The following is a summary of the Smith Micro Software, Inc. (SMSI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Smith Micro Software, Inc. reported Q3 2024 revenue of $4.6 million, down 58% from Q3 2023.

• Gross profit for Q3 was $3.3 million with a gross margin of 72%.

• The company is focusing on reducing costs, having already achieved $1.9 million in cost reductions in Q3 and targeting up to $2.8 million in the next quarter.

• GAAP net loss for Q3 2024 was $6.4 million, or a $0.54 loss per share.

Business Progress:

• Smith Micro will soon announce a European carrier launch and expects to sign a contract with a U.S.-based MVNO for deploying their SafePath OS solution.

• Has accelerated deployment for SafePath OS due to strong market interest, with first deployments expected in Q1 2025.

• Partnerships have been formed with the Competitive Carrier Association under the brand name SafeTools, with contracts in process for multiple CCA member carriers.

Opportunities:

• The company has discussed potential new customer opportunities including the imminent launch with a European carrier and an upcoming contract with a U.S.-based MVNO that would deploy the SafePath OS solution.

• The Competitive Carrier Association agreement and strong sales pipeline offer significant growth possibilities, particularly in Europe where opportunities are largely untapped.

Risks:

• Significant decline in revenue, primarily due to the conclusion of the Verizon Family Safety Contract and the decrease in Sprint Safe and Found Family Safety revenue.

More details: Smith Micro Software IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.