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Sonim (SONM)

Sonim Technologies is a leading U.S. provider of ultra-rugged mobility solutions designed specifically for task workers physically engaged in their work environments, often in mission-critical roles. The Sonim solution includes ultra-rugged mobile phones, a suite of industrial-grade accessories, and data and workflow applications which are collectively designed to increase worker productivity, communication and safety on the job site.

Company profile

Ticker
SONM
Exchange
CEO
Thomas Wilkinson
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Sonim Technologies (INDIA) Private Limited • Sonim Technologies (Shenzhen) Limited • Sonim Technologies Shenzhen Limited • Sonim Communications (India) Private Limited • Sonim Technologies (Hong Kong) Limited ...
IRS number
943336783

SONM stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

12 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 18.16M 18.16M 18.16M 18.16M 18.16M 18.16M
Cash burn (monthly) (no burn) (no burn) 1.41M 2.83M (no burn) 1.93M
Cash used (since last report) n/a n/a 4.3M 8.65M n/a 5.88M
Cash remaining n/a n/a 13.86M 9.5M n/a 12.27M
Runway (months of cash) n/a n/a 9.9 3.4 n/a 6.4

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Aug 22 AJP Holding Common Stock Buy Acquire P No No 0.84 5,534,881 4.65M 19,463,452
5 Aug 22 James S Cassano Common Stock Grant Acquire A No No 0 85,714 0 85,714
5 Aug 22 Howe Alan B Common Stock Grant Acquire A No No 0 85,714 0 126,853
5 Aug 22 Michael C Mulica Common Stock Grant Acquire A No No 0 85,714 0 181,293
5 Aug 22 Jose Carlos Principe Common Stock Grant Acquire A No No 0 85,714 0 85,714
14.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 17 21 -19.0%
Opened positions 3 8 -62.5%
Closed positions 7 6 +16.7%
Increased positions 3 4 -25.0%
Reduced positions 4 3 +33.3%
13F shares Current Prev Q Change
Total value 3.97M 5.53M -28.2%
Total shares 5.39M 7.05M -23.5%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
GrizzlyRock Value Partners 1.9M $1.38M 0.0%
Asher Daniel 1.57M $1.14M 0.0%
Investec Investments 1.41M $1.02M 0.0%
BK Bank Of New York Mellon 220.67K $189K NEW
Geode Capital Management 62.76K $53K 0.0%
Susquehanna Fundamental Investments 58.7K $50K 0.0%
Susquehanna International 49.94K $43K +69.6%
C Citigroup 39.21K $34K +163.9%
Ergoteles 25.1K $21K NEW
Renaissance Technologies 24.07K $21K -78.5%
Largest transactions Shares Bought/sold Change
MS Morgan Stanley 1.42K -1.3M -99.9%
Vanguard 0 -267.85K EXIT
BK Bank Of New York Mellon 220.67K +220.67K NEW
Quadrature Capital 0 -121.49K EXIT
Renaissance Technologies 24.07K -87.96K -78.5%
CS Credit Suisse 0 -60K EXIT
VIRT Virtu Financial 0 -51.52K EXIT
Ergoteles 25.1K +25.1K NEW
C Citigroup 39.21K +24.35K +163.9%
Jane Street 0 -22.64K EXIT

Financial report summary

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Risks
  • Our consolidated financial statements included a statement that there is a substantial doubt about our ability to continue as a going concern and a continuation of negative financial trends could result in our inability to continue as a going concern.
  • Our liquidity has been adversely impacted by our ongoing net losses, including as a result of declines in the sales of our legacy products while our next generation products are still under development, and our ongoing SEC investigation, and there is no assurance that we will have sufficient liquidity to continue operations.
  • We may not be able to continue to develop solutions to address user needs effectively, including our next generation products, which would materially adversely affect our liquidity and our ability to continue operations.
  • We are dependent on the continued services and performance of a concentrated and limited group of senior management and other key personnel, the loss of any of whom could adversely impact our business.
  • We have not been profitable in recent years and may not achieve or maintain profitability in the future.
  • Our business is difficult to evaluate because we have a limited operating history in our markets.
  • We continue to restructure and transform our business. The assumptions underlying these efforts may prove to be inaccurate, or we may fail to achieve the expected benefits from these efforts, and we may have to restructure or transform our business again in the future.
  • We are materially dependent on the adoption of our solutions by both the industrial enterprise and public sector markets, and if end customers in those markets do not purchase our solutions, our revenues will be adversely impacted, and we may not be able to expand into other markets.
  • Our quarterly results may vary significantly from period to period, which could make our future results difficult to predict and could cause our operating results to fall below investor, analyst or our expectations.
  • We participate in a competitive industry, which may become more competitive. Competitors with greater resources and significant experience in high-volume product manufacturing may be able to respond more quickly and cost-effectively than we can to new or emerging technologies and changes in customer requirements.
  • We rely primarily on third-party contract manufacturers and partners. If these relationships are disrupted and we are unable to obtain substitute manufacturers or partners, on favorable terms or at all, our business, operating results and financial condition may be harmed.
  • If our products contain defects or errors, we could incur significant unexpected expenses, experience product returns and lost sales, experience product recalls, suffer damage to our brand and reputation, and be subject to product liability or other claims.
  • We compete in a rapidly evolving market, and the failure to respond quickly and effectively to changing market requirements could cause our business and operating results to decline.
  • If our business does not grow as we expect, or if we fail to manage our growth effectively or if our cost cutting measures are not sufficient our operating results and business would suffer.
  • We are required to undergo a lengthy customization and certification process for each wireless carrier customer, which increases our operating expenses, and failure to obtain such certification would adversely impact our results of operations and financial condition.
  • If we fail to adequately forecast demand for our inventory and supply needs, we could incur additional costs or experience manufacturing delays, which could reduce our gross margin or cause us to delay or even lose sales.
  • The markets for our devices and related accessories may not develop as quickly as we expect or may not develop at all.
  • Our dependence on third-party suppliers for key components of our products could delay shipment of our products and reduce our sales.
  • Our future success is dependent on our ability to create independent brand awareness for our company and products with end customers, and our inability to achieve such brand awareness could limit our prospects.
  • If we are unable to sell our solutions into new markets, our revenues may not grow.
  • Our existing IT systems may not be adequate to manage our growth, and our implementation of updated IT systems could result in significant disruptions to our operations.
  • A security breach or other significant disruption of our IT systems or those of our partners, suppliers or manufacturers, caused by cyberattacks or other means, could have a negative impact on our operations, sales, and operating results.
  • Our ability to use our net operating losses to offset future taxable income will be subject to certain limitations.
  • Changes in the availability of federal funding to support local public safety or other public sector efforts could impact our opportunities with public sector end customers.
  • We face risks related to health epidemics, pandemics and other outbreaks, including the COVID-19 pandemic, which have had, and may in future have, a material adverse effect on the Company’s business, results of operations and financial condition and/or cash flows.
  • Changes in laws and regulations concerning the use of telecommunication bandwidth could increase our costs and adversely impact our business.
  • Failure of our suppliers, subcontractors, distributors, resellers, and representatives to use acceptable legal or ethical business practices, or to fail for any other reason, could negatively impact our business.
  • Natural or man-made disasters and other similar events may significantly disrupt our business, and negatively impact our operating results and financial condition.
  • We are subject to a wide range of privacy and data security laws, regulations and other legal obligations.
  • We are exposed to risks associated with strategic transactions.
  • If we are unable to successfully protect our intellectual property, our competitive position may be harmed.
  • Others may claim that we infringe on their intellectual property rights, which may result in costly and time-consuming litigation and could delay or otherwise impair the development and commercialization of our products.
  • Our inability to obtain and maintain any third-party license required to develop new products and product enhancements could seriously harm our business, financial condition and results of operations.
  • We have identified one material weakness in our internal control over financial reporting which, if not remediated, could result in material misstatements in our financial statements.
  • We have failed, and may continue to fail, to meet the listing standards of Nasdaq, and as a result our common stock may become delisted, which could have a material adverse effect on the liquidity of our common stock.
  • Our amended and restated certificate of incorporation designates the U.S. federal district courts as the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. We will seek to enforce these provisions.
  • The market price of our common stock is likely to be volatile and could fluctuate or decline, resulting in substantial loss of your investment.
  • Unless our common stock continues to be listed on a national securities exchange it will become subject to the so-called “penny stock” rules that impose restrictive sales practice requirements.
  • We are an “emerging growth company” and we cannot be certain whether the reduced disclosure requirements applicable to emerging growth companies will make our common stock less attractive to investors.
  • The requirements of being a public company may strain our resources and distract our management, which could make it difficult to manage our business, particularly after we are no longer an “emerging growth company.”
  • Changes in U.S. trade policy, including the imposition of tariffs and the resulting consequences, may have a material adverse impact on our business, operating results and financial condition.
  • Economic uncertainties or downturns, or political changes, could limit the availability of funds available to our customers and potential customers, which could significantly adversely impact our business.
  • The unfavorable outcome of any future litigation, arbitration or administrative action could have a significant adverse impact on our financial condition or results of operations.
  • We are subject to a wide range of product regulatory and safety, consumer, worker safety and environmental laws and regulations.
  • Foreign currency fluctuations may reduce our competitiveness and sales in foreign markets.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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