Sonim Technologies Inc. is a publicly traded company whose stock is listed on the NASDAQ exchange under the symbol SONM. The company’s current market capitalization is 19.56 mln USD and its share price has been fluctuating between 0.4601 and 0.4974 USD in the last 24 hours, representing a decrease of 2.22%. Sonim Technologies Inc.’s average 50-day price stands at 0.49, while its 200-day average stands at 0.56 as of today.
Looking at the company’s financial performance over the last year, it can be seen that Sonim Technologies Inc.’s total revenue for fiscal 2019 was 20.5 mln USD, which decreased to 11.96 mln USD in 2020 and further declined to -10.47 mln in 2021 due to adverse market conditions during that period. As of March 2021, estimated revenue for fiscal 2022 was 14.5 mln USD which shows an upward trend from the previous year but still significantly lower than what it was two years ago in 2019 when total revenue amounted to 20.5 mln USD.
Overall, Sonim Technologies Inc.’s financial situation appears to be weak due to declining revenues over the past few years and a negative net income of 2.9 mln USD as of March 2020 which suggests that the company hasn’t been able to generate profits yet despite significantly reducing costs and increasing efficiency measures implemented by management in order to improve its financial performance going forward into 2022 and beyond
