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Sonim Technologies Q1 Loss Widens, Sales Miss Expectations; Shares Fall 18% After Hours

05/11/2021 13:09

04:59 PM EDT, 05/11/2021 (MT Newswires) -- Shares of Sonim Technologies (SONM) were sharply lower in late trading Tuesday after the provider of mobile devices for service workers reported Q1 results that were below Wall Street's expectations.

The company's first-quarter loss widened to $0.14 per share from a loss of $0.10 per share a year earlier and trailed the consensus analyst estimate compiled by Capital IQ for a loss of $0.10 per share.

Revenue declined to $12.2 million from $12.7 million in the year-ago quarter, missing the consensus estimate of $13 million.

Price: 0.5094, Change: -0.11, Percent Change: -17.84