PITTSBURGH, November 29, 2022--(BUSINESS WIRE)--Smith Micro Software, Inc. (the "Company" or Smith Micro") (NASDAQ: SMSI) is commemorating 40 years in business as a leading developer of innovative software solutions. Also celebrating his 40th anniversary as President, CEO and Chairman of the Board of Smith Micro is William W. Smith Jr., who co-founded the Company on November 30, 1982 with the vision of filling the need for cutting edge telecommunications software solutions that could automate manual tasks and respond quickly to changes dictated by rapidly evolving technology, connectivity, and business automation.
"A forty-year legacy as a technology company is a tremendous achievement, and a testament to our employees’ ability to continually innovate and evolve to remain at the vanguard of technological advances through their vision, creativity, and commitment," said Smith. "Businesses want solutions that create value, spur growth, simplify processes, and are scalable, and that ultimately improve their results and the lives of their customers. Whether it’s delivering high-quality solutions like our market-leading SafePath® Digital Family Lifestyle™ platform, connecting people through our CommSuite® voice messaging platform, or helping to execute retail market strategies in the most innovative fashion with our ViewSpot® retail display management platform, Smith Micro has never lost sight of the need to deliver products that bring success and value to our customers, partners, shareholders, and the Company. And we will continue to innovate, adapt, and grow by doing exactly that in the future."
Smith Micro has grown into a global company with offices in six different countries that serve customers spanning three continents. Since entering the market with its Stock Portfolio System, which enabled downloading of stock quotes via an analog modem, followed by its Quick Link data and fax product with analog modems, and its subsequent Quick Link connection manager product, which provided remote connectivity software that turned a cell phone into a wireless modem, the Company quickly established itself as a leading name in data connectivity. The Company has provided a plethora of software solutions ranging from its Stuffit data compression products to digital communication solutions like HotFax in the late nineties, which allowed for the transmission of faxes, to consumer-focused digital graphic design products enjoyed by hobbyists, professional artists and everyone in between during the 2010s.
With over twenty acquisitions accelerating the growth of the business, Smith Micro has continually recognized and responded to the growing importance of an increasingly digitally connected world in offering solutions to mobile network operators worldwide. Today, the Company fulfills its mission and the needs of its customers with sustainable, scalable platforms that monetize everyday consumer needs and behavior - the integrated, comprehensive Digital Family Lifestyle solution, SafePath, the multi-faceted CommSuite voice messaging platform, and the innovative smart retail display management system, ViewSpot.
The SafePath platform has facilitated digital family safety applications being deployed to millions of devices since its launch in 2017. SafePath 7.0, the latest release of the digital parenting platform, launched with a leading Tier 1 carrier in 2022 bringing an improved set of features and functions to the already robust solution. As the premier provider of digital family safety solutions for all US Tier 1 carriers, Smith Micro is expecting to achieve the consolidation and efficiency of having all of its customers on the SafePath platform in 2023, which will allow carriers to focus on the continuous growth of their digital family safety solutions.
ViewSpot is on target to expand its current use to over 100,000 devices globally with new customers employing ViewSpot experiences and business analytics in their retail operations. In addition to current customer base, ViewSpot is currently being integrated into yet another leading U.S. pre-paid carrier’s retail marketing strategy and will soon be deployed in more than 90,000 locations nationwide.
"To our valued customers: your trust, loyalty, and feedback enable us to continue to create extraordinarily successful products to enhance your value-added services (VAS) strategy and provide your customers with products they want and need. To our partners: we appreciate your continued support of and collaboration with Smith Micro. We thrive on developing the latest and most robust solutions for our mutual customers alongside you," said Smith. "And to our Smith Micro family of employees: your intellect, passion, and drive for excellence are second-to-none. The upcoming year looks to be one of the most pivotal and exciting in our 40-year history. I can’t wait to see what the future holds for Smith Micro."
About Smith Micro Software, Inc.
Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers and cable MSOs around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, our solutions enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. The Smith Micro portfolio also includes a wide range of products for creating, sharing, and monetizing rich content, such as visual voice messaging, optimizing retail content display and performing analytics on any product set. For more information, visit www.smithmicro.com.
Smith Micro and the Smith Micro logo are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective owners.
Certain statements in this press release are forward-looking statements regarding future events or results within the meaning of the Private Securities Litigation Reform Act, including statements related to our financial prospects, anticipated growth, and other projections of our outlook or performance and our future business plans, and statements using such words as "expect," "anticipate," "believe," "plan," "intend," "could," "will" and other similar expressions. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the important factors that could cause or contribute to such differences are customer concentration, given that the majority of our sales depend on a few large customer relationships, delay or failure of our customers to accept and deploy our products and services or new or upgraded versions thereof, delay or failure of our customers’ end users to adopt our products and services or new or upgraded versions thereof, the impact of the COVID-19 pandemic on our business and financial results, changes in demand for our products from our customers and their end-users, changes in requirements for our products imposed by our customers or by the third party providers of software and/or platforms that we use, our ability to effectively integrate, market and sell acquired product lines, new and changing technologies, customer acceptance and timing of deployment of those technologies, our ability to compete effectively with other software and technology companies, and the existence and terms of our convertible notes and related agreements, including that they may restrict our ability to obtain additional financing, and adversely affect our business, financial condition and cash flows from operations in the future. These and other factors discussed in our filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management, and we do not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.
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