Lifeloc Q1 net loss narrows to $54K; revenue flat at $2.165M

Lifeloc Technologies, Inc

2023-Q1 EPS reported -$0.02 revenue$2,164,554

Net revenue $2.165M flat YoY; net loss $(54)K ($0.02/sh) vs $(145)K loss ($0.06/sh) in Q1 2022.
Gross margin improved to 43.2% from 39.0% YoY, driven by price increases and lower depreciation.
R&D spending increased for SpinDx THC saliva testing platform; commercialization expected in 2024.
Supply chain constraints held back sales but component lead times shortening; backlog expected to be fulfilled in Q2.
Company implemented additional price increases for 2023 to offset component inflation.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lifeloc Technologies, Inc reported first quarter ended March 31, 2023 results: revenue $2.165 million, net income $(54) thousand, EPS $(0.02) per diluted share.

Period: first quarter ended March 31, 2023
Revenue: $2.165 million
Net income: $(54) thousand
EPS: $(0.02) per diluted share
Result: reported results

Exact text from the filing

Lifeloc posted quarterly net revenue of $2.165 million resulting in a quarterly net loss of $(54) thousand, or $(0.02) per diluted share.

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Source: SEC EDGAR

accession 0001079973-23-000641

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