Data I/O Announces Preliminary Fourth Quarter and Full Year 2023 Results

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 preliminary financial results for the fourth quarter and full year ended December 31, 2023. Select financial performance parameters are being disclosed ahead of the Company’s non-deal roadshow (“NDR”) with WestPark Capital, Inc. scheduled for January 30, 2024. WestPark Capital, Inc., a full-service investment bank and brokerage firm, maintains research coverage of Data I/O. The Company will also be participating in the A.G.P. Virtual Technology Conference scheduled for February 7, 2024. An investor presentation including the preliminary results announced today will be filed on Form 8-K with the Securities and Exchange Commission and will be available on the investor relations section of the Company’s website on January 30, 2024.

Preliminary Fourth Quarter and Full Year 2023 Results

• Net sales of $6.8 million and bookings of $7.2 million for the quarter
• Net sales of $28 million for the year
• 23 new customer wins in 2023
• Automotive Electronics represented 63% of bookings

Management Comments

Commenting on the preliminary fourth quarter results ended December 31, 2023, Anthony Ambrose, President and CEO of Data I/O Corporation, said, “The Company ended the year on a high note. As we indicated in our remarks in early 2023, we anticipated double digit revenue growth for the year, and we delivered 16% top line growth for the year. Our largest market, automotive electronics, represents over 60% of our business, and shows continued long term potential with analysts estimating automotive silicon content to be growing 10-15% per year through this decade.

“We look forward to sharing our exciting story and catalysts for ongoing growth and financial performance improvements with investors. The Company expects to report full financial results and conduct a conference call for the fourth quarter ended December 31, 2023 on February 22, 2024. Details for the conference call to discuss fourth quarter results will be announced on February 8^th.”

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 programming solutions and security deployment platform to secure the global electronics supply chain and protect IoT 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 dataio.com/Company/Patents.