Sonim reports 51% year-over-year fourth quarter sales increase

Launches xp10 next-generation rugged android smartphone with major carriers new management model successfully driving growth in adjacent markets san diego, california--(newsfile corp. - march 20, 2023) - sonim technologies, inc. (nasdaq: sonm), a leading provider of ultra-rugged, rugged and consumer durable mobile devices including phones, tablets and accessories designed to provide extra protection for users that demand more durability in their work and everyday lives, reported financial results for the fourth quarter and full year ended december 31, 2022. fourth quarter 2022 and recent highlights net revenues increased 51% year-over-year to $24.1 million, from $15.9 million in the fourth quarter 2021, and 18% sequentially from $20.5 million in the third quarter 2022 net loss declined by 91% to $1.0 million, from a net loss of $11.7 million in the fourth quarter of 2021 and from a net loss of $1.6 million in the third quarter 2022 launched sonim's first ultra-rugged 5g smartphone, the best-in-class sonim xp10, now broadly available with tier-1 north american carriers in the u.s. and canada launched a first net ready xp10 5g ultra rugged smartphone for public safety customers launched the xp3plus flip phone featuring nextnav pinnacle vertical location capabilities, available to verizon and verizon frontline customers shipped an additional $15.6 million in new tablet orders, leveraging sonim's expanded odm capabilities as the company moves into large adjacent growth markets ended the quarter with cash and cash equivalents of $13.2 million, accounts receivable of $22.4 million and inventory of $3.9 million, demonstrating sonim's ability to self-fund its organic growth strategy to achieve cash positive operations peter liu, sonim's chief executive officer, said: "2022 was an exciting year of operational progress and growth at sonim.
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