Quarterly ResultMay 5, 2026, 04:15 PM
Socket Mobile Q1 Revenue $3.7M, Net Loss $(0.9)M
AI Summary
Socket Mobile, Inc. reported its first-quarter 2026 financial results, with revenue decreasing 7% year-over-year to $3.7 million and a net loss of $(0.9) million, an improvement from $(1.0) million in the prior-year quarter. The company completed a $0.5 million convertible note financing to strengthen working capital and support ongoing innovation. Despite acknowledging that results fell short of expectations due to broader customer caution, Socket Mobile highlighted operational resilience, streamlined cost structure, and the launch of several critical products and platform integrations.
Key Highlights
- Revenue decreased 7% to $3.7 million in Q1 2026 from $4.0 million in Q1 2025.
- Gross margin improved to 51.3% in Q1 2026 from 50.4% in Q1 2025.
- Operating expenses decreased 8% to $2.7 million in Q1 2026 from $2.9 million in Q1 2025.
- Operating loss was $(0.8) million in Q1 2026, an improvement from $(0.9) million in Q1 2025.
- Net loss was $(0.9) million in Q1 2026, an improvement from $(1.0) million in Q1 2025.
- Basic net loss per share was $(0.11) in Q1 2026, compared to $(0.13) in Q1 2025.
- Completed a $0.5 million secured subordinated convertible note financing in March 2026.
- Launched S721 and iPhone 17e solutions, expanding partner ecosystem.