Company: SONM
Filing Date: 2025-12-05
Form Type: DEFM14A
Source: 0001493152-25-026277
Chunk: 310

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-12-05
Form: DEFM14A
Chunk 310
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 accounts receivable, net:

Schedule of Accounts Receivable

|                             |     |   | September 30, 2025 |   |     |   | December 31, 2024 |   |
|:----------------------------|:----|:--|-------------------:|:--|:----|:--|------------------:|:--|
| Trade receivables           |     | $ |              6,204 |   |     | $ |             6,906 |   |
| Allowance for credit losses |     |   |             (2,706 | ) |     |   |            (2,567 | ) |
| Total accounts receivable   |     | $ |              3,498 |   |     | $ |             4,339 |   |

As of January 1, 2024, accounts receivable, net, was $25,304 and non-trade receivables was $961.

The Company has non-trade receivables from manufacturing vendors resulting from the sale of components to the vendors who manufacture and assemble final products for the Company.

The Company determines the probability of default for each pool of receivables with similar risk characteristics. The probability of loss is applied to the value of the receivables and an allowance for potential credit losses is recorded with the offset to credit loss expense.

Five customers account for 15%, 15%, 13%, 13% and 11% of accounts receivable, net, at September 30, 2025. Three customers account for 33%, 24%, and 12% of accounts receivable, net, at December 31, 2024.

In October 2023, the Company stopped sales of the white label products to its customer as the product reached the end of its life cycle. In February 2024, an agreement was executed that transferred $11,308 of the receivables to the manufacturer of the white label products in exchange for relieving the Company of a $11,308 accounts payable liability.

| F-11 |

The following table presents the components of the Company’s inventory:

Schedule of Inventory

|                      |     |   | September 30, 2025 |     |   | December 31, 2024 |
|:---------------------|:----|:--|-------------------:|:----|:--|------------------:|
| Devices – for resale |     | $ |              2,194 |     | $ |