SOCKET MOBILE, INC.

Socket Mobile, Inc. announced the appointment of David Holmes, its President and Chief Executive Officer, to the company's Board of Directors, effective August 3, 2026. Mr. Holmes has been serving as President and CEO since June 12, 2026, and will not receive any additional compensation for his role as a director. The Board expressed confidence that his operational expertise and leadership will contribute to the company's long-term strategy.

Socket Mobile, Inc. reported its second quarter 2026 financial results, showing a significant decline in revenue and increased losses. Revenue decreased by 25% year-over-year to $3.0 million, while the net loss widened to $(1.3) million. The company attributed these results to continued challenges in the retail market and is focusing on cost management initiatives.

Socket Mobile, Inc. announced the appointment of Brent MacDonald to its Board of Directors, effective July 13, 2026. Mr. MacDonald previously served on the Board from 2016 to 2023 and is considered an independent director under Nasdaq standards. His reappointment brings extensive business and financial leadership experience, reinforcing the company's commitment to strong corporate governance. The Board now comprises six members, four of whom are independent.

Socket Mobile, Inc. announced a leadership change, removing Kevin Mills from his position as President and Chief Executive Officer on June 8, 2026. The Board of Directors subsequently appointed David A. Holmes as the new President and Chief Executive Officer, effective immediately on June 12, 2026. Mr. Holmes, who previously served as Chief Business Officer, will receive an increased annual base salary of $320,000.

Socket Mobile, Inc. received a notice from Nasdaq on May 19, 2026, indicating non-compliance with the minimum bid price rule, as its common stock traded below $1.00 for 30 consecutive business days. The company has 180 calendar days, until November 16, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for a minimum of 10 consecutive business days. Failure to comply could result in delisting, which would negatively impact the company's market value, trading, and ability to raise capital.

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.

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.