Smith Micro Executes New Digital Family Safety Contract with Tier 1 U.S. Mobile Network Operator

Rhea-AI Summary

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.

Positive

• Secured a new contract with a Tier 1 U.S. mobile operator, enhancing business relationships.
• The agreement includes improved digital family safety solutions, expanding market offerings.
• Features like location services and parental controls cater to a growing demand in family-oriented technology.

Negative

• None.

PITTSBURGH--(BUSINESS WIRE)-- (Nasdaq: SMSI), Smith Micro Software, Inc., today announced that the Company has entered into a new contract with a leading mobile network operator in the U.S. to continue to provide digital family safety solutions. The contract replaces the prior agreement that the two entities had in place with new, mutually agreed terms for Smith Micro’s delivery of its market-leading digital family safety solution that includes parental controls and location services.

“We are very pleased to have executed this new agreement with a well-positioned Tier 1 mobile network operator and are excited for the opportunity it presents for both companies to continue our strong partnership and shared focus on improving the experience for their customers,” said William W. Smith Jr., President and CEO of Smith Micro.

The digital family safety solution currently deployed to this Tier 1 mobile operator provides subscribers with access to location service features like on-demand tracking, location history and arrival/departure alerts in addition to digital parenting tools like content filtering, web and app activity, as well as the ability to turn off the internet on a child's phone at specific times such as bedtime.

About Smith Micro Software, Inc.

Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers and cable MSOs around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, our solutions enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. For more information, visit www.smithmicro.com.

Smith Micro and the Smith Micro logo are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective owners.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements regarding future events or results within the meaning of the Private Securities Litigation Reform Act, including statements related to our financial prospects, anticipated growth, other projections of our outlook or performance and our future business plans, and the benefits that we believe our solution will offer to our customer and its end users, and statements using such words as “expect,” “anticipate,” “believe,” “plan,” “intend,” “could,” “will” and other similar expressions. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the important factors that could cause or contribute to such differences are customer concentration, given that the majority of our sales depend on a few large customer relationships, delay or failure of our customers to accept and deploy our products and services or new or upgraded versions thereof, delay or failure of our customers’ end users to adopt our products and services or new or upgraded versions thereof, the impact of the COVID-19 pandemic on our business and financial results, changes in demand for our products from our customers and their end-users, changes in requirements for our products imposed by our customers or by the third party providers of software and/or platforms that we use, our ability to effectively integrate, market and sell acquired product lines, new and changing technologies, customer acceptance and timing of deployment of those technologies, our ability to compete effectively with other software and technology companies, and the existence and terms of our convertible notes and related agreements, including that they may restrict our ability to obtain additional financing, and adversely affect our business, financial condition and cash flows from operations in the future. These and other factors discussed in our filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management, and we do not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005127/en/

PR INQUIRIES:

Paula Yurkovich

Smith Micro Software

+1 (412) 260-1259

pr2@smithmicro.com

IR INQUIRES:

Charles Messman

Smith Micro Software

+1 (949) 362-5800

IR@smithmicro.com

Source: Smith Micro Software, Inc.

FAQ

What did Smith Micro Software announce recently?

Smith Micro Software announced a new contract with a Tier 1 mobile network operator in the U.S. for digital family safety solutions.

What are the key features of Smith Micro's digital family safety solution?

The solution includes parental controls, location services, on-demand tracking, location history, and content filtering.

How does the new contract affect Smith Micro's business?

The new contract strengthens Smith Micro's partnership with a leading operator and expands its market presence in digital safety solutions.

What is the stock symbol for Smith Micro Software?

The stock symbol for Smith Micro Software is SMSI.