Socket Mobile, Inc. New - SCKT STOCK NEWS

Socket Mobile (NASDAQ: SCKT) announced the addition of .NET MAUI support in its CaptureSDK, enhancing its data capture solutions for app developers. MAUI, a replacement for Xamarin by Microsoft, allows developers to create cross-platform applications using a single codebase for iOS, Android, Windows, and macOS. This update expands Socket Mobile's development capabilities and aligns with its commitment to support app partners. The CaptureSDK is already integrated with thousands of applications, streamlining data capture processes and improving productivity.

Socket Mobile, Inc. (NASDAQ: SCKT) announced full compatibility of its CaptureSDK and barcode scanners with iPadOS 16. This ensures Apple iPad users can leverage their data capture tools effectively. The company emphasizes its commitment to maintaining OS compatibility, enabling app developers to upgrade seamlessly with every iOS update. The CaptureSDK enhances data capture reliability and productivity, making Socket Mobile's devices a preferred choice for Apple users. The strong track record of support positions Socket Mobile favorably in the market as it adapts to evolving technology.

Socket Mobile, Inc. (NASDAQ: SCKT) reported a net loss of $874,000 for Q3 2022 compared to a net income of $644,000 in Q3 2021. Revenue dropped to $3.7 million from $6.3 million year-over-year, reflecting market uncertainty. Gross margin decreased to 44.4%, down from 54.2% in the prior year. The company experienced an increase in operating expenses to $2.6 million. Despite lower reported revenue, sales through distribution partners were $4.8 million, indicating underlying demand. CEO Kevin Mills noted ongoing investments in critical projects amidst challenging conditions.

Socket Mobile, Inc. (NASDAQ: SCKT) will announce its 2022 third quarter financial results at market close on October 27, 2022. A conference call will follow at 5 p.m. ET to discuss these results. Interested parties can access the call via dialing (866) 374-5140 (U.S.) or (404) 400-0571 (toll). Additionally, a transcript will be available on the company's website post-call. Socket Mobile focuses on data capture solutions and supports various industries including retail and transportation.

Socket Mobile, Inc. (NASDAQ: SCKT) announced the launch of three new barcode and QR code scanners: the SocketScan S820, DuraScan D820, and DuraSled DS820. These models expand their product line following the earlier S720 launch, targeting industries transitioning from 1D to 2D scanning. The S820 offers Bluetooth connectivity and is designed for mobile attachment, while the D820 is built for durability. The DS820 combines scanning capabilities with mobile device functionality. Socket Mobile aims to meet the growing demand for 2D barcodes ahead of the GS1 standards shift by 2027.

Socket Mobile, Inc. (NASDAQ: SCKT) announces full compatibility of its CaptureSDK and barcode scanners with iOS 16, enhancing performance for Apple users. With this update, Socket Mobile ensures seamless operation between its devices and Apple products. Additionally, Swift Package Manager support has been integrated into CaptureSDK, allowing easier management and distribution for developers using Xcode. This combination ensures that Socket Mobile remains at the forefront of technology, providing reliable data capture solutions across various industries.

Socket Mobile, Inc. (NASDAQ: SCKT) has announced the launch of its new SM Keyboard application, which supports free camera-based scanning with the SocketCam C820. This app simplifies data capture by allowing barcode scanners to work with both scanner-enabled and non-scanner-enabled applications without switching modes. The SocketCam C820 turns smartphone cameras into high-performance barcode scanners, offering flexibility and simplicity, especially for low-volume scanning without additional hardware costs. The app is available for free download on the Apple App Store.

Socket Mobile, Inc. (NASDAQ: SCKT) launched a trade-in program for SocketScan S700 users, allowing them to upgrade to the S720 Linear Barcode plus QR code Reader for $199. The S720 offers additional functionality, including support for 2D barcode scanning, necessary for evolving data capture needs. The upgrade program includes a $50 credit for the trade-in of S700 devices and will be available until September 30, 2022. As QR code usage increases, the S720 positions Socket Mobile to meet changing market demands, aligning with GS1's push for 2D barcodes in retail by 2027.

Socket Mobile reported its Q2 2022 financial results with a 2% revenue increase to $6.05 million year-over-year, but a 4% sequential decline from Q1 2022. The gross margin fell to 50.2%, impacted by higher component and shipping costs. Operating expenses rose 17% year-over-year to $2.8 million, leading to a decrease in operating income to $189,000. The company attributes challenges to supply chain issues affecting hardware availability but remains optimistic about future growth driven by innovative product launches like SocketScan S720 and S370.