Company: SONM
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009749
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Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
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 phones available through Deutsche Telekom in Germany and distribution partners in Europe and
    South Africa; 

    ●
    XP
    Pro 5G rugged smartphone available through Verizon in the United States; and

    ●
    XP3plus
    5G rugged flip phone available through T-Mobile and certified for T-Priority.

Additionally,
the XP10 is now available through the Company’s distribution partners in EMEA and Australia. Most of these products are supported
by the SonimWare platform and enterprise services. In the first quarter of 2025, the XP Pro 5G and H500 5G each received Verizon Frontline
certification. In the first quarter of 2025 we also announced the upcoming launch and availability of the XP Pro Thermal 5G smartphone
for Europe which includes an SDK-enabled Sonim IRIS software for custom application development and an integrated thermal camera by FLIR®
that benefits a number of vertical trades such as electricians, plumbers, public safety, construction, agriculture, amongst others.

A
significant revenue driver in the first quarter of 2024 was a range of low-priced products developed under Sonim’s original design
manufacturer (“ODM”) model, emphasizing high-volume and low-margin production tailored to a specific customer’s needs.
These sales concluded in the first quarter of 2024 due to its life cycle end. The ODM model does not represent the Company’s core
business strategy.

Reverse
Stock Split

On
July 17, 2024, the Company effected a 1-for-10 reverse stock split of its issued and outstanding common stock (the “Reverse Stock
Split”). The Company’s common stock began trading on the Nasdaq Capital Market on a post-split basis on July 18, 2024. As
a result of the Reverse Stock Split, each share of common stock issued and outstanding immediately prior to July 17, 2024, was automatically
converted into one-tenth (1/10) of a share of common stock. The Reverse Stock Split affected all common stockholders uniformly and did
not alter any stockholder’s percentage interest in the Company’s equity, except to the extent that the Reverse Stock Split
would result in a stockholder owning a fractional share. No fractional shares were issued in connection with the Reverse Stock Split.
Stockholders who otherwise would be entitled to receive a fractional share instead were entitled to receive one whole share in lieu of
such fractional share.

The
Reverse Stock Split did not change the