SONIM TECHNOLOGIES INC
For the period ended Mar 31, 2024. Filed May 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
SONM$2.35+5.9%Stored close · as of Nov 10, 2026
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Item 1. Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS
MARCH 31, 2024 AND DECEMBER 31, 2023 (UNAUDITED)
(IN THOUSANDS EXCEPT SHARE AND
PER SHARE AMOUNTS)
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $9,252 | $9,397 |
| Accounts receivable, net | 13,337 | 25,304 |
| Non-trade receivable | 564 | 961 |
| Inventory | 4,823 | 6,517 |
| Prepaid expenses and other current assets | 1,561 | 1,608 |
| Total current assets | 29,537 | 43,787 |
| Property and equipment, net | 102 | 71 |
| Right-of-use assets | — | 55 |
| Contract fulfillment assets | 9,611 | 9,232 |
| Other assets | 3,135 | 2,898 |
| Total assets | $42,385 | $56,043 |
| Liabilities and stockholders’ equity | ||
| Accounts payable | $9,079 | $19,847 |
| Accrued liabilities | 11,884 | 12,233 |
| Current portion of lease liability | — | 55 |
| Deferred revenue | 12 | 12 |
| Total current liabilities | 20,975 | 32,147 |
| Income tax payable | 1,571 | 1,528 |
| Total liabilities | 22,546 | 33,675 |
| Commitments and contingencies (Note 8) | - | - |
| Stockholders’ equity | ||
| Common stock, $0.001 par value per share; 100,000,000 shares authorized: and 43,206,083 and 43,081,083 shares issued and outstanding at March 31, 2024, and December 31, 2023, respectively | 43 | 43 |
| Preferred stock, $0.001 par value per share, 5,000,000 shares authorized, and no shares issued and outstanding at March 31, 2024, and December 31, 2023, respectively | — | — |
| Additional paid-in capital | 272,662 | 272,285 |
| Accumulated deficit | (252,866) | (249,960) |
| Total stockholders’ equity | 19,839 | 22,368 |
| Total liabilities and stockholders’ equity | $42,385 | $56,043 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
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