Lifeloc reports 2023 revenue $9.33M, net profit $206K vs loss prior year

Lifeloc Technologies, Inc

2024-Q1 EPS reported -$0.12 revenue$2,153,443

Net revenue $9.330M (+10% YoY); net profit $206K ($0.08 diluted EPS) vs net loss $456K ($0.19 loss) in 2022.
Gross margin improved to 43.3% from 36.3% due to price increases, lower depreciation, easing supply constraints.
R&D investment increased 32% YoY focused on SpinDx 'Lab on a Disk' drug detection platform.
Beta testing of SpinDx delta-9-THC saliva test expected later 2024; commercialization projected 2025.
CEO says supply constraints no longer significant; L-series devices gaining approvals and market penetration.

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 fiscal year ended December 31, 2023 results: revenue $9.330 million, net income $206 thousand, EPS $0.08 per diluted share.

Period: fiscal year ended December 31, 2023
Revenue: $9.330 million
Net income: $206 thousand
EPS: $0.08 per diluted share
Result: reported results

Exact text from the filing

Lifeloc Technologies posted annual net revenue of $9.330 million resulting in a net profit of $206 thousand in 2023, or $0.08 per diluted share.

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Source: SEC EDGAR

accession 0001079973-24-000486

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