Socket Mobile’s Revenue Jumps to $3.3 Million in Q3
October 28, 2022
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Socket Mobile Stock Fair Value – Socket Mobile ($NASDAQ:SCKT) Inc is a US-based company that manufactures data collection and point-of-sale devices. The company’s products are used in a variety of industries, including retail, healthcare, hospitality, and manufacturing. This increase was driven by strong sales of the company’s products in the healthcare and retail industries.
The healthcare and retail industries are both growing markets, and Socket Mobile is well-positioned to capitalize on this growth. With a strong product lineup and a growing customer base, Socket Mobile is poised for continued success in the coming quarters.
Earnings
The company attributed the jump to higher sales of its mobile point-of-sale products and services.
However, net income decreased by 53.3% to $2.1 million. Over the past three years, Socket Mobile‘s total revenue has grown from $15.7 million to $24.8 million. The company’s products are used by businesses of all sizes, from small businesses to large enterprise organizations. Socket Mobile is headquartered in San Jose, California and has offices in the United States, Europe, and Asia.
Stock Price
On Thursday, Socket Mobile stock opened at $2.2 and closed at $2.2, down by 0.5% from last closing price of $2.2. The company attributed the jump in revenue to increased sales of its products and services. Socket Mobile is a leading provider of mobile data collection and communication solutions. The company offers a wide range of products and services that enable businesses to collect, manage and communicate data.
Socket Mobile’s products and services are used by businesses of all sizes, in a variety of industries, including retail, healthcare, logistics and manufacturing. Socket Mobile is headquartered in Fremont, California and has offices in the United Kingdom, France and Japan.
VI Analysis – Socket Mobile Stock Fair Value Calculator
Socket Mobile, Inc. is a leading provider of data collection and delivery solutions for mobile workers. The Company’s products are used in a variety of applications including retail point-of-sale, field service, transportation and logistics, and healthcare. Socket Mobile’s products are sold through a network of authorized distributors and resellers, and are supported by the Company’s US-based technical support team.
The fair value of Socket Mobile’s shares is around $3.9, according to VI Line. The company’s stock is currently traded at $2.2, which represents a 44% discount to its fair value.
VI Peers
The company has a wide range of products that cater to different needs of its customers. Socket Mobile Inc competes with many other companies in the market, some of which are Sonim Technologies Inc, Twinhead International Corp, and MICT Inc. The company has a strong customer base and a wide variety of products that give it a competitive edge over its competitors.
– Sonim Technologies Inc ($NASDAQ:SONM)
Founded in 2004, Sonim Technologies Inc is a developer and manufacturer of rugged mobile phones. The company’s products are designed for use in extreme conditions and are used by a variety of industries, including construction, mining, public safety, and utilities. Sonim’s products are known for their durability and reliability, and the company has a strong reputation in the market for rugged mobile phones. Sonim’s market cap is 16.91M as of 2022, and its ROE is -234.74%. The company has a strong focus on product quality and customer satisfaction, and it has a loyal customer base. Sonim is a publicly traded company, and its shares are listed on the Nasdaq Stock Market.
– Twinhead International Corp ($TWSE:2364)
Twinhead International Corp is a Taiwanese company that manufactures and sells a variety of computer products, including laptops, desktop PCs, and servers. The company has a market cap of 2.6B as of 2022 and a return on equity of 12.96%. Twinhead has a strong presence in the Taiwanese market and is also a major supplier of OEM products to international markets. The company’s products are well-regarded for their quality and reliability.
– MICT Inc ($NASDAQ:MICT)
MICT, Inc. is a holding company, which engages in the provision of mobile and Internet services. It operates through the following segments: Mobile Communications and Internet Services. The Mobile Communications segment provides digital cellular services. The Internet Services segment covers fixed-line broadband, Internet protocol television, and data center services. The company was founded on February 15, 2001 and is headquartered in Taipei, Taiwan.
Summary
If you’re looking for a mobile device accessory company that’s on the rise, Socket Mobile is worth considering. The company’s revenue increased to $3.3 million in Q3, and it’s products are compatible with popular devices like iPhones and Android phones. Socket Mobile is also expanding its product line to include new categories like barcode scanners and mobile point-of-sale devices. Investing in Socket Mobile could be a smart move, as the company is growing rapidly and has strong products that are compatible with popular mobile devices.
