Sonim Q2 revenue $11.5M, net loss $6.6M; expects H2 sequential growth

DNA X, Inc.

2024-Q2 EPS reported -$2.09 vs consensus -$9.91 ▲ beat (+78.9%)

Net revenues of $11.5M, down from $16.8M in Q1 2024.
GAAP net loss of $6.6M included a $3.2M impairment charge; adjusted EBITDA was -$2.0M.
Ended quarter with $9.6M cash; raised $3.85M in an above-market equity transaction.
Began product launches with tier-one carriers; expects sequential revenue growth in Q3 and Q4.
Secured new product awards, including a 5G variant of the XP3plus flip phone with a US tier-one carrier.

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