Smith Micro Software Inc Stock Price, News & Analysis

Smith Micro Software (NASDAQ: SMSI) announced a contract termination from a Tier 1 carrier customer for its family safety solution, effective June 30, 2023. While the company will continue delivering services for up to 180 days after the termination, it expresses disappointment over the unexpected notice. To mitigate impacts, Smith Micro plans to reallocate resources to other Tier 1 customers and accelerate cost-saving initiatives to align its cost structure. The company assures it remains committed to fulfilling obligations under the contract while focusing on growth and profitability.

Smith Micro Software (SMSI) will participate in MWC Barcelona from February 27 to March 2, 2023, showcasing its innovative SaaS platforms, including SafePath® and ViewSpot®. These solutions aim to enhance customer engagement and drive revenue for mobile network operators. Key executives attending include Von Cameron and Jonas Jacobsson. The company seeks to expand through new partnerships and potential mergers and acquisitions. Visitors can find Smith Micro in Meeting Room 2L4MR, Hall 2, and schedule meetings via email or their website. For more information, visit smithmicro.com.

Smith Micro Software, Inc. (NASDAQ: SMSI) has secured a new contract with a Tier 1 mobile network operator in the U.S. to deliver its digital family safety solutions, replacing a previous agreement. The updated terms focus on enhancing parental controls and location services. CEO William W. Smith Jr. expressed optimism about the partnership's potential to improve customer experiences. The solutions include features like on-demand tracking, location history, and content filtering, aimed at enriching family digital lifestyles. This development strengthens Smith Micro's position in the market and enhances its collaboration with major service providers.

Smith Micro Software (NASDAQ: SMSI) announced its participation in the Benchmark Company's 11th Annual Discovery One-on-One Investor Conference on December 1, 2022, at the New York Athletic Club. The event will feature one-on-one meetings between Smith Micro and institutional analysts and investors, facilitating direct engagement. This conference aims to connect emerging public companies with investors, providing a platform for growth opportunities. Interested parties can register for appointments via the provided link.

Smith Micro Software, Inc. (NASDAQ: SMSI) reported third quarter financial results for 2022, posting revenues of $11.7 million, down from $16.4 million in Q3 2021. Gross profit decreased to $8.1 million from $12.8 million, reflecting a 69% gross margin, compared to 78% in the prior year. The company recorded a GAAP net loss of $7.3 million, improved from $18.6 million lost last year. Year-to-date revenue stood at $37.1 million, declining from $43.7 million in the same period in 2021. Cash and cash equivalents were $19.0 million as of September 30, 2022.

Smith Micro Software, Inc. (NASDAQ: SMSI) announced it will report its third quarter 2022 financial results after market close on November 9, 2022. A teleconference is scheduled for 4:30 PM ET to discuss the results. Investors can access the call by dialing 1-844-701-1164 or through an internet webcast. The news release will be available in the Smith Micro Newsroom. This announcement is part of Smith Micro's commitment to transparency for shareholders regarding its financial performance.

Smith Micro Software (SMSI) reported Q2 2022 results with revenues of $12.7 million, down from $15.9 million in Q2 2021. Gross profit also declined to $9.1 million (71% of revenue) compared to $12.6 million (79% of revenue) a year prior. The company faced a GAAP net loss of $8.5 million, or $0.15 per share, worse than a $5.2 million loss a year ago. Non-GAAP net loss stood at $5.1 million. The firm plans to reduce operating expenses significantly in the upcoming quarters as it nears completion of integrating recent acquisitions.