DNA X announces dilutive $8.1M related-party Series B preferred sale and consulting equity issuance
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DNA X, Inc., formerly known as Sonim Technologies, Inc. until its rebranding in January 2026, is a company established in 1999 and headquartered in San Diego, California. The firm specializes in delivering enterprise-grade 5G solutions across a broad international footprint, encompassing the United States, Canada, Europe, the Middle East, and the Asia-Pacific region. Their product portfolio includes a comprehensive range of ruggedized communication devices tailored for frontline and task workers. This lineup features models such as the Sonim XP10, Sonim XP5plus, Sonim XP3plus, Sonim XP Pro, as well as the XP100 4G and XP400 5G professional rugged phones, XP Pro 5G rugged smartphones, and XP3plus 5G rugged flip phones. Beyond handsets, DNA X, Inc. also provides connected solutions, offering both fixed wireless access and mobile hotspot devices. These include the Sonim H100 low- and mid-range mobile hotspots, the Sonim H700, and the advanced Sonim H500-series of 5G mobile hotspots. Complementing its hardware offerings, the company supplies proprietary SonimWare software and a selection of industrial-grade accessories. DNA X, Inc. distributes its products through a diverse network that includes wireless carriers, data device distributors, communications system integrators, and electronics resellers. The company's clientele spans various critical industries, including transportation and logistics, construction, manufacturing, facilities management, energy and utilities, mining, federal government agencies, and public safety organizations.
| Metric | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $58.30M | $93.63M | $69.83M | $54.57M | $63.99M | $116.25M | $135.66M | $59.03M |
| Cost of Revenue | $48.38M | $74.31M | $58.20M | $48.16M | $48.78M | $81.74M | $87.58M | $38.72M |
| Gross Profit | $9.92M | $19.32M | $11.62M | $6.41M | $15.21M | $34.51M | $48.09M | $20.31M |
| Gross Margin | 17.02% | 20.64% | 16.65% | 11.75% | 23.77% | 29.68% | 35.45% | 34.41% |
| Operating Expenses | $43.56M | $18.81M | $25.91M | $44.41M | $44.47M | $56.89M | $42.70M | $27.08M |
| Operating Income | $-33.64M | $513.00K | $-14.29M | $-38.00M | $-29.26M | $-22.38M | $5.39M | $-6.77M |
| Operating Margin | -57.70% | 0.55% | -20.46% | -69.64% | -45.72% | -19.25% | 3.98% | -11.47% |
| Net Income | $-33.65M | $-90.00K | $-14.09M | $-38.63M | $-29.93M | $-25.83M | $1.28M | $-8.52M |
| Net Margin | -57.72% | -0.10% | -20.17% | -70.78% | -46.77% | -22.22% | 0.94% | -14.43% |
| EPS (Basic) | $-7.13 | $-0.02 | $-4.88 | $-40.81 | $-64.78 | $-138.87 | $-257.45 | $-1495.71 |
| EBITDA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Stock Option Compensation Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price To Earnings Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price To Sales Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Capitalization | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |