Smith Micro Q2 revenue down 20% YoY to $12.7M; GAAP loss widens to $0.15/share

SMITH MICRO SOFTWARE, INC.

2022-Q2 EPS reported -$0.28 revenue$25,409,000

Revenue $12.7M vs $15.9M in Q2 2021; gross margin fell to 71% from 79%.
GAAP net loss $8.5M ($0.15 loss per share) vs $5.2M loss ($0.10) prior year.
Non-GAAP net loss $5.1M ($0.09 loss) compared to $0.3M loss ($0.01) year ago.
Cash $5.4M plus $7.0M revolver availability; total liquidity $12.4M.
CEO expects operating expense reductions starting Q3 as acquisition integration nears completion.

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