Please wait while we load the requested 10-Q report or click the link below:
Smith Micro Reports Third Quarter 2020 Financial Results
PITTSBURGH, PA, November 4, 2020– Smith Micro Software, Inc. (NASDAQ: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its third quarter ended September 30, 2020.
“Our third quarter was extremely productive and I am pleased that our financial results came in above street expectations,” said William W. Smith, Jr., President and CEO of Smith Micro Software. “During the quarter, we invested in R&D as well as sales and marketing initiatives, and will continue to do so throughout the remainder of 2020. I am very pleased that we remain profitable and cash-flow positive, as the company generated $8 million of cash in the first three quarters of 2020. Moving into 2021, we remain well-positioned for growth and continued profitability as we look to launch our solutions with multiple carrier customers.”
Third Quarter 2020 Financial Results
Smith Micro reported revenue of $12.6 million for the third quarter ended September 30, 2020, compared to $11.8 million reported in the third quarter ended September 30, 2019.
Third quarter 2020 gross profit was $11.3 million compared to $10.8 million reported in the third quarter of 2019.
Gross profit as a percentage of revenue was 90 percent for the third quarter of 2020 compared to 91 percent for the third quarter of 2019.
Generally accepted accounting principles in the United States (“GAAP”) net income available to common stockholders for the third quarter of 2020 was $161 thousand, or $0.00 diluted earnings per share,
The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, November 4, 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.