Smith Micro reports Q3 adjusted EPS (30c), consensus (31c)

Reports Q3 revenue $4.65M, consensus $4.77M. “We believe that the actions that we’ve taken to rationalize our costs over the past several months, coupled with the expansion of our revenue opportunities, have positioned us for a return to profitability on a non-GAAP basis and free cash flow during 2025,” said William W. Smith Jr., president, chief executive officer, and chairman of the board of Smith Micro (SMSI). “With the pending launch of our Tier One carrier in Europe, new product innovations that align with our customers’ strengths, and new prospects on the horizon, we are confident that the Company is positioned for growth over the coming quarters. We had targeted eliminating at least $2 million in quarterly expenses from our cost structure by the fourth quarter of this year. As compared with the first quarter of this year, we have already achieved $1.9 million in cost reductions during the third quarter and we have yet to see the full benefit of the actions that we have taken. I’m very confident in our outlook for 2025, as evidenced by the recent $3 million investment I made into the Company last month as part of our combined $6.9 million capital raise.”