Smith Micro Q2 revenue down 50% to $5.1M; GAAP net loss $6.9M

SMITH MICRO SOFTWARE, INC.

2024-Q2 EPS reported -$3.79 revenue$10,938,000

Revenue $5.1M, down 50% YoY from $10.3M; gross margin 68.7% vs 75.0%.
GAAP net loss $6.9M ($0.66 loss per share) vs $5.7M loss ($0.73 loss per share) a year ago.
Non-GAAP net loss $4.0M ($0.38 loss per share) vs $0.6M loss ($0.08 loss per share).
Cash $5.6M at June 30; YTD revenue $10.9M, GAAP net loss $37.9M ($3.79 loss per share).
CEO notes Boost Family Guard launch, upcoming SafePath launch with European tier-one carrier, and cost reductions.

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