Smith Micro Software Inc (SMSI) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Exhibit 99.1

Smith Micro Reports Fourth Quarter and Fiscal Year 2015 Financial Results

Achieves non-GAAP Profitability in the Fourth Quarter

ALISO VIEJO, CA, March 8, 2016

“Revenue for the fourth quarter was $10.0 million and we were profitable on a non-GAAP basis,” said William W. Smith Jr., President and CEO of Smith Micro Software. “In 2015, we were able to increase revenues seven percent year over year to $39.5 million, increase gross profit 13 percent, decrease non-GAAP operating expenses by 11 percent, and hold cash and cash equivalents essentially flat for the year.”

“We worked hard in 2015 to engage significant new customers, and we signed multiple new deals in the fourth quarter that included a North America wireless carrier, our second MSO/cable company, and a well-known handset OEM, all using our NetWise solution. We anticipate these new agreements will begin to ramp by mid-year, which will help offset the decreased revenue we expect from Sprint as a result of their cost cutting measures,” Mr. Smith concluded.

Fiscal Fourth Quarter 2015 Financial Results:

Smith Micro reported revenues of $10.0 million for the fourth quarter ended December 31, 2015, compared to $10.6 million reported in the fourth quarter of 2014.

Fourth quarter 2015 gross profit on both a GAAP and non-GAAP basis (which excludes stock compensation) was $8.0 million, compared to $8.3 million reported in the fourth quarter of 2014.