Smith Micro Q3 revenue falls 29% to $11.7M; non-GAAP loss per share $0.09

SMITH MICRO SOFTWARE, INC.

2022-Q3 EPS reported -$0.39 revenue$37,108,000

Revenue $11.7M vs $16.4M a year ago; gross margin 69% vs 78%.
GAAP net loss $7.3M ($0.13 loss per share) improved from $18.6M loss ($0.34) in Q3 2021.
Non-GAAP net loss $5.2M ($0.09 loss per share) vs $0.3M loss ($0.00) a year ago.
Cash and equivalents $19.0M as of September 30, 2022.
CEO cites SafePath migration nearing completion and sequential cost reduction from Avast acquisition.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SMITH MICRO SOFTWARE, INC. reported the quarter ended September 30, 2022 results: revenue $11.7 million, net income $7.3 million, EPS $0.13 loss per share.

Period: the quarter ended September 30, 2022
Revenue: $11.7 million
Net income: $7.3 million
EPS: $0.13 loss per share
Result: reported results

Exact text from the filing

Smith Micro reported revenue of $11.7 million for the quarter ended September 30, 2022, compared to $16.4 million reported in the quarter ended September 30, 2021. Gross profit for the quarter ended September 30, 2022 was $8.1 million, compared to $12.8 million for the quarter ended September 30, 2021. Gross profit as a percentage of revenue was 69 percent for the quarter ended September 30, 2022, compared to 78 percent for the quarter ended September 30, 2021. GAAP net loss for the quarter ended September 30, 2022 was $7.3 million, or $0.13 loss per share, compared to GAAP net loss of $18.6 million, or $0.34 loss per share, for the same period in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SMITH MICRO SOFTWARE, INC. reported the nine months ended September 30, 2022 results: revenue $37.1, net income $22.8 million, EPS $0.41 loss per share.

Period: the nine months ended September 30, 2022
Revenue: $37.1
Net income: $22.8 million
EPS: $0.41 loss per share
Result: reported results

Exact text from the filing

Smith Micro reported revenue of $37.1 for the nine months ended September 30, 2022, compared to $43.7 million reported in the nine months ended September 30, 2021. Gross profit for the nine months ended September 30, 2022 was $26.2 million compared to $35.1 million reported for the same period in 2021. Gross profit as a percentage of revenue was 71 percent for the nine months ended September 30, 2022 compared to 80 percent for the nine months ended September 30, 2021. GAAP net loss for the nine months ended September 30, 2022 was $22.8 million, or $0.41 loss per share, compared to GAAP net loss of $27.0 million, or $0.54 loss per share, for the same period in 2021.

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Source: SEC EDGAR

accession 0000948708-22-000032

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