sep 28, 2023, at 09:00 Pacific Standard Time. Agenda: To elect the five nominees as directors of the company, each to hold office until the 2024 annual meeting of stockholders and until his or her successor is duly elected and qualified or until his or her earlier death, resignation, or removal; to ratify the appointment of Moss Adams LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2023; to approve an amendment to the Sonim Technologies, Inc. 2019 Equity Incentive Plan, as amended, to increase the aggregate number of shares of common stock authorized for issuance by 2,000,000 shares; and to transact any other business properly brought before the Annual Meeting or any postponement or adjournment thereof. Announcement • Aug 09
Sonim Technologies Appoints Simon Rayne as Senior Vice President and General Manager for UK, EMEA, and APAC Sonim Technologies Inc. announced that Simon Rayne has joined Sonim as the newly appointed Senior Vice President and General Manager for the UK, EMEA, and APAC, reporting to Chuck Becher, Chief Commercial Officer. Rayne, an industry veteran executive with extensive experience in sales and market development for wireless solutions targeting carriers, enterprises, and consumers, will lead market development and sales for Sonim across these pivotal regions. Simon Rayne is a seasoned executive with a rich history in sales leadership roles across several global companies. Prior to joining Sonim, Rayne served as SVP and Managing Director for Inseego in the UK, EMEA, and APAC regions, he successfully launched numerous mobile and fixed 5G products and enterprise SaaS offerings with multiple carriers. Before Inseego, Rayne served as General Manager for Microsoft Devices and Services in the UK, overseeing the Microsoft Cloud, Office, and Skype divisions. He was instrumental in integrating Nokia's sales, marketing, and services operations in the UK and Ireland into Microsoft. Rayne's experience extends to Sony Ericsson Mobile where he led consumer and retail sales in Europe, focusing on and significantly improving sales execution. As Managing Director for Spectralink in the UK, EMEA, and APAC regions, he developed the company's global channel sales strategy, forming strategic alliances and OEM relationships with tech giants like Cisco and Microsoft. He also established new reseller and distribution agreements with several leading companies including Dimension Data, BT Global, Orange Business Services, Deutsche Telekom, Vodafone, and Telefonica. Earlier in his career, Rayne held sales leadership roles with renowned global companies such as GlaxoSmithKline, Coca-Cola, and Bass Brewing Company. His extensive experience and proven track record in leading successful product launches and implementing effective sales strategies make him a valuable asset to Sonim. Rayne holds a B.A. (Honors) in French &Psychology from Lancaster University and executive education accreditations from the University of Middlesex and Franklin Covey. Reported Earnings • Aug 18
Second quarter 2021 earnings released: US$0.10 loss per share (vs US$0.22 loss in 2Q 2020) The company reported a soft second quarter result with weaker revenues and control over costs, although losses reduced. Second quarter 2021 results: Revenue: US$12.0m (down 43% from 2Q 2020). Net loss: US$6.69m (loss narrowed 5.8% from 2Q 2020). Major Estimate Revision • May 19
Consensus EPS estimates fall to -US$0.40 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from US$65.5m to US$64.7m. Losses expected to increase from -US$0.33 to -US$0.40. Tech industry in the US expected to see average net income growth of 14% next year. Consensus price target down from US$2.00 to US$1.75. Share price fell 26% to US$0.46 over the past week. Reported Earnings • May 13
First quarter 2021 earnings released: US$0.14 loss per share (vs US$0.48 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: US$12.2m (down 3.7% from 1Q 2020). Net loss: US$9.28m (loss narrowed 6.9% from 1Q 2020). Recent Insider Transactions • Mar 19
Insider recently sold US$464k worth of stock On the 13th of March, Bryant Riley sold around 467k shares on-market at roughly US$0.99 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$471k more than they bought in the last 12 months. Reported Earnings • Mar 12
Full year 2020 earnings released: US$0.65 loss per share (vs US$1.39 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$64.0m (down 45% from FY 2019). Net loss: US$29.9m (loss widened 16% from FY 2019). Analyst Estimate Surprise Post Earnings • Mar 12
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 16%. Over the next year, revenue is forecast to grow 5.0%, compared to a 14% growth forecast for the Tech industry in the US. Is New 90 Day High Low • Feb 06
New 90-day high: US$1.03 The company is up 92% from its price of US$0.54 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.88 per share. Is New 90 Day High Low • Jan 21
New 90-day high: US$0.92 The company is up 57% from its price of US$0.59 on 23 October 2020. The American market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Tech industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.88 per share. Is New 90 Day High Low • Jan 05
New 90-day high: US$0.74 The company is up 5.0% from its price of US$0.71 on 06 October 2020. The American market is up 13% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Tech industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$3.83 per share. 