Sonim Technologies Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St

November 16, 2024

Sonim Technologies (NASDAQ:SONM) Third Quarter 2024 Results

Key Financial Results

Revenue: US$15.0m (down 46% from 3Q 2023).
Net loss: US$2.51m (down from US$527.0k profit in 3Q 2023).
US$0.52 loss per share (down from US$0.13 profit in 3Q 2023).

earnings-and-revenue-history — NasdaqCM:SONM Earnings and Revenue History November 16th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Sonim Technologies Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 21%.

Looking ahead, 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.

Performance of the American Tech industry.

The company's shares are down 6.6% from a week ago.

Risk Analysis

You should learn about the 4 warning signs we've spotted with Sonim Technologies.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.