secwatch.observer — SEC 8-K summary
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Issuer:     SMITH MICRO SOFTWARE, INC. (SMSI)
CIK:        0000948708
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0000948708-24-000008
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/948708/000094870824000008/0000948708-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/948708/000094870824000008/smsi-20240222.htm
  HTML page:      https://secwatch.observer/filing/0000948708-24-000008

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