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

Smith Micro Software Inc

CIK: 948708 Ticker: SMSI

EXHIBIT 99.1

 

 

 

IR INQUIRIES:

Charles Messman

Investor Relations

949-362-5800

IR@smithmicro.com

 

 

Smith Micro Reports Second Quarter 2019 Financial Results

Achieved Revenue of $10.9 Million

And Non-GAAP Earnings per Share of $0.08

 

 

PITTSBURGH, PA, July 25, 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.

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Inside Smith Micro Software Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Loss
Consolidated Statements Of Stockholders' Equity
Accounting Policies
Accounting Policies (Policies)
Accounting Policies - Additional Information (Detail)
Acquisitions
Acquisitions (Tables)
Acquisitions - Summary Of Consideration Paid For Acquisitions (Detail)
Acquisitions - Summary Of Preliminary Allocation Of Purchase Price (Detail)
Acquisitions - Summary Of Unaudited Proforma Results Of Operation (Detail)
Commitments And Contingencies
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Details Of Basic And Diluted Earnings Per Share (Detail)
Equity Transactions
Equity Transactions - Additional Information (Detail)
Gain On Sale Of Software Product
Gain On Sale Of Software Product - Additional Information (Detail)
Going Concern Evaluation
Going Concern Evaluation - Additional Information (Detail)
Goodwill
Goodwill - Additional Information (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Summary Of Maturity Of Operating Lease Liabilities (Detail)
Leases - Summary Of Operating Lease Assets And Liabilities (Detail)
Leases - Summary Of Operating Lease Cost (Detail)
Revenues
Revenues (Tables)
Revenues - Additional Information (Detail)
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 - Company's Customers That Represent 10% Or More Of Company's Net Revenues (Detail)
Segment, Customer Concentration And Geographical Information - Revenues Generated By Each Business Unit (Detail)
Stock-Based Compensation
Stock-Based Compensation - Additional Information (Detail)
Subsequent Events
Subsequent Events - Additional Information (Detail)
The Company

Material Contracts, Statements, Certifications & more

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

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

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