Smith Micro Software Inc Stock Price, News & Analysis

Smith Micro reported Q1 2021 financial results, posting $11.4 million in revenue, down from $13.3 million in Q1 2020. Gross profit decreased to $9.8 million, with a margin of 86% compared to 91% in the prior year. The company experienced a GAAP net loss of $3.2 million ($0.07 per share), contrasting with a net income of $2.0 million in Q1 2020. Non-GAAP net income was $700 thousand ($0.02 per share), down from $4.1 million ($0.10 per share). Cash and cash equivalents stood at $89.2 million as of March 31, 2021.

Smith Micro Software, Inc. (NASDAQ: SMSI) will announce its first quarter 2021 financial results after the market closes on May 5, 2021. Following the announcement, a teleconference will be held at 4:30 PM ET/1:30 PM PT for interested parties. Access details for the call include a dial-in number for U.S. participants and an international option, with no passcode required. The conference call results will be available for replay on the company's Investor Relations section.

Smith Micro Software has successfully completed the acquisition of Avast plc’s Family Safety Mobile business for approximately $66 million. This significant move, the largest acquisition in the company’s history, positions Smith Micro as a leader in mobile family safety solutions for wireless carriers. With the addition of key services such as location tracking, content filtering, and screen time management, the acquisition enhances Smith Micro's SaaS offerings globally and expands its workforce in the U.S. and Europe.

Smith Micro Software (NASDAQ: SMSI) has announced that Boost Mobile will include its Premium Visual Voicemail (PVVM) service in the new Privacy Premium offering. This service, powered by Smith Micro's CommSuite® platform, enhances voicemail management with secure voice-to-text transcription and email forwarding options. PVVM is priced at $5.99 per month and is available for compatible Android devices. CEO William W. Smith emphasized the importance of digital privacy and streamlined user experience. The Privacy Premium offering also includes Secure Wi-Fi and Call Screener Premium features.

Smith Micro Software announced the closing of a public offering of 9,520,787 shares, generating gross proceeds of approximately $65.2 million before expenses. The company plans to utilize the funds for acquiring Avast's Family Safety Mobile Software Business and general corporate needs. Underwriters have a 30-day option to purchase an additional 1,428,118 shares. The offering was managed by B. Riley Securities and Roth Capital Partners, with legal counsel from Buchanan Ingersoll & Rooney PC and Sheppard, Mullin, Richter & Hampton LLP.

Smith Micro Software announced a follow-on public offering of 9,520,787 shares at $6.85 each, with a gross proceeds estimate of $65.2 million. The offering is aimed at funding the acquisition of Avast's Family Safety Mobile Software Business and general corporate purposes. An additional 1,428,118 shares may be purchased by the underwriter to cover over-allotments. The offering is expected to close on March 15, 2021. B. Riley Securities and Roth Capital Partners are the joint book-running managers for the offering.

Smith Micro is set to acquire Avast's Family Safety Mobile Business for $66 million, aiming to enhance its position in the family mobile software sector. This acquisition will integrate Avast's parental control services, including location tracking and content filtering, positioning Smith Micro as a leader in the carrier industry.

The deal, expected to close in mid-April 2021, will also facilitate a strategic partnership for future collaborations in cybersecurity and digital privacy solutions.

Smith Micro Software (SMSI) has announced a $62 million underwritten public offering of its common stock. The proceeds will primarily fund the acquisition of Avast's Family Safety Mobile Software Business and for general corporate purposes. In addition, the underwriters have a 30-day option to purchase an extra 15% of shares to cover over-allotments. B. Riley Securities and Roth Capital Partners are the joint book-running managers for this offering. The relevant prospectus has been filed with the SEC and is available online.

Smith Micro Software, Inc. (NASDAQ: SMSI) announced its fourth quarter and fiscal year 2020 results, achieving an 18% year-over-year revenue growth, totaling $51.3 million. The fourth quarter revenue was $12.4 million, slightly up from $12.3 million in Q4 2019. However, GAAP net income fell to $580,000 ($0.01 per share) from $3.7 million ($0.09 per share) a year earlier. The company reported a gross profit margin of 90% for the year, down from 91% in 2019, while generating $7.9 million in cash from operations. Smith Micro will discuss these results in an investor conference call today.