Socket Mobile(SCKT) - 2025 Q2 - Quarterly Results

Financial Performance - Revenue for Q2 2025 was $4.04 million, a 20% decrease from $5.08 million in Q2 2024, but a 2% sequential increase from $4.0 million in Q1 2025[5] - Gross margin decreased to 49.9% in Q2 2025 from 50.9% in Q2 2024 and 50.4% in Q1 2025[5] - Operating loss for Q2 2025 was $677,000, compared to a loss of $535,000 in Q2 2024 and a loss of $894,000 in Q1 2025[5] - Operating expenses were reduced to $2.7 million in Q2 2025 from $3.1 million in the prior year period[5] Cash and Liabilities - Cash balance as of June 30, 2025, was approximately $2.6 million, up from $1.7 million at March 31, 2025, due to $1.5 million raised through financing[5] - Total liabilities increased to $10.29 million as of June 30, 2025, compared to $9.19 million at December 31, 2024[14] - Accumulated deficit increased to $51.96 million as of June 30, 2025, from $50.18 million at December 31, 2024[14] Market Conditions - The company experienced a notable decline in bookings in Q2 2025 due to reduced purchases from distributors amid tariff concerns[4] - The company expects market headwinds to persist through the remainder of the year[4] Product Development - New XtremeScan products have received positive initial feedback and are gaining broader interest among customers[4]