DNA X, Inc. (SONM) Form 10-Q — May 20, 2026
DNA X, Inc. (formerly Sonim Technologies) reported a net income of $6.3 million for Q1 2026, driven entirely by a $15.6 million gain from the sale of its legacy phone and hotspot business to Pace Car Acquisition LLC. The company’s new core business, the DNA X crypto trading platform, generated zero revenue from continuing operations and posted an operating loss of $3.9 million for the quarter. The filing includes a going concern warning, stating there is substantial doubt about the company’s ability to continue operations.
Key figures
- Revenue
- 0
- Net Income
- 6340000
- Total Debt
- 1072000
- Debt Amount
- 3053000
- Total Assets
- 4838000
- Cash Position
- 1195000
- Deal Value Usd
- 15000000
- Interest Rate
- 10
- Maturity Date
- 2026-12-31
- Shares Outstanding
- 1488268
- Eps basic
- 5.01
- Eps discontinued
- 8.12
- Gain on asset sale
- 15563000
- Reverse split ratio
- 1:18
- Derivative liability
- 398000
- Income discontinued ops
- 10268000
- Stock based compensation
- 304000
Price after filing
Close on the filing date to close N calendar days later (from $4.48). Historical, not a forecast.
AI analysis
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