Company: SONM
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001641172-25-022821
Chunk: 3

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 3
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 this Form 10-Q have been retroactively restated to reflect the effect of the Reverse Stock Split.

 Liquidity
and Ability to Continue as a Going Concern

The
Company’s condensed consolidated financial statements account for the continuation of its business as a going concern. The
Company is subject to the risks and uncertainties associated with the development and release of new products. The Company’s principal
sources of liquidity as of June 30, 2025, consist of existing cash and cash equivalents of $2,006. Subsequent to June 30, 2025, the Company
received net proceeds of approximately $4,800 from the sale of shares through its public offering and net proceeds of approximately $2,320
from the sale of a promissory note, as well as entered into an additional receivables financing agreement for international receivables, which gives
the Company access to up to €3,000 (see Note 11, Subsequent Events, for additional details). The Company believes that it can meet its
obligations over the next twelve months following the filing date of this report with cash at June 30, 2025 and with the cash that was
raised subsequent to June 30, 2025.

    6

Basis
of presentation and preparation

The
condensed consolidated financial statements include the accounts of Sonim Technologies, Inc. and its wholly owned subsidiaries (collectively
“Sonim” or the “Company”). Intercompany accounts and transactions have been eliminated. In the opinion of the
Company’s management, the condensed consolidated financial statements reflect all adjustments, which are normal and recurring in
nature, necessary for fair financial statement presentation. The preparation of these condensed consolidated financial statements and
accompanying notes in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make
estimates and assumptions that affect the amounts reported. Actual results could differ materially from those estimates. Certain prior
period amounts in the condensed consolidated financial statements and accompanying notes have been reclassified to conform to the current
period’s presentation. These condensed consolidated financial statements and accompanying notes should be read in conjunction with
the Company’s annual consolidated financial statements and accompanying notes included in its Annual Report on Form 10-K for the
year ended December 31, 2024.

As
discussed above, all per share amounts and common shares amounts have been adjusted on a retroactive basis to reflect the effect of the
Reverse Stock Split. Proportion