Core Insights - Socket Mobile, Inc. is expanding its DuraScan product family to enhance data capture solutions specifically for the logistics and manufacturing sectors [1][2] Product Details - The new DuraScan D762 is a high-performance 1D/2D barcode scanner designed for warehousing, logistics, and manufacturing environments [2][3] - The D762 offers a read range of up to 14 feet, allowing workers to scan pallets, inventory, and packages from a distance, which is beneficial in fast-paced warehouse operations [3] - The scanner is compatible with mobile applications that support Socket Mobile devices, making it suitable for various platforms including iOS and Android [3][4] Strategic Commitment - The company aims to empower logistics and manufacturing partners with tools to enhance operational performance, with the D762 being the first in a series of specialized data capture solutions [4] - The D762 is designed to address the unique challenges faced by these industries, providing extended range and fast scanning capabilities [4] Compatibility and Integration - The D762 is fully compatible with existing applications using Socket Mobile's CaptureSDK, allowing for seamless integration without additional work [4] - Application developers can utilize CaptureSDK to enhance their apps' data capture performance, increasing overall productivity and customer satisfaction [4] Availability and Pricing - The DuraScan D762 is currently available on the Socket Mobile website and will be distributed through partners starting in March, with a manufacturer's suggested retail price (MSRP) of $699 [5]

Company Overview - Socket Mobile, Inc. is a leading provider of data capture and delivery solutions aimed at enhancing productivity in workforce mobilization [3] - The company's revenue is primarily driven by the deployment of third-party barcode-enabled mobile applications that integrate its cordless barcode scanners and contactless reader/writers [3] - Key markets for Socket Mobile include specialty retail, field service, digital ID, transportation, and manufacturing [3] Financial Results Announcement - Socket Mobile will release its fourth quarter and full year 2024 financial results on February 25, 2025, at the close of the market [1] - A conference call to discuss these results will take place at 5 p.m. Eastern Time (2 p.m. Pacific Time) on the same day [2] Investor Contact Information - The Chief Financial Officer, Lynn Zhao, can be contacted at 510-933-3016 for investor inquiries [4]

FREMONT, Calif., Nov. 12, 2024 /PRNewswire/ -- Socket Mobile, Inc. (NASDAQ: SCKT), a leader in data capture and delivery solutions designed to enhance workplace productivity, today announced that its popular CaptureSDK is now available on GitHub, offering developers expanded access and new collaboration opportunities. With CaptureSDK now publicly available on GitHub—a popular platform for hosting and sharing code— Socket Mobile's developer partners can easily access, integrate, and collaborate on the SDK, b ...

Revenue Performance - Total revenues for Q3 2024 were approximately $3.9 million, a 21% increase from $3.2 million in Q3 2023[85] - For the nine-month period, revenue increased by 10.3% to approximately $13.9 million from $12.6 million in the prior year[85] Profitability - Gross profit margin for Q3 2024 was 49%, up from 44.2% in the prior year, while the nine-month margin was 50.1%, up from 48.6%[86] Expenses - Research and development expenses for Q3 2024 were approximately $1.2 million, a decrease of 4% compared to the same period last year[87] - Sales and marketing expenses for Q3 2024 were approximately $1.1 million, an increase of 12% compared to $1.0 million in Q3 2023[89] - General and administrative expenses for Q3 2024 were approximately $644,000, an increase of 6% compared to $608,000 in Q3 2023[90] - Interest expense for Q3 2024 was approximately $84,000, compared to $76,000 in the same period last year, due to new convertible notes issued in August 2024[91] Cash Flow - Net cash used in operating activities for the first nine months of 2024 was approximately $434,000, an improvement from $523,000 in the same period of 2023, with a net loss of $2.3 million in 2024 compared to $2.8 million in 2023[95] - Changes in operating assets and liabilities resulted in net cash used in operating activities of approximately $120,000 in 2024, primarily due to operating lease payments, while in 2023, it provided approximately $365,000[96][97] - Net cash provided by financing activities was approximately $1.0 million in the first nine months of 2024, compared to $1.5 million in the same period of 2023[99] Investments - Total investments in manufacturing tooling, firmware development, website development, and leasehold improvements were approximately $564,000 in 2024, down from $1.5 million in 2023[98] Obligations and Credit Facilities - Total contractual obligations as of September 30, 2024, amounted to $8,190,000, with $5,429,000 due within one year[103] - The company has a revolving credit line facility of up to $2.5 million, with variable interest rates based on the lender's prime rate, which could increase interest expenses if rates rise[106] Foreign Exchange Impact - A 10% adverse change in foreign exchange rates would have increased the net loss by approximately $34,400 for the third quarter of 2024, while the actual net adjustment was a gain of approximately $3,400[107] Product Development - The company introduced the XtremeScan family in August 2023, targeting the industrial barcode scanning market[73] - The DuraScan Wear DW930 & DW940 are the first wearable additions to the DuraScan Product Family, enhancing scanning capabilities in industrial settings[77]

Financial Data and Key Metrics Changes - Q3 revenue was $3.9 million, a 21% increase compared to $3.2 million for Q3 2023 [5] - Operating loss in Q3 was $1 million, improved from an operating loss of $1.4 million in Q3 2023 [5] - EBITDA was negative $500,000 in Q3, compared to negative $870,000 in Q3 2023 and positive $870,000 in the previous quarter [13] - Gross margin was 49% in Q3, up from 44% in the prior year's quarter but down from 51% in the preceding quarter [13] - Net loss for Q3 was $1 million or $0.15 per share, compared to a net loss of $1.3 million or $0.16 per share in Q3 2023 [13] Business Line Data and Key Metrics Changes - Strong feedback received for industrial products, with large organizations evaluating them positively [6] - New product XG640 introduced for the transportation and logistics market, designed for BYOD [8] - XtremeScan products are gaining traction in the industrial barcode scanning market [7][9] Market Data and Key Metrics Changes - The company experienced weak bookings in July, followed by stronger bookings in August and September, leading to a $2.2 million backlog entering Q4 [5] - Wider deployments of new products are planned to start before the end of the year, contributing to revenue in 2025 [10] Company Strategy and Development Direction - The company is evolving into a more comprehensive data capture company, focusing on both hardware and software solutions [12] - Investments in innovation are aimed at transforming the company and diversifying its customer base [11] - The introduction of SocketCam aims to create a recurring revenue stream through software subscriptions [11] Management's Comments on Operating Environment and Future Outlook - Management expects to achieve profitability in 2025, driven by investments in industrial and camera spaces [15] - The company is optimistic about the potential of its new products and their market acceptance [6][10] Other Important Information - The company raised $1 million from insiders to ensure working capital for larger customers transitioning from field trials to deployment [7] - Cash balance at the end of Q3 was $2.9 million, an increase from $2.1 million at the end of the previous quarter [14] Q&A Session Summary Question: When does the company expect to at least start to breakeven or potentially make a profit? - Management expects to make a profit in 2025, citing significant investments in the industrial and camera sectors over the last two years [15]

Exhibit 99.1 Socket Mobile Reports Third Quarter 2024 Results FREMONT, Calif., – October 24, 2024 – Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions for enhanced workplace productivity, today reported financial results that are determined in accordance with generally accepted accounting principles in the United States ("GAAP") for the three and nine months ended September 30, 2024. Third Quarter 2024 Financial Highlights: • Revenue of $3.9 million, reflecting a 2 ...

FREMONT, Calif., Oct. 17, 2024 /PRNewswire/ -- Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions for enhanced productivity, today announced that it will release its third quarter 2024 financial results at the close of the market on Thursday, October 24, 2024. Management will also host a conference call to discuss these results that will begin at 5 p.m. Eastern Time (2 p.m. Pacific Time). What: Socket Mobile Third Quarter 2024 Results Conference Call When: Thursday ...

FREMONT, Calif., Sept. 30, 2024 /PRNewswire/ -- Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture solutions, is excited to announce the expansion of its XtremeScan family of industrial barcode scanners with the launch of three new XtremeScan Mag products: XS640, XS630, and XG630. These innovative BYOD (Bring Your Own Device) scanners are designed to meet the needs of modern mobile workforces, offering seamless integration with iPhone 16 and all other mobile devices while delivering high ...

FREMONT, Calif., Sept. 24, 2024 /PRNewswire/ -- Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions designed to enhance workplace productivity, is excited to announce that CaptureSDK and its entire line of barcode scanners and NFC reader/writers have been thoroughly tested and have achieved full compatibility with iOS 18. iOS 18 compatibility across the entire Socket Mobile product line ensures that Apple users can maximize the utility of both their Socket Mobile da ...

FREMONT, Calif., Aug. 22, 2024 /PRNewswire/ -- Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture and delivery solutions for enhanced productivity, today announced completion of a net secured subordinated convertible note financing of $1,000,000. The proceeds will be used to increase the Company's working capital balances. The notes have a three-year term and will mature on August 21, 2027. The interest rate on the notes is 10%, payable quarterly in cash. The holder of each note may requ ...