Smith Micro Software Inc (SMSI) 10-Q Quarterly Report May 2022

– Smith Micro Software, Inc. (NASDAQ: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its first quarter ended March 31, 2022.

“Our efforts in the first quarter, highlighted by the successful launch of SafePath^® 7 at a Tier One U.S wireless carrier, are expected to be catalysts to support and grow our revenues in future periods,” said William W. Smith, Jr., President and CEO of Smith Micro Software. “We continue to invest in the critical development resources that we believe will pave the way for successful migration to the SafePath platform at our other carrier customers and further position us for success.”

“We believe Smith Micro to be the clear leader in family safety applications for the wireless carrier space and anticipate that we will be able to leverage this position to open up an even larger market opportunity for us with SafePath Home, SafePath Drive, and SafePath IOT,” Smith continued.

First Quarter 2022 Financial Results

Smith Micro reported revenue of $12.7 million for the quarter ended March 31, 2022, compared to $11.4 million reported in the quarter ended March 31, 2021.

Gross profit for the quarter ended March 31, 2022 was $9.1 million, compared to $9.8 million for the quarter ended March 31, 2021.

Gross profit as a percentage of revenue was 71 percent for the quarter ended March 31, 2022, compared to 86 percent for the quarter ended March 31, 2021.

The following information was filed by Smith Micro Software Inc (SMSI) on Wednesday, May 4, 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-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 - Expense Highlight
We believe that once we are able to fully migrate our customers onto our SafePath platform, which we have targeted for completion for our largest customers over the next year, our development costs should decline.

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

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

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: SMSI
CIK: 948708
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-22-018237
Submitted to the SEC: Thu May 05 2022 4:01:31 PM EST
Accepted by the SEC: Thu May 05 2022
Period: Thursday, March 31, 2022
Industry: Prepackaged Software

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Smith Micro Software, Inc. (SMSI) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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