Smith Micro Names Huffmeyer CEO, Forecasts 24% Q2 Revenue Growth
Smith Micro Software posted a 9% Q1 revenue decline and a GAAP net loss of $3.9 million, cutting expenses 22% and lifting gross margin to 78.4%. It named Tim Huffmeyer as CEO and forecasts 24% Q2 revenue growth supported by a new carrier contract.
1. Executive Transition
Smith Micro completed a leadership succession plan with Tim Huffmeyer stepping in as CEO and Bethany Braun as CFO, positioning the new team to drive strategic growth and operational efficiency.
2. Q1 Financial Highlights
In Q1 2026, revenue fell 9% year-over-year and GAAP net loss totaled $3.9 million; GAAP operating expenses dropped 22% while gross margin improved to 78.4%, though family safety revenue declined 10% and cash reserves stood at $1.7 million.
3. Q2 Outlook and Growth Drivers
Management projects up to $5.2 million in Q2 revenue—a 24% increase over Q1—anchored by a new carrier contract and planned launches of two additional carriers, with non-recurring engineering expected to convert into recurring revenue over time.