earnings
confidence high
sentiment negative
materiality 0.80
Socket Mobile Q3 revenue down 41% YoY to $3.7M, net loss $874K
SOCKET MOBILE, INC.
2022-Q3 EPS reported
-$0.05
revenue$16,066,855
- Revenue $3.7M vs $6.3M YoY; gross margin 44.4% vs 54.2%.
- GAAP net loss $874K vs net income $644K in prior-year quarter.
- Distributor sell-through $4.8M, 30% above reported revenue, indicating inventory destocking.
- Operating expenses $2.6M vs $2.5M YoY.
- Management expects current weak environment to continue through remainder of year.