Latest news with #WilliamWentworth
Associated Press
5 days ago
- Automotive
- Associated Press
Data I/O Announces Significant Automated Programming System Order From Leading Global Automotive EV Supplier
Redmond, Washington--(Newsfile Corp. - May 29, 2025) - Data I/O Corporation (NASDAQ: DAIO), the leading global provider of advanced security and data deployment solutions for microcontrollers, security ICs and memory devices, today announced that it received an order for 10 PSV automated programming systems with Lumen®X programming platform from one of the largest EV manufacturing suppliers in China. Data I/O was selected after a complex system evaluation, including rigorous performance analysis of critical Universal Flash Storage (UFS) 4.0 support. Systems purchased under the award, valued at over $1.4 million, will be manufactured at Data I/O's facilities in Shanghai, China and expected to be delivered to locations within China during the next two quarters. William Wentworth, CEO of Data I/O Corporation, said, 'Today's announcement represents another significant customer committing to the Data I/O programming platform. It is even more gratifying that we were selected over our competition as we expanded upon a longstanding relationship with one of the world's most prominent automotive EV electronic suppliers. Although we have supported the customer for many years, this is the first time we have been selected for our robust technical support for UFS 4.0 technology. With memory technologies continuing to become more complex, this order reflects the importance of our continued R&D investments in the next generation flash memory technology to meet the needs of the growing market for high-density flash applications.' Growing market applications, including next-generation automotive, mobile computing, and AI-Edge computing, are driving growth and demand for high-density flash storage including the next generation of UFS devices. These applications are accelerating the transition from eMMC Flash memory to UFS. UFS device storage is growing to 1-2 TB per device which will require a reliable high-performance preprogramming platform to support the greater complexity. Renowned as the world's premier provider of preprogramming technology, Data I/O's automated programming solutions with the LumenX programming platform are engineered for speed and accuracy delivering blazing fast throughput, highest up-time, flexibility, and fast changeover to handle complex jobs at up to 50% lower cost. The LumenX programming platform supports the latest UFS 4.0 protocols for maximum programming performance. With complexity and density increasing with UFS 4.0, Data I/O's growing device algorithm library and maximized programming performance makes the platform ideal to support the design engineering/new product development process with a seamless transition into volume production. About Data I/O Corporation Since 1972, Data I/O has developed innovative solutions to enable the design and manufacture of electronic products for automotive, Internet-of-Things, medical, wireless, consumer electronics, industrial controls and other electronics devices. Today, our customers use Data I/O's data provisioning solutions to manage device intellectual property from point of inception to deployment in the field. OEMs of any size can program and securely provision devices from early samples all the way to high volume production prior to shipping semiconductor devices to a manufacturing line. Data I/O enables customers to reliably, securely, and cost-effectively bring innovative new products to life. These solutions are backed by a portfolio of patents and a global network of Data I/O support and service professionals, ensuring success for our customers. Learn more at Learn more at Forward-Looking Statement Statements in this news release concerning economic outlook, expected revenue, expected margins, expected savings, expected results, expected expenses, orders, deliveries, backlog and financial positions, semiconductor chip shortages, supply chain expectations, as well as any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such Relations Contact: Darrow Associates, Inc. Jordan Darrow +1-512-551-9296 [email protected] Media Contact: Data I/O Corporation Jennifer Higgins Director Corporate Marketing [email protected] +1-425-867-6922 To view the source version of this press release, please visit
Yahoo
26-04-2025
- Business
- Yahoo
Data I/O Reports First Quarter 2025 Results
Progress Made in Key Operational Areas Product Development Milestones Set Delivered Sequential Growth Despite Global Trade Tensions Redmond, Washington--(Newsfile Corp. - April 24, 2025) - Data I/O Corporation (NASDAQ: DAIO), the leading global provider of advanced security and data deployment solutions for microcontrollers, security ICs and memory devices, today announced financial results for the first quarter ended March 31, 2025. Management Comments Commenting on the quarter ended March 31, 2025, William Wentworth, President and CEO of Data I/O Corporation, said, "We are very pleased to report progress in key operational areas during the first quarter, despite a challenging global economic environment. The period represents a first step in proving out the growth and market expansion strategies we have been implementing over the past several months. "We achieved strong first quarter results, reporting increases in revenue, operating income, EBITDA and cash balance as compared sequentially to the fourth quarter. At the same time, efficiency improvements and streamlining operations resulted in a lower cost basis for manufacturing and overhead. We have made significant progress within a short period of time against a backdrop of significant economic and cross-border trade uncertainty. We remain cautious given the near-term headwinds, as this has created additional strain on the economy and stalled capital investments. We remain focused on setting the business up for sustainable growth by driving innovation and enhancing our products. Our team is energized as we enter a new era for the company with an opportunity to further implement our growth strategies. "Furthermore, we are encouraged to see customers increase the utilization of their existing systems which we believe will result in a greater need for engineering and maintenance services and heightened demand for consumable adapters, which represent our highest margin sources of revenue. Combined with continued efforts to expand our market reach, we expect to deliver top-line growth through end market diversification and enhanced consultative sales process along with improvement in the quality of our revenues. "Global tariff and trade tensions, policy uncertainty and continued automotive sector redistribution impacted our results through the first quarter. While these factors impacted our overall quarterly performance, we were still able to achieve bookings growth of 12% from the fourth quarter. As the tariff and trade scenarios play out, we are well prepared. The Company is actively advancing on steps to further fortify our business. Data I/O implemented a resilient supply chain with dual manufacturing capabilities in both the US and China during COVID which gives us a competitive advantage to manage emerging tariff policies. With the flexibility to manufacture at either location we are well positioned to cost-effectively support customers globally. Efforts are underway for redundancies between our two manufacturing locations. Additional manufacturing locations are being considered for placement within our European headquarters in Germany and with select distribution partners to optimize pathways to minimize tariffs. Regardless of short-term decision-making due to tariff and policy uncertainties, we stand to benefit as annual demand relating to capacity requirements and purchasing discussions with customers remain intact. "We have been bolstering the Data I/O brand throughout the markets we serve, including a revitalization of our activities with semiconductor firms and forging strategic product development relationships with leading firms serving the memory and microcontroller sectors. In March, we attended the embedded world trade show in Germany and participated in the IPC APEX trade show in the US where we hosted an unprecedented number of visitors. There was tremendous interest in the demonstration of our new Unified Programming Platform Strategy with a suite of refreshed manual programmers, the Lumen®X-M8 and the FlashCORE III-M4. This was the first step in our long-term product roadmap which we will reveal in the coming months. Other recent technology and service delivery innovations in the first quarter include the development of an AI-agent to significantly reduce engineering operations and improve time-to-market for customers. "We continue to grow our pipeline of opportunities beyond the automotive sector and are increasingly confident in our ability to diversify and expand our end markets while improving our value proposition." First Quarter 2025 Financial Results Net sales in the first quarter 2025 were $6.2 million, up $1 million or 19% from $5.2 million in the fourth quarter 2024 and an increase of $100,000 from $6.1 million in the first quarter 2024. The improvements were driven by business recovery and backlog deliveries in the Americas and Europe, with growth from the prior year period of 32% and 44%, respectively. Asia revenue declined 40% due to strong prior year performance and current quarter business push out from evolving trade, tariffs, late Chinese New Year and economic uncertainty. Automotive electronics, as a primary business segment, represented 66% of first quarter 2025 bookings compared to 59% for all of 2024. For the first quarter 2025, consumable adapters and services remained steady, representing 46% of total revenue and provide a stable base of re-occurring revenue. New bookings activities were strong at the start but slowed at the end of the first quarter as customers delayed purchase decisions due to global trade and tariff concerns and related automotive electronics uncertainty. First quarter 2025 bookings were $4.6 million, up from $4.1 million in fourth quarter 2024 and down from $8.1 million in first quarter 2024 due to a large $2.8 million contract from a single customer for multiple system deliveries that has spanned nearly 15 months. Backlog on March 31, 2025 was $2.9 million, down $0.6 million from December 31, 2024. Additionally, deferred revenue was approximately $1.5 million on March 31, 2025. Gross margin as a percentage of sales was 51.6% in the first quarter 2025, as compared to 52.2% in the fourth quarter 2024 and 52.8% in the prior year period. The change in gross margin as a percentage of sales primarily reflects a higher mix of system revenue and lower spending absorption from related inventory reductions. Direct material costs remained steady and consistent with prior periods. Leveraging our domestic and international production and service locations, supply chain planning and other actions are underway to mitigate the impact of new tariff, trade and inflationary pressures, including shifting material sourcing and product manufacturing. Operating expenses for the first quarter 2025 were $3.6 million, down $427,000 or over 11% from the fourth quarter 2024 and $515,000 or over 12% from the prior year period. Fourth quarter 2024 spending included approximately $500,000 in one-time charges from the previously announced organizational/leadership changes, with staffing reductions and the resulting charges contributing to an approximately $300,000 of expense savings in the first quarter 2025. Other first quarter operating expenses which are typically higher than other quarters of the year include public company costs pertaining to audit, regulatory filings and NASDAQ fees, with a total of $0.3 million recorded in the first quarter 2025. Net loss in the first quarter 2025 was ($382,000) or ($0.04) per share, compared to net loss of ($807,000) or ($0.09) per share for the prior year period and ($1.2) million or ($0.13) per share in the fourth quarter 2024. The improvement in the first quarter 2025 net loss reflects higher revenue and along with operating cost reductions which were partially offset by one-time annual public company expenses. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"), which excludes equity compensation, was ($98,000) in the first quarter 2025, compared to ($1.1) million in the fourth quarter 2024 and ($364,000) in the first quarter 2024. The Company's balance sheet and liquidity remained solid with cash at the end of the first quarter 2025 at $10.5 million, an increase of $159,000 from $10.3 million on December 31, 2024. The increased cash reflects higher sales, an improved cost structure and lower inventory levels, partially offset by higher cash expenses paid annually in the first quarter. .Data I/O had net working capital of over $16 million on March 31, 2025, relatively flat as compared to December 31, 2024. The Company continues to have no debt. Conference Call Information A conference call discussing financial results for the first quarter ended March 31, 2025 will follow this release today at 2 p.m. Pacific Time/5 p.m. Eastern Time. To listen to the conference call, please dial 412-317-5788. A replay will be made available approximately one hour after the conclusion of the call. To access the replay, please dial 412-317-0088, access code 5606603. The conference call will also be simultaneously webcast over the Internet; visit the Webcasts and Presentations section of the Data I/O Corporation website at to access the call from the site. This webcast will be recorded and available for replay on the Data I/O Corporation website approximately one hour after the conclusion of the conference call. About Data I/O Corporation Since 1972, Data I/O has developed innovative solutions to enable the design and manufacture of electronic products for automotive, Internet-of-Things, medical, wireless, consumer electronics, industrial controls and other electronics devices. Today, our customers use Data I/O's data provisioning solutions to manage device intellectual property from point of inception to deployment in the field. OEMs of any size can program and securely provision devices from early samples all the way to high volume production prior to shipping semiconductor devices to a manufacturing line. Data I/O enables customers to reliably, securely, and cost-effectively bring innovative new products to life. These solutions are backed by a portfolio of patents and a global network of Data I/O support and service professionals, ensuring success for our customers. Learn more at Learn more at Forward Looking Statement and Non-GAAP financial measures Statements in this news release concerning economic outlook, expected revenue, expected margins, expected savings, expected results, expected expenses, orders, deliveries, backlog and financial positions, semiconductor chip shortages, supply chain expectations, as well as any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statement disclaimers also apply to the demand for the Company's products and the impact from geopolitical conditions including any related international trade restrictions. These factors include uncertainties as to the ability to record revenues based upon the timing of product deliveries, shipping availability, installations and acceptance, accrual of expenses, coronavirus related business interruptions, changes in economic conditions, part shortages and other risks including those described in the Company's filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC), press releases and other communications. Non-GAAP financial measures, such as EBITDA and Adjusted EBITDA, excluding equity compensation, should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding the Company's results and facilitate the comparison of results. Contact: Darrow Associates, Darrow(512) 551-9296jdarrow@ - tables follow - DATA I/O CORPORATIONCONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share amounts)(UNAUDITED) Three Months EndedMarch 31,2025 2024 Net Sales $ 6,176$ 6,099Cost of goods sold2,988 2,879Gross margin3,188 3,220Operating expenses: Research and development1,515 1,582Selling, general and administrative2,050 2,498Total operating expenses3,565 4,080Operating income (loss)(377 )(860 ) Non-operating income (loss): Interest income38 80Foreign currency transaction gain (loss)(22 )14Total non-operating income (loss)16 94Income (loss) before income taxes(361 )(766 ) Income tax (expense) benefit(21 )(41 ) Net income (loss)($382 )($807 ) Basic earnings (loss) per share($0.04 )($0.09 ) Diluted earnings (loss) per share($0.04 )($0.09 ) Weighted-average basic shares9,238 9,023Weighted-average diluted shares9,238 9,023 DATA I/O CORPORATIONCONSOLIDATED BALANCE SHEETS(in thousands, except share data)(UNAUDITED) March 31,2025 December 31,2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 10,485$ 10,326Trade accounts receivable, net of allowance for credit losses accounts of $22 and $222, respectively3,865 3,960Inventories5,820 6,212Other current assets845 659TOTAL CURRENT ASSETS21,015 21,157 Property, plant and equipment - net921 1,001Other assets2,577 2,812TOTAL ASSETS $ 24,513$ 24,970 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 1,342$ 820Accrued compensation955 1,517Deferred revenue1,460 1,535Other accrued liabilities1,205 1,161Income taxes payable39 39TOTAL CURRENT LIABILITIES5,001 5,072 Operating lease liabilities1,906 2,160Long-term other payables59 112 STOCKHOLDERS' EQUITY Preferred stock - Authorized, 5,000,000 shares, including 200,000 shares of Series A Junior Participating Issued and outstanding, none- -Common stock, at stated value - Authorized, 30,000,000 shares Issued and outstanding, 9,239,731 shares as of March 31, 2025 and 9,236,040 shares as of December 31, 202423,652 23,475Accumulated earnings (deficit)(6,120 )(5,738 ) Accumulated other comprehensive income15 (111 ) TOTAL STOCKHOLDERS' EQUITY17,547 17,626TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 24,513$ 24,970 DATA I/O CORPORATIONNON-GAAP FINANCIAL MEASURE RECONCILIATION Three Months EndedMarch 31,2025 2024(in thousands) Net Income (loss)($382 )($807 ) Interest (income)(38 )(80 ) Taxes21 41Depreciation and amortization127 201EBITDA earnings($272 )($645 ) Equity compensation174 281 Adjusted EBITDA, excluding equity compensation($98 )($364 ) To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
27-02-2025
- Business
- Yahoo
Data I/O Reports Fourth Quarter 2024 Results
Company Announces New Era with Strategic Focus on Optimization of Core Programming Platform and Enhanced Sales Process REDMOND, Wash., February 27, 2025--(BUSINESS WIRE)--Data I/O Corporation (NASDAQ: DAIO), the leading global provider of advanced security and data deployment solutions for microcontrollers, security ICs and memory devices, today announced financial results for the fourth quarter ended December 31, 2024. Management Comments Commenting on the fiscal year ended December 31, 2024 and the Company's future, William Wentworth, President and CEO of Data I/O Corporation, said, "Since being appointed CEO in October 2024, I have spent a great deal of time strategizing with our leadership team and global workforce, reviewing all internal and external operations and sales processes, analyzing our programming technologies, assessing the competitive landscape, visiting with our customers and partners around the world, and meeting with shareholders and prospective investors. I am even more confident in our brand position and potential to become the platform of choice for our partners. "Our team is optimizing the current programming platform and initiating a consultative sales process that has proven to be successful throughout the technology landscape. It is worth reiterating that I've been intimately involved in the programmable semiconductor industry for more than 40 years. Source Electronics, while I was founder and CEO, became the largest independent programming center business. This experience gives Data I/O a unique perspective of customer needs. Over the past five months since the CEO transition, our team has hit the ground running by leveraging our collective industry backgrounds as we develop plans to accelerate growth, drive profitability and expand market share. "In 2024 under prior management, Data I/O delivered a net loss driven by lower sales and one-time expenses associated with our leadership changes and strategic initiatives. While we significantly reduced operating expenses since 2023, that work continues today. We are optimizing business operations, including the use of technology and process automation, with a view toward scaling our revenue lines and delivering profitable growth. "Recent actions include the development of an AI-agent to improve a critical customer support function that significantly reduced the process within our engineering operations. We redesigned our Field Service and Support model which will be launched later this quarter in a region with concentrated system deployments. We have also identified several actions to further reduce costs which should increase attach rates of service contracts and better manage inventory, both areas of re-occurring and consumable revenues. These are very encouraging points of progress in a relatively short period of time. "The perspective comes from being a customer for 30 years. With our new management team in place, this is a culture that has allowed us to lay the groundwork for Data I/O's transformation, with a strategic focus on optimizing the current programming platform and initiating a consultative sales process. We believe these early changes create a more efficient and effective organization with a clear vision, while maintaining financial discipline and lowering our total cost of operations. We are excited to share our progress as we enter a new era of Data I/O." Fourth Quarter 2024 Financial Results Net sales in the fourth quarter 2024 were $5.2 million, down 25% compared with $6.9 million in the fourth quarter 2023. For the full year 2024, net sales were $21.8 million, down 22% from $28.1 million for 2023. In 2024, automotive electronics uncertainty persisted and customer capacity expansion slowed, resulting in lower system shipments in the Americas and Europe which were partially offset by growth in Asia. Automotive electronics represented 59% of 2024 bookings compared to 63% for 2023. While automotive system sales were below expectations, the Company continues to expand its sales to service providers (franchise distribution, contract manufacturers and independent providers) and reoccurring revenue offerings. For the full year, consumable adapters and services revenue remained steady, representing 50% of total revenue and helping mitigate the decline in system sales. Fourth quarter 2024 bookings were $4.1 million, down 42% from $7.2 million for the fourth quarter 2023. Bookings for 2024 were $22.5 million, down 13% from $25.8 million in 2023 due to similar market challenges noted for revenue. Backlog on December 31, 2024 was $3.5 million, up $0.7 million from the fourth quarter 2023, which will benefit revenue recognition in the first half 2025 as systems are shipped. Additionally, deferred revenue was approximately $1.6 million on December 31, 2024. Gross margin as a percentage of sales was 52.2% in the fourth quarter 2024, as compared to 58.0% in the prior year period. Full year gross margin was 53.3% for 2024, as compared to 57.7% for 2023. The decrease in gross margin as a percentage of sales primarily reflects lower sales volume and related lower absorption of fixed manufacturing and service operating costs. Actual 2024 production and service spending decreased by $250,000 or 4% from the prior year. Operating expenses for the fourth quarter 2024 were $4.0 million, up $179,000 or 5% from the prior year period. Spending included approximately $500,000 in one-time charges from the previously announced organizational and leadership changes. These staffing reductions and the resulting charges will contribute to expense savings in 2025. Other incremental expenses in the fourth quarter 2024 of approximately $120,000 for strategic enhancements to the Company's core platform and other new technology investments were also initiated. Full year 2024 expenses were $14.6 million, down $1.1 million or 7% from the prior year. Excluding the one-time fourth quarter charges, full year operating expenses would have declined by over $1.7 million or 12% from the prior year. Cost containment and efficiency improvements undertaken in the second half 2023 and throughout 2024 contributed to lower operating expenses. Net loss in the fourth quarter 2024 was ($1.2) million or ($0.13) per share, compared to net income of $144,000 or $0.02 per share for the prior year period. For 2024, net loss was ($3.1) million or ($0.34) per share, compared to net income of $486,000 or $0.05 per share in 2023. The 2024 revenue decrease of $6.3 million and gross profit decline of 440 basis points contributed to a gross margin decline of $4.6 million which was partially offset by $1.1 million in operating cost reductions. Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"), which excludes equity compensation, was ($1.1) million in the fourth quarter 2024, compared to $514,000 for the prior year period. For the full year, Adjusted EBITDA was ($1.4) million in 2024, compared to $2.3 million in 2023. The Company's balance sheet and liquidity remained solid with cash at the end of the fourth quarter 2024 at $10.3 million, a decrease of $2 million from $12.3 million on December 31, 2023. The full year cash decrease reflects lower sales and gross margin partially offset by operating expense reductions and strong accounts receivable collections. Despite the market slowdown, customer collection risk remains very low with steady trade receivable DSOs and minimal past due collections. Data I/O had net working capital of $16.1 million on December 31, 2024, down from $18.4 million on December 31, 2023. The Company continues to have no debt. Conference Call Information A conference call discussing financial results for the fourth quarter ended December 31, 2024 will follow this release today at 2 p.m. Pacific Time/5 p.m. Eastern Time. To listen to the conference call, please dial 412-317-5788. A replay will be made available approximately one hour after the conclusion of the call. To access the replay, please dial 412-317-0088, access code 2420039. The conference call will also be simultaneously webcast over the Internet; visit the Webcasts and Presentations section of the Data I/O Corporation website at to access the call from the site. This webcast will be recorded and available for replay on the Data I/O Corporation website approximately one hour after the conclusion of the conference call. About Data I/O Corporation Since 1972, Data I/O has developed innovative solutions to enable the design and manufacture of electronic products for automotive, Internet-of-Things, medical, wireless, consumer electronics, industrial controls and other electronics devices. Today, our customers use Data I/O's data provisioning solutions to manage device intellectual property from point of inception to deployment in the field. OEMs of any size can program and securely provision devices from early samples all the way to high volume production prior to shipping semiconductor devices to a manufacturing line. Data I/O enables customers to reliably, securely, and cost-effectively bring innovative new products to life. These solutions are backed by a portfolio of patents and a global network of Data I/O support and service professionals, ensuring success for our customers. Learn more at Learn more at Forward Looking Statement and Non-GAAP financial measures Statements in this news release concerning economic outlook, expected revenue, expected margins, expected savings, expected results, expected expenses, orders, deliveries, backlog and financial positions, semiconductor chip shortages, supply chain expectations, as well as any other statement that may be construed as a prediction of future performance or events are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statement disclaimers also apply to the demand for the Company's products and the impact from geopolitical conditions including any related international trade restrictions. These factors include uncertainties as to the ability to record revenues based upon the timing of product deliveries, shipping availability, installations and acceptance, accrual of expenses, coronavirus related business interruptions, changes in economic conditions, part shortages and other risks including those described in the Company's filings on Forms 10-K and 10-Q with the Securities and Exchange Commission (SEC), press releases and other communications. Non-GAAP financial measures, such as EBITDA and Adjusted EBITDA, excluding equity compensation, should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding the Company's results and facilitate the comparison of results. - tables follow - DATA I/O CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (UNAUDITED) Three Months EndedDecember 31, Twelve Months EndedDecember 31, 2024 2023 2024 2023 Net Sales $5,185 $6,874 $21,769 $28,064 Cost of goods sold 2,480 2,883 10,163 11,878 Gross margin 2,705 3,991 11,606 16,186 Operating expenses: Research and development 1,701 1,602 6,240 6,524 Selling, general and administrative 2,291 2,211 8,404 9,214 Total operating expenses 3,992 3,813 14,644 15,738 Operating income (loss) (1,287) 178 (3,038) 448 Non-operating income (loss): Interest income 49 65 273 190 Gain on sale of assets - - - - Foreign currency transaction gain (loss) 48 (65) 58 42 Total non-operating income (loss) 97 - 331 232 Income (loss) before income taxes (1,190) 178 (2,707) 680 Income tax (expense) benefit 8 (34) (386) (194) Net income (loss) ($1,182) $144 ($3,093) $486 Basic earnings (loss) per share ($0.13) $0.02 ($0.34) $0.05 Diluted earnings (loss) per share ($0.13) $0.02 ($0.34) $0.05 Weighted-average basic shares 9,236 9,021 9,150 8,941 Weighted-average diluted shares 9,236 9,096 9,150 9,073 DATA I/O CORPORATION CONSOLIDATED BALANCE SHEETS (in thousands, except share data) (UNAUDITED) December 31,2024 December 31,2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $10,326 $12,341 Trade accounts receivable, net of allowance for doubtful accounts of $22 and $72, respectively 3,960 5,707 Inventories 6,212 5,875 Other current assets 659 690 TOTAL CURRENT ASSETS 21,157 24,613 Property, plant and equipment – net 1,001 1,359 Other assets 2,812 1,429 TOTAL ASSETS $24,970 $27,401 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $820 $1,272 Accrued compensation 1,517 2,003 Deferred revenue 1,535 1,362 Other accrued liabilities 1,161 1,438 Income taxes payable 39 113 TOTAL CURRENT LIABILITIES 5,072 6,188 Operating lease liabilities 2,160 702 Long-term other payables 112 192 COMMITMENTS - - STOCKHOLDERS' EQUITY Preferred stock - Authorized, 5,000,000 shares, including 200,000 shares of Series A Junior Participating Issued and outstanding, none - - Common stock, at stated value - Authorized, 30,000,000 shares Issued and outstanding, 9,236,040 shares as of December 31, 2024 and 9,020,819 shares as of December 31, 2023 23,475 22,731 Accumulated earnings (deficit) (5,738) (2,645) Accumulated other comprehensive income (111) 233 TOTAL STOCKHOLDERS' EQUITY 17,626 20,319 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $24,970 $27,401 DATA I/O CORPORATION NON-GAAP FINANCIAL MEASURE RECONCILIATION Three Months EndedDecember 31, Twelve Months EndedDecember 31, 2024 2023 2024 2023 (in thousands) Net Income (loss) ($1,182) $144 ($3,093) $486 Interest (income) (49) (65) (273) (190) Taxes (8) 34 386 194 Depreciation and amortization 115 140 565 608 EBITDA earnings ($1,124) $253 ($2,415) $1,098 Equity compensation 9 261 976 1,190 Adjusted EBITDA, excluding equity compensation ($1,115) $514 ($1,439) $2,288 View source version on Contacts Gerald NgVice President and CFOData I/O Corporation6645 185th Ave. NE, Suite 100Redmond, WA 98052Investor-Relations@ Darrow Associates, Darrow(512) 551-9296jdarrow@ Sign in to access your portfolio
