FREMONT, Calif., July 31, 2025 /PRNewswire/ -- 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 six months ended June 30, 2025. Conference Call Management of Socket Mobile will hold a conference call today at 2 P.M. Pacific (5 P.M. Eastern) to discuss the quarterly res ...

Core Viewpoint - Socket Mobile, Inc. is set to release its second quarter 2025 financial results on July 31, 2025, and will host a conference call to discuss these results [1] Group 1: Financial Results Announcement - The financial results for the second quarter of 2025 will be announced at the close of the market on July 31, 2025 [1] - A conference call to discuss the financial results will take place at 5 p.m. Eastern Time (2 p.m. Pacific Time) on the same day [1] Group 2: Accessing the Conference Call - Investors can access the live conference call through a provided link or by dialing a toll-free number within the U.S. [2] Group 3: Company Overview - Socket Mobile is a leading provider of data capture and delivery solutions, focusing on enhancing productivity in workforce mobilization [3] - The company's revenue is primarily generated from 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]

Financing Details - Socket Mobile, Inc. completed a secured subordinated convertible note financing of $1,500,000 to increase working capital [1] - The notes have a three-year term, maturing on May 30, 2028, with a 10% interest rate payable quarterly in cash [2] - The principal amount of each note is convertible into shares of the Company's common stock at a conversion price of $1.07 per share [2] Participants - Key participants in the financing include the Chairman, CEO, CFO, and other board members of the Company [3] Company Overview - Socket Mobile is a provider of data capture and delivery solutions, primarily serving markets such as specialty retail, field service, digital ID, transportation, and manufacturing [5] - The Company's revenue is driven by third-party barcode-enabled mobile applications that integrate its cordless barcode scanners and contactless readers/writers [5]

Core Viewpoint - Socket Mobile, Inc. reported a decline in revenue for Q1 2025, attributed to weaker demand both domestically and internationally compared to the same period last year. However, the company has begun shipping new XtremeScan products, marking a significant step into the industrial barcode market valued at $27 billion [3][4]. Financial Performance - Revenue for Q1 2025 was $3.966 million, a 20% decrease from $4.978 million in Q1 2024 and an 18% sequential decrease from $4.8 million in the previous quarter [7]. - Gross margin was 50.4%, slightly up from 50.3% in the prior year's quarter but down from 51% in the preceding quarter [7]. - Operating expenses totaled $2.892 million, down from $2.990 million in the prior year [7]. - The operating loss was $0.894 million, compared to a loss of $0.485 million in the prior year's quarter [7]. - Cash balances decreased to approximately $1.707 million from $2.492 million as of December 31, 2024 [7]. Product Development - The company launched the XtremeScan iXG and iXS Series, which are integrated with iOS 18.3 and designed to function as handheld computers with advanced barcode scanning capabilities [3]. - These new products aim to enhance data capture and operational efficiency for frontline workers [3]. Market Strategy - The company is actively monitoring the tariff landscape and its potential impact on supply chain and cost structure, indicating a commitment to strategic sourcing and pricing adjustments [4]. - Future strategies and product developments will be discussed in an upcoming conference call [4].

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] Upcoming Financial Results - Socket Mobile will release its first quarter 2025 financial results on April 24, 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 [1] Accessing the Conference Call - Investors can access the live conference call via a provided link or by dialing a toll-free number within the U.S. [2]