SMSI - Earnings call transcript Q4 2019 | Smith Micro Software, Inc.

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Operator

Good day and welcome to the Smith Micro Fourth Quarter 2019 Earnings Conference Call. [Operator Instructions] Please also note this event is being recorded. I'd now like to turn the conference call over to Charles Messman, Vice President of Investor Relations and Corporate Development, please go ahead.

Charles Messman

Thank you, operator, and good afternoon, everyone. We appreciate you joining us today to discuss Smith Micro Software’s financial results for the fourth quarter and year end results for fiscal year 2019 ended December 31, 2019. have financial copy results. should release the you the with now, received of a press By

section at If and please Relations would do like our you not one, visit have the www.smithmicro.com. a copy of website Investor

On Tim Board, Officer and the Chairman President Financial Chief we Officer. today's Micro; Chief and have call Smith Smith, of Bill of Huffmyer, Executive

profitability; without Please new company future consist of will during our note that discussion, market company's new some development, cash the of statements, product the limitation, including, opportunities; information revenue and regarding and you will hear expenses those forward-looking operating reserves.

and which to statements. or risks involve statements or those by results implied cause trends Forward-looking materially expressed from uncertainties, could forward-looking actual our differ

to risk most please in information, refer more For the From factors XX-K. our recently filed

to to non-GAAP to update which in out a only for to our obligation statements, the are press that assumptions and point prepared no our refer Please reconciliation non-GAAP belief of I’d remarks, forward-looking speak disseminated the certain the today as date earlier that financial release of measures. back forthcoming made. measures. they financial any assumes refer Micro to management's like Smith we'll

said, I Bill. turn the will call Bill? over to now that With

Bill Smith

results us Good Fiscal Micro. year-end I and you Charlie. exciting today our Smith at extremely very quarter an quarter for time was thank fourth year. Thanks, positive fourth am for with an earnings for everyone XXXX XXXX joining our and call. overall the afternoon and conference fiscal year pleased and

million fiscal XXXX. revenues million, compared year increased $XX.X XXXX the in when results, fiscal year total $XX.X the XX% Looking operations from the for at to to reported

Non-GAAP $X.X to to or net XXXX. our Non-GAAP fiscal million quarter income reported or share. to $XX.X net grew For the fourth in income revenue for quarter, fourth million million $X.X increased million the per per year-end to when $X.XX XXXX $X.XX for share. compared $X.X XX% the increased

year the of cash fourth for million During $X.X strong and $X.X delivered quarter, million. free we flow the

SafePath, am growth that to family control platform transaction that the both our at I believe USA us us Media a and strengthen acquisition just next safety for mobile transformational Sky this of relationships Business. is been help customer continued our technologies lifestyle, with you Circle and a further and has will Circle catapult has the aware sure company by exciting will addition the propel we we competitor space the family operator Micro. expand that the new in of announced and Operator Labs amazing Smith are level digital of parental new to consistent powerful the both providing portfolio. T-Mobile recently

are that to for similar leadership case. that the I Smith to and to and The accretive that there of the on that believe Circle circle, growth opportunities for that Circle service positioned to daunting opportunity is execution. explosive the can task. both family business Micro direct-to-consumer a us during the I lifestyle are market and We digital result Trying believe and business that Smith provide are the growth. carrier focus need will to is transformative markets is their Micro available believe both other

opens merger I excited about want we very approved opportunities are Before, for for also that believe call we Micro. I is over and the T-Mobile mention Tim. Smith parties the to Sprint, turn recently all USA the to it good

Dish carrier the moving U.S. Dish the the Their very strong Dish the position networks X new opportunity ascension market. to fourth should forward. as Tier in T-Mobile of acquisition wireless remain well also growth serve welcome We about optimistic both as We for carrier. Boost and

review greater the to call the detail. Tim? turn Tim let's over to in financials Now

Tim Huffmyer

Thanks, Bill.

and contracts $XX.X the we balance. announced million, Media purchase Business for code The a deployed from was Labs software. the existing As source Operator the Circle funded to Circle's two with acquisition price of mentioned, company's recently which cash perpetual control parental currently customer Bill license included

the our excess December, to return. balance company At end $XX.X In cash mid-to-long strategic to preserve to evaluate maximize of million. short-term, capital. the the invest for of will the term, was In we capital utilization will the cash continue alternatives shareholder balance

Now let's the financial annual talk quarter results. about and

compared For segment $X.X an million year, The to the the reported XX%. year, an compared increase last $XX.X of fourth of to XX%. quarterly $XX.X quarter for quarter, revenue we million wireless of last posted revenue increase million of same million $X.X

quarterly Our reported $XX,XXX year. of revenue to compared Graphics $XXX,XXX last

year, $XX.X last an million $XX.X increase compared For to was the XX%. year, of million fiscal revenue

the in wireless of primarily result a The SafePath revenues increase in was platform. revenue growth

the third quarter revenue the SafePath resulting sequentially XX% guidance XX% revenue quarter to of XXXX to SafePath of from and $X.X by XX%, compared in of fourth During our revenues range million. exceeded grew

on growth based which actions We activities, Sprint center expected retail marketing includes call expect recent SafePath and revenue dependent promotions. These to continue execution. on and are continued

to as continue support efforts We requested.

to and when activity, including Circle sequentially revenue, the we the run grow of to SafePath XXXX of XXXX. current rates approximately quarter the and compared by on Based XX% XX% expect quarter the in to acquired first fourth

XXXX grew XXX% from in SafePath revenue approximately million $XX fiscal-year, $X XXXX. XXXX to the million For in

sequential revenue This by last $X.X guidance our During to increased was fourth quarter XXXX, million. quarter. with VTT the approximately of sequentially CommSuite activity in-line the and provided subscribers X%

provided third-party million activities. with XXXX. which slightly stream Revenue year XXXX. the the was flat fourth and are with we approximately XXXX dependent VTT CommSuite $XX fiscal subscriber Android previously be from down current in to variable VTT CommSuite and XX% Advertising on the approximately increased is Based for XXXX uncertainties currently on expecting the million base, For revenue during for $XX activity a quarter guidance. to to This in-line CommSuite in was $XXX,XXX

XXXX with This XX% we approximately XXXX, in-line in to For was the year XXXX. in fiscal as $X CommSuite Advertising million decreased XXXX. $X decrease expectations million entered from

$XXX,XXX $XXX,XXX. first We expect and revenue XXXX be Advertising of to quarter the CommSuite between

promotional The existing pressures an launch X revenue and a announced previously mentioned U.S. Mexico. X AT&T contract quarter. a sequential in with the fourth the the decline contract campaigns was for device from to related Tier loss $XXX,XXX approximately delayed of in contract, due competitive recently was revenue Tier to directly ViewSpot the of U.S. and decrease

a separate revenues of As fixed related variable. into revenue fixed is two generally revenue. license is and ViewSpot portion and recurring fees of to reminder, the categories, The the we the component

campaigns and The revenue of resulting revenue predictable. is promotional volume the and activities less to variable portion related device bursts in are is of short the which

year within for increased until the Based the down approximately are rates customer XX%. on which acquisition ViewSpot prior expect run provided fiscal revenue current ViewSpot was XXXX. previously additional million in to in to XX% the XXXX our XX% $X.X and XXXX, to be For flat $X.X of we guidance million to from XXXX XXXX, wins to range revenues announced,

For gross compared of XX% wireless was compared fourth margin XX% for million profit The margin direct quarter, the in million was the $X.X during the to last to Gross revenue. fourth year. same quarter last gross result increase higher $XX.X year. a period is

gross to For $XX.X last year. during was $XX the compared year, for year. million was fiscal last million to compared Gross year the the XX% XX% profit fiscal margin same period

expense. to fourth increase operating last of was year. an an an Operating quarter ViewSpot increase in resources to grew last an increase to our was compared million and $X million XX% $XX.X in year expense is or $X.X or expenses and expenses expense for the compensation An compensation increase The head fiscal for XX% an increase increase as in $X.X non-cash non-cash related XX% stock of related expenses in million, count amortization year-over-year. business, primarily current in the for increase million year. the Operating expense compared for and

aggressively all markets. to and of continue We resources hire recruit in our

We the integration platform, run device around and and the resources operating integrations. additional SafePath Circle additional will of code in additional the will a continued continue resources focus current rate. quarterly to on expense This headcount specifically invest growth result SafePath with IoT

income non-GAAP for net compared fourth quarter year compared income a The quarter earnings non-GAAP income a year. million loss $XX.X The year. $X.XX last $X.X income or earnings earnings fiscal net zero pretax fourth compared share The was of million to $XX,XXX was loss year. diluted $X.X non-GAAP year diluted the a non-GAAP million for income last of to or for pretax $X.X of non-GAAP last fiscal the net or non-GAAP cents of non-GAAP million $X.X pretax the to per last $X.XX to was share non-GAAP was pretax a per share year. net for $XXX,XXX or per per income $XX,XXX million The share $X.XX compared loss the

non-GAAP provided a have we of GAAP our to comparable release, reconciliation press metric. the issued most metrics recently the Within

and non-cash. some includes the of Stock For reconciliation of following acquisition amortization $XXX,XXX, the the are of the compensation intangible expense fourth $XXX,XXX, of $XX,XXX costs adjustments. which quarter

million, which $X.X non-cash. includes For the and dividends the costs Stock $XXX,XXX, preferred $XXX,XXX, of adjustments. intangible transaction of $XXX,XXX compensation are of reconciliation gain Poser the acquisition $XXX,XXX of following amortization fiscal some of of stock expense year

Due to taxes. few our foreign due over is to loss income the primarily years, our GAAP cumulative tax net past expense

we a was the expense $X non-GAAP was non-GAAP $X million non-GAAP and year XXXX. expense For tax utilize resulting fourth tax rate XX% purposes, for The tax quarter fiscal million.

tax we which for non-GAAP For utilize rate a will expected percent, approximate XXXX. the XXXX, rate is actual tax zero of

review. my concludes financial This

to you Bill. back Now

Bill Smith

Thanks, Tim.

Now let's further about core talk our product suites. three

my mentioned delivered the January, at for in our Conference the during year. As presentation I within expectations Needham ViewSpot

pressures we of quarter by one revenue However, competitive fourth accounts. ViewSpot the for was impacted experienced our at

of growth for is soon Deployment the Mexico. proceeding pipeline our indirect the announce direct their retail were excited and thousands product, and business of of is locations we as at deployed of Mexico adding channels XX% with Device for retail also excited win dealer to see ViewSpot growing a AT&T and locations where stores retail ViewSpot expansion at XX% We locations retail to well well I up deployment. operational. a by said, our That we'll ViewSpot. see about am Alive of the the to Verizon meaningful product authorized

current the ViewSpot significant functionality to grow made roadmap new needs product, have by We to the investments the adding the expanding throughout fit market. in of XXXX

needs degree campaign and remain of seek are power second testing a around faster approach several launches, quicker on market. a on As automated significant last a within quarterly but There This there highly are at process features. of services limit changes. also high professional prospects but still mentioned of different prior the customers results want who very call, delivers conference use and the I we content costs provides that to devices the seeing accelerated value different lower number deployments does a that proposition

proud pleased I carrier the by with product entry are at national from the development a we very level of feature by city, at pricing a single is that headquarters capability location. Overall, dynamic automatically side a on or market needs. new am addressing made our to region the pricing by adjust allows progress One store, these

to We new throughout XXXX. announce expect wins ViewSpot

for the with to the both coming deployed expectations Sprint met Okay, Boost at T-Mobile new of CommSuite talk quarter in to let's CommSuite Dish. is the part about be CommSuite. soon and third soon quarter. line of part be at

to We map role to merged ensure are both entities a hard voicemail in out visual providing services. smooth working the the effective with new carriers continuation CommSuite’s of to transition

a Micro continues stream the CommSuite in XXXX. that product and potential excited customer pleased remain for are to carrier We about and generate profitable new Smith revenue development

let's talk Now about SafePath.

fantastic the solid $X.X our year and $XX.X on XX% exact year, up growth XXXX as to from Revenue for at up Our million fiscal be a quarter million XXX% SafePath quarter-over-quarter sequentially XXX% platform over engine. had basis. to lead – our actually and came a in in XXXX overall

to growth of of we our the now success early a long product. have runway quarters we We in have consecutive and as team, ahead. are the testament still our that our a Nonetheless, growth customers, of stages eight curve believe strong and delivered

our Sprint. marketing The advertising, The goal a app SafePath and messaging, out shortly at growth subscribers ahead social campaigns underway set the by driven adding several With as continues new plan of new media already to online to promotions, onto of such deployment by of strong expectations. in-store efforts growth be new platform. with Sprint delivered all roll in initiatives subscribers

providing the bringing expensive technology We've work. business us family deal with premium by best-of-breed attempting closely to Many the launching developing we talk and platform. maximum the a customer it recent upgrade activities an have Circle’s minimal slow to directly transformational to the a enhanced Smith as so free, paid models, of them to and leaves simply then not for to by This competitors. absolute competitor exposure operator a safety revenues consumer. Micro base model why on does cost studied Most with for about of model. done campaigns sector and offering and have users the tried to with It see our me leads acquisition This market

Some choice the operator within that Marketing prosper both to Attempting market of mobile with a very market great operator of massive few have the difficult. role. provided patience. drastically Circle value requires partner positioned and dedication and a consumer we opportunity. is execute compensate strategy made operator tried Smith Micro us to and is by is mobile marketing the mobile operators. and undertaking a added successfully to their to services to the with selling players selling our and one market that expand through are the to to mobile

a in are play vision strong serving this market growth. and enviable platform not the an to digital out. is sit can that the such We that propel position. see to Our is win simply create family idea our and for SafePath enter safety the back our market, exactly not excited big an lifestyle with we to is family why XXXX easy

So First, it Sky customers, high T-Mobile on our United base in does new acquisition the adding Smith this to customer two level? bring a USA Kingdom. diversifies by what Micro key and

it merger addition, de-risked In on both us the the consolidation. sides Sprint by putting of T-Mobile

Second, on a controls to and in-router into iOS parental extend significant both Android parental us powerful on home technology with gap same controls fillers implementation mobile the us it the by robust brings platform. providing provides and

about Home complete but on now planned position for strategy a our SafePath and the that with killer have We have us platform we licensing, we spoken the technology. accelerates own significantly market. This roadmap the in-home

cable, coming satellite half best of quarters each we for that market of powerful a operators will a Connected that for code combined brought XXXX. launch new will see of will blend what the base So in what be second as for you see SafePath X.X mobile Platform together the the in in most is Life and white-labeled the the solutions,

into of press release added was XXXX, they our a note business in I minimums, diligence Let's which customers and to new have as we for for excited is million Circle contracts say I to directly working also relationships. am pleased $X tied the that flow. to well. directly are customers I a with time you that their with saw guaranteed Circle need approximately both us. that these as expanded customer look we lot which revenue XX should in note during at of the both invested frankly spent significantly operator two did has want the startup cash typical customers with they that In process about

done. be or not with will to contracts the updating our forward I to XXXX to you working We account. contracts look in these surprise align have be share year. rev more our subject will per progress historically on throughout license a we This either user

Micro we excited Smith closing, and the are very business In entering case bullish and about beyond. XXXX

should software lead great us execution a allow real is in about strategy place, plan forward. execute our best-of-class get We statement XXXX delivering have operator a team it by and going role poised make but and great was done. are Business we mobile continue to going to here to to forward about a XXXX our year, for market the customers. our to

call said, Operator? that questions. I for With will the open

Operator

question [Operator Roth Instructions] Our ahead. comes from Please Searle Capital. Scott first go with

Scott Searle

it done of to Hey, looking starting XX% at in XXXX I follow-ups. Does good then safe in my then in should Nice in into subscriber in XXXX. Is organic did guiding on the To growth XXXX the front, point in within of of beyond? into in I storm you're we talking you guys. get be extending sequential the related see to And guess, Circle $X Or pricing. expect you're much baseline? discussions you clarify more million couple I mean that for thinking to afternoon. have had the for And that I XXXX. per quarter, the Nice kind know about right Thanks for, out dive a Sprint? XXXX? question. XX% SafePath something wanted Bill, number that, the what's to SafePath-Circle recalibrate and kind to how a there. And then, to indicated, haven just they that for some first quarter. to that growth Circle number

Tim Huffmyer

Hey, Scott, the question. for thanks

growth of sequential, you $XXX,XXX there's off, First guided can roughly that into Circle build the of that number, in revenue model. your to so XX% in XX%

year, far that contract from our expectations those time As and that your that go like on add for the when think comments million we annual line expectations how renegotiated we and let as may look through may an Bill on expectations. look is a back rate talk I Circle about as $X number happens. I'll until event what run come

Bill Smith

think is Sprint. have large I installed the it new to at you T-Mobile I'd very the Yes. base way Scott, a coming look over this from

an side But at T-Mobile. coming to have is You as from large. Circle the over new base Sprint installed size the well the T-Mobile

be going there that two will meets to there work a at the will a that need be a to forward. different of And product financial T-Mobile new that products, So needs the with T-Mobile. the a provide these strong need time, that single up out reconcile new opportunity also come deal to the I with would expect

we that them. it And be as to those it's on as technologies for. far growth, of look bring forward were the with but of some and well smaller to to not installation, we need working to paid that with them try think Sky, present course, we As have Circle a new has to

I would half that second kind think offering of them. for So and it. of launch cases, needs powerful the will to in XXXX. of to and product And be that. that And a for look done, will In we're paid we the product be obviously, really we're need speaks like it building what the there we I how we market, is think at both single, that's a

Scott Searle

just And helpful. follow-up, Bill. a maybe Very you. Got

and location terms like it like In too, of it now you're sounds from from best-of-breed getting to platforms some there's that's integration together. both and worlds code parental SafePath Circle, required, the seems standpoint source but controls, bring in the a

associated So those that given following and XXXX? on sometime I is reaction in carriers? the you've we and the line acquisition, integrated carriers? got that guess, expectation out a marketplace and ability expecting And sets any Is And the then upgraded? be are When that? that of the time feature to got there front, the with up sell the be seeing from in in should there of is you've inbound that wondering terms I'm what to additional other if source code and call to then you're level restrictions that to and incremental Thanks. some go

Bill Smith

Okay.

staffed off, fully have a to First we merge and base. underway the code internally project

are to product go We to such a testing to third than on course next fundamental try from we launch year. through looking this of completed basic quarter in another are a in the quarter standpoint that quarter work to and the the have that merge integration

kind the that's line. time of So

happen. very to a effort underway have We focused make that

launch goes We also, for big see the the and on growth SafePath in-router we time at same that also another side as Home top. engine the then will that capabilities, we –

spot As this to kind provide We it want far carriers to other of as with one really open home sits effectively are nobody are in that dominate space, other do we they serious. think that leadership. and can carriers, is want we to if that to I that There our that. that is lead, message that else there's drove is

growing help So I talking our customer in and I that in base, XXXX. forward us is to merger to look significantly believe going about that this

Scott Searle

much. Thanks, again. quarter Great. so Nice

Operator

Please with comes Riley Josh Our from ahead. Nichols next FBR. question go B.

Josh Nichols

with my or just or taking OpEx are kind the for particularly trying ask, great to with revenue? below XQ. get SafePath with growth, the and did EBITDA be I'm – the there a additional really on like associated want that much did since acquisition, are platform expenses the the I to Circle were of of business. continued Circle question acquire you there in EPS expectations strong handle to operating the top going see line, Thanks what profitability to Yes. for looking

Tim Huffmyer

good Yes, – Josh, question. that

integration code Bill activities. mentioned the So

specifically in we quarter third in expect as the should that second in project. our code the you increases some higher-than-normal and expense So operating integration trends, invest

the with We we hiring continue going are that on internal initially related did separate, similar aggressive staffing what but front, our to to but last operating expense. Also, resources, year. to we're also

costs As Congress, associated different a do with first OpEx in instance, we already. the Mobile lot conferences. didn't. first quarter, have reminder, would World This rate it But have those sunk quarter, are in typically the year for a higher occurred run of

a there in outcome sponsoring which also, that. We that just largest and pleased So – And about our but really of to specific team. to sales for be we the in extra customer extra their an a event, with was event an year, participated first that conference this reminder the hundred associated sales couple that. quarter thousand were will

a little on that color So just responsive. Hopefully, OpEx. was extra

Josh Nichols

That's also did be then cause three And clear, how you guidance very at material about the to overall guidance gave it – wins? going that assume helpful. assuming company – And the did any doesn't feel prospects the the about forward? their does about that, that want I would outlook I And outlook that for new updated point? an you include not Thanks. business talk units, to that I'm of some but some good gave

Bill Smith

Yes.

about new move wins on fact wins say some XXXX. the we positive on done we I active we through be our focused but in and are turned side, that the provide As hopefully, will giving since expect the you around more we, have new guidance that SafePath the not ViewSpot news baked as we've we that, we wins up on last that hill, and side, think year, the on very we goes importantly, be very in ship we will new started that over talked I we moving and would significant top.

Josh Nichols

compare stacks you how Voicemail about want using? currently right, for think is up Done the on CommSuite growth question Visual with job what and immunizing, to the the kind me. briefly a offering last T-Mobile then I you SafePath to that also did going But risk what ask, then and great of And Great. could forward.

Bill Smith

Yes.

Okay.

CommSuite the focused T-Mobile younger, is on So somewhat a not Sprint as and things than Voicemail which – maybe like base, customer what T-Mobile has has. first side, on quite off, has Visual therefore,

So ours stronger and have think difference. actually that we'll and how offering. is an They there's out. better, I probably see one works

customers one with new other CommSuite, being T-Mobile, the forward being going two the Dish. have We

think I that think going of Dish, well to I I additional it's for areas XXXX, we're for generate see opportunity be for we'll received This one an fine and think we'll and those T-Mobile. forward. is that revenues, develops how it

Josh Nichols

Thanks. baton. me. That’s all from I pass will the

Operator

[Operator Jim question go next comes Instructions] from McIlree with Woods. Please ahead. Our Bradley

Jim McIlree

thanks ViewSpot in The trying had in I'm Yes, in problems the in quarter? much the early or that did that customer afternoon. and had good how QX? that to late QX impact loss you of with customer occur gauge QX,

Tim Huffmyer

It was early.

Jim McIlree

Tim, right And in CommSuite you get based you. hand Dish? guidance have much what far as assuming the Or Thank that are now? you of guidance, as you the on from is anything

Tim Huffmyer

in on now based have hand what and we run right It's Yes. current rates.

Jim McIlree

handle little inherited just on an of merged will by trying prices to you talk the maybe the pricing prices user, SafePath of that say, the let's offering have dynamics can the the impact just renegotiation bit Circle, Circle obviously, the obviously you how you understand is, with Circle of have trying deal. Okay. has – happens to as have versus that and Circle about Can understand Thanks. of what the customer a end the to

Tim Huffmyer

Micro relatively go right? Jim, customers nature, how So, sorry, So I'm are Scott the in fixed deal with the to Circle they now regardless market. Smith to – of

variable is to subscription, of other nature. coming some in some premium one And are that component, being mostly of going Sky as as through market them but the us is The slight deployed has of a has back it customer a offering, T-Mobile deployed a premium it's to market, one them one right? deployed subscription, with the offering. going And to it fixed market fee then a has are a There's it to fixed. them mostly that –

that an offering into service they're additional subscribers, it's So their premium built basically.

So fee there direct deployment. to necessarily a correlation that isn't

Charles Messman

Yes.

for I what think their that is cost T-Mobile, at charge the $X.XX they family.

Bill Smith

It's same. basically the

Jim McIlree

Okay.

whether $X conceptually, a point, user the start you point, out that migrating revenue type let's just call we'll year, revenue. in. go have near some higher as per at of fee? potentially we a I contract. too or the pay bit customers might that a who I fixed So I Or transition being But knows. mean, it, figure a the fair to you to Is as of you year, At not little pessimistic? look million of we have of that issues to am want mean, the it? through to end have maybe And that at new coming that to way migrate

Bill Smith

Well, at a it. way it to is look

it And I as some desire what difficult is as think that that being I task that don't I there have I a I – long the value functionalities think of that, to And as part a strong see of that's that T-Mobile necessarily there. rational. had the is happen. on Sprint already think everybody expect will and therefore, there's

Jim McIlree

you're is contemplating you're at that no my targeted a right most least that Tim, on additional the projections, Got for like seems, Also, cash of year. acquisitions platform? there use Or healthy of amount going it. it to looks now? Is generate this for specific it

Tim Huffmyer

about to Yes. In Nothing value the mind, specific opportunities our would preservation the at we capital at amount, my acknowledge really net and that. cash in protecting it's term, had, and Jim. this paragraph, And short point, how opening deployment generate did much I the a we're constantly was and that. future one those, transaction profits. Circle strategic looking add Obviously, of we to platform to strategically in – the deploy

needed. to that evaluate we'll So continue as

Bill Smith

additional can think also investment need to point will where made about support that a might want we carriers those this it way another as be to be think we closer I well. is, Jim, to There will carriers Actually, to to product. large to who as get deploy start see

buying – growth. also competitors about new customer is just not maybe supporting it's about So

So it really cuts both ways.

Jim McIlree

Right. that for Great. it. Thanks reminder, Bill. Appreciate

Okay, quarter the the on the good luck acquisition with congratulations and well and integration.

Tim Huffmyer

you. Thank

Operator

remarks. closing to to would our back conference turn over any I concludes question-and-answer for session. This Charles like the Messman

Charles Messman

to we'll there, later. I'll Again, look on to happen the today. I conference, sign to with joining Thanks, quite we'll also forward thank Roth please to up, talk want quarter to you you Till note first soon that be us you. guys. actually if We'll talking so our attending everyone call. for chat we'd then, love be

Operator

now for has attending today's conference concluded. presentation. you Thank The

You disconnect. may now

Smith Micro Software (SMSI) 5 Mar 202019 Q4 Earnings call transcript