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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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SMSI Quarterly 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 First Quarter 2022 Financial Results

 

 

PITTSBURGH, PA, May 4, 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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Smith Micro Software Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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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)
Commitments And Contingencies
Credit Facility
Credit Facility - Additional Information (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Details Of Basic And Diluted Earnings Per Share (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 - 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 - 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: 0001564590-22-018237
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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