• Like Logitech, but specializing in professional barcode scanners and RFID readers that connect to smartphones and tablets for business use.
• Imagine a Square (Block) for barcode and RFID scanning, empowering businesses to use their mobile devices for inventory, point-of-sale, and other data capture tasks.

• Portable Barcode Scanners: Handheld, Bluetooth-enabled devices designed for fast and accurate data capture from 1D and 2D barcodes.
• RFID Readers: Devices that enable the reading and writing of Radio Frequency Identification (RFID) tags for inventory and asset tracking.
• DuraSled Barcode Scanners: Integrated solutions that attach and combine Socket Mobile scanners with popular mobile devices like iPhones or iPods into a durable sled.
• Developer Tools & SDKs: Software Development Kits and libraries provided to developers to easily integrate Socket Mobile's data capture hardware into their applications.
• Accessories: Complementary products such as charging docks, protective cases, and mounts designed to enhance the usability and longevity of their devices.

Socket Mobile (SCKT) sells primarily to other companies (B2B model) rather than directly to individuals. The company develops and manufactures portable data capture devices, such as barcode scanners and RFID readers, which are integrated into mobile applications and systems developed by its customers.

According to its financial filings, Socket Mobile does not currently have any single customer that accounts for more than 10% of its net revenues, meaning there isn't one dominant "major customer" that can be individually named based on revenue concentration from public disclosures. However, its major customer categories and sales channels primarily include:

• Independent Software Vendors (ISVs): These companies develop specialized software applications (e.g., for mobile point-of-sale, inventory management, asset tracking, healthcare, event management) and integrate Socket Mobile's hardware as a key component of their overall solution. These ISVs then sell their complete solutions to end-user businesses.
• Value-Added Resellers (VARs): VARs purchase Socket Mobile products and bundle them with other hardware, software, and services to create complete, customized solutions for their end-user clients across a diverse range of industries, including retail, logistics, field service, and government.
• Original Equipment Manufacturers (OEMs): OEMs incorporate Socket Mobile's scanning and RFID technology directly into their own manufactured products or systems, often as embedded components.
• Distributors: Large technology distributors act as a primary sales channel for Socket Mobile, selling its products to ISVs, VARs, and larger enterprise customers globally. While these distributors are direct customers of Socket Mobile, they serve as intermediaries in reaching the ultimate businesses that use the technology. Examples of such distributors, although not specifically named as "major customers" by SCKT, include large entities like Ingram Micro and TD Synnex (SNX).

Given the nature of its business and stated customer diversification, Socket Mobile focuses on enabling a broad ecosystem of partners to deliver mobile data capture solutions across various vertical markets.

Kevin J. Mills President & Chief Executive Officer

Kevin J. Mills was appointed President and Chief Executive Officer of Socket Mobile, and a member of its Board of Directors, in March 2000. Prior to this, he served as Vice President of Operations, Vice President of Engineering, and Chief Operating Officer at Socket Mobile. Before joining Socket Mobile, he spent six years at Logitech, Inc., a computer peripherals company, where he most recently served as Director of Operations. Mr. Mills began his career as Quality Assurance Manager for NorthStar Computers Ireland. He holds a B.E. degree with honors in Electronic Engineering from the University of Limerick, Ireland.

Lynn Zhao Vice President of Finance and Administration, Secretary and Chief Financial Officer

Lynn Zhao was appointed to the position of Chief Financial Officer in May 2019. She has served as the Company's Controller since January 2015 and was appointed as Vice President and Controller in September 2017. Ms. Zhao is a member of the Company's Executive Leadership team.

Leonard L. Ott Senior VP and Chief Information Officer

Leonard L. Ott was appointed Executive Vice President of Engineering in January 2019. He is responsible for Socket Mobile's strategic technical direction and manages the Company's internal IT infrastructure. Joining Socket Mobile in March 1994, Mr. Ott held increasingly responsible positions, starting as Senior Software Engineer and then Director of Software Development. He has been active in various trade associations and technical groups setting standards for mobile devices. Before joining Socket Mobile, Mr. Ott was Vice President of Research and Development with Vision Network Systems. He holds a B.A. degree in Computer Science from the University of California at Berkeley.

Dave Holmes Chief Business Officer

Dave Holmes was appointed Chief Business Officer in May 2021. In this role, he is responsible for Socket Mobile's worldwide business development and marketing activities. Mr. Holmes is recognized as a pioneer in the NFC and mobile payments industry, with over 20 years of experience. His past experience includes working with NFC industry leaders NXP and Identive, and most recently, he was responsible for Global Strategic Accounts at UL's Cybersecurity division.

Eric Glaenzer Vice President and Chief Software Architect

Eric Glaenzer has been with Socket Mobile since February 2005. He initially served as Director of Software and later as Vice President and Chief Software Architect since January 2019. From 2003 to 2005, Mr. Glaenzer was the Company's Bluetooth Group Manager. He began his career in 1991 as a Project Leader at SAFRAN, where he was responsible for secure identification systems for the French army. Mr. Glaenzer holds an MBA degree from HEC, Paris, and a Bachelor of Science degree in Engineering from EPITA in France.

The increasing capability and enterprise adoption of camera-based barcode scanning solutions running directly on standard smartphones and tablets represent a clear emerging threat. As smartphone camera technology improves in resolution, low-light performance, and depth sensing, and as computer vision and machine learning algorithms become more sophisticated and efficient, the performance gap between a smartphone camera and a dedicated hardware scanner is narrowing for many common use cases (e.g., 1D and some 2D scanning in retail, ticketing, light inventory). This can diminish the perceived need or value proposition for external, dedicated barcode scanners, especially for businesses seeking to leverage existing employee devices (BYOD) or minimize hardware costs by utilizing integrated software solutions on their existing mobile devices.

Socket Mobile (SCKT) primarily operates within the barcode scanner and RFID reader markets, and has recently expanded into the mobile handheld computing market. These products and services fall under the broader Automatic Identification and Data Capture (AIDC) market.

Addressable Markets:

• Barcode Scanner Market: The global barcode reader market was valued at $7.4 billion in 2022 and is projected to reach $13.3 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 6.3% from 2023 to 2032. North America held the largest regional market share for barcode readers in 2023. Other estimates for the global barcode scanner market size include USD 7.4 billion in 2024, projected to reach USD 13.0 billion by 2033 (CAGR of 6.13% from 2025-2033). Another report valued the global market at USD 7.86 billion in 2023, anticipating growth to USD 13.05 billion by 2030 (CAGR of 7.5% between 2024 and 2030).
• RFID Readers Market: The global RFID readers market was valued at USD 15.74 billion in 2023 and is expected to reach USD 35.91 billion by 2032, growing at a CAGR of 9.6% over the forecast period (2024-2032). North America is the largest regional market for RFID readers. Another source estimated the global RFID readers market at USD 14.06 billion in 2023, projected to reach USD 36.89 billion by 2032 (CAGR of 11.37% from 2024-2032).
• Mobile Handheld Computing Market: Socket Mobile announced its entry into the mobile handheld computing market, which is valued at $27 billion. The specific year for this valuation was not explicitly stated in the provided snippets, but the announcement was made in 2025.
• Automatic Identification and Data Capture (AIDC) Market: This broader market encompasses barcode scanners and RFID readers. The global AIDC market size was valued at USD 54.1 billion in 2023 and is projected to grow at a CAGR of 12.6% between 2024 and 2032, reaching USD 153.2 billion by 2032. The hardware segment, which includes barcode scanners and RFID readers, accounted for over 50% of the market share in 2023. North America held a significant share, accounting for 70% of the revenue in the U.S. AIDC market in 2023. Another estimate places the global AIDC market at USD 69.81 billion in 2024, with a projection to reach USD 136.86 billion by 2030 (CAGR of 11.7% from 2025-2030).

Socket Mobile (SCKT) is anticipating several key drivers of future revenue growth over the next two to three years, focusing on market diversification and new product adoption.

1. Expansion into the Industrial Market: Socket Mobile is strategically expanding its presence in the ruggedized scanning and handheld computing markets to diversify its revenue base beyond the traditional retail sector. The company has introduced its XtremeScan family of industrial barcode scanners, including the XtremeScan iXG and iXS series, designed for demanding environments such as warehousing, logistics, manufacturing, mining, energy, and construction. This expansion is expected to put Socket Mobile into the $27 billion mobile handheld computing market, with initial positive evaluations and projected momentum building in the coming quarters and years.
2. Launch and Adoption of New Products: The company is banking on new product introductions to fuel growth. Key among these are the continued rollout and adoption of the XtremeScan family, including new BYOD (Bring Your Own Device) scanners that are fully compatible with devices like the iPhone 16. Additionally, the expansion of the DuraScan series, tailored for the logistics and manufacturing sectors, is expected to contribute to revenue. Socket Mobile also launched CaptureSDK 2.0, a foundational software platform that supports both current and future Bluetooth Low Energy (LE) barcode scanners, promising improved connection speeds and faster application integration. A new 1D/2D barcode scanner, the SocketScan S721, is also planned for release in late 2025.
3. Replenishment of Channel Inventory: While recent financial reports indicated a decline in reported revenue due to distributors reducing their channel inventory, sales to end-users have remained stable. This suggests an impending need for distributors to restock their inventory to meet consistent end-user demand, which is anticipated to drive future revenue growth for Socket Mobile.
4. Leveraging Apple Sales Opportunities: Socket Mobile is prioritizing continued investment in "Apple sales-related opportunities" as a strategic focus for long-term growth. The company has ensured that its CaptureSDK and entire line of barcode scanners and NFC reader/writers are fully compatible with iOS 18 and newer Apple devices like the iPhone 16, allowing users to integrate its industrial scanners with Apple's latest technology. Securing additional Apple-related opportunities is expected to deliver substantial long-term benefits.

Share Repurchases

• Socket Mobile had a share repurchase program in place during 2021 and 2022.
• As of Q1 2024, there was no active share repurchase plan due to the company's cash position.

Share Issuance

• In August 2023, the company secured $1.6 million through subordinated convertible note financing.
• In May 2025, Socket Mobile completed a $1.5 million secured subordinated convertible note funding, with key insiders participating, where investors can convert principal into common stock at $1.07 per share.
• The number of common shares outstanding increased from 7,952,988 as of March 20, 2025, to 7,976,462 as of November 3, 2025.

Inbound Investments

• The company strengthened its balance sheet in August 2023 with a $1.6 million secured subordinated convertible note financing.
• In May 2025, Socket Mobile received $1.5 million in secured subordinated convertible note funding, with participation from key insiders, aimed at improving working capital.

Capital Expenditures

• Cash outflows for capital expenditures were approximately $50,000 in Q1 2025.
• The company plans to sustain investments in research and development and Apple sales-related opportunities.