Smith Micro Software's Q2 adj net loss narrows
SMSI•Outlook
- Company expects two new customer launches in the near term
Overview
- US mobile software provider's Q2 revenue fell yr/yr, gross margin improved
- Q2 non-GAAP net loss narrowed to $1.0 mln from $2.8 mln a year earlier
- Company expects new customer launches and contract wins to drive future growth
Result Drivers and Key Details
- PRODUCT DEMAND - Co said it saw strong demand for its solutions and momentum across the business
- NEW CUSTOMERS - Co said two new customers are ready to launch in the near term and multiple contracts are under negotiation
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 Revenue | Miss | $4.34 mln | $4.70 mln (2 Analysts) |
| Q2 Net Loss | $2.65 mln | ||
| Q2 Gross Profit | $3.53 mln | ||
| Q2 Operating Income | -$2.37 mln |
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