Company: SONM
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022821
Chunk: 45

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 45
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 received net proceeds of
$2.8 million from the issuance of the Note.

During
the six months ended June 30, 2025, we reported a net loss of $7.0 million and used $14.5 million in operating cash flow. As of June
30, 2025, our principal source of liquidity consisted of cash and cash equivalents totaling $2.0 million. Subsequent to June 30,
2025, we received net proceeds of approximately $4.8 million from the sale of shares through our registered public offering and net
proceeds of approximately $2.3 million from the sale of the July Note. We also have access to up to $2.5 million under our
Receivables Financing Agreement. Subsequent to June 30, 2025, we signed an additional receivables financing agreement for
international receivables, which gives us access to up to €3.0 million. As a result of the July Note, we are obligated to use
not less than 33% of the amount raised in any fundraising or financing transaction for prepayment of the July Note. We plan to
continue to leverage multiple sources of liquidity to maintain flexibility to meet our capital needs. We expect these sources of
liquidity to be sufficient to offset any future operating losses and to fund the development of new products over the next year.
Increased revenue from new products is expected to further improve cash flow over the next year. We expect to meet all obligations
with existing cash and subsequent funding for a period of at least one year from the date of release of the consolidated financial
statements included in this Quarterly Report on Form 10-Q.

27

Cash
Flows

The
following table summarizes our sources and uses of cash for the periods presented (in thousands):

    Six Months Ended June 30, 

    2025  
    2024 
  
    Net cash used in operating activities 
    $(14,488) 
    $(3,560)
  
    Net cash used in investing activities 
     —  
     (69)
  
    Net cash provided by financing activities 
     11,151  
     3,832 
  
    Net decrease in cash and cash equivalents 
    $(3,337) 
    $203 

Cash
flows from operating activities

For
the six months ended June 30, 2025, cash used in operating activities was $14.5 million, primarily attributable to