Please wait while we load the requested 10-Q report or click the link below:
Smith Micro Reports Second Quarter 2020 Financial Results
PITTSBURGH, PA, August 5, 2020– Smith Micro Software, Inc. (NASDAQ: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its second quarter ended June 30, 2020.
“I am pleased with our results for the first half of 2020, particularly with our ongoing R&D efforts as we continue to ramp product development to meet the demands of our growing customer base,” said William W. Smith, Jr., President and CEO of Smith Micro. “In the second quarter, we remained profitable, generated free cash flow, readied our SafePath® platform for launch with a new wireless carrier, and deployed our ViewSpot® solution at another carrier - all while navigating the unique demands of doing business during the COVID-19 pandemic.”
Second Quarter 2020 Financial Results
Smith Micro reported revenue of $12.9 million for the second quarter ended June 30, 2020, compared to $10.9 million reported in the second quarter ended June 30, 2019.
Second quarter 2020 gross profit was $11.7 million compared to $9.9 million reported in the second quarter of 2019.
Gross profit as a percentage of revenue was 90 percent for the second quarter of 2020 compared to 91 percent for the second quarter of 2019.
Generally accepted accounting principles in the United States (“GAAP”) net income available to common stockholders for the second quarter of 2020 was $1.4 million, or $0.03 diluted earnings per share, compared to GAAP net income available to common stockholders of $3.4 million, or $0.10 diluted earnings per share, for the second quarter of 2019.
The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, August 5, 2020 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.
View differences made from one quarter to another to evaluate Smith Micro Software Inc's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Smith Micro Software Inc.