Smith Micro Q4 revenue $8.6M (-25% YoY); proposes reverse stock split 1:4-1:10

SMITH MICRO SOFTWARE, INC.

2023-FY EPS reported -$0.38 revenue$40,862,000

Q4 2023 revenue $8.6M, down from $11.4M in Q4 2022; GAAP net loss $6.7M ($0.09 loss/share) vs $8.0M loss a year ago.
Full-year 2023 revenue $40.9M, down 16% from $48.5M; GAAP net loss $24.4M ($0.38 loss/share), improved from $29.3M loss in 2022.
Non-GAAP net loss Q4 $1.7M vs $4.0M in Q4 2022; full-year non-GAAP loss $5.3M ($0.08 loss/share) vs $17.6M loss in 2022.
Reverse stock split proposed at ratio of 1:4 to 1:10 to meet Nasdaq minimum bid price; special meeting set for April 1, 2024.
CEO cites SafePath platform expansion (Global, OS, Premium) and market momentum in digital family safety as key strategic focus.

item 2.02 item 7.01 item 8.01 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 twelve months ended December 31, 2023 results: revenue $40.9 million, net income $24.4 million, EPS $0.38 loss per share.

Period: the twelve months ended December 31, 2023
Revenue: $40.9 million
Net income: $24.4 million
EPS: $0.38 loss per share
Result: reported results

Exact text from the filing

Smith Micro reported revenue of $40.9 million for the twelve months ended December 31, 2023, compared to $48.5 million reported in the twelve months ended December 31, 2022. Gross profit for the twelve months ended December 31, 2023 was $30.3 million compared to $34.3 million reported for the same period in 2022. Gross profit as a percentage of revenue was 74.2 percent for the twelve months ended December 31, 2023 compared to 70.7 percent for the twelve months ended December 31, 2022. GAAP net loss for the twelve months ended December 31, 2023 was $24.4 million, or $0.38 loss per share, compared to GAAP net loss of $29.3 million, or $0.53 loss per share, for the twelve months ended December 31, 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SMITH MICRO SOFTWARE, INC. reported the quarter ended December 31, 2023 results: revenue $8.6 million, net income $6.7 million, EPS $0.09 loss per share.

Period: the quarter ended December 31, 2023
Revenue: $8.6 million
Net income: $6.7 million
EPS: $0.09 loss per share
Result: reported results

Exact text from the filing

Smith Micro reported revenue of $8.6 million for the quarter ended December 31, 2023, compared to $11.4 million reported in the quarter ended December 31, 2022. Gross profit for the quarter ended December 31, 2023 was $6.4 million, compared to $8.1 million for the quarter ended December 31, 2022. Gross profit as a percentage of revenue was 74.9 percent for the quarter ended December 31, 2023, compared to 70.8 percent for the quarter ended December 31, 2022. GAAP net loss for the quarter ended December 31, 2023 was $6.7 million, or $0.09 loss per share, compared to GAAP net loss of $8.0 million, or $0.14 loss per share, for the quarter ended December 31, 2022.

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Source: SEC EDGAR

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