Sonim Q1 revenue up 25% sequentially to $16.8M; net loss widens to $2.9M

DNA X, Inc.

2024-Q1 EPS reported -$0.07 vs consensus -$5.51 ▲ beat (+98.7%)

Net revenue $16.8M, up 25% sequentially; GAAP net loss $2.9M vs $1.4M loss in Q4 2023.
Adjusted EBITDA negative $1.6M vs positive $0.2M in prior quarter.
Secured design awards with every tier-one carrier in US and Canada for next-gen rugged smartphone.
Advanced 13 carrier awards toward summer 2024 launch; addressable market expands from $400M to $52B.
Ended quarter with $9.3M cash; raised $3.85M equity at 126% premium to April 26 closing price.

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 quarter ended March 31, 2024 results: revenue $16.8 million, net income $2.9 million.

Period: the quarter ended March 31, 2024
Revenue: $16.8 million
Net income: $2.9 million
Result: reported results

Exact text from the filing

Sonim Technologies, Inc . (Nasdaq: SONM) , a leading provider of mobility solutions that include ultra-rugged and rugged phones, connected devices, consumer durable mobile devices, and accessories designed to provide extra protection for users that demand more durability in their work and everyday lives, reported financial results for the quarter ended March 31, 2024. First Quarter 2024 and Recent Highlights ● Net revenues increased by 25% sequentially, to $16.8 million ● GAAP net loss for the quarter was $2.9 million, compared to net loss of $1.4 million in the fourth quarter 2023 due to sales product mix.

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Source: SEC EDGAR

accession 0001493152-24-019232

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