Socket Mobile Stock Price, News & Analysis

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.

Socket Mobile, Inc. (NASDAQ: SCKT) announced the appointment of Dave Holmes as Chief Business Officer on May 18, 2021. With over 20 years of experience in the NFC and mobile payments industry, Holmes will lead worldwide business development and marketing efforts. His prior roles include significant positions at NXP and UL's Cybersecurity division. The company emphasizes its focus on the growing acceptance of contactless technology, which is crucial for mobile wallets like Apple Pay and Google Pay. This strategic addition aims to enhance Socket Mobile's position in emerging markets.

Socket Mobile, Inc. (NASDAQ: SCKT) reported Q1 2021 financial results, demonstrating a revenue increase of 14% year-over-year to $4.8 million, up from $4.2 million in Q1 2020. The company achieved a net income of $203,000 or $0.03 per share, contrasting with a net loss of $90,000 in the prior year. Operating expenses remained steady at $2.3 million. Cash reserves increased to $5.0 million, a $2.8 million rise from the previous quarter. CEO Kevin Mills noted strong demand despite supply chain challenges, highlighting the company’s recent technology transfer agreement with SpringCard SAS.

Socket Mobile, Inc. (NASDAQ: SCKT) will release its 2021 first-quarter financial results on April 22, 2021, after market close. A conference call with management will follow at 5 p.m. ET to discuss the results. Investors can access the call by dialing (888) 424-8151 in the U.S. or (847) 585-4422 for international listeners, using passcode 7255 653. A transcript will be available on the company's website shortly after the call.