Sonim Technologies, Inc. (NasdaqCM:SONM) has been involved in several significant developments recently. On June 9, 2025, Shenzhen DOOGEE Hengtong Technology Co., Ltd proposed to acquire the company for $35.4 million, offering $3.6 per share. The Board of Directors formed a special committee to evaluate this proposal. Previously, on June 2, Social Mobile entered into a letter of intent to acquire substantially all assets of Sonim Technologies for $25 million. The company’s stock price was $1.680 USD as of June 16, 2025, with an 80.68% 5-day change and a 44.83% change since January 1.
Recent Financial and Acquisition Highlights
- On May 12, Sonim Technologies reported earnings results for the first quarter ended March 31, 2025.
- The company received $1.375 million in funding on May 11.
- On April 30, AJP Holding Company filed a preliminary proxy statement with the Securities and Exchange Commission.
- Sonim Technologies received a $4 per share takeover offer from Orbic on April 3.
- The company announced the appointment of Jack Steenstra as a member of the special committee on April 3.
- For the full year ended December 31, 2024, Sonim Technologies reported earnings results on March 31.
Business Overview
Sonim Technologies, Inc. specializes in ultra-rugged, rugged, and consumer durable mobile devices, including phones, wireless Internet data devices, tablets, and accessories. Their products are designed to provide extra protection for users and are sold to major wireless carriers in the United States and Canada, as well as through distributors in North America and Europe. The company’s solutions include ultra-rugged mobile phones, industrial-grade accessories, and software applications with cloud-based management tools.
Financial Performance
The company has been actively reporting its financial results throughout 2024 and 2025. Key highlights include:
- Q3 2024 revenue: $15M
- Q2 2024 revenue: $11.5M
- Q1 2024 revenue: $16.8M
Future Outlook
Sonim Technologies is expected to release its Q2 2025 earnings on August 17. The company provided financial guidance for the year 2025 on March 31, 2025.
