Socket Mobile Reports First Quarter 2025 Results

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FREMONT, Calif., – 24 April 2025 – 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 months ended 31 March 2025.

First Quarter 2025 Financial Highlights:

• Revenue of USD 4.0 million, reflecting a 20% decrease compared to USD 5.0 million for the prior year’s quarter, and an 18% sequential decrease compared to USD 4.8 million for the preceding quarter.
• Gross margin of 50.4%, compared to 50.3% in the same quarter last year and 51% in the preceding quarter.
• Operating expenses were USD 2.9 million, compared to USD 3.0 million in the prior year period and USD 2.9 million in the preceding quarter.
• Operating loss of USD 0.9 million, compared to a loss of USD 0.5 million in the same quarter last year and a loss of USD 0.4 million in the preceding quarter.
• Cash balance as of 31 March 2025 was approximately USD 1.7 million, down from USD 2.5 million as of 31 December 2024.

“Our first quarter revenue came in lower than expected, primarily due to softer demand both domestically and internationally compared to Q1 of last year,” said Kevin Mills, President and Chief Executive Officer. “The good news is that we began shipping our new XtremeScan products during the quarter. This marks an important milestone in our two-year effort to enter the industrial barcode market.”

“We also recently announced the launch of the XtremeScan iXG and iXS Series, powered by iOS 18.3 and featuring a fully integrated iPhone 16e,” Mr Mills continued. “These devices are designed to function as full-featured handheld computers, combining high-performance long-range barcode scanning with the connectivity, app ecosystem, and user-friendly interface of the iOS platform. These capabilities allow frontline workers to capture data more accurately, respond more decisively, and complete critical tasks with greater speed and confidence. These products position Socket Mobile within the USD 27 billion mobile handheld computing market.”

“We are closely monitoring the evolving tariff landscape and assessing its potential impact on our supply chain and cost structure,” Mr Mills added. “We are committed to working closely with our customers to manage these challenges through strategic sourcing, pricing adjustments, and supply planning.”

“We look forward to sharing more details about our new products and strategies to boost sales growth during our upcoming conference call,” concluded Mr Mills.

Conference Call

Socket Mobile’s management will host a conference call today at 2 P.M. Pacific Time (5 P.M. Eastern Time) to discuss the quarterly results and future outlook. To join the live call, please use the conference link or dial (800) 237-1091 toll-free within the U.S., or (848) 488-9280 (standard rates apply).

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements regarding new mobile computer and data collection products, including details on the timing, distribution, and market acceptance of the products, and statements forecasting trends, sales, market conditions, and opportunities in the markets in which we sell our products. These statements involve risks and uncertainties, and actual results may differ significantly from those anticipated due to a number of factors, including but not limited to: potential delays or failures in launching our new products due to technical, market, or financial reasons including the availability of working capital; risks that market acceptance and sales opportunities do not develop as expected; that our application partners and distribution channels may choose not to carry the new products or may be unsuccessful in doing so; or that vertical market adoption of the products may not materialise as expected. Further details are available in our most recent Form 10-K and 10-Q filings with the U.S. Securities and Exchange Commission.

Socket Mobile Investor Contact:

Lynn Zhao
Chief Financial Officer
510-933-3016
lynn@socketmobile.com

Socket Mobile is a registered trademark of Socket Mobile. All other trademarks and trade names mentioned herein may be the property of their respective owners.

© 2025, Socket Mobile, Inc. All rights reserved.

– Financial tables follow –