Lifeloc Q1 net loss widens to $284K; revenue flat at $2.15M

Lifeloc Technologies, Inc

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

Net revenue $2.153M flat YoY ($2.165M); net loss $(284)K ($0.12/diluted) vs $(54)K loss ($0.02/sh).
Gross margin declined to 38.8% from 43.2% due to inflation-driven cost increases.
R&D spending rose 40% primarily for SpinDx drug testing platform development.
Beta testing of SpinDx saliva THC detection expected later in 2024; commercial launch projected 2025.
Smartphone pairing for LX9 breathalyzer expected in Q2 2024.

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, 2024 results: revenue $2.153 million, net income $(284) thousand, EPS $(0.12) per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $2.153 million
Net income: $(284) thousand
EPS: $(0.12) per diluted share
Result: reported results

Exact text from the filing

Lifeloc posted quarterly net revenue of $2.153 million resulting in a quarterly net loss of $(284) thousand, or $(0.12) per diluted share.

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Source: SEC EDGAR

accession 0001079973-24-000738

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