QUOTE AND NEWS
Benzinga  Feb 25  Comment 
Analysts at Needham upgraded Smith Micro Software Inc. (NASDAQ: SMSI) from Hold to Buy. Smith Micro Software shares have dropped 14.13% over the past 52 weeks, while the S&P 500 index has surged 14.65% in the same period. Smith Micro...
Benzinga  Feb 25  Comment 
Analysts at Morgan Stanley upgraded Expeditors International of Washington Inc. (NASDAQ: EXPD) from Underperform to Equal-weight. The price target for Expeditors International has been raised from $41.00 to $46.00. Expeditors International's...
TheStreet.com  Jan 14  Comment 
NEW YORK (TheStreet) -- Shares of Smith Micro Software were gaining 16% to $1.46 Wednesday after the software company announced preliminary fourth quarter revenue results and a revenue guidance for fiscal 2015. Smith Micro said that it expects...
Benzinga  Jan 14  Comment 
Shares of Smith Micro Software, Inc. (NASDAQ: SMSI) soared nearly 20 percent Wednesday after the company announced strong preliminary financial results for its fiscal fourth quarter ended December 31, 2014. Revenue for the fiscal 2014 fourth...
DailyFinance  Aug 18  Comment 
ALISO VIEJO, CA -- (Marketwired) -- 08/18/14 -- Smith Micro Software, Inc. (NASDAQ: SMSI), a leading provider of wireless and mobility solutions, today announced that it has received commitments to purchase 6,667,200 shares of its common stock...
SeekingAlpha  Aug 2  Comment 
Smith Micro Software Inc. (NASDAQ:SMSI) Q2 2014 Earnings Conference Call July 30, 2014 4:30 pm ET Executives Todd Kehrli - IR, MKR Group William W. Smith, Jr. - President and CEO Steven M. Yasbek - CFO Carla Fitzgerald - CMO ...
Benzinga  Jul 21  Comment 
The patent, according to a company press release, will now allow operators to offer the desktop, tablet and mobile VoIP software developer's Over the Top communications product with "trusted mobile based user authentication." CounterPath...




 
TOP CONTRIBUTORS

Smith Micro Software designs, develops and markets software products and services primarily for the mobile computing and communications industries. The company makes money through its portfolio of wireless software products and services including a wide range of software solutions including its QuickLink® family of products.[1] SMSI then sells their products and services to many of the world’s leading mobile network operators, original equipment manufacturers (“OEM”), device manufacturers and enterprise businesses, as well as directly to consumers. A large portion of SMSI's sales are dependent on very few large wireless communication companies.

Business Growth

SMSI separates revenues into two main segments:

  • Wireless includes the company's connectivity and security management, mobile VPN, media and content management, device management, Push-To-Talk, Visual Voicemail, contact and calendar syncing and video content delivery and optimization solutions.[2]
  • Productivity & Graphics includes retail and direct sales of compression and broad consumer-based software.[3]

Trends and Forces

SMSI is Highly Dependent on a Few Major Customers due to Industry Consolidation

SMSI's revenues are highly dependent upon the biggest wireless communications companies. For example, Verizon Communications (VZ), Sprint Nextel (S) and AT&T (T) accounts for roughly 66.3% of the company's revenues. Because the industry is so consolidated, these big three companies have considerable leverage over the price charged for SMSI's products, which therefore influence the top-line sales that SMSI may achieve. To increase sales outside core vertical markets, for example to large enterprises, requires SMSI to devote time and resources to hire and train sales employees familiar with those industries but customers in other vertical markets may not need or sufficiently value SMSI's current products or new product introductions.[4]

Emerging Markets is the Next Source of Opportunity for SMSI

By moving away from traditional domestic markets, SMSI plans to expand its product offerings to support new higher speed networking and 4G technologies such as HSPA+, LTE and WiMAX network protocols. However these markets already have competitors in them, so SMSI's depends on carrier customers’ ability to successfully introduce new mobile services enabled by SMSI's products and the company's own ability to broaden carrier customer base, which is difficult and time-consuming.

Competition

SMSI competes with other software support companies to large wireless communication companies, such as:

  • MicroStrategy (MSTR) is a worldwide provider of business intelligence software that enables companies to report, analyze and monitor the data stored across their enterprise.[5]
  • Silicon Graphic Internat (SGI) is a provider of clustered computing and storage, high-performance compute and storage, and data center technologies integrated with a choice of software, customer support services and professional services.[6]
  • TIBCO Software (TIBX) is an independent provider of middleware and infrastructure software.[7]




References

  1. SMSI FY2010 10-K, Pg 1
  2. SMSI FY2010 10-K, Pg 25
  3. SMSI FY2010 10-K, Pg 26
  4. SMSI FY2010 10-K, Pg 21
  5. MSTR Business Description
  6. SGI Business Description
  7. TIBX Business Description
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