Sonim Technologies, Inc.
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- substantial doubt about our ability to continue as a going concern
- ongoing net losses
- heavily concentrated revenue among top four customers (83% in 2022)
- dependence on non-binding product award letters from customers
- dependence on third-party contract manufacturers and partners
- material weakness in internal control over financial reporting
- non-compliance with Nasdaq listing standards
- risks associated with strategic transactions
- increasing scrutiny and evolving expectations from investors regarding ESG-related practices and disclosures
- highly susceptible to the global supply chain and any disruptions
Mitigation Strategies
- reorganizing into a leaner, lower-cost organization
- investing in sales channel partnerships and brand marketing
- developing a plan to remediate the material weakness in internal control
- actively pursuing expanding our business and increasing our revenue opportunities while effectively managing business operations and exploring further cost saving opportunities
- actively pursuing expanding our business and increasing our revenue opportunities while effectively managing business operations and exploring further cost saving opportunities
- actively managing inventory and establishing relationships with third-party manufacturers to minimize supply chain disruptions