Recent Updates — SCKT

Socket Mobile has delivered written notice to Nasdaq of its intention to voluntarily withdraw its common stock from listing on The Nasdaq Capital Market and transition quotation to the OTCID Market. This decision follows a notification from Nasdaq in August 2026 that the company no longer met the minimum stockholders' equity requirement of $2,500,000 under Listing Rule 5550(b)(1). The board determined that transitioning to the OTC market would significantly reduce administrative and regulatory overhead, conserve cash, and allow resources to be redirected toward core product development. Regular trading on Nasdaq is expected to cease on November 18, 2026, with quotation on the OTCID Market anticipated to commence around November 19, 2026. Socket Mobile provides data capture and delivery solutions for enhanced workplace productivity.

Socket Mobile, Inc. received a notice from Nasdaq on August 24, 2026, indicating non-compliance with Listing Rule 5550(b)(1) due to stockholders' equity of $2,382,624 falling below the $2.5 million minimum requirement. The company also failed alternative standards for market value and net income. Nasdaq granted a 45-day period until October 8, 2026, to submit a compliance plan, with potential extensions available upon acceptance. Trading will continue under symbol SCKT during this process. Socket Mobile, Inc. operates in the technology industry, specializing in mobile data capture and wireless communication solutions.

Socket Mobile, Inc. appointed David A. Holmes to its Board of Directors effective August 3, 2026. Mr. Holmes has served as the Company's President and Chief Executive Officer since June 12, 2026, and will not receive additional compensation for his board service beyond his existing executive pay. Socket Mobile is a leading provider of data capture and delivery solutions for enhanced workplace productivity.

Socket Mobile, Inc. reported second quarter 2026 results showing revenue of $3.0 million, a 25% year-over-year decline and an 18% sequential drop. Gross margin contracted to 46.4% from 49.9% in the prior year period. The company posted an operating loss of $1.2 million compared to a $677,000 loss previously, driven by persistent challenges in the retail market. Cash reserves stood at approximately $1.6 million as of June 30, 2026. Socket Mobile operates in the technology sector, providing data capture and delivery solutions such as cordless barcode scanners for workforce mobilization.