Socket Mobile reports Q1 revenue $5.0M (+15% YoY); operating loss narrows to $0.5M

SOCKET MOBILE, INC.

2024-Q1 EPS reported -$0.07 revenue$4,977,797

Revenue $5.0M, up 15% YoY from $4.3M and 13% sequentially from $4.4M.
Gross margin 50.3% vs 48.1% in prior year quarter and 52.8% in preceding quarter.
Operating loss $0.5M, improved from $1.0M loss in prior year; expenses flat at $3.0M.
Cash $2.8M, unchanged from Dec 31, 2023.
New product momentum: SocketCam C860 recurring revenue model, DuraSled for iPhone 15.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SOCKET MOBILE, INC. reported the three months ended March 31, 2024 results: revenue $5.0 million.

Period: the three months ended March 31, 2024
Revenue: $5.0 million
Result: reported results

Exact text from the filing

Revenue of $5.0 million, reflecting a 15% increase compared to $4.3 million for the prior year’s quarter

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Source: SEC EDGAR

accession 0000944075-24-000020

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