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 pioneering company founded in 1992, specializing in data capture and delivery solutions aimed at boosting productivity across various mobile markets. Headquartered in Newark, California, Socket Mobile is renowned for its innovative cordless barcode scanners and contactless readers/writers, which are seamlessly integrated into third-party mobile applications. These applications are predominantly used in sectors such as retail point of sale (mPOS), field services, healthcare, asset tracking, manufacturing, transportation, event management, and education.
One of Socket Mobile's core strengths is its extensive network of application developers who utilize the company’s software development kit (SDK) to incorporate advanced barcode scanning capabilities into their mobile apps. The company boasts a robust presence in the Americas, Europe, Asia Pacific, and Africa, with the United States being its primary revenue generator.
Recently, Socket Mobile made headlines with the launch of their Apple VAS Certified SocketScan S550 NFC Mobile Wallet Reader. This innovative product interacts with Apple Wallet's digital passes, enhancing user experiences for loyalty programs, event tickets, and more. The S550's certification ensures consistent performance across all iOS platforms, making it a versatile choice for businesses looking to leverage Apple’s VAS infrastructure.
In addition to the S550, Socket Mobile has introduced other notable products such as the SocketCam C860, XtremeScan, DuraScan Wear, and the DuraSled™ Bluetooth Barcode Scanners for iPhone 15. These products are designed to meet a wide range of data capture needs, from basic scanning in good conditions to rugged industrial environments. The company also supports Flutter and React Native developers by integrating advanced camera scanning solutions into their CaptureSDK, simplifying the development process and enhancing app performance.
Financially, Socket Mobile reported $17 million in revenue for 2023, with a slight decline compared to the previous year due to various market dynamics. Despite these challenges, the company saw a significant 37% increase in Q4 revenue compared to Q3, along with improved gross margins. Looking ahead, Socket Mobile remains committed to driving growth through continuous innovation and by supporting its developers and partners with high-quality data capture solutions.
For more information, visit socketmobile.com or follow them on social media platforms: Twitter, YouTube, Facebook, and Blog.
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.
Socket Mobile (NASDAQ: SCKT) announces the release of its v1.50 firmware for the D600 NFC reader, enhancing data capture solutions. This device enables reading of NFC messages and cards from mobile phones, including QR codes. The D600 supports all NFC tag types, facilitating a seamless transition from QR codes to NFC tap-and-go solutions, improving user identification processes.
The D600 is compatible with NFC Forum specifications and works with mobile apps developed with Capture SDK, allowing extensive integration for developers.
Socket Mobile, Inc. (NASDAQ: SCKT) has announced a licensing agreement with SpringCard SAS to utilize its contactless technology in its products. This partnership aims to enhance contactless data capture solutions, with products like the DuraScan D600 and SocketScan S550 incorporating SpringCard's technology. The SocketScan S550 is certified for Apple VAS and Google Wallet, supporting secure mobile data exchanges. The collaboration is expected to leverage the growing demand for contactless solutions post-pandemic, driving new business opportunities in various sectors.
Socket Mobile, Inc. (SCKT) reported fourth-quarter 2020 revenue of $4.7 million, up from $4.6 million in Q4 2019, with a gross margin of 53.2%. Operating expenses decreased 12.4% to $1.9 million. The company achieved a net income of $1.6 million ($0.26 per basic share) due to a $1.1 million loan forgiveness under the Paycheck Protection Program. However, the full-year revenue fell to $15.7 million from $19.3 million in 2019, marking a net loss of $3.3 million, influenced by a $4.4 million goodwill impairment.
Socket Mobile, Inc. (NASDAQ: SCKT) will announce its 2020 fourth quarter and annual financial results on February 24, 2021, after market close. A conference call to discuss these results is scheduled for 5 p.m. ET (2 p.m. PT) on the same day. Interested parties can access the conference via dial-in or through a webcast on the company’s website. Socket Mobile focuses on data capture solutions primarily for mobile applications, targeting sectors such as retail and manufacturing.
Socket Mobile has launched the DuraSled, the first enterprise-grade barcode scanner compatible with the iPhone 12 series, including the iPhone 12, 12 Pro, 12 Pro Max, and 12 Mini. This innovation allows users to enhance productivity by turning their iPhones into effective scanning solutions.
The DuraSled features a rugged design and is available in three models: DS800 (1D scanner), DS840 (1D/2D scanner), and DS860 (1D/2D and identification scanner), making it versatile for various workplace applications. These products are now available for purchase on Socket Mobile's online store.
Socket Mobile, Inc. (NASDAQ: SCKT) has announced that its SocketScan S550 Contactless Membership Card Reader/Writer has achieved certification from Google Wallet. As part of Google's Smart Tap partner program, the S550 enables contactless transactions using NFC technology. This device is designed for loyalty programs, memberships, and customer services, allowing seamless integration with Google Pay. Priced at $269, the S550 will be available to the public on December 1, 2020. The product enhances customer experiences by facilitating secure, mobile pass interactions without the need for separate merchant apps.
Socket Mobile, Inc. (NASDAQ: SCKT) announced a $4.4 million non-cash goodwill impairment charge resulting from a lower stock price during 2020. This adjustment was recorded in the Q3 2020 results and does not impact the company's cash position or future operations. The impairment reflects a required annual assessment under accounting standards, specifically as of September 30, 2020. Despite the charge, the company maintains its cash flow and operating activities unaffected. Socket Mobile continues to focus on enhancing productivity through its data capture solutions.
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