Smith Micro Software Inc (SMSI) 10-Q Quarterly Report Fri Aug 02 2019

– Smith Micro Software, Inc. (NASDAQ: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its second quarter ended June 30, 2019.

“I am very pleased with the continued growth and profitability we delivered in the second quarter of 2019,” said William W. Smith, Jr., President and CEO of Smith Micro. “We saw growth across all three wireless solutions, again mostly driven by our SafePath^® platform. We also achieved another consecutive quarter of subscriber revenue growth from the CommSuite^® platform, as well as continued growth with ViewSpot™, our recent Smart Retail acquisition that closed in the first quarter.”

Mr. Smith concluded, “The outlook for the second half of 2019 is very strong. Our sales pipeline continues to grow across all three wireless solutions and, with the successful launch of our first SafePath IOT device, our product offering has strengthened and we’ve now entered a new market.”

Second Quarter 2019 Financial Results:

Smith Micro reported revenue of $10.9 million for the second quarter ended June 30, 2019, compared to $6.9 million reported in the second quarter ended June 30, 2018.

Second quarter 2019 gross profit was $9.9 million compared to $5.8 million reported in the second quarter of 2018.

The following information was filed by Smith Micro Software Inc (SMSI) on Thursday, July 25, 2019 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.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/948708/000156459019028369/smsi-10q_20190630.htm

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

Smith Micro Software Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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

Continue

Rating
Learn More

Filter by Sentiment:

All

Positive

Negative

Filter by Category:

All

Revenue

M & A

Financial

Other

Filter by Subcategory:

All

Product

Expense

Other

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 customer concentration, projected revenues, market acceptance of products, the success and timing of new product introductions, the competitive factors affecting our business, our ability to raise additional capital, gross profit and income, our ability to remain a going concern, our expenses, and the protection of our intellectual property.

Revenue - Product Highlight
We received net proceeds of approximately $10.8 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 $0.3 million of dividends on preferred stock.
M & A - Other Highlight
Excluding the ViewSpot acquisition, revenue growth was 37% compared to the same period in 2018.
M & A - Other Highlight
Excluding the ViewSpot acquisition, revenue growth was 36% compared to the same period in 2018.
Revenue - Product Highlight
Wireless revenue of $10.6 million increased $4.1 million, or 64%, primarily due to increased subscribers and resulting revenues from our largest customer, Sprint, associated with growth in the SafePath product.
Revenue - Product
Wireless revenue of $18.8 million...Read more
Revenue - Product
Revenues were $10.9 million and...Read more
Revenue - Product
Revenues were $19.3 million and...Read more
Financial - Expense
This increase was primarily due...Read more
Financial - Expense
This increase was primarily due...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
Other - Other
Smith Micro develops software to...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: 0001564590-19-028369
Submitted to the SEC: Fri Aug 02 2019 12:07:14 PM EST
Accepted by the SEC: Fri Aug 02 2019
Period: Sunday, June 30, 2019
Industry: Prepackaged Software

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/smsi/0001564590-19-028369.htm

Smith Micro Software, Inc. (SMSI) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

SEC Filings

SMSI Valuations

SMSI Annual Reports

SMSI Quarterly Reports

SMSI Corporate News