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Socket Mobile, Inc. reported first quarter 2026 results with revenue of $3.7 million, slightly below the prior-year period’s $3.97 million as customers delayed spending. Gross margin was 51.3%, up from 50.4%, reflecting a relatively stable profitability on each dollar of sales.
The company posted a net loss of $0.9 million, modestly improved from a $1.0 million loss a year earlier, with lower operating expenses helping offset softer revenue. Cash totaled $1.71 million as of March 31, 2026, and management highlighted a recent $0.5 million financing intended to support ongoing operations while it launches new products such as the S721 and iPhone 17e-focused solutions.
BASS CHARLIE reported acquisition or exercise transactions in this Form 4 filing.
Socket Mobile director Charlie Bass received a grant of 5,000 shares of common stock on April 29, 2026 as part of director compensation. The shares were issued in lieu of a portion of his annual cash retainer fee and valued at the market closing price of $0.8668 per share. Following this award, Bass directly holds 1,708,202 shares of common stock.
PARNELL WILLIAM L. JR reported acquisition or exercise transactions in this Form 4 filing.
SOCKET MOBILE, INC. director William L. Parnell Jr. received a grant of 5,000 shares of common stock on April 29, 2026. The shares were awarded under a Director Compensation Program that lets directors take stock instead of part of their cash retainer, valued at the market closing price of $0.8668 per share. Following this grant, he directly holds 96,600 common shares.
Lazarev Ivan reported acquisition or exercise transactions in this Form 4 filing.
SOCKET MOBILE, INC. director Ivan Lazarev received a grant of 4,000 shares of common stock on April 29, 2026. The shares were awarded at a value of $0.8668 per share under a Director Compensation Program that lets directors take stock instead of cash fees.
After this grant, Lazarev directly holds 105,560 common shares. The award represents a portion of his annual cash retainer fee, paid quarterly, and is compensation rather than an open‑market stock purchase.
Marx Felix reported acquisition or exercise transactions in this Form 4 filing.
SOCKET MOBILE, INC. director Felix Marx received a grant of 4,000 shares of common stock on April 29, 2026 as part of director compensation. The shares were issued in lieu of a portion of his annual cash retainer fee and valued at $0.8668 per share, based on the market closing price. Following this award, he holds 12,643 common shares directly. This reflects compensation-related share issuance rather than an open-market purchase.
Socket Mobile, Inc. is asking stockholders to vote at its virtual 2026 annual meeting on June 3, 2026. Investors will elect five directors to one‑year terms, hold a non‑binding advisory vote on executive pay, and ratify Sadler, Gibb & Associates, LLC as independent auditors for the year ending December 31, 2026.
As of the April 6, 2026 record date, 8,222,958 common shares and 733,194 unvested restricted shares were entitled to one vote each. Chairman Charlie Bass beneficially owned 5,040,549 shares (43.6%), while all directors and executive officers as a group held 6,924,988 shares (54.8%). The board is majority independent, with separate CEO and chair roles, and recommends voting “FOR” all three proposals.
Charlie Bass, Chair of the Board of Socket Mobile, Inc., filed an amended ownership report showing beneficial ownership of 5,030,216 shares of Common Stock, representing 43.6% of the 11,549,972 shares deemed outstanding as of March 27, 2026.
His position includes shares held by the Bass Trust, stock options exercisable within 60 days, and shares issuable upon conversion of several convertible subordinated secured promissory notes, including a new $400,000 2026 Note bearing 10% annual interest and convertible into up to 444,444 shares. During November 2025, the Bass Trust made multiple open-market purchases, and in early 2026 it received restricted stock and stock option grants, all reported as held for investment purposes.
Socket Mobile, Inc. reported 2025 revenue of $15.1 million, down about 20% from 2024 as weaker demand and distribution headwinds reduced sales. Gross margin slipped slightly to 49.7%, and operating expenses fell 10% but not enough to offset the drop in revenue.
The company posted an operating loss of $3.2 million and a net loss of $14.4 million, largely driven by recording a $10.7 million valuation allowance against deferred tax assets. Total assets declined to $14.4 million and stockholders’ equity fell to $4.3 million, while cash was $2.0 million with no bank debt and $5.5 million of subordinated convertible notes outstanding.
SOCKET MOBILE, INC. director and more than 10% owner Charlie Bass reported an open-market or private purchase of a Subordinated Convertible Note on March 27, 2026. The note is currently convertible into 444,444 shares of common stock at a conversion price of $0.90 per share.
Following this transaction, Bass’s reported beneficial holdings tied to this instrument and related securities total 3,267,826 shares. The note can be converted at any time on or prior to March 27, 2029, and on or after March 27, 2027, the holder may instead choose prepayment of principal and accrued interest in cash.
Socket Mobile, Inc. completed a secured subordinated convertible note financing of $500,000 to increase its working capital. The notes carry a 3-year term, mature on March 27, 2029, and pay 10% annual interest in cash, quarterly.
Investors holding the notes may demand repayment of principal plus interest any time after March 27, 2027, and can choose to convert principal into common stock at $0.90 per share. The notes are secured by company assets and subordinated to debt owed to Western Alliance Bank. Board chairman Charlie Bass participated, with the transaction approved by a special committee of disinterested directors. The securities were sold to accredited investors under private offering exemptions.