Sonim Q2 2023 revenue up 125% to $26.8M; posts positive net income of $509K

DNA X, Inc.

2023-Q2 EPS reported $0.02 revenue$52,636,000

Net revenue $26.8M, up 125% YoY ($12.0M in Q2 2022) and sequential increase from $25.8M in Q1 2023.
GAAP net income of $509K vs. net loss of $4.2M in Q2 2022; second consecutive quarter of positive net income.
Gross profit margin 16.5% (down from 23.8% YoY) due to higher volume of lower-margin ODM tablet shipments.
Cash and equivalents $9.7M; essentially debt-free; accounts receivable $26.6M, inventory $4.7M.
New 5G phones selected by two tier-one carriers for 2024 launch; expanding into consumer-durable and data device markets.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DNA X, Inc. reported the second quarter ended June 30, 2023 results: revenue $26.8 million, net income $509 thousand.

Period: the second quarter ended June 30, 2023
Revenue: $26.8 million
Net income: $509 thousand
Result: reported results

Exact text from the filing

● Net revenues increased 125% year-over-year to $26.8 million, from $12.0 million in the second quarter 2022, and increased sequentially from $25.8 million in the first quarter 2023 ● Achieved positive GAAP net income of $509 thousand, compared to a net loss of $4.2 million in the second quarter of 2022, and a net profit of $227 thousand in the first quarter 2023

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Source: SEC EDGAR

accession 0001493152-23-029235

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