Socket Mobile ( (SCKT) ) has released its Q1 earnings. Here is a breakdown of the information Socket Mobile presented to its investors.
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Socket Mobile, Inc., headquartered in Fremont, California, is a leading provider of data capture and delivery solutions aimed at enhancing workplace productivity, primarily serving sectors such as specialty retail, field service, and manufacturing through its barcode-enabled mobile applications.
In its first quarter of 2025, Socket Mobile reported a revenue of $4.0 million, marking a 20% decrease from the same period last year. The company faced a challenging quarter with a notable decline in demand both domestically and internationally, contributing to an operating loss of $0.9 million.
Key financial metrics for the quarter include a gross margin of 50.4%, slightly up from the previous year, and operating expenses totaling $2.9 million. The company also saw a reduction in cash balances to $1.7 million by the end of the quarter. Despite these challenges, Socket Mobile launched its new XtremeScan products, marking its entry into the industrial barcode market, and announced the XtremeScan iXG and iXS Series, which integrate iOS technology to enhance data capture capabilities.
Looking ahead, Socket Mobile is focused on navigating the evolving tariff landscape and its potential impact on the supply chain. The company is committed to strategic sourcing and pricing adjustments to manage these challenges, while also aiming to drive sales growth through its new product offerings.