Quarterly ResultMay 13, 2026, 12:56 PM
Socket Mobile Q1 Revenue Down 6.7% to $3.7M; Net Loss Narrows to $0.11/Share
AI Summary
Socket Mobile, Inc. reported a 6.7% decrease in Q1 2026 revenues to $3.7 million, primarily due to weaker demand in domestic and international markets. Despite the revenue decline, the company significantly narrowed its net loss by 9.4% to $(899,576), resulting in an improved net loss per share of $(0.11). Gross profit margin slightly increased to 51.3%, demonstrating effective cost control. The company also secured $500,000 in new subordinated convertible notes and modified its bank financing agreement.
Key Highlights
- Q1 2026 revenues decreased 6.7% to $3.70 million from $3.97 million in Q1 2025.
- Net loss narrowed by 9.4% to $(899,576) in Q1 2026 from $(994,140) in Q1 2025.
- Basic and diluted net loss per share improved to $(0.11) in Q1 2026 from $(0.13) in Q1 2025.
- Gross profit margin increased to 51.3% in Q1 2026 from 50.4% in Q1 2025.
- Operating loss narrowed by 15.0% to $(759,667) in Q1 2026 from $(893,673) in Q1 2025.
- Cash and cash equivalents decreased to $1.71 million at March 31, 2026, from $2.03 million at December 31, 2025.
- Issued $500,000 in new subordinated convertible notes in Q1 2026.
- Modified bank financing agreement, reducing credit line to $1.0M and extending maturity to July 31, 2026.
Price Impact
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