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Smith Micro Software, Inc. (SMSI) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

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 2021 Financial Results

 

 

PITTSBURGH, PA, August 4, 2021

– Smith Micro Software, Inc. (NASDAQ: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its second quarter ended June 30, 2021.

“I remain very bullish about where things stand for Smith Micro after a successful quarter,” said William W. Smith, Jr., President and CEO of Smith Micro Software. “Second quarter financial results came in-line with our expectations as we continue to integrate the people, customers and technology gained through the largest acquisition in Company history. Strategic discussions with our largest carrier customers continue to move in the right direction, which we believe will set the Company up for a strong back half in 2021 and beyond.”

Second Quarter 2021 Financial Results

Smith Micro reported revenue of $15.9 million for the second quarter ended June 30, 2021, compared to $12.9 million reported in the second quarter ended June 30, 2020.

Second quarter 2021 gross profit was $12.6 million compared to $11.7 million reported in the second quarter of 2020.

Gross profit as a percentage of revenue was 79 percent for the second quarter of 2021 compared to 90 percent for the second quarter of 2020.

Generally accepted accounting principles in the United States (“GAAP”) net loss for the second quarter of 2021 was $5.2 million, or $0.10 loss per share, compared to GAAP net income of $1.4 million, or $0.03 diluted earnings per share, for the second quarter of 2020.

 


The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, August 4, 2021 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
Consolidated Statements Of Stockholders' Equity
Accounting Policies
Accounting Policies (Policies)
Accounting Policies - Additional Information (Details)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Details)
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 (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets - Additional Information (Detail)
Income Taxes
Income Taxes - Additional Information (Detail)
Leases
Leases (Tables)
Leases - Additional Information (Detail)
Leases - Summary Of Additional Information Relating To Company's Operating Leases (Detail)
Leases - Summary Of Maturity Of Operating Lease 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 - Wireless Revenues By Product (Detail)
Stock-Based Compensation
Stock-Based Compensation - Additional Information (Detail)
Subsequent Events
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: 0001564590-21-043945
Submitted to the SEC: Thu Aug 12 2021 4:01:40 PM EST
Accepted by the SEC: Thu Aug 12 2021
Period: Wednesday, June 30, 2021
Industry: Prepackaged Software

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