Smith Micro Q3 revenue misses estimates

Reuters
Nov 06
Smith Micro Q3 revenue misses estimates

Overview

  • Smith Micro Q3 revenue declined yr/yr, missing analyst expectations

  • Company reports GAAP net loss for Q3, smaller than last year's loss

  • Gross profit margin improved to 73.9% from 71.6% yr/yr

Outlook

  • Smith Micro did not provide specific financial guidance for future quarters in its press release

Result Drivers

  • FAMILY DIGITAL LIFESTYLE - Smith Micro emphasizes its Family Digital Lifestyle offering as a key growth opportunity, aligning with carrier market trends

  • OPERATIONAL STREAMLINING - Co has streamlined operations for faster and more agile delivery, aiming to strengthen its financial foundation

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$4.35 mln

$4.60 mln (2 Analysts)

Q3 Net Income

-$4.54 mln

Q3 Gross Profit

$3.21 mln

Q3 Operating Expenses

$7.70 mln

Q3 Operating Income

-$4.49 mln

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the software peer group is "buy"

  • Wall Street's median 12-month price target for Smith Micro Software Inc is $4.00, about 83.2% above its November 4 closing price of $0.67

Press Release: ID:nBw2m4BqJa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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