secwatch.observer — SEC 8-K summary
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Issuer:     SMITH MICRO SOFTWARE, INC. (SMSI)
CIK:        0000948708
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0000948708-23-000025
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smith Micro Q1 revenue down 14% to $10.9M; net loss narrows slightly to $6.9M
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- Revenue $10.9M vs $12.7M Q1 2022; gross margin 70% vs 71%.
- GAAP net loss $6.9M ($0.11 per share); Non-GAAP net loss $3.6M ($0.06 per share).
- Cost reduction plan expects $4M quarterly savings by Q2 2023 from resource reallocation.
- Management cites new Tier 1 carrier launch on SafePath and growing pipeline for SafePath and ViewSpot.
- Non-GAAP net loss $3.6M vs prior-year $3.9M; loss per share improved to $0.06 from $0.07.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/948708/000094870823000025/0000948708-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/948708/000094870823000025/smsi-20230511.htm
  HTML page:      https://secwatch.observer/filing/0000948708-23-000025

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