Data I/O Corp Reports Q3 2024 Financials

TL;DR

DATA I/O CORP FILED ITS Q3 2024 FINANCIAL RESULTS ON 10/25.

AI Summary

Data I/O Corporation filed an 8-K on October 25, 2024, reporting on its Results of Operations and Financial Condition as of October 24, 2024. The filing includes financial statements and exhibits related to the company's performance.

Why It Matters

This 8-K filing provides investors with crucial updates on Data I/O Corporation's financial performance and operational results for the third quarter of 2024.

Risk Assessment

Risk Level: low — This filing is a routine financial report and does not indicate any unusual risks or significant events.

Key Players & Entities

• Data I/O Corp (company) — Registrant
• October 24, 2024 (date) — Date of earliest event reported
• October 25, 2024 (date) — Filing date
• 3825 (sic_code) — Instruments for Meas & Testing of Electricity & Elec Signals

FAQ

Key Financial Figures

• $5.4 m — et sales in the third quarter 2024 were $5.4 million, down 17% compared with $6.6 mill
• $6.6 million — re $5.4 million, down 17% compared with $6.6 million in the third quarter 2023. Since the be
• $4.7 m — hird-quarter bookings mirrored sales at $4.7 million, down from $5.3 million in the pr
• $5.3 million — rrored sales at $4.7 million, down from $5.3 million in the prior year. Backlog remains stro
• $4.7 million — e prior year. Backlog remains strong at $4.7 million as of September 30, 2024, down $0.7 mil
• $0.7 million — million as of September 30, 2024, down $0.7 million from the start of the quarter, with fur
• $3.2 m — expenses in the third quarter 2024 were $3.2 million, down $334,000 or 9% from the pri
• $334,000 — rd quarter 2024 were $3.2 million, down $334,000 or 9% from the prior year period and do
• $1.3 million — 9% from the prior year period and down $1.3 million or 11% year-to-date compared to the pri
• $307,000 — Net loss in the third quarter 2024 was ($307,000), or ($0.03) per share, compared with n
• $0.03 — third quarter 2024 was ($307,000), or ($0.03) per share, compared with net loss of (
• $53,000 — ) per share, compared with net loss of ($53,000), or ($0.01) per share, in the third qu
• $0.01 — ompared with net loss of ($53,000), or ($0.01) per share, in the third quarter 2023.
• $37,000 — which excludes equity compensation, was $37,000 in the third quarter 2024, compared to
• $402,000 — er 2024, compared to Adjusted EBITDA of $402,000 in the third quarter 2023. The Compan

Filing Documents

• f8k_q32024results.htm (8-K) — 153KB
• x24102506294600.gif (GRAPHIC) — 6KB
• 0000351998-24-000024.txt ( ) — 163KB

02 Results of Operation and Financial Condition

Item 2.02 Results of Operation and Financial Condition

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits ____________________________________________________________________________________________________________

02 Results of Operation and Financial Condition

Item 2.02 Results of Operation and Financial Condition A press release announcing third quarter 2024 results was made October 24, 2024 and a copy of the release is being furnished as Exhibit 99.0 in this current report. ____________________________________________________________________________________________________________

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.0 Press Release: Data I/O Reports Third Quarter 2024 Results SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Data I/O Corporation October 24, 2024 By: /s/ Gerald Y. Ng Gerald Y. Ng Vice President and Chief Financial Officer Exhibit 99.0 Data I/O Reports Third Quarter 2024 Results CEO Transition Taking Shape with Focus on Customer Experience, Filling out Product Portfolio, and Market Diversification with Enhanced Go-to-Market Strategies Continued Operating Efficiencies and Expense Discipline Redmond, WA – October 24, 2024 -- 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 third quarter ended September 30, 2024. Management Comments William Wentworth was appointed CEO of Data I/O Corporation on October 1, 2024. Commenting on his view of the Company, Mr. Wentworth said, "I am excited to have been appointed to lead Data I/O given the substantial market opportunities that set the stage for heightened value creation for our customers, business partners and shareholders. This is possible because of the impressive building blocks in place with the Company. We intend to leverage our technology platform, our significant intellectual property portfolio and our highly experienced engineering team. "During this transitional time, our team is thoroughly engaged in defining the future direction of the Company to drive growth and implement transformative strategies for Data I/O to become a higher value supply chain partner. The focus over the last month has been assessing our strengths and weaknesses while visiting our customers and business partners. Our f

View Full Filing

View this 8-K filing on SEC EDGAR