Company: SONM
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001493152-25-020310
Chunk: 1

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 1
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 ●
    XP100
    4G and XP400 5G professional rugged phones available through Deutsche Telekom in Germany and distribution partners in Europe and
    South Africa; 

    ●
    XP
    Pro 5G rugged smartphone available through Verizon and Verizon Frontline Verified, AT&T and FirstNet Ready, and T-Mobile and
    certified for T-Priority in the United States, Bell, Telus, Rogers, and SaskTel in Canada, and through select distributors in Europe
    the Middle East, and Africa;

    ●
    XP
    Pro Thermal 5G rugged smartphone available in Europe, the Middle East, and Africa through select distributors; and

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

    5

Most
of these products are supported by the SonimWare™ platform and enterprise services. In 2025, all of the Company’s new products
that launched with tier-one carriers in the United States included a certification associated with carrier first responder initiatives,
including FirstNet Ready, FirstNet Trusted, Verizon Frontline Certified, and T-Mobile certified for T-Priority. During 2025 the Company
launched 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.

Proposed
Transaction with Social Mobile

On
July 17, 2025, the Company entered into an asset purchase agreement (the “Asset Purchase Agreement”) by and among the
Company, as seller, Pace Car Acquisition LLC, as buyer, (the “Buyer”), the Seller Representative named in the Asset
Purchase Agreement, and, Social Mobile Technology Holdings LLC (the “Parent”), solely for the purpose of guaranteeing
complete payment and performance obligations of the Buyer contained in the Asset Purchase Agreement.

Pursuant
to the Purchase Agreement, the Buyer agreed to