SOBR Safe Inc. has reported its financial and operating results for the first quarter ended March 31, 2025. The company experienced a significant 80.5% increase in total revenue, reaching $86.6 thousand compared to $48.0 thousand in the same period of 2024. The net loss improved to $1.9 million from $2.5 million in the first quarter of 2024. The company's gross margin rose to 58.8%, up from 48.4% in the previous year. Operating expenses increased to $2.0 million from $1.7 million due to higher general and administrative costs related to a growing employee headcount, partly offset by reduced third-party professional service fees. SOBR Safe Inc. deployed 148 SOBRsureTM devices in the first quarter, marking a 41.0% increase compared to December 31, 2024. The company also enhanced its patent-pending software technology with updates to its mobile application, which included improved administrative tools, upgraded notification protocols, and a redesigned user interface. Additionally, the company added Dr. Benjamin Sanchez as a Scientific Advisor to explore non-dilutive federal funding, licensing opportunities, and clinical research partnerships. Cash and cash equivalents stood at $10.1 million at the end of the first quarter, up from $8.4 million at the end of 2024, bolstered by approximately $3.3 million in net proceeds from the exercise of outstanding warrants.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.