Welcome to our dedicated page for Socket Mobile news (Ticker: SCKT), a resource for investors and traders seeking the latest updates and insights on Socket Mobile stock.
Socket Mobile, Inc. (NASDAQ: SCKT) is a provider of data capture and delivery solutions whose news flow centers on product launches, software platform updates, financial results, and digital identity initiatives. The company manufactures cordless barcode scanners and contactless NFC/RFID readers and writers that integrate with mobile applications used in specialty retail, field service, digital ID, transportation, and manufacturing.
Recent news highlights include the introduction of the SocketScan S721 handheld Bluetooth barcode scanner for Square iOS applications and other mobile point-of-sale platforms, the DuraScan Terminal line built around the Apple iPhone 16e, and the XtremeScan v16e industrial barcode scanners optimized for demanding environments such as warehousing, logistics, and field operations. Socket Mobile has also announced the DuraScan D751 NFC/RFID reader and writer for mobile use in sectors like hospitality, commercial services, and transportation and logistics.
On the software side, the company has launched CaptureSDK 2.0, which it describes as foundational for its next generation of Bluetooth Low Energy-based data capture products and as a unified platform for its global developer community. Regulatory and market developments also appear in the news stream, such as the approval of SocketScan S370 and S550 readers as certified My Number Card readers in Japan’s national digital ID program.
Investors and followers of SCKT can also find regular announcements of quarterly financial results and conference calls, where management discusses revenue trends, product adoption, and business conditions. This news page aggregates these updates so readers can track Socket Mobile’s evolving hardware portfolio, software ecosystem, and participation in digital identity and mobile data capture markets.
Socket Mobile (NASDAQ: SCKT) has appointed Alexis Hartmann to its Board of Directors, effective August 12, 2024. This addition expands the board to six members, with four being independent. Hartmann brings over 20 years of SaaS expertise, particularly in procurement and supply chain industries. His experience includes key roles at Prewave, Coupa, and Amplitude, where he helped launch European markets and guide companies through IPOs.
CEO Kevin Mills highlighted Hartmann's potential contributions to Socket Mobile's software offerings, including SocketCam camera scanners and CaptureSDK. Hartmann's connections in Africa and Latin America are seen as opportunities for expanding SocketCam usage in these growing markets. His appointment is expected to strengthen Socket Mobile's strategic vision and capabilities in data capture solutions.
Socket Mobile (NASDAQ: SCKT) reported its Q2 2024 financial results, showing a slight revenue decrease of 0.7% year-over-year to $5.08 million. The company faced challenges in the specialty retail sector, its primary revenue source. Key highlights include:
- Gross margin of 50.9%, down from 51.8% in Q2 2023
- Operating expenses increased 6% year-over-year to $3.1 million
- Operating loss widened to $535,000, up 84% from Q2 2023
- Cash balance of $2.1 million as of June 30, 2024
To address challenges, Socket Mobile is investing in new products like the SocketCam C860 app and expanding into new markets beyond retail. The company aims to reduce dependence on the retail sector and drive growth through innovative solutions for various industries.
Socket Mobile (NASDAQ: SCKT) has launched the XtremeScan Mag XG640, a rugged scanning solution for the transportation and logistics sectors. This BYOD (Bring Your Own Device) scanner integrates with employees' phones using a magnetic attachment system, enhancing efficiency in mobile workforces. The XG640 is designed for the last-mile delivery market, which is expected to double by 2030, growing at 8.8% CAGR.
The XG640 offers a cost-effective solution for SMBs and independent drivers, allowing them to use personal mobile devices for both navigation and scanning. This approach can lead to significant cost savings for companies, especially smaller trucking firms. The scanner is available for pre-order at an MSRP of $899 and will start shipping in September.
Socket Mobile (NASDAQ: SCKT) has announced the release date for its second quarter 2024 financial results. The company, a leading provider of data capture and delivery solutions, will disclose its Q2 2024 results on Wednesday, July 31, 2024, after the market closes. Following the release, Socket Mobile will host a conference call at 5 p.m. Eastern Time (2 p.m. Pacific Time) to discuss the results with investors and analysts.
Interested parties can access the live conference call by dialing (800) 237-1091 (toll-free within the U.S.) or (848) 488-9280 (toll). This announcement provides investors with important information about when to expect Socket Mobile's latest financial performance update and how to participate in the subsequent discussion.
Socket Mobile, Inc. reported first quarter 2024 financial results showing a 15% increase in revenue to $5.0 million compared to the prior year. The gross margin was 50.3%, operating expenses remained unchanged at $3.0 million, and operating loss decreased to $0.5 million. Cash balances were approximately $2.8 million. The company is focusing on promoting new products, including camera-based scanning technology and XtremeScan and DuraScan Wear products.
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