Sonim Technologies Inc Stock Price, News & Analysis

On September 9, 2020, Sonim Technologies (Nasdaq: SONM) announced that its XP3, XP5s, and XP8 ultra-rugged mobile devices are now compatible with the GPSLockbox modular charging dock. This innovative solution supports up to five devices and five spare batteries simultaneously, enhancing operational efficiency for multi-shift operations. The dock features drop-and-charge functionality, allowing for quick device swaps and mixed deployments. Available through major U.S. and Canadian mobile operators, it includes a 3-year warranty and is designed for easy transport and storage.

Sonim Technologies (Nasdaq: SONM) has announced a strategic partnership with Crossover Distribution, enhancing their distribution capabilities in North America. This collaboration will expand Crossover's product portfolio, integrating ultra-rugged mobility solutions into the SMART City and SMART Building sectors. Sonim's product offerings include ultra-rugged mobile devices and accessories, tailored for mission-critical environments. The partnership aims to increase access to Sonim's solutions across North America, enabling improved productivity and communication for task workers.

Sonim Technologies (NASDAQ: SONM) announced its participation in the LD 500 investor conference on September 3, 2020, at 9:00 AM Eastern Time. CEO Tom Wilkinson will present to a live virtual audience. Interested investors can register here. Sonim provides ultra-rugged mobility solutions aimed at enhancing productivity and safety for task workers in demanding environments. The company’s offerings include rugged mobile phones and industrial accessories. For further inquiries, investors can contact Matt Kreps at mkreps@darrowir.com.

Sonim Technologies (Nasdaq: SONM) has launched the OTTO REVO NC2 Remote Speaker Microphone (RSM) compatible with its XP8 and XP5s rugged devices. This RSM features a patent-pending design that enhances noise cancellation and voice reception, specifically catering to first responders and industrial workers. The OTTO RSM offers full duplex audio, is physically secured to Sonim devices, and meets ultra-rugged standards. It is available with a 3-year warranty through Sonim and major U.S. resellers, integrating seamlessly with the ESChat PTT service for secure communications.

Splashtop has partnered with Sonim to integrate its remote support technology into the SCOUT app, facilitating immediate troubleshooting support for Sonim's rugged mobile devices. This integration allows support technicians to remotely access and control devices in real-time, enhancing customer service at no cost to users. The SCOUT app is part of SonimWare, aimed at improving mobile ecosystem management. Supported devices include Sonim XP3, XP5s, and XP8, with emphasis on robust security, high performance, and easy session access.

Sonim Technologies (NASDAQ: SONM) reported second-quarter 2020 financial results, showcasing a 65.7% sequential revenue increase to $21.1 million. However, this reflects a 51.9% decrease compared to the same quarter in 2019. The gross margin improved to 23.4% from 17.0% in Q1. The GAAP net loss decreased to $7.1 million from $10.0 million in Q1, while cash reserves reached $38.1 million. Effective management reduced operating expenses by 39% year-over-year despite a one-time legal charge of $2.4 million.

Sonim Technologies (NASDAQ: SONM) has launched SonimWare Enterprise Mobility Software, designed to enhance deployment, management, and support for its ultra-rugged mobile devices like the XP3, XP5s, and XP8. This software suite includes features such as Sonim SCOUT for device management, Sonim Scan for barcode scanning, and Sonim CLOUD for administration. Key capabilities include device provisioning, application management, enterprise security, and remote support, allowing customization to meet diverse user needs and improving productivity in mission-critical environments.

Sonim Technologies (Nasdaq: SONM) announced preliminary second-quarter results for 2020, reporting net revenues of $21.1 million, a 66% increase from Q1 2020's $12.7 million. The gross margin rose to 23.4% from 17.0% in Q1. CEO Tom Wilkinson attributed this growth to strong carrier relationships and efficient operations, generating positive cash flows. The company secured $27.6 million in gross proceeds from a public stock offering, reducing debt by over $10 million. Sonim ended the quarter with over $38 million in cash and no debt, positioning for future growth.

NextNav and Sonim Technologies have partnered to enhance emergency services with innovative z-axis geolocation technology. This collaboration allows Sonim to deliver NextNav's z-axis capabilities on their devices, promising improved accuracy for 911 response locations. The technology meets FCC requirements, providing altitude data within ±3m 95% of the time. The service aims to significantly reduce emergency response times, particularly in urban settings, where 84% of the U.S. population resides. The rollout is set to begin later this year.