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) is a renowned provider of innovative software solutions catering to the mobile world. With a focus on addressing critical business challenges, Smith Micro collaborates with leading global wireless service providers, cable/MSOs, and mobile device and chipset manufacturers. The company's core competencies lie in developing modular, multi-platform wireless solutions such as SafePath, CommSuite, and ViewSpot.
Smith Micro's wireless solutions are designed to enhance the quality of experience for mobile users by optimizing connectivity, facilitating policy-on-device control, and providing analytics-driven insights. These solutions empower enterprises, brands, and communication service providers to engage with their subscribers in a more personalized and effective manner.
In addition to wireless solutions, Smith Micro is a leader in graphics software, offering a range of products for animators, illustrators, graphic designers, and students. These tools are instrumental in creating rich, animated content such as cartoons, films, and motion comics, contributing to the vibrant media market.
Smith Micro's financial health and operational efficiency are reflected in its continued partnerships with large wireless carriers, cable operators, and OEMs. The company remains committed to innovating and delivering top-notch software solutions that meet the evolving needs of the mobile-first global society.
Recent Achievements and Current Projects:
- Partnerships with major global wireless carriers to enhance connectivity solutions.
- Launch of new features in the SafePath platform, aimed at improving family safety and security.
- Continued development of CommSuite to offer advanced voicemail and messaging services.
- Expansion of ViewSpot to provide better in-store mobile device engagement.
With a focus on quality and efficiency, Smith Micro Software Inc. continues to play a pivotal role in the mobile and graphics software industries, driving innovation and improving user experiences worldwide.
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.
Smith Micro Software (NASDAQ: SMSI) reported a third quarter revenue of $16.4 million, up from $12.6 million year-over-year. Gross profit increased to $12.8 million, but the margin fell to 78% from 90%. A GAAP net loss of $18.6 million or $0.34 per share was reported, contrasting with a net income of $161 thousand in Q3 2020. Non-GAAP results showed a net loss of $258 thousand versus $1.8 million income last year. Cash equivalents were $32.4 million at the end of Q3 2021. The company highlighted progress in partnerships with Tier 1 carriers and demand for family safety services.
Smith Micro Software, Inc. (NASDAQ: SMSI) will report its third quarter 2021 financial results on November 10, 2021, after market close. A teleconference will follow at 4:30 PM ET. The call is open to investors and will provide insights into the company's performance. Access details include dialing 1-844-701-1164 or joining via an internet webcast available on Smith Micro's website. For more details, visit the News Room.
Smith Micro Software (NASDAQ: SMSI) announced the appointment of James M. Kempton as Chief Financial Officer, effective November 3, 2021. Kempton, formerly with L.B. Foster Company as Corporate Controller, succeeds Michael Fox, who served as Interim CFO since September 2021. Kempton's leadership and experience are expected to strengthen Smith Micro’s financial strategies.
William W. Smith, Jr., President and CEO, expressed confidence in Kempton's ability to drive the company's growth. The transition follows the resignation of previous CFO Tim Huffmyer.
Smith Micro Software has appointed Mike Fox as the interim Chief Financial Officer following Tim Huffmyer's departure. Fox, a seasoned finance executive with over 25 years of experience, will serve in this role while the company seeks a permanent CFO. This transition comes as part of Smith Micro's ongoing efforts to enhance its leadership team amidst a challenging market. The company continues to develop innovative software solutions to improve mobile experiences, targeting leading wireless service providers and cable MSOs worldwide.
Smith Micro Software (NASDAQ: SMSI) released its second quarter financial results for 2021, reporting revenue of $15.9 million, up from $12.9 million in Q2 2020. Gross profit increased to $12.6 million, with a margin of 79%, although down from 90% year-over-year. The company reported a GAAP net loss of $5.2 million compared to a net income of $1.4 million in the prior year. Non-GAAP results showed a loss of $307 thousand against a profit of $3.0 million last year. Total cash as of June 30, 2021, was $29.9 million.
Smith Micro Software, Inc. (NASDAQ: SMSI) will report its Q2 2021 financial results on August 4, 2021, after regular trading hours. A teleconference for stakeholders is scheduled for 4:30 PM ET / 1:30 PM PT. Participants can join by dialing 1-844-701-1164 for domestic calls or +1 412-317-5492 for international calls, without needing a passcode. The call will also be available via an internet webcast at smsi.me/3kjc6Fs, and a replay will be accessible in the Investor Relations section of their website.
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