Socket Mobile Stock Price, News & Analysis

Socket Mobile, Inc. (NASDAQ: SCKT) has announced the release date for its 2021 fourth quarter and annual financial results, scheduled for February 16, 2022, after market close. The company will host a conference call at 5 p.m. ET to discuss these results. Interested parties can access the call via dial-in or through a live audio webcast, with details provided on their website. Socket Mobile specializes in data capture solutions, primarily via mobile applications for various sectors including retail and transportation.

Socket Mobile, Inc. (NASDAQ: SCKT) reported a 54% increase in revenue to $6.3 million for Q3 2021, compared to $4.1 million in Q3 2020. Operating income reached $954,000, a significant improvement over a loss of $4.0 million in the previous year. Gross margin decreased slightly to 54%. Net income was $644,000 or $0.07 per diluted share. Cash generated from operations was $0.7 million, with a cash balance of $5.4 million. Despite ongoing component shortages impacting supply chain, the company is investing in growth and developing new NFC products.

Socket Mobile, a leader in data capture solutions, will release its 2021 third quarter financial results on October 21, 2021, after market close. A conference call for discussing these results is scheduled for 5 p.m. Eastern Time. Investors can listen in via a live webcast on Socket Mobile's website and can register for the call using the provided dial-in numbers.

Socket Mobile focuses on enhancing productivity through its barcode scanners and mobile application integrations, primarily serving specialty retail and manufacturing sectors.

Socket Mobile, Inc. (NASDAQ: SCKT) has announced its NFC reader/writer's selection by a blockchain application, enhancing anti-counterfeiting measures. This integration provides a secure link between physical goods and their digital records on the blockchain, crucial for various sectors, including cannabis and food safety. The D600 NFC reader/writer has significantly improved efficiency, reducing staff time by 82% for its partner Parsl. Socket's Capture SDK further supports application partners by maximizing data capture performance.

Socket Mobile (NASDAQ: SCKT) has announced an upgrade for the SocketScan S740, enhancing its barcode scanning capabilities with new features and performance improvements. The scanner can now read various barcode formats, including 1D, 2D, and OCR fonts, with an extended scanning range from 2 to 19 inches. The upgrade supports businesses needing age verification, particularly in retail sectors like cannabis and alcohol sales. The S740's ergonomic design, battery efficiency, and compatibility with multiple devices make it an attractive option for businesses requiring versatile data capture solutions.

Socket Mobile reported a solid financial performance for Q2 2021, with revenue rising 119% to $6.0 million, compared to $2.7 million in Q2 2020 and 24% up from Q1 2021's $4.8 million. Gross margin increased to 55%, up from 50% year-over-year. Operating income stood at $814,000, a significant turnaround from a loss of ($810,000) year-over-year. Net income was $2.6 million, including a tax benefit adjustment of $1.9 million. Management remains optimistic about growth opportunities, particularly in the retail sector.

Socket Mobile, Inc. (NASDAQ: SCKT) will release its 2021 second quarter financial results on July 22, 2021, after market close. A conference call to discuss these results will take place at 5 p.m. Eastern Time (2 p.m. Pacific Time). Interested parties can dial in at (888) 424-8151 (U.S.) or (847) 585-4422 (international) using passcode 7569 552. A live and replay audio webcast will be accessible via Socket Mobile's website.

Socket Mobile, Inc. (NASDAQ: SCKT) announced that its barcode scanners support the EU Digital COVID Certificate, promoting workplace productivity. The European Commission’s agreement aims to facilitate travel within EU borders by providing vaccination, testing, and recovery data through a QR code. The regulation will take effect on July 1, 2021. The company’s Capture SDK allows developers to implement versatile data capture solutions, ensuring adaptability as needs evolve. This positioning may support growth and enhance market presence as travel restrictions ease.