Sonim Technologies Inc Stock Price, News & Analysis

Sonim Technologies (NASDAQ: SONM) reported first-quarter 2021 results with net revenues of $12.2 million, slightly down from $12.7 million a year earlier. Gross profit rose 14% to $2.5 million, reflecting a gross margin of 20.1%. However, the company experienced a net loss of $9.3 million, or $0.14 per share, an improvement compared to a net loss of $10 million in Q1 2020. Sonim plans to expand into the rugged handheld market to tap into a $2 billion global opportunity. Legal expenses related to an ongoing SEC investigation impacted operating expenses, which totaled $11.5 million.

Sonim Technologies, Inc. (Nasdaq: SONM) announced it will release its financial results for the first quarter of 2021 after market close on May 11, 2021. A conference call will take place at 1:30pm PT/4:30pm ET that same day, allowing interested parties to listen via phone or a live webcast. Additionally, Sonim will participate in the Oppenheimer Emerging Growth Conference on May 12, 2021, where management will hold investor meetings. The company offers ultra-rugged mobility solutions tailored for task workers in demanding environments.

Sonim Technologies (Nasdaq: SONM) has launched the RS60 SmartScanner handheld, now available in North America and Europe. This rugged Android device is designed for efficiency in warehouses, manufacturing, and logistics, featuring a durable build that enhances productivity. Key specifications include an 8000mAh battery, integrated barcode scanner, and compatibility with SonimWare software. The RS60 aims to reduce total cost of ownership (TCO) and is backed by a comprehensive 2-year warranty. Distribution partners include SYNNEX and Capestone.

Sonim Technologies (Nasdaq: SONM) has announced the appointment of Mike Mulica and Ken Naumann as independent directors, expanding its Board to seven members. Mulica brings over 30 years of experience in mobile communications and technology, while Naumann has 25 years in executive roles at technology firms. Their appointments are seen as a strategic move to enhance Sonim's leadership, driving the company's transformation and expanding into new markets with rugged mobility solutions designed for task workers.

Sonim Technologies (Nasdaq: SONM) has entered an agreement with SYNNEX Corporation (NYSE: SNX) for the distribution of its RS60 and RS80 rugged SmartScanners and XP8 ultra-rugged smartphones across North America. The partnership aims to leverage SYNNEX's strong relationships with resellers in sectors like industrial and public safety. The devices feature durable designs suitable for extreme environments, promising lower total cost of ownership due to their proven reliability. Both firms are optimistic about the potential impact of this collaboration on workforce communication.

Sonim Technologies (Nasdaq: SONM) has launched the Stone Mountain Epic Remote Speaker Microphone (RSM) series, enhancing its rugged mobility accessory lineup. These RSMs integrate ProClear Digital Signal Processing for superior noise cancellation, ensuring clarity in loud environments. Compatible with Sonim's XP8 and XP5s handsets, key features include secure audio interfaces, emergency button capabilities, and ultra-rugged performance standards. Available through major U.S. and Canadian mobile operators, this innovation aims to improve communication and safety in demanding work conditions.

Sonim Technologies (NASDAQ: SONM) reported a fourth quarter 2020 revenue of $15.8 million, up from $14.4 million in Q3, driven by a 42% increase in sales of XP8 smartphones. However, gross margin decreased to 23.5% from 30.6% in Q3, with a GAAP net loss of $6.4 million or $0.10 per share. The company is shifting focus to growth by launching new products and transferring manufacturing to lower-cost solutions, with expectations of improved margins as legacy products phase out. Cash reserves stand at $22.1 million.

Sonim Technologies (Nasdaq: SONM) is set to release its financial results for Q4 and the full year 2020 after market close on March 10, 2021. A conference call will be held at 1:30 PM PT (4:30 PM ET) to discuss these results. Interested listeners can join the call by dialing +1-412-317-5206 or via live webcast on the company’s website. The call will be available for replay afterwards. Sonim provides ultra-rugged mobility solutions tailored to task workers in demanding environments, focusing on productivity and safety.

On March 5, 2021, Sonim Technologies (NASDAQ: SONM) announced a partnership with FIH Mobile, a subsidiary of Foxconn, to engineer and manufacture the next generation of rugged feature phones. These devices will leverage QUALCOMM chipsets and are expected to be produced in Vietnam. CEO Tom Wilkinson highlighted FIH's comprehensive design and manufacturing capabilities, which are anticipated to enhance production efficiency and supply chain access. The first devices are projected to launch in Q3 2021, signaling a potential boost in Sonim's market presence.