Smith Micro Q1 revenue $12.7M (+11% YoY) but net loss widens to $7.0M

SMITH MICRO SOFTWARE, INC.

2022-Q1 EPS reported -$0.13 revenue$12,735,000

Revenue $12.7M vs $11.4M YoY; gross profit fell to $9.1M from $9.8M; gross margin 71% vs 86%.
GAAP net loss $7.0M ($0.13 loss per share) vs loss $3.2M ($0.07 loss) YoY.
Non-GAAP net loss $4.3M ($0.08 loss per share) vs non-GAAP net income $0.7M ($0.02) YoY.
Cash and equivalents $9.8M; $7.0M available under revolving credit facility.
CEO highlights SafePath 7 launch at a Tier One U.S. wireless carrier as catalyst for future growth.

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