The following is a summary of the Data I/O Corporation (DAIO) Q4 2023 Earnings Call Transcript:
Financial Performance:
Data I/O Corporation saw a 16% increase in revenue, with a total sales revenue of $28.1 million for 2023, up from the previous year.
Gross margins for the year stood at roughly 58%, up by 3 percentage points due to higher sales volume and operational efficiency improvements.
Inventory declined by about $900,000, and there was an increase in cash by approximately $830,000 for the year, showing operating profitability, smart inventory management, and spending controls.
Adjusted EBITDA increased to $2.3 million for the year, up over $1 million from the previous year, with positive net income.
Q4 ended with a strong financial scorecard, having $12.3 million in cash - an increase of $831,000 from the previous year - and working capital at $18.4 million, an increase by $846,000.
The company reported a net income of $144,000 for Q4 and $486,000 for the total year.
Business Progress:
The automotive market represented over 63% of total bookings in 2023, with more than 20 new customer wins across all segments.
Their PSV programming platform now boasts over 485 deployments globally, and the SentriX software saw a growth rate of 150% in revenue for 2023 compared to 2022.
Year 2024 will see a continued focus on growth, specifically in the automotive, industrial, and programming center markets worldwide.
Through strategic partnerships and collaborations, the company has added many opportunities in its sales funnel, predicting a strong growth heatmap for 2024.
A key strategy for 2024 includes initiatives for improving the bottom-line, including material cost reductions and logistics improvements.
More details: Data I/O IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.