Sonim Technologies announced its financial results for the fourth quarter and full year ended December 31, 2024, on March 31, 2025. Fourth-quarter revenue increased 12% year-over-year to $15.0 million, driven by new product momentum.
However, full-year 2024 revenue decreased 38% year-over-year to $58.3 million, reflecting a strategic transition from the white-label business to innovative solutions. The company reported a full-year gross margin of 17%, with the fourth quarter seeing a negative 1% gross margin due to a $3.0 million impairment charge.
R&D expenses increased in 2024 due to investments in new connected solutions and phone development. Sonim ended the year with $5.3 million in cash. Following year-end, the company secured $3.7 million from stock sales and raised an additional $3.0 million through new debt.
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