Sonim Technologies, Inc. announced its financial results for the second quarter ended June 30, 2025, on August 8, 2025. Total net revenues decreased by $0.30 million, or 3%, year-over-year to $11.19 million, primarily due to decreasing sales of legacy phones.
Gross profit saw a significant drop of $2.10 million, with the gross margin falling to 8% from 17% in Q2 2024. This compression was largely due to a $1.10 million impairment of contract fulfillment assets and additional tariff-related costs.
The company reported a net loss of $7.47 million in Q2 2025 and a net loss of $7.02 million for the first half of 2025. Cash and cash equivalents totaled $2.00 million as of June 30, 2025, reflecting a cash burn from operations of $14.50 million in the first half of 2025.
Operating expenses increased across the board, with R&D up $1.50 million, sales and marketing up $1.00 million, and general and administrative expenses up $1.00 million, primarily due to legal costs associated with a hostile takeover attempt and divestiture activities.
Subsequent to June 30, 2025, Sonim received approximately $4.80 million in net proceeds from a public offering on July 2, 2025, and an additional $2.30 million in net proceeds from a promissory note issued on July 11, 2025. This latter note carries a high effective interest rate of 22.60% and includes a mandatory prepayment clause.
The company also gained access to up to $2.50 million under an existing receivables financing agreement and an additional $3.00 million under a new international receivables financing agreement entered into on August 7, 2025. Customer concentration remains high, with wireless carriers accounting for 86% of total net revenues in H1 2025.
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