Socket Mobile Reports First Quarter 2025 Results

Press Releases by Socket Mobile
Press Release

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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 weaker demand both domestically and internationally compared to Q1 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 initiative 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 fully featured handheld computers, combining high-performance long-range barcode scanning with the connectivity, app ecosystem, and user-friendly interface of the iOS platform. Together, these features allow frontline workers to capture data more accurately, respond more decisively, and carry out critical tasks with greater speed and confidence. These products position Socket Mobile in the USD 27 billion mobile handheld computing market.”

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

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

Conference Call

Socket Mobile’s management will hold a conference call today at 2 P.M. Pacific Time (5 P.M. Eastern Time) to discuss the quarterly results and outlook for the future. To join the live conference, please use the conference link or dial (800) 237-1091 toll-free from 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 timing, distribution, and market acceptance of the products, and statements forecasting trends, sales, market conditions, and opportunities in the markets where we operate. These statements involve risks and uncertainties, and actual outcomes may differ significantly from those expected, due to various factors such as potential delays or failures in launching new products, limited market acceptance, financial limitations, or decisions by distribution partners. These and other risks are discussed 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 contained herein may be the property of their respective owners.

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

– Financial tables to follow –

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About Socket Mobile, Inc.

Socket Mobile is a leading provider of data capture and delivery solutions for enhanced productivity in workforce mobilization. Socket Mobile’s revenue is primarily driven by the deployment of third-party barcode-enabled mobile applications that integrate Socket Mobile’s cordless barcode scanners and contactless readers/writers. Mobile Applications servicing the specialty retailer, field service, digital ID, transportation, and manufacturing markets are the primary revenue drivers. Socket Mobile has a network of thousands of developers who use its software developer tools to add sophisticated data capture to their mobile applications. Socket Mobile is headquartered in Fremont, Calif. and can be reached at +1-510-933-3000 or www.socketmobile.com. Follow Socket Mobile on LinkedIn, X, and keep up with our latest News and Updates.