Data I/o ( (DAIO) ) has released its Q4 earnings. Here is a breakdown of the information Data I/o presented to its investors.
Data I/O Corporation is a leading provider of advanced security and data deployment solutions for microcontrollers, security ICs, and memory devices, serving various sectors including automotive, IoT, and consumer electronics. In its latest earnings report for the fourth quarter of 2024, Data I/O Corporation highlighted a strategic shift towards optimizing its core programming platform and enhancing its sales process under the leadership of its new CEO, William Wentworth.
The company reported a decrease in net sales to $5.2 million for the fourth quarter, a 25% drop from the previous year, and a full-year decline of 22% to $21.8 million. This downturn was attributed to ongoing uncertainties in the automotive electronics sector and slowed customer capacity expansion in the Americas and Europe, although there was growth in Asia. Despite these challenges, Data I/O maintained steady revenue from consumable adapters and services, which accounted for 50% of total revenue.
Operating expenses for the quarter increased slightly due to one-time charges related to organizational changes, but overall expenses for the year decreased by 7% due to cost containment efforts. The company ended the year with a net loss of $3.1 million, compared to a net income of $486,000 in 2023. Despite the financial setbacks, Data I/O’s balance sheet remains solid with $10.3 million in cash and no debt.
Looking ahead, Data I/O Corporation is focused on transforming its operations with a strategic emphasis on platform optimization and a consultative sales approach. The management is optimistic about the company’s potential to enhance profitability and expand market share, supported by recent technological advancements and cost-reduction initiatives.