Smith Micro Software Inc (SMSI) 10-K Annual Report March 2018

“I’m encouraged by the positive strides we made as a company in Fiscal 2017,” said William W. Smith, Jr., President and CEO of Smith Micro Software. “Building off our 2016 restructuring, we achieved some significant milestones, which included the launch of our SafePath^® Family platform with a Tier 1, U.S.-based carrier, and the implementation of significant product enhancements across our portfolio, all of which we expect to contribute to 2018 revenue growth.

“We are entering 2018 with momentum. The company is well-capitalized and ready to maximize the significant revenue opportunities that lay ahead. As such, I expect to see revenues build throughout 2018, which will return us to positive cash flow and profitability.”

Fiscal Fourth Quarter 2017 Financial Results:

Smith Micro Software reported revenue of $5.7 million for the fourth quarter ended December 31, 2017, compared to $7.1 million reported in the fourth quarter ended December 31, 2016.

Fourth quarter 2017 gross profit was $4.4 million, compared to $5.3 million reported in the fourth quarter of 2016.

Generally accepted accounting principles in the United States (“GAAP”) gross profit as a percentage of revenue was 76 percent for the fourth quarter of 2017, compared to 75 percent for the fourth quarter of 2016.

The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, March 14, 2018 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Smith Micro Software Inc's 10-K Annual Report:

Financial - Income Highlight
Subsequent to the end of the measurement period or the Companys final determination of the value of the tax allowance or contingency, whichever comes first, changes to these uncertain tax positions and tax-related valuation allowances will affect the provision for income taxes in the consolidated statement of operations, and could have a material impact on results of operations and financial position.

Revenue - Product Highlight
Sales directly to end users are recognized upon shipment.
Revenue - Product Highlight
Within each of these groups, software revenue is recognized based on the customer and contract type.
Revenue - Product Highlight
Revenue declines for two consecutive years, including a decline of 32% of revenue from the Companys largest customer, in fiscal year 2016 compared to fiscal year 2015.
Other - Other Highlight
In 2017, net cash used in operating activities was $7.4 million primarily due to our net loss adjusted for non-cash items of $4.2 million, decreases of accounts payable and accrued liabilities of $2.9 million, and an increase in accounts receivable of $0.4 million.
Revenue - Product
During fiscal year 2017, we...Read more
Financial - Cash Flow
Negative cash flow from operating...Read more
Other - Other
This usage was partially offset...Read more
Other - Other
2017-11 is effective for annual...Read more
Other - Other
In connection with preparing consolidated...Read more
Other - Other
In connection with preparing its...Read more
Financial - Income
Provision for income tax expense...Read more
Financial - Income
Provision for income tax expense...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Smith Micro Software Inc provided additional information to their SEC Filing as exhibits

Exhibit 10.6.1: Material Contract

Exhibit 10.20.2: Material Contract

Exhibit 10.24.2: Material Contract

Exhibit 10.25.2: Material Contract

Exhibit 21.1: Subsidaries Of The Registrant

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: SMSI
CIK: 948708
Form Type: 10-K Annual Report
Accession Number: 0001564590-18-007263
Submitted to the SEC: Fri Mar 30 2018 4:28:17 PM EST
Accepted by the SEC: Fri Mar 30 2018
Period: Sunday, December 31, 2017
Industry: Prepackaged Software

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Smith Micro Software Inc (SMSI) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

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