Sonim Technologies, Inc. (NASDAQ: SONM) announced that its stockholders approved an Asset Purchase Agreement with NEXA (formerly Social Mobile) on December 30, 2025. The agreement transfers almost all of Sonim’s rugged mobile‑phone and hotspot business to NEXA, with the transaction expected to close in January 2026.
The deal provides Sonim with $15 million in cash and a potential $5 million earn‑out tied to future revenue performance. Management plans to use the proceeds to retire debt and to fund the company’s newly acquired DNA X cryptocurrency trading platform, which was purchased in December 2025. Following the sale, Sonim will rebrand as DNA X, Inc. and will trade under the new Nasdaq ticker “DNAX.”
The transaction marks a fundamental shift from Sonim’s legacy rugged‑device focus to a high‑growth, high‑volatility decentralized‑finance (DeFi) model. Prior to the sale, Sonim reported a Q3 2025 revenue of $16.2 million and a GAAP net loss of $4.8 million, an improvement over Q2 2025’s $11.2 million revenue and $7.5 million loss. The company’s full‑year 2024 revenue of $58.3 million fell from $93.6 million in 2023, and its current ratio of 0.78 and negative EBITDA of $28.27 million underscored the financial pressure that prompted the divestiture. A 1‑for‑18 reverse stock split effective October 27, 2025, was also undertaken to maintain Nasdaq listing compliance.
Executive Chair Mike Mulica said the sale “represents a clear inflection point for Sonim. Stockholder approval allows us to place the rugged mobility business with NEXA, which is well positioned to support customers, while enabling the public company to focus exclusively on scaling the DNA X crypto trading platform.” Mulica added that the transaction provides the liquidity needed to address debt and to invest in a platform with the potential for significant upside.
Investors welcomed the transaction, citing the immediate debt reduction and the company’s shift toward a high‑growth DeFi platform. NEXA will continue to manufacture and sell Sonim‑branded rugged devices, while Sonim’s remaining operations will concentrate on DNA X, positioning the company for a new growth trajectory.
The sale also signals a broader strategic realignment: Sonim’s rugged‑device business, once a core revenue driver, has become a source of operating losses, whereas the DNA X platform offers a scalable, technology‑driven revenue model. The transaction’s completion in January 2026 will leave Sonim as a shell entity focused on the crypto trading platform, underscoring the urgency of the pivot and the company’s commitment to a new business direction.
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