secwatch.observer — SEC 8-K summary
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Issuer:     SMITH MICRO SOFTWARE, INC. (SMSI)
CIK:        0000948708
Form:       8-K
Filed at:   2023-03-09T23:59:59+00:00
Accession:  0000948708-23-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smith Micro Q4 revenue $11.4M, down 22% YoY; announces $4M quarterly cost cuts
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- GAAP net loss Q4 $8.0M ($0.14/share) vs $4.0M loss ($0.07) last year; FY loss $29.3M ($0.53) vs $31.0M ($0.61).
- Non-GAAP net loss Q4 $4.3M ($0.08/share) vs $2.4M ($0.04); FY non-GAAP loss $18.8M ($0.34) vs $2.2M ($0.04).
- Revenue for full year 2022 was $48.5M, down from $58.4M in 2021; gross margin fell from 78% to 71%.
- Company plans to reduce quarterly expenses by $4M and return to profitability in Q2 2023, but no later than Q3.
- Cash and cash equivalents at Dec 31, 2022 were $14.0M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/948708/000094870823000006/0000948708-23-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/948708/000094870823000006/smsi-20230309.htm
  HTML page:      https://secwatch.observer/filing/0000948708-23-000006

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer