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) announces the resignation of CFO Tim Huffmyer, who will assist in the transition for the next seven weeks. Huffmyer expressed confidence in the company’s future success. The board has initiated a search for a new CFO, engaging a national executive search firm to aid in the process. President and CEO William W. Smith, Jr. acknowledged Huffmyer's contributions during his tenure. Smith Micro, known for software solutions enhancing mobile experiences for leading wireless providers, continues to focus on innovation and customer engagement.
Smith Micro Software will co-host an analyst-led webinar on July 13, 2021, titled Smartphones: Dangerous Distraction or Driver Safety Companion?. The webinar aims to discuss findings from Smith Micro’s recent Distracted Driving Survey, emphasizing parental concerns about teen driver safety and how technology can aid in teaching safe driving habits. The event features speakers Eytan Urbas, Vice President of Corporate Strategy, and Steve Bell, Principal Analyst and Director at Wards Intelligence. Parents' willingness to use driver safety monitoring technology will be a key topic.
Smith Micro Software will participate in the Needham & Company 16th Annual Virtual Technology & Media Conference from May 17 – 20, 2021. Company executives, including CEO William W. Smith, Jr., CFO Timothy Huffmyer, and VP Charles Messman, will present on May 17 from 10:15 – 10:55 am ET. A live audio webcast will be available at this link, along with an archived replay on the Investor Relations page. For further details, visit the conference page.
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.
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