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    Sonim Technologies Announces Preliminary Select Unaudited Fourth Quarter 2024 Results, Showcasing Global Growth and Next-Generation Innovations

    Improved revenue and achieved key milestones, paving the way for sustainable growth and product leadership

    San Diego, California--(Newsfile Corp. - January 15, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM), a leading provider of 5G mobility solutions today announces preliminary select unaudited financial results for the fourth quarter of 2024. The company reached significant milestones in product innovation, market reach, and channel development that position Sonim for substantial revenue and earnings growth starting in 2025.

    Preliminary Select Unaudited Fourth Quarter 2024 Results

    • Net revenue is projected to increase approximately 13% year-over-year to approximately $15.2 million from $13.4 million in the fourth quarter 2023, and to increase sequentially from $15.0 million in the third quarter 2024.
    • GAAP net loss for the quarter is expected to be between $20 million and $24 million compared to a net loss of $3 million in the third quarter of 2024 and is due to the following factors in the fourth quarter:
      • Approximately $12 million in research & development expenses in the fourth quarter 2024, compared to $1 million in the third quarter 2024. This increase reflects the completion and launch of two new mobile hotspots, two rugged smartphones, and a rugged feature phone.
      • Approximately $4 million in higher COGS expenses due to an adjustment in the estimated life span of three legacy phones. This transition will end the production of these phones, freeing up ranged slots with mobile operators for the launch of the new XP Pro rugged smartphone and two upgraded 5G feature phones, replacing the 4G models.
      • A provision for credit losses of approximately $2 million was recorded in the fourth quarter to reserve for an unpaid white label product customer receivable from 2023.
      • A restructuring charge of approximately $1 million was recorded in the fourth quarter as the company implemented an initiative to reduce operating expenses through staff reductions.
      • Cash is expected to be approximately $5 million at the end of the fourth quarter 2024.

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    Sonim Technologies Announces Preliminary Select Unaudited Fourth Quarter 2024 Results, Showcasing Global Growth and Next-Generation Innovations Improved revenue and achieved key milestones, paving the way for sustainable growth and product leadershipSan Diego, California--(Newsfile Corp. - January 15, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM), a leading provider of 5G mobility …