Sonim reports Q1 2023 revenue up 95% YoY to $25.8M, achieves positive GAAP net income of $227K

DNA X, Inc.

2023-Q1 EPS reported $0.01 revenue$25,801,000

Net revenues $25.8M, up 95% YoY from $13.3M; up 7% sequentially from $24.1M.
Positive GAAP net income of $227K vs net loss of $7.2M in Q1 2022.
Gross profit margin improved to 16% vs 12% in prior-year quarter.
Regained compliance with Nasdaq minimum bid price rule; SEC investigation concluded without enforcement.
Cash and equivalents $9.0M, essentially debt-free.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

DNA X, Inc. reported first quarter ended March 31, 2023 results: revenue $25.8 million, net income positive GAAP net income of $227 thousand.

Period: first quarter ended March 31, 2023
Revenue: $25.8 million
Net income: positive GAAP net income of $227 thousand
Result: reported results

Exact text from the filing

reported financial results for the first quarter ended March 31, 2023. First Quarter 2023 and Recent Highlights ● Net revenues increased 95% year-over-year to $25.8 million, from $13.3 million in the first quarter 2022, and 7% sequentially from $24.1 million in the fourth quarter 2022 ● Achieved positive GAAP net income of $227 thousand, compared to a net loss of $7.2 million in the first quarter of 2022, and a net loss of $1.0 million in the fourth quarter 2022

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Source: SEC EDGAR

accession 0001493152-23-015864

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