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. (Nasdaq: SMSI) develops software that supports the Digital Family Lifestyle™ and enhances the mobile experience for wireless service providers and their subscribers. The SMSI news feed on Stock Titan brings together company press releases, financial announcements, product updates, and regulatory disclosures so investors can follow how Smith Micro executes on its family safety and wireless software strategy.
Recent news highlights include the launch of SafePath OS™ for Senior Phone, a carrier-grade software solution designed to simplify technology and provide safety and connectivity for older adults. Company announcements describe features such as a large-font interface, voice-assisted support, simple onboarding, real-time location and geofences, drive and crash detection, and check-in and family SOS alerts. Earlier updates have detailed enhancements to SafePath OS™ for Kids Phone, including tamper-proof controls, app management, device restrictions, always-on VPN, content filtering, screen time tools, and geofencing.
Investors can also use this page to follow earnings releases and financial results, where Smith Micro reports revenue, gross profit, net loss, and non-GAAP performance measures for its Wireless segment. The company’s news has covered cost reduction initiatives, workforce realignments, and leadership changes aimed at adjusting its cost structure, as well as financing activities such as registered offerings, private placements, and note purchase agreements.
Because Smith Micro is closely tied to wireless service providers and digital lifestyle services, its news flow often touches on carrier partnerships, family safety offerings, and developments in its SafePath ecosystem. Bookmark this page to monitor official Business Wire releases, financial updates, and other material news items that may affect the SMSI stock narrative.
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.