Socket Mobile Q2 revenue $5.08M, operating loss widens 84% YoY to $535K

SOCKET MOBILE, INC.

2024-Q2 EPS reported -$0.16 revenue$10,059,195

Revenue $5.08M, down 0.7% YoY but up 2.1% sequentially from $4.98M in Q1 2024.
Gross margin 50.9% vs 51.8% a year ago; operating loss $535K, up from $292K in Q2 2023.
Cash balance $2.1M at June 30, 2024, down from $2.8M at year-end 2023 and prior quarter.
CEO cites weak specialty retail sector; pushing new products like SocketCam C860 and rugged scanners.
No forward guidance provided; conference call scheduled for 2 PM Pacific today.

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