We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Smith Micro Software (SMSI) Q4 Earnings in Line With Estimates
Read MoreHide Full Article
Smith Micro Software (SMSI - Free Report) reported fourth-quarter 2022 non-GAAP earnings of 8 cents per share, which met the Zacks Consensus Estimate. The company reported a non-GAAP loss of 4 cents in the year-ago quarter.
Total revenues of $11.4 million beat the Zacks Consensus Estimate by 1.6%. However, the top line fell 22% on a year-over-year basis due to a decline in CommSuite and Family Safety revenues.
Family Safety’s revenues decreased 17% year over year due to a decline in the Safe & Found platform’s revenues, pertaining to the attrition of legacy Sprint subscribers.
Revenues from CommSuite were $0.9 million compared with $2.2 million reported in the year-ago quarter due to a decline in legacy Sprint subscribers on the CommSuite platform.
Smith Micro Software, Inc. Price, Consensus and EPS Surprise
Revenue contribution from ViewSpot was $0.8 million, unchanged year over year.
For the first quarter of 2023, the company expects revenues to decline 2-5% from that reported in the fourth quarter of 2022.
Margins
The gross margin for the fourth quarter was 71%, which contracted 100 basis points (bps) from the year-ago quarter.
Non-GAAP operating expenses were $12 million, down 7.5% year over year.
Balance Sheet
As of Dec 31, 2022, Smith Micro Software’s cash and cash equivalents were $14 million compared with $16.1 million as of Dec 31, 2021.
In the fourth quarter, cash used in operating activities was $4.8 million compared with the $15.2 million used in the previous-year quarter.
A Look At 2022 Numbers
Smith Micro Software reported total revenues of $48.5 million in 2022, down 17% from 2021.
The company reported a non-GAAP loss of 34 cents per share in 2022 compared with a loss of 4 cents per share reported in 2021. Smith Micro Software’s gross margin contracted 700 bps to 71%.
For the full year, cash used in operating activities was $19.3 million compared with the $12.9 million used in the previous year.
Zacks Rank & Other Stocks to Consider
Smith Micro Software currently carries a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Arista Networks’ 2023 earnings is pegged at $5.79 per share, rising 11.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 14.2%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have gained 24% in the past year.
The Zacks Consensus Estimate for Perion’s 2023 earnings is pegged at $2.69 per share, rising 16% in the past 60 days. The long-term earnings growth rate is anticipated to be 25%.
Perion’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 31.7%. Shares of PERI have gained 69.3% in the past year.
The Zacks Consensus Estimate for Pegasystem’s 2023 earnings is pegged at $1.31 per share, rising 96% in the past 60 days.
Pegasystem’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 11.2%. Shares of PEGA have declined 37.2% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Smith Micro Software (SMSI) Q4 Earnings in Line With Estimates
Smith Micro Software (SMSI - Free Report) reported fourth-quarter 2022 non-GAAP earnings of 8 cents per share, which met the Zacks Consensus Estimate. The company reported a non-GAAP loss of 4 cents in the year-ago quarter.
Total revenues of $11.4 million beat the Zacks Consensus Estimate by 1.6%. However, the top line fell 22% on a year-over-year basis due to a decline in CommSuite and Family Safety revenues.
Family Safety’s revenues decreased 17% year over year due to a decline in the Safe & Found platform’s revenues, pertaining to the attrition of legacy Sprint subscribers.
Revenues from CommSuite were $0.9 million compared with $2.2 million reported in the year-ago quarter due to a decline in legacy Sprint subscribers on the CommSuite platform.
Smith Micro Software, Inc. Price, Consensus and EPS Surprise
Smith Micro Software, Inc. price-consensus-eps-surprise-chart | Smith Micro Software, Inc. Quote
Revenue contribution from ViewSpot was $0.8 million, unchanged year over year.
For the first quarter of 2023, the company expects revenues to decline 2-5% from that reported in the fourth quarter of 2022.
Margins
The gross margin for the fourth quarter was 71%, which contracted 100 basis points (bps) from the year-ago quarter.
Non-GAAP operating expenses were $12 million, down 7.5% year over year.
Balance Sheet
As of Dec 31, 2022, Smith Micro Software’s cash and cash equivalents were $14 million compared with $16.1 million as of Dec 31, 2021.
In the fourth quarter, cash used in operating activities was $4.8 million compared with the $15.2 million used in the previous-year quarter.
A Look At 2022 Numbers
Smith Micro Software reported total revenues of $48.5 million in 2022, down 17% from 2021.
The company reported a non-GAAP loss of 34 cents per share in 2022 compared with a loss of 4 cents per share reported in 2021. Smith Micro Software’s gross margin contracted 700 bps to 71%.
For the full year, cash used in operating activities was $19.3 million compared with the $12.9 million used in the previous year.
Zacks Rank & Other Stocks to Consider
Smith Micro Software currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology space are Arista Networks (ANET - Free Report) , Perion Network (PERI - Free Report) and Pegasystems (PEGA - Free Report) , each presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arista Networks’ 2023 earnings is pegged at $5.79 per share, rising 11.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 14.2%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 14.2%. Shares of ANET have gained 24% in the past year.
The Zacks Consensus Estimate for Perion’s 2023 earnings is pegged at $2.69 per share, rising 16% in the past 60 days. The long-term earnings growth rate is anticipated to be 25%.
Perion’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 31.7%. Shares of PERI have gained 69.3% in the past year.
The Zacks Consensus Estimate for Pegasystem’s 2023 earnings is pegged at $1.31 per share, rising 96% in the past 60 days.
Pegasystem’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, the average surprise being 11.2%. Shares of PEGA have declined 37.2% in the past year.