Smith Micro Software Inc (SMSI) 10-Q Quarterly Report October 2018

“I am overall pleased with the quarter that came in line with our expectations,” said William W. Smith Jr., President and CEO of Smith Micro Software. “Revenues increased over the prior year, and we again achieved operating profitability during the quarter.”

“During the first nine months of this fiscal year, we have made tremendous strides throughout the organization, particularly with the product enhancements that we plan to launch in the fourth quarter. We remain focused on optimizing performance and driving revenue on our core product platforms, SafePath® and CommSuite®, so that we can finish the year strong and maximize 2019 opportunities.”

Fiscal Third Quarter 2018 Financial Results:

Smith Micro Software reported revenue of $6.5 million for the third quarter ended September 30, 2018, compared to $5.8 million reported in the third quarter ended September 30, 2017.

Third quarter 2018 gross profit was $5.5 million, compared to $4.6 million reported in the third quarter of 2017.

Gross profit as a percentage of revenue was 85 percent for the third quarter of 2018, compared to 80 percent for the third quarter of 2017.

The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, October 24, 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-Q Quarterly 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-Q Quarterly Report:

Revenue - Product Highlight
This Quarterly Report on Form 10-Q ("report") contains forward-looking statements regarding Smith Micro which include, but are not limited to, statements concerning our ability to remain a going concern, our ability to raise more funds, customer concentration, projected revenues, expenses, gross profit and income, the competitive factors affecting our business, market acceptance of products, the success and timing of new product introductions, and the protection of our intellectual property.

Revenue - Product Highlight
We received net proceeds of approximately $10.7 million from the sale of our common stock in two private placements, which was partially offset by payments of $1.0 million of related party notes payable and $0.4 million of dividends on preferred stock.
Financial - Expense Highlight
Selling and marketing expenses were $4.5 million and $4.7 million for the nine months ended September 30, 2018 and 2017, respectively, representing a decrease of $0.2 million, or 3.8%.
Other - Other Highlight
Therefore, our actual results could differ materially and adversely from those expressed or implied in any forward-looking statements as a result of various factors, and investors should not place undue reliance on forward-looking statements as a prediction of actual results.
Financial - Expense Highlight
Research and development expenses were $6.5 million and $6.8 million for the nine months ended September 30, 2018 and 2017, respectively, representing a decrease of $0.3 million, or 4.0%.
Financial - Expense
This decrease was primarily due...Read more
Revenue - Product
Wireless revenue of $6.3 million...Read more
Revenue - Product
Wireless revenue of $17.6 million...Read more
Revenue - Product
Revenues were $6.5 million and...Read more
Revenue - Product
Revenues were $18.9 million and...Read more
Financial - Expense
The primary uses of operating...Read more
Financial - Expense
This decrease was primarily due...Read more
Other - Other
With the exception of historical...Read more
Other - Other
Over the past three decades,...Read more
Revenue - Product
This usage was partially offset...Read more
Revenue - Product
This usage was partially offset...Read more
Other - Other
The amortization of intangible assets...Read more
Other - Other
The amortization of intangible assets...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

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-Q Quarterly Report
Accession Number: 0001564590-18-025261
Submitted to the SEC: Fri Oct 26 2018 12:06:33 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Prepackaged Software

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Smith Micro Software, Inc (SMSI) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

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