Smith Micro Software Inc Stock Price, News & Analysis

Smith Micro Software will release its second quarter 2022 financial results on August 11, 2022, after market close. A live teleconference will take place at 4:30 PM ET where key financial metrics and business updates will be discussed. Participants can join the call by dialing 1-844-701-1164 or through the internet webcast available on the company's website. This event is pertinent for investors monitoring SMSI as they assess the company's performance in a competitive market.

Smith Micro Software has appointed Von Cameron as Chief Revenue Officer, bringing over 30 years of experience in technology sales. Cameron aims to enhance customer acquisition and drive sales strategies, focusing on mobile carrier market growth. Previously at Smith Micro from 2008 to 2013, he has also held roles at prestigious firms like Oracle and Booz Allen. CEO William W. Smith, Jr. highlights Cameron's extensive talent as vital for achieving aggressive growth goals. Cameron aims to strengthen existing carrier relationships and expand global sales reach for Smith Micro.

Smith Micro Software, Inc. (NASDAQ: SMSI) reported its first-quarter results for 2022, revealing revenues of $12.7 million, an increase from $11.4 million in Q1 2021. However, gross profit decreased to $9.1 million with a gross profit margin of 71%, down from 86% year-over-year. The company recorded a GAAP net loss of $7.0 million or $0.13 loss per share, worsening from a $3.2 million loss in the previous year. Non-GAAP net loss stood at $4.3 million, contrasting with a non-GAAP net income of $0.7 million in the same period last year.

Smith Micro Software, Inc. (NASDAQ: SMSI) announces it will report its first quarter 2022 financial results after market close on May 4, 2022. A teleconference for interested parties will be held at 4:30pm ET / 1:30pm PT, accessible via a dial-in or internet webcast. The details for replaying the conference call will also be provided. Smith Micro specializes in software solutions that enhance the mobile experience for wireless service providers and cable providers.

Smith Micro Software, Inc. (NASDAQ: SMSI) has appointed two experienced leaders to its Board of Directors: Asha Keddy, a corporate Vice President at Intel, and Chetan Sharma, CEO of Chetan Sharma Consulting. Both bring extensive expertise in technology and strategic execution, expected to enhance the company’s focus on mobile technology and innovation. Keddy's leadership in 5G advancements and Sharma's advisory role in the wireless sector are anticipated to significantly impact the company's direction and performance.

Smith Micro Software has entered into a secured revolving credit facility with Wells Fargo Bank, granting up to $7.0 million to support working capital and corporate needs. This one-year credit line may be renewed and aims to enhance financial flexibility for ongoing research and development and product implementations, particularly for the SafePath 7 Family Safety platform. The company emphasizes the importance of this agreement for its operations in the telecommunications sector.

Smith Micro Software, Inc. (NASDAQ: SMSI) announced the launch of a new version of its family-safety application, powered by the SafePath® 7 platform, at a Tier 1 wireless carrier. This enhanced application provides advanced features such as robust parental controls, real-time location services, and app evasion functionality. The mobile app is available on iOS and Android and offers functionalities including location tracking, internet access filtering, and screen time management. This milestone strengthens Smith Micro's position in the digital family safety space and opens opportunities for further deployments with other Tier 1 carriers.

Smith Micro Software, Inc. (NASDAQ: SMSI) reported a revenue increase to $14.7 million in Q4 2021 from $12.4 million in Q4 2020. However, gross profit decreased to $10.6 million compared to $11.0 million year-over-year. The company's GAAP net loss for Q4 2021 was $4.0 million, a downturn from a $0.6 million net income in Q4 2020. For fiscal year 2021, revenue rose to $58.4 million from $51.3 million, but a significant GAAP net loss of $31.0 million was noted, compared to a net income of $4.2 million in 2020. Cash and cash equivalents totaled $16.1 million.

Smith Micro Software, listed under NASDAQ: SMSI, will report its fourth quarter and fiscal year 2021 financial results on March 10, 2022, after market close. A teleconference to discuss these results will begin at 4:30 PM ET. Interested parties can access the conference call by dialing 1-844-701-1164 or through an internet webcast. The release will be available on Smith Micro's Newsroom.