Company Overview

Socket Mobile is a leading innovator of data capture and delivery solutions for enhanced productivity in workforce mobilization. Our products are incorporated into mobile applications used in point of sale (POS), commercial services (field workers), asset tracking, manufacturing process and quality control, transportation and logistics (goods tracking and movement), event management (ticketing, entry, access control, and identification), medical and education. Our primary products are cordless data capture devices incorporating barcode scanning or RFID/Near Field Communications (NFC) technologies that connect over Bluetooth. All products work with applications running on smartphones, mobile computers and tablets using operating systems from Apple® (iOS), Google(TM) (Android(TM)) and Microsoft® (Windows®). We offer an easy-to-use software developer kit (Capture SDK) to application developers, which enables them to provide their users with our advanced barcode scanning features. Socket Mobile is headquartered in Newark, Calif. and can be reached at +1-510-933-3000 or www.socketmobile.com. Follow Socket Mobile on Facebook, and Twitter @socketmobile.


Socket Mobile Family of Data Capture Products

Socket Mobile barcode scanners connect over Bluetooth in two form factors: handheld and attachable.  The handheld models come in standard colorful (SocketScan Models: S700 – linear imager; S730 – laser; S740/760 – universal barcode) and durable (DuraScan IP54-rated withstanding tougher environments: D700 linear imager, D730 laser, and D740/750/760 universal barcode). The attachable models (DuraSled Models: DS800 linear imager and DS840/860 universal barcode) attach to smartphones and tables, creating a one-handed solution. The Company also offers a handheld contactless reader/writer (D600) for data capture using Near Field Communications (NFC) and is providing developers with the Contactless Membership Card Reader/Writer (S550). VDC Research has identified the Company as a leading worldwide supplier of companion scanners.

overview_D600  socketscan700productPage  overview_700series  800seriesproductPage

Developer Program – Socket Mobile’s SDK enables Apple, Android and Windows application developers to create custom or commercial mobile data collection solutions. Its Capture SDK adds state of the art development tools such as Xamarin, Cordova and Java.  A single installation of the Socket Mobile SDK provides universal support for Socket Mobile data capture products, giving customers the opportunity to select the data capture products that work best for them and retaining the ability to upgrade at any time.  Socket Mobile supports a compelling portfolio of enterprise solutions, with more than 900 business applications published in the Apple App Store or the Google Play Store.  

Socket Mobile Company Data (NASDAQ: SCKT)

Company Information

Headquarters 
Founded 
Number of Employees    
Newark, CA
March 1992
52

Address:

Socket Mobile, Inc.
39700 Eureka Drive
Newark, California 94560
U.S.A.

Registered in the State of Delaware

Financial Information
(as of Sep. 30, 2020)

 

Last 12 Months Revenue 
Last 12 Months Income before tax  
Last 12 Months Gross Profit %   
Cash
Total Assets
Current Ratio
Total Equity*

$15.6M
$4.67M
53.1%
$1.77M
$15.21M
2.02
$8.83M


 

Key Metrics

Description

Quarterly

Annual

Period

Q3 2020

Q3 2019

2019

2018

2017

Profitable

No

Yes

Yes

No

Yes

Positive Cash Flow

Yes

No

No

Yes

Yes

Positive EBITDA

Yes

Yes

Yes

Yes

Yes

Cash, end of period ($’000’s)

$1,775

$881

$959

$1085

$3,380

Stockholders’ Equity end of period ($’000’s)***

$8,832

$13,023

$13,234

$12,405

$17,231

Cordless Barcode Scanning – units sold

18,485

19,640

79,041

69,850

93,394


Summary Statements of Operations (Derived from Audited and Unaudited Financial Statements)
(Amounts in thousands except per share)

 
 

Description

2020 (9 mos)

2019

2018

2017

Revenue

$11,044

$19,253 

$16,454

$21,286 

Gross Margin

5,859

10,101

8,456

11,390

Gross Margin Percent

53.0%

52.5%

51.4%

53.5%

Operating Expenses*

10,737

9,494

9,042

8,973

Operating Income (loss)*

(4,879)

607

(586)

2,417

Interest and other expense

(52)

(101)

(129)

(80)

Other income

70

--

--

--

Current income taxes payable

--

--

--

(51)

Net Income (loss) before deferred taxes*

(4,860)

506

(715)

2,286

Deferred income taxes*

(1)

(219)

144

(1,071)

Net income (loss)*

($4,861)

$287

($571)

$1,215

EBITDA

$448

$1,590

$334

$3,159

Net income (loss) per share primary*

$0.76

$0.05

($0.09)

$0.19

Net income (loss) per share fully diluted*

$0.76

$0.05

($0.09)

$0.17

Weighted Average Shares o/s Primary

Weighted Average Shares o/s Fully Diluted

6,020

6,020

5,985

6,208

6,098

6,098

6,293

7,136



*As a result of the lower stock price from the beginning of 2020 through the annual goodwill measurement date of September 30th, the Company concluded that an adjustment to its fair value was required. The non-cash impairment charge totaled $4.4 million and was recorded in the Company’s Q3 2020 results. The impairment charge does not affect the Company’s cash position, cash flow from operating activities, bank debt covenants, and does not have any impact on future operations.