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Yahoo
08-08-2025
- Business
- Yahoo
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
The Star
16-06-2025
- Business
- The Star
No need for travel e-SIM or roaming: S'pore telcos offer generous cross-border data bundles
SINGAPORE: More local telcos are offering 'borderless' mobile plans at record low prices to woo an increasing number of globetrotting consumers. Such plans allow consumers to use a generous bundle of mobile data across borders without paying more, or activating a travel e-SIM or roaming feature. The latest to jump on this trend is M1, whose Maxx plan offers 290GB of data for use in Singapore and Malaysia for a record low of S$7.90 (US$6.16) a month. The plan also includes 10GB of mobile data for use in Indonesia, Bangladesh, Malaysia, Thailand and Taiwan. This follows the January launch of Simba Telecom's S$10 monthly SuperRoam 10 plan that provides 300GB of 5G data that can be used in Singapore, Malaysia and Hong Kong. A separate 12GB of roaming mobile data for seven other Asian destinations is included in the same plan. Singapore's virtual telco started the borderless trend here in September 2023, when it let customers use 100GB across eight Asian destinations (Singapore, Malaysia, Indonesia, Thailand, Taiwan, Hong Kong, Sri Lanka and Bangladesh). The monthly plan costs S$30 for the first three months, and S$37 after that. Fabian Sossa, vice-president of corporate and global marketing at said: 'The plan is designed for mobile professionals, digital nomads, students, tourists and families with cross-border ties... essentially anyone who needs connectivity across multiple countries without friction.' Since then, other telcos have followed suit. While most of these plans today cover connectivity in Malaysia, others also include popular Asian destinations like Indonesia, Thailand, Taiwan and Hong Kong. A rise in cross-border travel after the Covid-19 pandemic provided the initial impetus. For instance, the number of daily travellers at the Woodlands Checkpoint stood at 327,000 on average in 2024. This is up 22 per cent from the 269,000 in 2023, according to the Immigration and Checkpoints Authority. Likewise, in 2024, Indonesia received 1.4 million visitors from Singapore, while Singapore received 2.49 million visitors from Indonesia. Singapore is one of the top five source countries for visitors to Indonesia, while Indonesia is the second-largest source country for visitors to Singapore. Experts said the setting up of special trade zones in the region and the upcoming launch of the Johor Bahru-Singapore Rapid Transit System (RTS) Link will further boost demand for such mobile data plans. These special economic zones, which include the Johor-Singapore Special Economic Zone, are meant to boost the flow of goods, services and people across borders, and reduce barriers to trade and investment. The RTS Link will connect Malaysia's second-largest city, Johor Bahru, and Woodlands in Singapore over the Strait of Johor. It is expected to be completed by the end of 2026. Peter Liu, an analyst at Gartner specialising in telecoms, said the upcoming special economic zones will significantly increase business travel and create a new category of 'super commuters' comprising skilled professionals working across borders daily or weekly. 'The seamless border, competitive tax incentives and infrastructure investments will normalise cross-border work arrangements, making borderless connectivity services essential rather than optional for this emerging professional class,' he said. Even prior to the setting up of the economic zones, the number of Malaysians and Singaporeans crossing each other's borders already provides a captive market for telcos, said Simba Telecom chief technology officer Benjamin Tan. 'The days of rationing roaming data are behind us. Consumers today want to use their mobile devices as freely outside as they do at home,' he said. Shilpa Aggarwal, vice-president of mobile customer solutions at Singtel, also cited the large number of mobile workers between Singapore and Malaysia as a reason for the telco's generous Malaysia roaming data allowance. Gomo, a sub-brand of Singtel, offers a basic 300GB of local data as well as 6GB of roaming data for use in Malaysia, Indonesia, Thailand, Taiwan and Australia for S$15 a month. Soh Wei Sheng, 30, who recently completed his master's degree, subscribes to Simba's 300GB plan as he frequently travels to Malaysia and Indonesia for leisure with his family. 'It is affordable and hassle-free when I travel,' he said. Cinthia Poh, a 41-year-old civil servant, uses Singtel Gomo so she does not have to purchase travel SIM cards any more when she travels to Malaysia, Thailand and Indonesia. She usually buys add-ons when the overseas roaming data is insufficient. Analysts said it is unlikely that the regions covered by these borderless mobile plans will expand, as telcos still need to make money, particularly from roaming fees. Kiranjeet Kaur, associate research director at IDC, said: 'Roaming still forms a significant part of a telco's revenue. Incumbent telcos will still try to retain their consumer base with premium offerings rather than joining the race to the bottom in prices.' - The Straits Times/ANN
Business Times
16-06-2025
- Business
- Business Times
No need for travel e-SIM or roaming: Singapore telcos offer generous cross-border data bundles
[SINGAPORE] More local telcos are offering 'borderless' mobile plans at record low prices to woo an increasing number of globetrotting consumers. Such plans allow consumers to use a generous bundle of mobile data across borders without paying more, or activating a travel e-SIM or roaming feature. The latest to jump on this trend is M1, whose Maxx plan offers 290GB of data for use in Singapore and Malaysia for a record low of S$7.90 a month. The plan also includes 10GB of mobile data for use in Indonesia, Bangladesh, Malaysia, Thailand and Taiwan. This follows the January launch of Simba Telecom's S$10 monthly SuperRoam 10 plan that provides 300GB of 5G data that can be used in Singapore, Malaysia and Hong Kong. A separate 12GB of roaming mobile data for seven other Asian destinations is included in the same plan. Singapore's virtual telco started the borderless trend here in September 2023, when it let customers use 100GB across eight Asian destinations (Singapore, Malaysia, Indonesia, Thailand, Taiwan, Hong Kong, Sri Lanka and Bangladesh). The monthly plan costs S$30 for the first three months, and S$37 after that. Fabian Sossa, vice-president of corporate and global marketing at said: 'The plan is designed for mobile professionals, digital nomads, students, tourists and families with cross-border ties... essentially anyone who needs connectivity across multiple countries without friction.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Since then, other telcos have followed suit. While most of these plans today cover connectivity in Malaysia, others also include popular Asian destinations such as Indonesia, Thailand, Taiwan and Hong Kong. A rise in cross-border travel after the Covid-19 pandemic provided the initial impetus. For instance, the number of daily travellers at the Woodlands Checkpoint stood at 327,000 on average in 2024. This is up 22 per cent from the 269,000 in 2023, according to the Immigration and Checkpoints Authority. Likewise, in 2024, Indonesia received 1.4 million visitors from Singapore, while Singapore received 2.49 million visitors from Indonesia. Singapore is one of the top five source countries for visitors to Indonesia, while Indonesia is the second-largest source country for visitors to Singapore. Experts said the setting up of special trade zones in the region and the upcoming launch of the Johor Bahru-Singapore Rapid Transit System (RTS) Link will further boost demand for such mobile data plans. These special economic zones, which include the Johor-Singapore Special Economic Zone, are meant to boost the flow of goods, services and people across borders, and reduce barriers to trade and investment. The RTS Link will connect Malaysia's second-largest city, Johor Bahru, and Woodlands in Singapore over the Strait of Johor. It is expected to be completed by the end of 2026. Peter Liu, an analyst at Gartner specialising in telecoms, said the upcoming special economic zones will significantly increase business travel and create a new category of 'super commuters' comprising skilled professionals working across borders daily or weekly. 'The seamless border, competitive tax incentives and infrastructure investments will normalise cross-border work arrangements, making borderless connectivity services essential rather than optional for this emerging professional class,' he said. Even prior to the setting up of the economic zones, the number of Malaysians and Singaporeans crossing each other's borders already provides a captive market for telcos, said Simba Telecom chief technology officer Benjamin Tan. 'The days of rationing roaming data are behind us. Consumers today want to use their mobile devices as freely outside as they do at home,' he said. Shilpa Aggarwal, vice-president of mobile customer solutions at Singtel, also cited the large number of mobile workers between Singapore and Malaysia as a reason for the telco's generous Malaysia roaming data allowance. Gomo, a sub-brand of Singtel, offers a basic 300GB of local data as well as 6GB of roaming data for use in Malaysia, Indonesia, Thailand, Taiwan and Australia for S$15 a month. Soh Wei Sheng, 30, who recently completed his master's degree, subscribes to Simba's 300GB plan as he frequently travels to Malaysia and Indonesia for leisure with his family. 'It is affordable and hassle-free when I travel,' he said. Cinthia Poh, a 41-year-old civil servant, uses Singtel Gomo so she does not have to purchase travel SIM cards any more when she travels to Malaysia, Thailand and Indonesia. She usually buys add-ons when the overseas roaming data is insufficient. Analysts said it is unlikely that the regions covered by these borderless mobile plans will expand, as telcos still need to make money, particularly from roaming fees. Kiranjeet Kaur, associate research director at IDC, said: 'Roaming still forms a significant part of a telco's revenue. Incumbent telcos will still try to retain their consumer base with premium offerings rather than joining the race to the bottom in prices.' THE STRAITS TIMES
Business Insider
23-04-2025
- Business
- Business Insider
Sonim Technologies Accelerates Expansion Strategy with Strong Momentum in the Second Quarter 2025
San Diego, California--(Newsfile Corp. - April 23, 2025) - Sonim Technologies, Inc. (NASDAQ: SONM), a leading U.S. provider of rugged mobile solutions, today announced significant progress in the execution of its expansion strategy, underscoring the company's commitment to long term growth and operational excellence. The foundation laid through strategic investments in 2024 has positioned Sonim for success through the development and delivery of new products and product categories, new customer acquisitions, the retention of an existing customer base due to upgrades to the next generation portfolio, and market expansion across North America, Europe, South Africa, and Australia. Copyright Sonim Technologies "Sonim entered the second quarter with strong momentum thanks to the disciplined execution of our strategy," said Peter Liu, CEO of Sonim. "Our investments are already laying the foundation for robust growth, with market acceptance affirming our progress. From product innovation and geographic diversification to operational advancements, we remain focused on delivering value to our customers and shareholders." New products set to launch in North America, EMEA, and Australia Sonim is set to launch three products as stocked offerings in the second quarter with Tier 1 carriers in North America. These include the company's flagship Sonim XP Pro next generation rugged 5G smartphone. Three additional products are slated to launch in the second quarter with leading distribution partners and Tier 1 operators, including Deutsche Telekom in Germany, which currently stocks three Sonim SKUs. These new placements further strengthen Sonim's growing footprint in these key markets. Purchase orders for second quarter launches Validating market demand, purchase orders have already been placed for Sonim's upcoming product launches late in the second quarter. Enterprise customer growth Sonim continues to attract and retain enterprise customers with next generation Sonim products. Notably, Sonim secured major next generation device upgrade agreements and/or expanded their current deployment base with leading Fortune 500 and enterprise customers. These include two of the top 10 healthcare systems in the United States, one of the largest integrated energy infrastructure companies in the U.S., and one of the world's largest emergency medical services companies. Diversified manufacturing options Demonstrating its commitment to a strengthened supply chain, Sonim has successfully diversified its manufacturing footprint outside of China. Production of all next generation 5G products is based in Taiwan and Vietnam, ensuring cost optimization and risk mitigation, while adhering to Sonim's proprietary Rugged Performance Standards and the highest quality benchmarks. "Our ability to execute at such a high level is a testament to the talented Sonim team," added Liu. "By proactively moving our manufacturing outside of China, we have minimized the impact of tariffs on our new products. We are closely monitoring the tariff situation and will take additional actions as needed to minimize the effect of tariffs on our customers. We are excited for what lies ahead as we continue to drive our expansion strategy across higher growth markets to deliver results that matter to all stakeholders." 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 projected revenue growth, the declaring and reaffirming of Sonim's business strategy and objectives, the successful expansion of Sonim's products in new markets, and the new product launches and associated timelines. 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; 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; 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.
