Data I/O Reports Fourth Quarter 2024 Results

About this update from Data I/o Corporation

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 pr...

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