Last10K.com

Smith Micro Software, Inc. (SMSI) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

SEC Filings

SMSI Quarterly Reports

Smith Micro Software Inc

CIK: 948708 Ticker: SMSI

Exhibit 99.1
gnyzmd4ldoop000001.jpg
IR INQUIRIES:
Charles Messman
Investor Relations
949-362-5800
IR@smithmicro.com
Smith Micro Reports Second Quarter 2022 Financial Results
PITTSBURGH, PA, August 11, 2022
– Smith Micro Software, Inc. (NASDAQ: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its second quarter ended June 30, 2022.
“During the second quarter, we made significant progress on several key milestones related to the integration of our prior acquisitions of our two largest competitors. The consolidation of the best features and functionality of each solution into our Digital Family Lifestyle™ Platform has required a substantial investment since their respective acquisitions. I am very pleased that we are quickly approaching the completion of this mission,” said William W. Smith, Jr., President, CEO and Chairman of the Board of Smith Micro.

“With these efforts nearing completion, we expect to move forward with significant reductions in our operating expenses, starting in the third quarter, and accelerating through the remainder of the fiscal year, as we streamline our expenses to return back to more historical levels.”

“We see the enormous opportunity in front of us, not only with the Big 3 Tier 1 mobile operators in the US, but other Tier 1 operators in Europe, and elsewhere around the world, as we move to our next phase of growth on a single platform,” concluded Mr. Smith.
Second Quarter 2022 Financial Results
Smith Micro reported revenue of $12.7 million for the quarter ended June 30, 2022, compared to $15.9 million reported in the quarter ended June 30, 2021.
Gross profit for the quarter ended June 30, 2022 was $9.1 million, compared to $12.6 million for the quarter ended June 30, 2021.
Gross profit as a percentage of revenue was 71 percent for the quarter ended June 30, 2022, compared to 79 percent for the quarter ended June 30, 2021.
GAAP net loss for the quarter ended June 30, 2022 was $8.5 million, or $0.15 loss per share, compared to GAAP net loss of $5.2 million, or $0.10 loss per share, for the same period in 2021.
Non-GAAP net loss for the quarter ended June 30, 2022 was $5.1 million, or $0.09 loss per share, compared to non-GAAP net loss of $0.3 million, or $0.01 loss per share, for the quarter ended June 30, 2021. Non-GAAP net loss excludes stock-based compensation, amortization of intangible assets, personnel severance and reorganization activities, and acquisition costs.


The following information was filed by Smith Micro Software Inc (SMSI) on Thursday, August 11, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Smith Micro Software Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Smith Micro Software Inc.

Continue

Assess how Smith Micro Software Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Smith Micro Software Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Revenue
M & A
Financial
Other
Filter Subcategory:
All
Product
Expense
Earnings
Other
Inside Smith Micro Software Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Accounting Policies
Accounting Policies (Policies)
Commitments And Contingencies
Credit Facility
Credit Facility - Additional Information (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Details Of Basic And Diluted Earnings Per Share (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Components Of Intangible Assets (Detail)
Goodwill And Intangible Assets - Estimated Future Amortization Expense (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Leases
Leases (Tables)
Leases - Summary Of Additional Information Relating To Company's Operating Leases (Detail)
Leases - Summary Of Maturity Of Operating Lease Liabilities (Detail)
Leases - Summary Of Operating Lease Cost (Detail)
Revenues
Revenues (Tables)
Revenues - Schedule Of Revenues On Disaggregated Basis (Detail)
Segment, Customer Concentration And Geographical Information
Segment, Customer Concentration And Geographical Information (Tables)
Segment, Customer Concentration And Geographical Information - Additional Information (Detail)
Segment, Customer Concentration And Geographical Information - Company Revenue In Different Geographic Locations (Detail)
Segment, Customer Concentration And Geographical Information - Wireless Revenues By Product (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Employee Stock Purchase Plan (Details)
Stock-Based Compensation - Non-Cash Stock-Based Compensation Expense (Details)
Stock-Based Compensation - Stock Plans (Detail)
Stock-Based Compensation - Summary Of Outstanding Stock Options (Details)
Stock-Based Compensation - Summary Of Restricted Stock Awards Outstanding (Details)
Subsequent Events
Subsequent Events (Details)
The Company
Ticker: SMSI
CIK: 948708
Form Type: 10-Q Quarterly Report
Accession Number: 0000948708-22-000022
Submitted to the SEC: Fri Aug 12 2022 2:20:36 PM EST
Accepted by the SEC: Fri Aug 12 2022
Period: Thursday, June 30, 2022
Industry: Prepackaged Software

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/smsi/0000948708-22-000022.htm