SCKT News & Events

Socket Mobile (SCKT) announced that its rugged and industrial scanning solutions, including the XtremeScan, DuraSled, and DuraScan Terminal families, are compatible with Apple's (AAPL) newly released iPhone 17e.

Reports Q3 revenue $3.1M vs. $3.9M last year. "Although Q3 has traditionally been a slower quarter for us, our sales-out to end users held steady compared to Q2, which is encouraging given current market conditions," said CEO Kevin Mills. "Our revenue is driven by gross shipments to distributors. Slower distributor bookings and reduced channel inventory contributed to the lower reported revenue for the quarter. In addition, several deployment deals were delayed, reflecting customers' cautious spending and continued focus on cash preservation. While headwinds persist, our steady sales-out from distributors and lower channel inventory levels suggest that our distributors will soon need to replenish inventory to maintain the current run rates. In response to the softer business environment, management implemented cost-saving measures that resulted in a 13% reduction in operating expenses compared to Q3 last year and a 6% decrease from the prior quarter. We will continue to monitor expenses and cash outflows carefully to navigate this challenging period. Our XtremeScan products have continued to attract interest, although the sales cycle is long. We remain committed to investing in both new and existing products for the industrial market, with the goal of driving long term revenue."

The company will not receive any proceeds from the sale of the shares offered by this prospectus.

Reports Q2 revenue $4.04B vs. $5.08B last year. "We continued to experience weaker revenue trends throughout Q2, driven by a slower run rate," said CEO Kevin Mills. "Additionally, concerns around potential tariffs led to significantly reduced purchases from our distributors. This resulted in a notable decline in bookings in Q2 2025, which in turn impacted our gross shipments. We expect these headwinds to persist through the remainder of the year. In response, we raised $1.5M through a secured subordinated convertible note financing and implemented cost-saving measures, including reductions in operating expenses, to help navigate this challenging period. Despite the broader market challenges, our new XtremeScan products have been well received by initial customers and are gaining broader interest," he continued. "The XtremeScan products are being used in conjunction with iOS devices to enable frontline workers to capture data more precisely, respond more decisively, and execute critical tasks with greater speed and confidence. We look forward to sharing more details about our new product initiatives and strategies to drive revenue growth during our upcoming conference call".