Socket Mobile(US:SCKT)2025-10-22 20:16Financial Performance - Revenue for Q3 2025 was $3.1 million, a 20% decrease from $3.9 million in Q3 2024 and a 23% sequential decrease from $4.0 million in Q2 2025[6] - Gross margin decreased to 47.7% compared to 49.0% in the prior year's quarter and 49.9% in the preceding quarter[6] - Operating expenses were reduced by 13% year-over-year to $2.5 million, down from $2.9 million in Q3 2024, and decreased by 6% from $2.7 million in Q2 2025[6] - The operating loss for Q3 2025 was $1,058,000, compared to a loss of $1,031,000 in Q3 2024 and a loss of $677,000 in Q2 2025[6] - Cash balance as of September 30, 2025, was approximately $2.0 million, down from $2.6 million at June 30, 2025[6] - Total assets decreased to $25.645 million as of September 30, 2025, from $27.346 million at December 31, 2024[16] - The accumulated deficit increased to $53.159 million as of September 30, 2025, compared to $50.175 million at December 31, 2024[16] Strategic Initiatives - The company is committed to investing in new and existing products for the industrial market to drive long-term revenue growth[5] - Management noted that steady sales-out from distributors and lower channel inventory levels indicate a potential need for inventory replenishment[4] - The company plans to share more details about new product initiatives and strategies to drive revenue growth in an upcoming conference call[5]