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Smith Micro Software, Inc. (SMSI) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

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SMSI Annual Reports

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 Fourth Quarter and Fiscal Year 2021 Financial Results

 

 

PITTSBURGH, PA, March 10, 2022

– Smith Micro Software, Inc. (NASDAQ: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its fourth quarter and fiscal year ended December 31, 2021.

“This past year’s momentum, spurred by the largest acquisition in our history, was truly transformational for Smith Micro, positioning us for success in 2022 and beyond,” said William W. Smith, Jr., President and CEO of Smith Micro Software. “During 2021, we accomplished several key milestones across the entire organization building a stronger foundation for ongoing success. In 2021, we added several Tier 1 carriers to our global digital family safety customer base, expanding our leadership by delivering our Family Digital Lifestyle vision to a large and growing marketplace.

“We have gained valuable experience and learned critical lessons over the past year that will pave the way for a smooth migration of carriers to the SafePath® platform, offering a seamless transition for the consumers using these family safety solutions,” Smith continued. “Our exciting transformation will carry on through 2022 as we continue to strengthen both our market growth and our partnerships with our valuable carrier customers.”

Fourth Quarter 2021 Financial Results

Smith Micro reported revenue of $14.7 million for the fourth quarter ended December 31, 2021, compared to $12.4 million reported in the fourth quarter ended December 31, 2020.

Fourth quarter 2021 gross profit was $10.6 million compared to $11.0 million reported in the fourth quarter of 2020.

 

 

 


The following information was filed by Smith Micro Software Inc (SMSI) on Thursday, March 10, 2022 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-K Annual 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-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual 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
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Detail)
Acquisitions - Summary Of Allocation Of Purchase Price (Detail)
Acquisitions - Summary Of Consideration Paid For Acquisitions (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)
Employee Benefit Plans
Employee Benefit Plans - Additional Information (Detail)
Equipment And Improvements
Equipment And Improvements (Tables)
Equipment And Improvements - Additional Information (Detail)
Equipment And Improvements - Summary Of Equipment And Improvements (Detail)
Equity Transactions
Equity Transactions - Additional Information (Detail)
Gain On Sale Of Software Products
Gain On Sale Of Software Products - Additional Information (Detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Detail)
Goodwill And Intangible Assets - Future Amortization Expense Related To Intangible Assets (Detail)
Goodwill And Intangible Assets - Schedule Of Acquired Intangible Assets By Major Asset Class (Detail)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Detail)
Income Taxes - Components Of Deferred Tax Assets And Liabilities (Detail)
Income Taxes - Federal Statutory Rate To Loss Before Income Taxes (Detail)
Income Taxes - Gross Unrecognized Tax Benefits Changes In Balances (Detail)
Income Taxes - Schedule Of (Loss) Income Before Provision For Income Taxes (Detail)
Income Taxes - Summary Of Income Tax Expense (Benefit) (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)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Detail)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies - Schedule Of Company's Level 3 Financial Liabilities Related To Contingent Consideration (Detail)
Revenues
Revenues (Tables)
Revenues - Additional Information (Detail)
Revenues - Schedule Of Revenues On Disaggregated Basis (Detail)
Segment, Concentration And Geographical Information
Segment, Concentration And Geographical Information (Tables)
Segment, Concentration And Geographical Information - Additional Information (Detail)
Segment, Concentration And Geographical Information - Company Revenue In Different Geographic Locations (Detail)
Segment, Concentration And Geographical Information - Wireless Revenues By Product Line (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Assumptions Used Estimate Fair Value Of Employee Stock Purchase Plans (Detail)
Stock-Based Compensation - Assumptions Used To Compute Share-Based Compensation Costs For Stock Options Granted (Detail)
Stock-Based Compensation - Non-Cash Stock-Based Compensation Expenses (Detail)
Stock-Based Compensation - Summary Of Outstanding Restricted Stock Awards And Related Activity (Detail)
Stock-Based Compensation - Summary Of Outstanding Stock Options And Related Activity (Detail)
Subsequent Events
Ticker: SMSI
CIK: 948708
Form Type: 10-K Annual Report
Accession Number: 0001564590-22-009851
Submitted to the SEC: Fri Mar 11 2022 4:02:29 PM EST
Accepted by the SEC: Fri Mar 11 2022
Period: Friday, December 31, 2021
Industry: Prepackaged Software

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