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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NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(In
Thousands, except Share and Per Share Amounts)

NOTE
1 — The Company and Its Significant Accounting Policies

Description
of Business

Sonim
Technologies, Inc. was incorporated in the state of Delaware on August 5, 1999, and is headquartered in San Diego, California. The Company
offers a robust portfolio that includes rugged handsets, smartphones, wireless internet devices, software, services, and accessories.
These products are engineered to deliver reliable communication in challenging and unpredictable environments, serving sectors such as
critical communications, first responders, government, industrial, construction, hospitality, and logistics. The Company distributes
its products primarily through major wireless carriers. The Company currently has products available at all three U.S. Tier-one carriers
– AT&T, T-Mobile and Verizon as well as the three primary carriers in Canada – Bell, Telus and Rogers, Telstra in Australia,
and multiple carriers throughout Europe. These carriers resell the Company’s products, along with network services, to end customers
focusing on two primary end markets: industrial enterprise and the public sector.

The
Company is executing a strategic expansion initiative, focusing on broadening its market reach with new products, geographical footprint,
and customer segments including enterprise, small and medium business, and prosumers. This strategy is underpinned by a strong emphasis
on execution. The Company has introduced new product categories: Connected Solutions featuring wireless internet products, a next-generation
rugged smartphone, and a new range of mid and low-tier professional rugged phones, all boasting IP ratings, MIL-STD-810H standards, and
elements of Sonim’s Rugged Performance Standards (“RPS”), highlighting the Company’s value proposition to target
markets.

During
the second half of 2024 and through the filing date of this report, the Company launched the following products:

    ●
    Sonim
    H500-series of 5G mobile hotspots available through Verizon, UScellular, and Bell in North America; 

    ●
    Sonim
    H700, the world’s first 5G Release 17 and Wi-Fi 7 rugged mobile hotspot, available through Telstra in Australia; 

    ●
    Sonim
    H100 4G mobile hotspot available through Telia Finland and distribution partners in Europe;

    ●
    XP100
    4G and XP400 5G professional rugged