Socket Mobile (SCKT) 8-K Socket Mobile Reports 2017 Financial Results

Exhibit 99.2

Socket Mobile, Inc.

Condensed Summary Statements of Operations

(Amounts in thousands except per share amounts)

	Year ended Dec 31,						Three Months ended Dec 31,
		(Unaudited) 2017			2016*			(Unaudited) 2017			2016*
Revenue	$	21,286		$	20,788		$	4,383		$	5,430
Cost of revenue		9,896			10,354			2,062			2,711
Gross profit		11,390			10,434			2,321			2,719
Gross profit percent		53.5	%		50.2	%		53.0	%		50.1	%
Research and development		3,473			2,889			944			787
Sales and marketing		2,953			2,775			715			711
General and administrative		2,546			2,207			596			555
Total operating expenses		8,972			7,871			2,255			2,053
Interest income (expense), net		(80	)		(131	)		2			(29	)
Net income before income taxes		2,338			2,432			68			637
Income taxes - current		(51	)		(82	)		3			(21	)
Deferred taxes		(1,071	)		9,797			(145	)		9,797
Deferred taxes revaluation		(2,647	)		—			(2,647	)		—
Net income (loss)	$	(1,431	)	$	12,147		$	(2,721	)	$	10,413
Net income (loss) per share:    Basic    Fully diluted	$ $	(0.23 (0.23	) )	$ $	2.10 1.80		$ $	(0.39 (0.39	) )	$ $	1.78 1.40
Weighted average shares outstanding:    Basic    Fully diluted		6,293 6,293			5,793 6,820			7,008 7,008			5,863 7,437

 *Derived from audited financial statements.

Reconciliation of GAAP Net Income to Income Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Unaudited)

	Year ended Dec 31,						Three months ended Dec 31,
	2017			2016			2017			2016
Net income (loss) GAAP	$	(1,431	)	$	12,147		$	(2,721	)	$	10,413
Interest expense (income), net		80			131			(2	)		29
Income tax expense (benefit)		3,769			(9,715	)		2,789			(9,776	)
Depreciation		314			279			78			70
Stock compensation expense		427			343			112			99
Net income EBITDA	$	3,159		$	3,185		$	256		$	835

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Socket Mobile, Inc.

Condensed Summary Balance Sheets

(Amounts in Thousands)

	December 31,
	(Unaudited) 2017			2016*
Cash	$	3,380		$	1,319
Accounts receivable		2,687			2,867
Inventories		2,198			1,537
Deferred costs on shipments to distributors		204			948
Other current assets		386			260
Deferred tax assets		5,637			9,589
Property and equipment, net		663			564
Goodwill		4,427			4,427
Other assets		272			76
Total Assets	$	19,854		$	21,587
Accounts payable and accrued liabilities	$	1,743		$	2,214
Convertible notes payable		—			753
Deferred revenue on shipments to distributors		493			2,010
Deferred service revenue		61			73
Other liabilities		327			367
Total liabilities	$	2,624		$	5,417
Common stock		64,784			62,896
Accumulated deficit		(47,554	)		(46,726	)
Total stockholder equity	$	17,230		$	16,170
Total Liabilities and Equity	$	19,854		$	21,587

*Derived from audited financial statements.

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