Company: SONM
Filing Date: 2025-11-24
Form Type: PREM14A
Source: 0001493152-25-024848
Chunk: 310

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-11-24
Form: PREM14A
Chunk 310
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 of Accrued Expenses

|                                  |     |   | September 30, 2025 |     |   | December 31, 2024 |
|:---------------------------------|:----|:--|-------------------:|:----|:--|------------------:|
| Customer allowances              |     | $ |              4,171 |     | $ |            11,421 |
| Contract fulfillment liabilities |     |   |              2,070 |     |   |             2,939 |
| Inventory received, not billed   |     |   |              3,019 |     |   |             1,563 |
| Employee-related liabilities     |     |   |                859 |     |   |             2,247 |
| Other                            |     |   |              3,512 |     |   |             2,722 |
| Accrued liabilities              |     | $ |             13,631 |     | $ |            20,892 |

LS Receivables Financing Agreement

On September 23, 2024, the Company entered into an invoice purchase agreement (the “LS Receivables Financing Agreement”) with LS DE LLC (“LS”), pursuant to which LS will provide receivables factoring to the Company. Pursuant to the terms of the LS Receivables Financing Agreement, LS will advance 80% of the face value of the receivables being sold by the Company, up to a maximum of $2,500 of eligible customer invoices from the Company. In consideration of the advances, LS is entitled to receive (i) an invoice purchase fee equal to 0.20% of the face amount of each purchased invoice payable at the time of the purchase and (ii) a daily funds usage fee equal to 0.0388%, payable monthly in arrears on the last day of each month. Under the agreement, the Company must repurchase any invoices that LS deems to be uncollectible or no longer qualify as an Eligible Account, as defined in the LS Receivables Financing Agreement. The Company is accounting for this transaction as a secured borrowing and recognizes a factoring liability for any advances until the accounts receivables are collected. As of December 31, 2024, there was $591 outstanding under the LS Receivables Financing Agreement, which is included in accrued liabilities in the Condensed Consolidated Balance Sheets. As of September 30, 2025, the LS Rece