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Apple's $704 Billion Decade-Long Buybacks Exceed Market Cap Of All But 13 Companies Worldwide
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Tim Cook-led Apple Inc. (NASDAQ:AAPL) has amplified its shareholder value for several years with a robust share repurchase program, so much so that only 13 firms worldwide have a market capitalization higher than the shares that AAPL has bought back. What Happened: Data shared by the Chief Market Strategist at Creative Planning, Charlie Bilello, shows that Apple has bought back $704 billion in stock over the past decade. That $704 billion figure exceeds the market capitalization of all but 13 companies globally and is greater than that of 488 companies in the S&P 500 index. Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — According to the chart shared by him, AAPL's current outstanding shares amount to 14.84 billion units, while it has bought back 95.66 billion shares in 10 years, on a trailing like Eli Lilly And Co. (NYSE:LLY), Visa Inc. (NYSE:V), Mastercard Inc. (NYSE:MA), and Netflix Inc. (NASDAQ:NFLX) have a market capitalization lower than that of Apple's buybacks in the last 10 years. However, experts have stated their frustration with Apple's share repurchase strategy. CNBC's 'Mad Money' host Jim Cramer has reiterated that the buybacks aren't working, and they need to make an acquisition in the AI space with its cash primary reason for promoting this acquisition of the AI-powered search engine, Perplexity AI, stems from the U.S. government's antitrust ruling against Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) expected in this month. It could force Google to end default search deals with Apple's Safari It Matters: Wedbush Securities' Tech Bull, Daniel Ives, popularly known as Dan Ives, shares the same views as Cramer. In July, Ives said that Apple's "treadmill approach" needs to end, and it needs to eye a big splashing partnership with either Perplexity or Anthropic. According to him, "It's a matter of when and not if, in other words, Apple needs to make a move, and it's clear. Perplexity to me seems like a no-brainer, relative to how it would fit." "The reason the stock can go up in the second half of the year is that I think Apple is going to make a move. I know they still haven't done an acquisition since Beats, being the biggest one, but now is the time for Cook and Cupertino to move away from the treadmill approach,' he added. Ives reiterated Apple with an Outperform and a $270 price forecast on Wednesday after it announced a new $100 billion commitment to increase investments in the U.S., bringing the company's total commitment up to $600 billion. Jones indices were trading higher. Read Next: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can invest today for just $0.30/share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: jamesteohart / This article Apple's $704 Billion Decade-Long Buybacks Exceed Market Cap Of All But 13 Companies Worldwide originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Sonim Technologies Reports Second Quarter 2025 Financial Results
Sonim Poised for Growth in the Second Half of 2025 with Tier-One Carrier Launches Q2 Results Reflect Investments, Product Launches, and Progress on Social Mobile's Acquisition of Sonim San Diego, California--(Newsfile Corp. - August 8, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM), a leading provider of rugged mobile solutions for first responders, government, and enterprise, today announced its financial results for the second quarter ended June 30, 2025. "The second quarter of 2025 marked a pivotal period for Sonim as we laid the groundwork for a strong finish to the year," said Peter Liu, CEO of Sonim Technologies. "Tier-one carrier launches of our XP Pro series and 5G flip feature phone are now underway in the third quarter. We also debuted Sonim MegaConnect, the world's first HPUE mobile hotspot—in collaboration with FirstNet and AT&T—and we are energized by the overwhelming customer enthusiasm and robust orders. Additionally, the recently announced agreement for Social Mobile to acquire Sonim underscores the value of our innovation and market strategy. We are confident that these milestones position us for sustained growth and success as we move forward." Second Quarter 2025 Financial Highlights: Net revenue of $11.2 million, down 33% from the first quarter of 2025. The first quarter reflected a one-time $5.3 million addition to revenue related to the expiration of customer allowance agreements. GAAP net loss for the quarter was $7.5 million, compared to net income of $0.5 million in the first quarter of 2025. The second quarter of 2025 includes a loss on the impairment of contract fulfillment assets related to the end of life of our legacy products, as well as increased costs related to our contested proxy solicitation. The first quarter of 2025 includes a one-time $5.3 million addition to revenue related to the expiration of customer allowance agreements. Adjusted EBITDA* was negative $3.2 million, unchanged from the first quarter of 2025. Ended the quarter with cash and cash equivalents totaling $2.0 million, trade accounts receivable of $2.9 million, and inventory valued at $9.9 million. Raised $5.4 million in capital through sales of our common stock, net of issuance costs. Transaction proceeds were used for further expansion of product offerings and to finance new product launches. Second Quarter 2025 Business Highlights Launched XP Pro smartphone with AT&T. Commenced shipments of the Sonim H500 mobile hotspot to distributors in Europe to support third quarter launches with tier-one operators Deutsche Telekom in Germany, Telenor in Norway, and Swisscom in Switzerland. Awarded promotional slot for the Sonim H500 5G mobile hotspot with Verizon. Corporate Updates In July, Sonim entered into a definitive agreement with Social Mobile under which Social Mobile agreed to purchase substantially all of Sonim's assets in an all-cash transaction for $15.0 million and up to an additional $5.0 million in an earn-out payment. The transaction received approval by the Sonim Board of Directors and is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including stockholder approval. In July, Sonim stockholders elected all five of the Company's director nominees—Mike Mulica, Peter Liu, James Cassano, Jack Steenstra, and newly nominated director, George Thangadurai—to the Company's Board of Directors. Second Quarter 2025 Financial Results "Our second quarter results reflect some one-time expenses driven by unique circumstances, including legal fees associated with the proxy battle and due diligence efforts," said Clay Crolius, Chief Financial Officer of Sonim Technologies. "While these factors, along with the timing shifts of product shipments, impacted our short-term financials, they were necessary steps in positioning the company for long-term success. As we move forward, we remain focused on exploring strategic opportunities to monetize our Nasdaq listing and deliver maximum value to our shareholders. We are committed to disciplined financial management and leveraging our resources to support growth and innovation in the quarters ahead." Revenue for the second quarter of 2025 was $11.2 million, a decrease from $16.7 million in the first quarter of 2025. The first quarter of 2025 included a one-time $5.3 million addition to revenue related to the expiration of customer allowance agreements. Gross profit for the second quarter of 2025 was $0.8 million, or 8% of revenues, compared to the first quarter of 2025 gross profit of $8.4 million, or 50% of revenues. Gross profit margins reflected a $1.1 million loss on impairment of contract fulfillment assets in the second quarter of 2025 and $5.3 million in revenue related to the expiration of customer allowance agreements in the first quarter of 2025. Operating expenses decreased from $7.7 million in the first quarter of 2025 to $7.6 million in the second quarter of 2025, primarily because R&D costs decreased by $0.7 million due to a substantial portion of development costs for new products being completed in the first quarter of 2025. This decrease was partially offset by higher G&A and Sales & Marketing expenses due to higher legal and professional fees related to the contested proxy. The net loss for the second quarter of 2025 was $7.5 million, as compared to net income of $0.5 million in the first quarter of 2025, which included a $5.3 million one-time adjustment to revenue due to the expiration of customer allowance agreements. Adjusted EBITDA* in the second quarter of 2025 was negative $3.2 million, which was unchanged from the first quarter of 2025. Balance Sheet and Working Capital Sonim ended the second quarter of 2025 with $2.0 million in cash, $2.9 million in trade accounts receivable, and $9.9 million in inventory. Subsequent to quarter end, Sonim received net proceeds of $7.1 million related to sales of common stock through a public offering and the issuance of debt. These proceeds improve the Company's balance sheet and provide working capital to support future product launches. * Non-GAAP financial measure. An explanation and reconciliation of non-GAAP financial measures are presented at the end of this press release. About Sonim Technologies Sonim Technologies is a leading U.S. provider of rugged mobile solutions, including phones, wireless internet data devices, accessories and software designed to provide extra protection for users that demand more durability in their work and everyday lives. Trusted by first responders, government, and Fortune 500 customers since 1999, we currently sell our ruggedized mobility solutions through tier one wireless carriers and distributors in North America, EMEA, and Australia/New Zealand. Sonim devices and accessories connect users with voice, data, workflow and lifestyle applications that enhance the user experience while providing an extra level of protection. For more information, visit Important Cautions Regarding Forward-Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements relate to, among other things, the scheduled release of new products, our growth strategy, and the timing of the consummation of the Asset Purchase Agreement. These forward-looking statements are based on Sonim's current expectations, estimates and projections about its business and industry, management's beliefs and certain assumptions made by Sonim, all of which are subject to change. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "achieve," "aim," "ambitions," "anticipate," "believe," "committed," "continue," "could," "designed," "estimate," "expect," "forecast," "future," "goals," "grow," "guidance," "intend," "likely," "may," "milestone," "objective," "on track," "opportunity," "outlook," "pending," "plan," "position," "possible," "potential," "predict," "progress," "promises," "roadmap," "seek," "should," "strive," "targets," "to be," "upcoming," "will," "would," and variations of such words and similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include, but are not limited to, the following: the availability of cash on hand; the risk associated with Sonim's ability to obtain the approvals of its stockholders required to consummate the Asset Purchase Agreement; risks associated with Sonim's ability to find and RTO target and enter into an RTO; risks related to the timing of the closing of the Asset Purchase Agreement, including the risk that the conditions to the transactions contemplated thereby are not satisfied on a timely basis or at all or the failure of the Asset Purchase Agreement to close for any other reason or to close on the anticipated terms, including the anticipated tax treatment; the possibility that competing offers or acquisition proposals for the Company will be made; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive transaction agreement relating to the proposed transaction, including in circumstances which would require the Company to pay a termination fee; the effect of the announcement or pendency of the proposed transaction on the Company's ability to attract, motivate or retain key executives and associates, its ability to maintain relationships with its customers, vendors, service providers and others with whom it does business, or its operating results and business generally; potential material delays in realizing projected timelines; the current interest and potential attempt of hostile takeover from a third party may divert the management attention from Sonim's business and may require significant expenses; Sonim's material dependence on its relationship with a small number of customers who account for a significant portion of Sonim's revenue; Sonim's entry into the data device sector could divert our management team's attention from existing products; risks related to Sonim's ability to comply with the continued listing standards of the Nasdaq Stock Market and the potential delisting of Sonim's common stock; Sonim's ability to continue to develop solutions to address user needs effectively, including its next-generation products; the U.S. trade policy, including the imposition of tariffs; Sonim's reliance on third-party contract manufacturers and partners; Sonim's ability to stay ahead of the competition; Sonim's ongoing transformation of its business; the variation of Sonim's quarterly results; the lengthy customization and certification processes for Sonim's wireless carries customers; various economic, political, environmental, social, and market events beyond Sonim's control, as well as the other risk factors described under "Risk Factors" included in Sonim's most recent Annual Report on Form 10-K and any subsequent quarterly filings on Form 10-Q filed with the Securities and Exchange Commission (available at Sonim cautions you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Sonim assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law. Additional Information and Where to Find It This communication relates to the proposed transaction involving Sonim. This communication does not constitute a solicitation of any vote or approval. In connection with the proposed transaction, Sonim plans to file with the SEC a proxy statement (the "Proxy Statement") relating to a special meeting of its stockholders and may file other documents with the SEC relating to the proposed transaction, including a prospectus. This communication is not a substitute for the Proxy Statement or any other document that Sonim may file with the SEC or send to its stockholders in connection with the proposed transaction. Before making any voting decision, stockholders of Sonim are urged to read the Proxy Statement in its entirety when it becomes available and any other relevant documents filed or to be filed with the SEC and any amendments or supplements thereto and any documents incorporated by reference therein, because they will contain important information about the proposed transaction and the parties to the proposed Transaction. Any vote in respect of resolutions to be proposed at a stockholder meeting of Sonim to approve the proposed transaction or related matters, or other responses in relation to the proposed transaction, should be made only on the basis of the information contained in the Proxy Statement. Investors and security holders will be able to obtain the Proxy Statement and other documents Sonim files with the SEC (when available) free of charge at the SEC's website ( or at Sonim's investor relations website ( or by e-mailing Sonim at ir@ Participants in the Solicitation Sonim and its respective directors, executive officers, and other members of their management and employees, including Peter Liu (Chief Executive Officer and a director), Clay Crolius (Chief Financial Officer), and Sonim's directors — James Cassano, Mike Mulica, Jack Steenstra, and George Thangadurai — under SEC rules, may be deemed to be participants in the solicitation of proxies of Sonim's stockholders in connection with the proposed Transaction. Stockholders may obtain more detailed information regarding Sonim's directors and executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, under the captions "Directors, Executive Officers, and Corporate Governance," "Security Ownership of Certain Beneficial Owners and Management," and "Certain Relationships and Related Party Transactions" of Sonim's definitive proxy statement for the 2025 Annual Meeting filed with the SEC on June 18, 2025. Any subsequent updates following the date hereof to the information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement and other materials to be filed with the SEC in connection with the proposed Transaction, if and when they become available. These documents will be available free of charge as described above. Media ContactAnette GavenSonim TechnologiesM: 619-993-3058pr@ SONIM TECHNOLOGIES, CONSOLIDATED BALANCE SHEETS(IN THOUSANDS EXCEPT SHARE ANDPER SHARE AMOUNTS) June 30,2025 December 31,2024(Unaudited) Assets Cash and cash equivalents $ 2,006 $ 5,343Accounts receivable, net2,870 4,339Non-trade receivable6,967 7,119Related party receivable181 181Inventory9,889 10,621Prepaid expenses and other current assets5,210 4,562Total current assets27,123 32,165Property and equipment, net161 227Contract fulfillment assets8,014 6,399Other assets780 948Total assets $ 36,078 $ 39,739Liabilities and stockholders' equity (deficit) Accounts payable $ 20,583 $ 22,848Accrued liabilities12,163 20,892Promissory note, net, current portion2,916 -Total current liabilities35,662 43,740Income tax payable1,750 1,699Total liabilities37,412 45,439Commitments and contingencies Stockholders' equity (deficit) Common stock, $0.001 par value per share; 100,000,000 shares authorized; and 10,338,905 and 4,983,868 shares issued and outstanding at June 30, 2025, and December 31, 2024, respectively10 5Preferred stock, $0.001 par value per share, 5,000,000 shares authorized, and no shares issued and outstanding at June 30, 2025, and December 31, 2024, respectively- -Additional paid-in capital289,281 277,903Accumulated deficit(290,625 ) (283,608 ) Total stockholders' equity (deficit)(1,334 ) (5,700 ) Total liabilities and stockholders' equity (deficit) $ 36,078 $ 39,739 SONIM TECHNOLOGIES, CONSOLIDATED STATEMENTS OF OPERATIONS(IN THOUSANDS EXCEPT SHARE AND PER SHARE AMOUNTS)(UNAUDITED) Three Months Ended Six Months EndedJune 30, June 30,2025 2024 2025 2024Net revenues $ 11,190 $ 11,516 $ 27,911 $ 20,634Related party net revenues- - - 7,658Total net revenues11,190 11,516 27,911 28,292Cost of revenues10,345 8,547 18,710 22,421Gross profit845 2,969 9,201 5,871Operating expenses Research and development909 557 2,542 1,013Sales and marketing3,445 3,219 6,684 5,711General and administrative3,223 2,446 6,062 5,089Impairment of contract fulfillment assets- 3,217 - 3,217Total operating expenses7,577 9,439 15,288 15,030Income (loss) from operations(6,732 ) (6,470 ) (6,087 ) (9,159 ) Interest expense, net(389 ) (17 ) (480 ) (17 ) Other expense, net(215 ) (92 ) (179 ) (184 ) Income (loss) before income taxes(7,336 ) (6,579 ) (6,746 ) (9,360 ) Income tax expense(139 ) (37 ) (271 ) (162 ) Net income (loss) $ (7,475 ) $ (6,616 ) $ (7,017 ) $ (9,522 ) Net income (loss) per share: Basic $ (0.79 ) $ (1.41 ) $ (0.91 ) $ (2.09 ) Diluted $ (0.79 ) $ (1.41 ) $ (0.91 ) $ (2.09 ) Weighted-average shares used in computing net income (loss) per share: Basic9,510,601 4,685,352 7,685,323 4,561,741Diluted9,510,601 4,685,352 7,685,323 4,561,741 Non-GAAP Financial Measures In addition to our financial results determined in accordance with U.S. GAAP, we believe the following non-GAAP and operational measures are useful in evaluating our performance-related metrics and present them as a supplemental measure of our performance. Adjusted EBITDA We define Adjusted EBITDA as net loss adjusted to exclude the impact of stock-based compensation expense, depreciation and amortization, interest expense, income taxes, adjustments due to the expiration of customer allowance agreements, impairment of contract fulfillment assets, financing costs, and non-recurring legal and professional fees. Adjusted EBITDA is a useful financial metric in assessing our operating performance from period to period by excluding certain items that we believe are not representative of our core business, such as certain material non-cash items and other adjustments, such as stock-based compensation. We believe that Adjusted EBITDA, viewed in addition to, and not in lieu of, our reported GAAP results, provides useful information to investors regarding our performance and overall results of operations for various reasons, including: one-time non-cash asset impairment costs, financing costs, and non-recurring legal and professional fees as they do not reflect normal operations; non-cash equity grants made to employees at a certain price do not necessarily reflect the performance of our business at such time, and as such, stock-based compensation expense is not a key measure of our operating performance; and non-cash depreciation and amortization are not considered a key measure of our operating performance. We use Adjusted EBITDA: as a measure of operating performance; for planning purposes, including the preparation of budgets and forecasts; to allocate resources to enhance the financial performance of our business; to evaluate the effectiveness of our business strategies; in communications with our board of directors concerning our financial performance; and as a consideration in determining compensation for certain key employees. Adjusted EBITDA has limitations as an analytical tool, and should not be considered in isolation, or as a substitute for analysis of our results as reported under GAAP. Some of these limitations include: it does not reflect all cash expenditures, future requirements for capital expenditures or contractual commitments; it does not reflect changes in, or cash requirements for, working capital needs; it does not reflect interest expense on our debt or the cash requirements necessary to service interest or principal payments; and other companies in our industry may define and/or calculate this metric differently than we do, limiting its usefulness as a comparative measure. Set forth below is a reconciliation from net income (loss) to Adjusted EBITDA for the respective periods (in thousands): Three Months Ended June 30,2025 March 31,2025Net income (loss) $ (7,475 ) $ 458Depreciation and amortization797 1,055Stock-based compensation926 290Release of customer allowance liabilities(219 ) (5,271 ) Non-recurring legal and professional fees613 -Impairment of contract fulfillment assets1,084 -Interest expense and financing costs984 91Income taxes139 132Adjusted EBITDA $ (3,151 ) $ (3,245 ) To view the source version of this press release, please visit Sign in to access your portfolio
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OpenAI's GPT-5 Met With Mixed Reviews, Confusion in First Day
(Bloomberg) -- For months, OpenAI Chief Executive Officer Sam Altman has been hyping up the capabilities of GPT-5, setting up the launch as a seminal moment for the company. But in the first 24 hours after its release, the new model was met with mixed reviews. All Hail the Humble Speed Hump Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Major Istanbul Projects Are Stalling as City Leaders Sit in Jail Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms In its announcement Thursday, OpenAI said GPT-5 was better at coding and reasoning through complex problems, and touted it as advanced enough to turn chatbot ChatGPT into a Ph.D.-level expert. Some with early access praised the model, with caveats. 'It's my new favorite model,' developer Simon Willison wrote in a blog post, calling it 'competent' and 'occasionally impressive.' He added: 'It's not a dramatic departure from what we've had before.' On various social media platforms, however, ChatGPT users expressed frustration that GPT-5 continued to make up information and trip over simple math and spelling questions. Noah Giansiracusa, an associate professor of mathematics at Bentley University, said he felt the launch was 'underwhelming.' While there were 'some improvements,' he said, 'they were much more marginal than I would've hoped.' At least some of the reaction may come down to confusion over what's happening under the hood. Unlike OpenAI's prior software, GPT-5 automatically switches between models of varying levels of sophistication depending on the query. This approach can help maximize the company's computing resources, but it also means users may not always be engaging with the most powerful version of OpenAI's technology. Asked to identify how many times the letter 'b' shows up in 'blueberry,' for example, GPT-5 initially said 'three' in one test. When told to 'think harder,' however, GPT-5 appeared to engage its more advanced reasoning model and came up with the correct answer. On Friday, Altman responded to some of the feedback and said there was an issue with the system. 'GPT-5 will seem smarter starting today,' he said. 'Yesterday, the autoswitcher broke and was out of commission for a chunk of the day, and the result was GPT-5 seemed way dumber.' The stakes are high for the rollout. OpenAI is vying to keep ahead of growing AI competition from rivals in the US and China. The company is also fighting to convince businesses and individual users to pay up for its premium services to help offset the enormous amount it's spending on talent, chips and data centers to support AI development. The San Francisco-based company kicked off the generative AI boom nearly three years ago with the release of ChatGPT, which was originally powered by an earlier model called GPT-3.5. Since then, the company has released a series of increasingly sophisticated systems, including multiple options that mimic the process of human reasoning. As AI systems advance, it's become harder to say definitively how various services stack up. As of midday Friday, GPT-5 had risen to the top of various categories on LMArena, a popular leaderboard for AI models based on user rankings. But a different benchmark, ARC-AGI-2, puts GPT-5 behind the latest version of Grok from Elon Musk's xAI. In the absence of more definitive assessments, the model wars sometimes come down to vibes. And with nearly 700 million people now using ChatGPT each week, some are bound to disagree over how the model feels. It also takes longer than a day to gauge the value of a new AI system in someone's personal and professional life. Ethan Mollick, a professor at the Wharton School of the University of Pennsylvania who frequently experiments with AI models, marveled at GPT-5's ability to do research, come up with clever written responses and make programming simple, even for a novice. 'GPT-5 just does stuff, often extraordinary stuff, sometimes weird stuff, sometimes very AI stuff, on its own,' he wrote in a blog post. 'And that is what makes it so interesting.' On Reddit, however, the reactions were very different. During an 'Ask Me Anything' session Friday on the platform, Altman fielded pushback from users who were frustrated not to have more say and visibility into which model responds to their queries. Altman said OpenAI would take some steps to address these complaints, including making it 'more transparent.' At one point, Altman responded to a Reddit user's question by noting that OpenAI thinks the 'writing quality' in one version of GPT-5 is better than GPT-4.5. Then he asked: 'Do you find it to be worse?' One user after another were quick to respond: yes. The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing Russia's Secret War and the Plot to Kill a German CEO It's Only a Matter of Time Until Americans Pay for Trump's Tariffs The Game Starts at 8. The Robbery Starts at 8:01 ©2025 Bloomberg L.P.
