Company: SOBR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001477932-25-005544
Chunk: 84

Company: SOBR Safe, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 84
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2024 in conjunction with the 2024 PIPE Financing. The payments were made to satisfy the determined True-Up Payment obligation accrued as of June 30, 2025 and will not have an impact on the Company’s ability to continue as a going concern.

➢ On July 17, 2025, the Company’s stockholders approved and ratified an amendment to increase the number of shares authorized under the 2019 Equity Incentive Plan to 350,000 shares.

Summary of Results of Operations

Results of Operations for Three Months Ended June 30, 2025, Compared to Three Months Ended June 30, 2024

  Three Months EndedJune 30,   2025  2024 Revenues $104,228  $54,191 Cost of goods and services  44,344   41,156 Gross profit  59,844   13,035          Operating expenses:        General and administrative  1,815,028   1,395,933 Stock-based compensation expense  115,252   185,910 Research and development  198,675   308,427          Total operating expenses  2,128,955   1,890,270          Loss from operations  (2,069,071 )  (1,877,235 )         Other income (expense):        Other income, net  75,713   13,157 Interest expense  (2,127 )  (213,296 )Total other income (expense), net  73,586   (200,139 )         Net loss $(1,995,485 ) $(2,077,374 )

Revenue  

Revenues of $104,228 for the three-month period ended June 30, 2025, have increased by $50,037, or an increase of 92.3%, as compared to the prior year period of $54,191. This increase is primarily driven by increased sales of our SOBRsure device of $29,244, or 133.0%; an increase in sales of our SOBRsure software subscriptions of $25,177, or 342.7%; and an increase in our SOBRcheck software subscriptions of $5,009. These increases have been offset by decreased sales of our SOBRcheck device of $7,365 and an increase in sales