Sonim Technologies Inc: Falls after Q3 revenue halves, misses estimates

DNA X

11/11/2020 14:22

** Rugged phone maker's shares  SONM.O  fall 6% to $0.53
premarket
    ** Company's Q3 revenue more than halves to $14.4 mln vs
$28.9 mln a year earlier; Analysts had expected revenue of $18.2
mln - Refinitiv data
    ** SONM attributes revenue decline to prior minimum quantity
contract with single carrier in 2019, which was absent in 2020,
and changes in order timing with large customers  urn:newsml:reuters.com:*:nPn4rrbWXa
    ** YTD, stock down 84%

 (Reporting by Shreyasee Raj in Bengaluru)
 ((Shreyasee.Raj@thomsonreuters.com))