#United States #Fremont #Socket Mobile #Data Capture #Q1 Results

Socket Mobile Announces First Quarter 2026 Results

FREMONT, Calif. – On May 5, 2026, Socket Mobile, Inc. (NASDAQ: SCKT), a leading provider of data capture solutions, unveiled its financial results for the first quarter of 2026. The report, which complies with generally accepted accounting principles (GAAP) in the United States, showcases both challenges faced and milestones achieved during the quarter.

Financial Performance Highlights

In the first quarter, Socket Mobile generated a revenue of $3.7 million. This figure marks a 7% decline compared to $4.0 million in the same quarter last year and a slight drop from the previous quarter. The gross margin increased to 51.3%, showing an improvement from 50.4% in the prior-year quarter and 50.2% in Q4 2025.

Operating expenses were reported at $2.7 million, an 8% reduction from $2.9 million in Q1 2025 but up 3% from the previous quarter. This led to an operating loss of $0.8 million, which is slightly better than the $0.9 million loss reported in the same quarter last year.

To shore up its working capital, Socket Mobile successfully completed a $0.5 million secured subordinated convertible note financing on March 27, 2026. This move is expected to bolster the company’s operational viability while supporting its commitment to ongoing innovation.

Insights from Leadership

Kevin Mills, President and CEO of Socket Mobile, addressed the results, acknowledging that the first-quarter performance did not meet expectations due to broader customer reticence and delays in spending. "We recognize that our first-quarter results fell short of expectations. However, our focus remains steadfast on operational resilience. We have streamlined our cost structure and launched several crucial products, including the S721 and iPhone 17e solutions, which we believe will enhance our competitive edge," Mills stated.

Product Innovations and Ecosystem Expansion

In Q1, Socket Mobile made significant strides in expanding its partner ecosystem. A notable achievement was the launch of native support for the SocketScan S721 and S741 barcode scanners on the Shopify platform. This integration empowers Shopify merchants to utilize advanced Bluetooth® Low Energy technology, which enhances retail operations and ID verification processes.

Additionally, the company strengthened its offerings within the Apple ecosystem by introducing industrial scanning solutions, including the XtremeScan and DuraSled families tailored for the new iPhone 17e. These innovations are complemented by the rollout of CaptureSDK 2.0, equipping developers with a more robust toolkit for integrating high-performance data capture across iOS and Android applications.

Looking Forward

Mills expressed optimism about the future, stating, "We remain dedicated to delivering reliable and high-quality data capture solutions that empower our customers to increase productivity and remain competitive in ever-evolving markets. We are excited to share further updates during our upcoming conference call."

Conference Call Details

An important conference call to discuss the quarterly results and future outlook is scheduled for today at 2 PM Pacific (5 PM Eastern). Interested parties can join the live conference call by dialing (800) 237-1091 toll-free within the U.S., or (848) 488-9280.

About Socket Mobile, Inc.

Socket Mobile specializes in providing data capture and delivery solutions aimed at enhancing productivity in workforce mobilization. The company primarily derives revenue from deploying third-party applications that utilize Socket Mobile’s cordless barcode scanners and contactless readers. Mobile applications servicing various sectors, including specialty retail, field service, digital ID, and transportation, significantly contribute to its revenue. Headquartered in Fremont, California, Socket Mobile is dedicated to enhancing operational efficiency for its clients through state-of-the-art technology and a strong developer network. For more information, visit their website at www.socketmobile.com. Follow Socket Mobile on social media for the latest updates.