SSM

Nine month (9M) 2025 net income of €6.6 million primarily driven by fair value adjustments; revenue begins to reflect initial commercialization; continued progress on OEM collaborations MUNICH, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Sono Group N.V. (Nasdaq: SSM) (hereafter referred to as “Sono” or the “Company”, parent company to Sono Motors GmbH, hereafter referred to as “Sono Solar” or “Subsidiary”), the solar technology company, today announced its financial results for the third quarter ended September 30, 2025 and the first nine months of 2025. Q3 & Year-to-Date 2025 Financial Highlights Balance sheet strengthened: Completed the conversion of all outstanding convertible debentures into preferred equity. As a result, shareholders’ equity improved from a deficit of €22.7 million at year-end 2024 to a positive €2.5 million at September 30, 2025, a major milestone that restores financial flexibility and reinforces the Company’s capital position ahead of growth. Revenue: Doubled quarter-over-quarter in Q3 2025, reflecting continued progress along the commercialization roadmap. Profitability: Demonstrated sustained financial discipline with Q3 net loss reduced to €1.4 million from €9.5 million a year earlier. Operating loss held broadly stable at €1.6 million, highlighting effective cost control and operating efficiency as the Company scales commercialization. 9M results: Net income of €6.6 million for the nine months ended September 30, 2025, reflecting non-cash fair value movements; the year-over-year change versus 2024 primarily relates to the non-recurring reconsolidation gain recorded in 2024. Cash: €2.3 million at September 30, 2025 compared to €1.4 million at December 31, 2024. Net cash used in operating activities improved to €5.2 million for 9M 2025 from €13.5 million for 9M 2024 reflecting a 62% improvement from prior period. Business Updates and Outlook Uplisting complete; investor reach expanded. Ordinary shares commenced trading on the Nasdaq Capital Market under “SSM” on September 5, 2025, enhancing visibility and access to global investors. Capital structure simplified; equity base strengthened. Following the conversion of all outstanding convertible debentures into preferred equity, Sono entered Q4 with a positive shareholders’ equity position as of September 30, 2025 with significant balance sheet flexibility compared to prior period. OEM traction...