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, 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.
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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.
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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.
Smith Micro Software, Inc. (NASDAQ: SMSI) announced two offerings expected to generate gross proceeds of $18 million. This includes $15 million from a private placement of senior secured convertible notes and $3 million from a registered direct offering of common stock. The convertible notes have a conversion price of $3.35 per share and associated warrants. The proceeds will be used for general corporate and working capital purposes. The offerings are expected to close around August 12, 2022.
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.