SOBR Safe Reports 80.4% Revenue Growth and Improved Financial Position in Latest Quarter

SOBR Safe, Inc. reported significant financial developments in its latest quarterly filing, revealing a revenue increase of 80.4% year-over-year for the three months ending March 31, 2025. The company generated $86,617 in revenue compared to $47,990 in the same period last year. This growth was accompanied by a gross profit of $50,964, reflecting a gross margin of 58.8%, up from 48.4% in the prior year. The increase in revenue and gross margin is attributed to higher sales of the SOBRsure device and an uptick in software subscriptions, which yield higher margins than previous offerings.

Despite the revenue growth, SOBR Safe reported a net loss of $1,879,055 for the quarter, a decrease from a net loss of $2,505,921 in the same period last year. The reduction in net loss was primarily driven by lower stock-based compensation expenses and decreased research and development costs, which fell to $40,924 from $102,034. However, general and administrative expenses rose to $1,823,469, up from $1,415,562, largely due to increased payroll expenses associated with a growing employee headcount.

In terms of operational metrics, the company deployed 148 unique devices, marking a 40.9% increase from the previous quarter. SOBR Safe's strategic initiatives included a comprehensive marketing plan and the introduction of enhancements to its software technology, which are expected to bolster sales efforts. The company also expanded its market reach, now serving customers across 43 U.S. states, Canada, Australia, and New Zealand, and launched an alcohol detection program for airport personnel outside the U.S.

SOBR Safe's financial position improved, with cash balances rising to $10,074,029 as of March 31, 2025, up from $8,384,042 at the end of the previous year. The increase was largely due to approximately $3.5 million in net proceeds from the exercise of outstanding warrants. The company also completed a 1-for-10 reverse stock split on April 4, 2025, reducing the number of outstanding shares from approximately 15.2 million to 1.5 million. Looking ahead, management believes that the current cash reserves and positive working capital will support operations for the next twelve months, contingent on the successful execution of its marketing and sales strategies.