SONM · Sonim Technologies, Inc.

DNA X, Inc. has effectively transformed from a mobile device manufacturer into a cryptocurrency trading platform operator. The financial results for the fiscal year ended December 31, 2025, reflect this transition, with zero revenue from continuing operations as the legacy phone and hotspot business is classified as discontinued operations. The Company reported a net loss from continuing operations of $8.0 million, a significant increase from the $2.9 million loss in the prior year, primarily driven by a $2.3 million increase in General and Administrative expenses to $5.4 million. These expenses were attributed to legal costs associated with the acquisition of the DNA X trading platform and the sale of the mobile device assets.

Strategically, the Company completed the sale of its mobile device assets to NEXA Mobility on January 23, 2026, for $15 million. This transaction allowed the Company to exit the hardware business, which faced geopolitical risks and rising supply chain costs, and focus on the newly acquired DNA X trading platform. The proceeds were used to repay debt and other obligations, with remaining cash intended to support the new trading business. The balance sheet as of December 31, 2025, shows a stockholders' deficit of $8.0 million and a cash position of $1.3 million from continuing operations, though this was bolstered by the subsequent asset sale proceeds.

Management expressed optimism regarding the 2026 outlook, citing expectations for revenue growth and improved margins as the platform exits the monitoring phase and begins public marketing. The executive suite also saw changes, with the CEO resigning and the Executive Chairman assuming the acting CEO role, alongside the appointment of a new director with cryptocurrency expertise.