Sonim Technologies Inc Stock Price, News & Analysis

Sonim Technologies (Nasdaq: SONM) has announced that it has regained compliance with Nasdaq listing requirements as of February 22, 2021. This compliance was confirmed in a letter from Nasdaq, indicating that the company has met the minimum bid price rule necessary for continued listing on the Nasdaq Capital Market. Sonim Technologies provides ultra-rugged mobility solutions aimed at task workers in mission-critical roles, enhancing productivity and safety with their specialized mobile phones and accessories.

Sonim Technologies (Nasdaq: SONM) announced that its Sonim SCAN and SOS applications have received FirstNet Certified™ designation, ensuring they meet stringent public safety requirements. This certification allows the applications to be listed in the FirstNet App Catalog, a resource for first responders. Sonim SCAN leverages advanced barcode scanning technology, while Sonim SOS offers safety features for users of rugged mobile devices such as XP3, XP5s, and XP8. This milestone enhances user confidence in Sonim's solutions for critical communications in public safety.

Sonim Technologies (Nasdaq: SONM) has launched the RS80 SmartScanner tablet in North America and Europe, targeting industrial and public safety sectors. The RS80 features an eight-inch glove-friendly touchscreen, integrated barcode scanner, and a high-capacity battery, designed for demanding environments. Its durability reduces total cost of ownership compared to consumer tablets. Key features include Android 10, 4G LTE connectivity, and a two-year warranty. Available through select distribution partners, the tablet enhances productivity and scanning efficiency for field workers.

On January 25, 2021, Sonim Technologies (Nasdaq: SONM) announced a strategic partnership with Syndico, a specialist distributor in the UK. This collaboration aims to enhance the distribution of Sonim's ultra-rugged mobility solutions, specifically designed for mission-critical sectors. Andrew Wilson, Managing Director of Syndico, emphasized the need for durable devices, stating organizations are investing in inadequate solutions. The partnership is expected to meet the rising demand for cellular-based critical communications in the UK market.

Sonim Technologies (Nasdaq: SONM) has received an extension until July 19, 2021 to meet Nasdaq's minimum bid price requirement, previously due on January 18, 2021. This extension follows significant restructuring efforts aimed at reducing operational costs and improving margins. Sonim has also transferred its Shenzhen manufacturing to Unicair and entered into a software development relationship with Coforge. A new SmartScanner and tablet device are set to launch in Q1 2021, targeting a market opportunity worth approximately $2 billion.

Sonim Technologies (Nasdaq: SONM) announced a software development and asset purchase agreement with Coforge, an IT solutions firm. This deal enables Sonim to transfer its India-based software development resources to Coforge, which will manage future software services. This partnership aims to reduce personnel and real estate costs while improving cash flow. Coforge will maintain existing staff and capabilities, ensuring a seamless transition. The collaboration is expected to bolster Sonim's focus on key differentiators for customers.

Sonim Technologies (NASDAQ: SONM) announced a strategic agreement to transition the manufacturing of its XP3, XP5, and XP8 devices to Unicair Communication Technology Co., Ltd, enhancing operational efficiency. This move aims to integrate manufacturing and quality processes, shifting from variable costs to a fixed pricing model to reduce expenses by over $450,000 per quarter. The transition is set to complete by April 2021, and Unicair will hire key personnel from Sonim to ensure continuity. This change is expected to shorten the supply chain and lead time requirements.

On December 14, 2020, a notice was issued regarding a proposed settlement of $2 million in a class action lawsuit involving Sonim Technologies (SONM). The settlement pertains to claims made by individuals who purchased SONM common stock linked to its May 2019 IPO. A court hearing is scheduled for March 5, 2021, to determine the fairness and adequacy of the settlement. Class members must submit a Claim Form by February 3, 2021, to be eligible for recovery. Individuals wishing to exclude themselves from the class must also do so by February 3, 2021.

On December 8, 2020, Sonim Technologies (Nasdaq: SONM) announced that its XP5s ultra-rugged feature phone is among the first devices approved for the FirstNet Push-to-Talk (PTT) solution by AT&T. This device is tailored for critical communications with a dedicated PTT button, emergency features, and enhanced audio capabilities to ensure reliability in challenging environments. The XP5s is FirstNet Ready™, providing users with priority access to the dedicated FirstNet network. This collaboration aims to enhance mobile communication in public safety sectors.