Company: SONM
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001641172-25-009749
Chunk: 2

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 2
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 par value of the common stock or the authorized number of shares of common stock. All outstanding
stock options, restricted stock units, and warrants entitling their holders to purchase or obtain or convert into shares of our common
stock were adjusted, as required by the terms of these securities.

The
Company’s stockholders’ equity, in the aggregate, remained unchanged following the Reverse Stock Split. Net income (loss)
per share increased because there were fewer shares of common stock outstanding. There were no other accounting consequences, including
changes to the amount of stock-based compensation expense to be recognized in any period, that arose as a result of the Reverse Stock
Split.

All
common share and per-share amounts in this Form 10-Q have been retroactively restated to reflect the effect of the Reverse Stock Split.

    5

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 March 31, 2025, consist of existing cash and cash equivalents of $2,115. Subsequent to March 31, 2025, the
Company received net proceeds of $4,497 from the sale of shares through the Company’s At-The-Market (“ATM”) stock sales
program. The Company believes that it can meet its obligations over the next twelve months following the filing date of this report with
cash at March 31, 2025 and with the cash that was raised through the ATM subsequent to March 31, 2025.

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