Welcome to our dedicated page for Smith Micro Software news (Ticker: SMSI), a resource for investors and traders seeking the latest updates and insights on Smith Micro Software stock.
Smith Micro Software, Inc. develops mobile software for wireless service providers, with news centered on its SafePath family digital lifestyle platform, SafePath OS deployments for phones, and voice messaging capabilities for mobile subscribers. Company updates also cover product launches for carrier-grade, white-label safety and connected-device services delivered through smartphones and consumer IoT devices.
Recurring SMSI news includes quarterly and annual financial results, teleconference announcements, capital-structure actions, resale registration statements tied to previously issued warrants and convertible notes, and governance matters. These developments reflect a software business focused on mobile operators, cable operators, family safety features, parental controls, location services, screen-time management, driver monitoring, and premium messaging.
Smith Micro Software (NASDAQ: SMSI) will participate in the Needham & Company 23rd Annual Growth Conference from January 11-15, 2021. The company's President and CEO William W. Smith, Jr., CFO Timothy Huffmyer, and VP of Investor Relations Charles Messman will present virtually on January 12 from 2:45 to 3:25 pm Eastern Time. A live audio webcast and archived replay will be available on the Investor Relations page. For conference details, visit Needham's site.
Smith Micro Software divested its Moho 2D animation software line to Lost Marble LLC, founded by the original creator of Moho and an animator from Cartoon Saloon. This strategic move allows Smith Micro to focus entirely on their wireless solutions: SafePath, CommSuite, and ViewSpot. CEO William W. Smith, Jr. stated that the divestiture is beneficial for all parties, enabling Lost Marble to continue the Moho legacy while enhancing Smith Micro's profitability in its core business areas. The company continues to develop software that enriches mobile experiences.
Smith Micro, a software company headquartered in Pittsburgh, develops solutions for enhancing the mobile experience for wireless service providers and cable MSOs globally. Their portfolio includes products for voice messaging, digital engagement, and content monetization. Smith Micro aims to simplify the digital lifestyle for families while providing analytics and optimization tools for retail content displays.
Smith Micro Software announced the launch of SafePath Drive, a smartphone-based driver safety solution. This innovative tool detects risky driving behaviors such as acceleration and speeding, providing features like collision detection and personalized driver scores. Designed as a white-label product for wireless carriers, it strengthens the existing SafePath Family application, which includes location services and parental controls. By offering SafePath Drive, Smith Micro aims to enhance family safety and assist parents in monitoring their loved ones' driving habits.
Smith Micro Software (NASDAQ: SMSI) announced its third-quarter 2020 financial results, reporting revenues of $12.6 million, a rise from $11.8 million in Q3 2019. Gross profit increased to $11.3 million, representing 90% of revenue. However, GAAP net income decreased to $161,000 or $0.00 per diluted share, down from $3.5 million or $0.09 per diluted share year-over-year. Non-GAAP net income for Q3 2020 was $1.8 million, or $0.04 per share, compared to $4.2 million, or $0.11 per share in Q3 2019. Smith Micro remains cash-flow positive, generating $8 million in cash so far in 2020.
Smith Micro Software has launched a significant upgrade to its Connected Digital Lifestyle platform with SafePath 7, enhancing functionalities such as robust parental controls and new location features. Key upgrades include real-time tracking, age-based content filters, and support for children's wearables. This release not only strengthens the SafePath platform but also offers wireless carriers a comprehensive solution for family safety. It aims to meet the growing digital parenting needs of modern families, aligning with the increasing importance of internet connectivity and smart devices.
Smith Micro Software will report its Q3 2020 financial results after market close on November 4, 2020. The announcement will be followed by a teleconference at 4:30 PM ET, which is open to all interested parties. To participate, dial 1-844-701-1164 or +1 412-317-5492 for international calls. No passcode is necessary. Interested listeners can access the results through Smith Micro’s News Room and can also tune in to a live web broadcast of the call. A replay will be available on their Investor Relations section.