SONIM TECHNOLOGIES INC
For the period ended Jun 30, 2024. Filed Aug 9, 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.
Jun 30, 2024 · Filed Aug 9, 2024
SONM$2.35+5.9%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
SIX MONTHS ENDED JUNE 30, 2024 AND 2023 (UNAUDITED)
(IN THOUSANDS)
| Six Months Ended | ||
|---|---|---|
| June 30, | ||
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $(9,522) | $736 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 1,725 | 1,183 |
| Stock-based compensation | 796 | 667 |
| Stock issued for services | — | 201 |
| Impairment of contract fulfillment assets | 3,217 | — |
| Other | 132 | (138) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 3,215 | (4,143) |
| Non-trade receivable | (1,237) | 1,261 |
| Inventory | 1,695 | (826) |
| Prepaid expenses and other current assets | (1,397) | 437 |
| Contract fulfillment assets | (3,673) | (1,117) |
| Other assets | (177) | (64) |
| Accounts payable | 625 | (213) |
| Accrued liabilities | 1,062 | (1,367) |
| Deferred revenue | — | (31) |
| Income tax payable | (21) | 17 |
| Net cash used in operating activities | (3,560) | (3,397) |
| Cash flows from investing activities: | ||
| Purchase of property and equipment | (69) | (23) |
| Net cash used in investing activities | (69) | (23) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of common stock, net of issuance costs | 3,784 | — |
| Repayment of debt | — | (73) |
| Proceeds from stock option exercises, net of taxes paid on vested restricted stock units | 48 | — |
| Net cash provided by (used in) financing activities | 3,832 | (73) |
| Net increase (decrease) in cash and cash equivalents | 203 | (3,493) |
| Cash and cash equivalents at beginning of period | 9,397 | 13,213 |
| Cash and cash equivalents at end of period | $9,600 | $9,720 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $17 | $5 |
| Cash paid for income taxes | $12 | $69 |
| Non-cash activities: | ||
| Receivables transferred to satisfy payables (Note 4) | $11,308 | $— |
| Inventory financed through accrued expenses | $2,198 | $— |
| Contract fulfillment assets financed through accrued expenses | $2,166 | $— |
The accompanying notes are an integral part of these condensed consolidated financial statements*.*
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