SMSI - Earnings call transcript Q3 2021 | Smith Micro Software, Inc.

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Operator

Good day and welcome to the Smith Micro Third Quarter 2021 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Charles Messman, Vice President of Investor Relations and Corporate Development. ahead. go Please

Charles Messman

XXXX. and the us operator results everyone. appreciate the September We the received should Thank copy results. a as good we joining of XXth, ended XXXX today quarter release financial now, discuss you you third have with you, press of afternoon By financial Smith for Micro's

and today's and Chief Please Bill Smith of would visit the CFO Micro; please Kempton, Interim Chairman you not of Fox, our at future Board, hear development, who today If discussion those plans, website Finance; the Michael one, President, company's including, strategy, of our and migration, business reserves, recently revenue statements, do new you have new that expanded new have like our and/or a developments, note regarding on of forward-looking future call, www.smithmicro.com. and growth the of by during our forward. profitability, opportunities, position On Relations completed acquisition Smith, copy section and product of future product Executive without Officer we information and existing customers, limitations, our expected consist XXXX. market going impact of Vice and expense, and the President Xrd, Investor some joined our financial cash November operation, will Jim company operating new

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

release no any which public our offering. beliefs XX-K only For to recent like I'll That with will to press the call I'd made. turn Micro and filed forthcoming factors the refer to in assumes earlier over remarks, to reconciliation of final respect of financial more that included non-GAAP our prepared point recent information, measures. today please said, Bill. and speak obligation filed we non-GAAP forward-looking Form our these to as refer management's risk update the to our a certain assumptions financial refer statements, our Please disseminated Bill? for to are to Smith prospective out measures. in they date the

Bill Smith

good for joining third Thank and us quarter Charlie today our earnings XXXX afternoon call. Thanks for you everyone.

was with fronts. overall for on progress several third and the us quarter earnings milestones pleased since we our am the I busy very significant Our call. last achieved

T-Mobile Firstly, announce for platform. I'm X, have excited powered to commercial we is to U.S. terms with agreement come an which on our that by FamilyMode SafePath

things we giant all getting merge. control. are T-Mobile expected pleased took team our this aware, longer than very outside due agreement the of we Unfortunately, much tend As these coming agreement happen am originally and to with for when the multiple delays I to Sprint two like done. to corporations

looking for There forward soon several that call. X, T-Mobile-related Micro. to activities will I launch which other the driving Smith now are will of We revenue later start FamilyMode discuss are the in

AT&T closely app. plan the I made their am the fuel team delighted to with front, new growth we've Secure On a build with for subscriber Family their to progress working

of XXXX. AT&T developing SafePath platform to a on the end We are our launch plan before

to quarters. contract. Mike specifics more AT&T to in his related with I remarks, During the the will opportunity earnout great provide on coming see expect AT&T ahead the

Avast of CMT, with in Verizon a family several partner became first of to offering. part Verizon, our the our able fronts monitoring and on the Tier launch major first family Safety we safety technology carrier danced also feature with acquisition driver launch We as the were which X Family to business. since functionality safety new U.S. Working

to base was drive for new merge Smart existing to We the user we SafePath plan the also we efforts while new launched during This accomplished growth to promote platform. app. to Family quarter As Verizon continue marketing the Smart all Family subscriber onto continue the

white-label it Internet a lifestyle, just that market Things, digital the offering opportunities comprehensive consumer beyond our generate strive are far the the in because and two the entire solution including family's application. the Smith total increase Family digital home provide goes infancy for We of stage for smart Safety of vision a would markets would the for to their focused carriers particularly and lifecycles. addressable more strategy lifestyle We're revenue Micro. on Our

when Now, quarter quarter. to a compared the viewed let's in last Non-GAAP basis increased the approximately quarter-over-quarter increase. breakeven. financial take was $XXX,XXX. or third share for year, which $X.XX per net results $XX.X came equates loss to a a look for $XXX,XXX, same the million million at the $XX.X Revenue XX% at Revenue for quarter on

end a balance quarter of occurred cash Avast paid the contract to after end the of at subsequent the the Our million, the was for quarter. earnout AT&T $XX.X

turn let's Interim now over analysis to quarter our call quarter more who Mike served financials, the the during third for Okay, of third Mike? CFO as in-depth the a

Michael Fox

and Bill Thanks good afternoon everyone.

which you Family comparisons impacts the in period-over-period the quarter, know, today. the covering be that As business acquired we I'll second Safety Avast Mobile

I'll changes quarterly such, As to our some additional on highlighting context be sequential provide also the results.

quarter. let's the Now, financial the of details cover third

posted quarter increase compared When XX%. compared of For year, for to to the last up X%. revenue of XXXX, million $XX.X was quarter an the million we revenue second $XX.X quarter, the of same

last was of revenue to the increase For compared third an million XX%. million year-to-date, year, $XX.X quarter $XX.X

QX to call start increased third than the said of platform. Avast executed our T-Mobile later than and second as in was launching we of touched Family completed anticipated. which on lower XXXX. version very T-Mobile our That a related and SafePath Bill reached of of the to the this month, was agreement Safety until commercial of increased are Sprint expectations the reduction Mobile Family subscribers. year revenue communicated increase compared was being third of revenue year. legacy Safety quarter increase SafePath primarily the not we at new platform was declining Family million agreement that excited quarter by related of Mobile slightly to X% and of to last to offset this had quarter our in Safety This our have look was XX% that was on The sequentially forward This business the compared Family XXXX, business revenue last to increase the to with FamilyMode SafePath continued $XX During Avast quarter Safety acquisition inclusive the the

reminder, the on all quarter. initiatives to products, to expect current focused trends Safety October, our branded be As are In only Family include the a Family acquired current marketing which not upcoming products. Safety on we newly third revenue compared to X% based T-Mobile through subscriber branded Sprint up quarter, flat and products the the

legacy CommSuite from the year. was XX% third to was the number platform. greater during lower than revenue a XXXX, XXXX, -- expected quarter the platform due During revenue Sprint of the last offset to for of leaving quarter subscribers which platform quarter. VDM the advertising great decreased to third better-than-expected This was $X.X quarter revenue Compared of the was CommSuite and second a XX% million, of down by partially CommSuite

CommSuite-based CommSuite to to Regarding services. driven the continuing now for is loss T-Mobile and down clarity see of Sprint, revenue. more the service move legacy by voice impact subscriber to are of wind This accelerate, Network the from option our beginning having have Sprint fourth quarter acceleration subscribers will we which

the continue As decline. revenues more Sprint network, fourth to of anticipate and will this of CommSuite-related We subscribers more quarter to off the accelerate continue decline revenue XXXX. transition during to

comprises to third DISH this revenue Sprint be of currently platform We to of result, now to As part XX% approximately the down next of the XX%, expect sometime currently and to CommSuite quarter we of reach formerly XXXX. the deployment year. by Boost a end-of-life CommSuite Mobile, middle compared expect owned revenue. XX%

our platform relationship voicemail strategic and with and future towards using services. premium we'll visual the We subscribers number DISH DISH our at are Boost of in to working for grow aim expanding the both at CommSuite

primarily variable June reminder, with XX% approximately increase a was than out rolling the the quarter for XXXX. to goal in to quarter the This related seasonality network, primarily expected revenue fourth XXXX. to in of U.S. quarter. XXXX, covering the This higher compared is of XX% associated currently last a our XG variable population and DISH is to revenue X current As was ViewSpot lower with of was revenue volume due of Based up ViewSpot quarter our third this to lower when to Greenfield XX% of the second its by third on to customer. activity higher related communicated revenues Tier decrease quarter $XXX,XXX with of our process be a revenue expectations outlook, the expect stream. compared we in XX% fourth U.S. quarter the by

approximately of quarter XXXX, compared lower be of overall fourth to quarter third by X% to the we to consolidated revenue the For XX% XXXX. expect

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

this run Family Safety be Our costs achieve be gross continue expect business to Avast we gross goal, margin this and service will through other energy execute longer work XX%. continues rate. margin term short-term, to for contracts acquired In third-party goal opportunities. the merge on we to newly To the application we and as Mobile near current

headcount year-to-date XXth, third an profit margin corresponding million ended compared ended in was of When year. for was acquisition, in for expense for operating year. increase to increase the intellectual $X.X transition last XXXX, during consistent $XX.X and XX% operating XXXX $XX.X year-to-date the compared expense Non-GAAP XXXX primarily the XXXX; the million expense at at quarter last the second of to million, period operating or the XX% an year, period related was to XXth, year-to-date driven to XXX acquisition; XXX% related than the $XX.X of For a third in $XX.X $XX.X to the related the compared was during period. $XX.X the period quarter employee of XX,XXX second of the consideration of last compared sequential by primarily or last Avast year-over-year, the driven XXth, year-to-date lower basis, of for were operating of the with the third quarter XXXX the of cost XXXX, last the an compared in $X.X million operating primarily period September acquisition operating of due also CFO amortization GAAP was by quarter increase an $XX.X ended of non-GAAP related operating September increase in a for GAAP million, certain the the by compared increase $XXX,XXX; Non-GAAP $X.X million last business. Gross costs or XXXX. September gross or million, million compensation GAAP Avast quarter of value increased the employees or The million, increase XXth, million. to XX% an as of to primarily to for compared quarter driven $XX.X increase charge in the year, XXX to of XX%. the and XX% property contingent expenses the sequentially third the September acquisition. expense is resulting $X acquisition; expense year. of was was Avast the by quarter for $XX.X which year-to-date non-development an end On X% of million, to quarter third XX% third addition fair related expenses, to year increased $X.X primarily expense million, $XXX,XXX; million GAAP change acquisition third to increase of an million the quarter costs end

perspective breakeven $X.X net breakeven an net EPS to EPS non-GAAP income or perspective to from the is was the fourth third product loss expenses The to revenue earnings family was last net non-GAAP for earnings X% per and $X of additional approximately we year-to-date preparation of sales million related marketing per $X.XX $X.XX The as operating the income non-GAAP compared or safety or quarter. a the mostly year. support net a or million for XXXX, diluted quarter launches. expenses, non-GAAP than we $XXX,XXX and overall share increase an compared X% expect last income quarter year. to of be The for expected $XXX,XXX consolidated higher third For new diluted to from non-GAAP share

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

million, of renewal, quarter, million intangibles third Avast non-development of items. of some the For consideration to value million, change $X the of AT&T reconciliation fair of Stock acquisition $XXX,XXX, includes property which are acquisition for of $X $X.X contingent CFO the compensation the contract transition the the adjustments, resulting related amortization following non-cash expense of the the in $XX.X from and costs certain million. intellectual costs of

related amortization Stock of ended non-cash $XX.X items. transition of expense compensation following includes million, $X $XX.X the property allocation. period consideration discussed million costs company million, year-to-date the purchase the September For working $XXX,XXX, acquisition The is Avast of and fair to Family contingent includes formal value which $X $X.X XXXX, XXth, of million, reconciliation of intangibles business costs currently adjustments, Mobile the which the are Safety intellectual some costs the change million. of in of of non-development certain acquisition-related previously CFO on price

second goodwill, amounts GAAP fourth and made and state the In to quarters, to adjusted quarter due assets, and purchase of certain be will the intangible taxes. third XXXX, expense. estimates allocation. price income final the match the among During we is price these foreign estimated amortization to The purchase tax expense allocate

million a as sheet $XX.X tax cash and reflects utilize equivalents X% expense the September XXXX rate for XXXX. of during income period. balance Any expense From For really XXth, we actual of taxes we cash non-GAAP perspective, purposes, tax the reported non-GAAP XXXX. and resulting each

As portion to grow Safety of review. positions This in which of our the Avast subsequently earnout Family this Bill the mentioned with the earlier, $XX.X remaining my us financial paid major amount we carrier. concludes million, solutions have to

Now, Bill. back to

Bill Smith

Mike. Thanks

finally saying we we The new and on to for agreement I happy what regarding earlier, everyone that stated is I As in with FamilyMode. to a all focus I'm one with incredibly I work last launch negotiations the reached look some to It year, expected delays. of we Smith want to U.S. agreement that largest FamilyMode T-Mobile future line process investors commercial as we us. thank T-Mobile's with started Micro call, this report merger goes have their patience I'm expected and with this deep our without the have forward contract our Sprint through glad the we negotiations When customers. shifting to behind of of cause to X.

SafePath time current base FamilyMode configurable location-based functionality, the digital exist reminder, scheduled and of to tracking in such location subscribers product. rewards, T-Mobile Circle X strong based parental legacy such functionality, limits, a the control is safety code legacy do with provide controls. version not screen will FamilyMode on and screen-free times. real-time provides powered alerts and As will parental extended the and family X controls and by as be areas, as addition Location breadcrumbs, safety

have in X XXXX. we discussions still in early T-Mobile the timing our that support. of launch as as more carrier, regarding timing, we will end-of-life subscriber our the the of While migration discussions expect we get with marketing Through are launch regarding legacy with that and also begun customer begin Safety possible other some to clarity Family to FamilyMode apps and QX we extensive continue

Sprint the we Locator one was we Sprint. Avast T-Mobile with During the month, Family Last older products acquired. quarter, we apps T-Mobile's third and have request, the the different Safety Family that of discontinued at legacy app, four

acquired Avast, As value you we when legacy may we products. recall, the no gave to

quarter and minimal. of Family as impact come will the will overall grow, this not should the Family Safety the Sprint impact quarter this in first fourth Locator of revenues The event a So, the as XXXX. be of shutdown have short-term revenue surprise. But a

remaining with carrier's the shared migrate and T-Mobile With three integrated product. FamilyMode billing the SafePath-based goal over bases, into our to to is which user are X their system apps, the larger

As we that roll XXXX. a real efforts, to will supported strong growth FamilyMode X, integrated I'm by see we out start return in marketing to confident

to eager a get and an finally long quite been going. aggressive in in are have we're works plan here. for the such has place but We This time,

update version Tier Monitoring let's QX, Now Smart that Family well successfully this the customer, worked Verizon premium Driver app. monitoring, Wireless. Verizon driving we features the as include scores functionality, to This app. set detection, driver family. of safety of Smart all The their included included a the family include behavior carrier safety second making our launch Safety notable major and Safety first about talk Verizon app was carrier-branded member as with now X each personalized automatic in collision Family to latest feature Family subscriptions driver as for alerts, In

Verizon quarter the to awareness marketing team Verizon feature Our new marketing with of launched set initiative collaboration during this digital with third subscribers. in new raise

early SafePath working XXXX. to code sometime digital will final this with happy of the I'm how fruition updates, close Verizon over come them on with efforts, are to and closely Family report Verizon's to my most we These quarter we campaigns are Family QX stores. in carrier planning To and stages Smart promote some In corporate-owned retail-based or when the our and have aligned to expect I carrier Smart to retail on migrate out users to initiatives base. that the addition

with the before we shortly effort well While slated begin we're working XXXX. details, believe the of that completion out this will still end

As investor retain on discussed to initial long-term bit Safety allowed more to of able were the we a AT&T have Family confidence as app. Mike Secure of from I financial already the to short-term perspective very down. a growing base subscriber call, expectation customer Family earnout shared simply, I Executives in, AT&T that business to growth the winding during without would what our committed a me opportunity are that last ramifications see earnout the for be Put the wouldn't after allow Smith I their and provide Micro. positive as they investing

Over a base. around with market the leadership had AT&T subscriber level of regarding how to productive for growth Family, few experience strategies I've addressable our digital lifestyle very the several expands and past particularly highest platform at full the discussions months, delivers Secure total the

in lack acquired potential of to Like the we SafePath believe the Secure is growth suffered Family user on of other also Secure years, transition I deployments past Family current marketing has Family two a from team the immense. Safety a the support. migration have several the working detailed platform. plan is Our here to base

the I engine am forward, growth going can Secure investing acquisition the Family and get next significant year. we base drive Now that subscriber expect we in user appears marketing AT&T once confident that of committed to going the I new

platform, our DISH continue to messaging we contract in discussions voice CommSuite, with the X on Moving Wireless. operator to America's newest engage Tier

out our have premium text process the voice multiple understand sometime control, that we some DISH in CommSuite-powered to are factors, of While opportunity voicemail visual at and remain launch involves XXXX. that will of which to an approval services we optimistic we

to to voicemail the legacy best we service Sprint now used visual more our have the to continue legacy accelerate by the subscribers on XXXX, CommSuite clarity guess service began Right timing migrated expect have end-of-life. subscribers, Regarding now off and some in this is of that still our platform. migration network will of most quarter of beginning in T-Mobile's third and sometime of This to the September. accelerated an

revenue a numbers first QX to was impact a our there quarter and So, impact. to be QX reflect full the will quarter

I'm As we opportunity migrations national time estimate excited a its we have long what a with a believe very wireless out network but at on this seen product Smith can today. take our XG Nevertheless, timing historically, Greenfield Micro. build know to reflects the continues carriers, on legs DISH end-of-life scale. has still based best ahead and DISH for

start take should constantly premium task services. certainly addressable visual postpaid powered the subscribers would total While unenviable time, growing increase will for this carrier the market which soon, voicemail

it ability device Smart great experience ViewSpot. Studio experiences as talk the usability device and of product to a our ViewSpot take are pricing to next and several terms ViewSpot of Family as backend curated with about enables platform's with management powerful ViewSpot promo three preview these these carriers on utility as well profiles, the prior carriers experiences. development manage and forward bit to to such XXXX, by the provides easier remotely wireless quarters Studio, dashboard. carriers activities operations. progress. create, as Features our We advantage the plan to their especially in and the enables deployment, these test streamline level. a retail new deploy, predefined competitive and digital experiences ViewSpot of of we management bulk made let's information, during faster Now, There first progress enhancing new look The provides the capabilities some to around our sharing to platform, retail digitally-rich making platform underway evolve, set

Family you months and Micro see, and excited the story chapter I'm focused extremely As The hardworking we been few next can Tier Smith the an our have just carriers of their the made. bases we've X past Safety is exciting the opportunity. most subscriber having is Smith proud to largest progress in and about over the growth platform among now The large beginning. Micro customers, U.S., the three selling best

to call a quality less other in build each highest family carriers, than Our viewed as that goal far as they that open subs base demographic these questions. faster by Operator? the Tier Remember With are X ARPU the a millions and subs goal, supported are by to I'll the said, of customers, churn at grow important is subscriber historically carriers. willing groups. for much up our

Operator

begin now ahead. session. The Please go from Capital. will Scott We question-and-answer question Instructions] [Operator with first Searle the comes ROTH

Scott Searle

that Phase afternoon. convert good magnitude timing FamilyMode Bill, goes for to X over should what's on you of And we start So, going base? could in Thanks the should to And we line. the starting what's that expect larger Maybe terms launching, Hey, Family be just, across the Circle finish that taking and first us start quick the then expect my in then with to base? away? a quarter? switchover app of the getting SafePath terms congratulations the that Locator is calibrate of if questions T-Mobile Sprint in X with you

Bill Smith

of Okay, steps then. let's different those take couple in

the -- base be month Sprint. was approximately to felt at and in a we'll of legacy full impacts app will quarter So, app months. the lose fourth will the Family dwindle. revenue, to continued get Locator the has The we two Its for

drop of in driven million that. And about so revenue looking be at we'll $X.X off

in with as SafePath of as code the from that it'll transition think base I And the you'll as the X. a as launch see first very FamilyMode I XXXX. said, be it'll X, happen to over of Circle possible far I think soon quarter smooth As

happen the also we be Found are second transitioning and we legacy the set don't quarter part a of the of have SafePath yet. date SafePath Sprint mid of first for far X at and that As a to Sprint Avast or in The and XXXX. T-Mobile, will we Safe will stages, instance from Safe as for product remaining that planning Found, as as timing

Scott Searle

existing Hey subscriber convert Sprint first to at is -- the so turned at what just Bill of that base but will over will some SafePath just clarify that the or the quarter, in majority be you on said? point

Bill Smith

The and X will will then transition over all as SafePath our it a to over. those and X be Sprint move well, smoothly Safe Found goal base to second SafePath just instance of be folks will

also make those the that stop will on That We the syndrome we've billing to or system the people Sprint to possible work cube system. since will melting it T-Mobile dealt merger. can that stay the transition ice billing

Scott Searle

and I little expect how question you provide Verizon, of there are wondering have into you in general dollars. that to starting pricing of to engagement if like happen maybe as organization you I'm some of marketing XXXX? one if with opportunity with there, issues some if Then Perfect. that Verizon address XXXX? terms feeling more good about well rollout sounds and how any of could you're the Thanks. course going could. could the growth pretty And if in the a -- over it bit level both Great. you're them color within

Bill Smith

goal growth about base a to. we for discussions Verizon Executives developing beyond. at and us opportunity. overall are We with growth I talking over large, we joint the are think that Verizon, we see XXXX we that to the a this, large into very substantially looking And are and and installed XXXX great will march all offers opportunity grow

an this opportunity. we extreme being So, growth as see

business three going of while is growing in potential on U.S. up carriers at on on today Tier opportunities continue these Clearly, we're growth U.S. And just great there's very these So, your Verizon. focused X it's of on very all we're X, the to sell outside clear growth bullish we focus the running and and bullish at and three happening primary we're But very getting SafePath takeaway what's will forward. that Safety Family the carriers.

Scott Searle

Thank Great. you.

Operator

Eric Street. Please from comes ahead. question next Lake The with Martinuzzi go

Eric Martinuzzi

to that in on indicators? to changes the the one well. be buy-in, wanted agreement early far think stabilized T-Mobile As just the aggression deeper. of in-store, far reasons at charge congratulations folks that had I reasons know contract been T-Mobile Sprint in how the in and of part the know bit personnel this as My that due people the can aggressive some I successful of little retail they the was are one talk digital, or were what as a was the to as T-Mobile to so level program going as curious was the that as then first dive the I then you marketing So, program? of are to leading and marketing? delayed,

Bill Smith

Yes, I this guess I would look at it this way.

the are board. very people the think T-Mobile very, I'm with on come And very that they I committed to growing think this team much have side we have a happy on today. strong very business. I

they positive lost. successfully. a And that of grew base any very think are very I folks their don't grew it -- So, also clearly, know was number all people, of did things the former very, the I think is and positive. that T-Mobile have Look, Sprint how Sprint Sprint

look forward that build would X. I to growth and So, of time launch post FamilyMode seeing kind of up momentum at over T-Mobile

that we're us about my offering of that Verizon retail very, their feel stores retail I offer some prepared because into we very, the progress that. the opportunity really Also know strong SafePath the grow comments on strong in So, a Wireless. bringing the I also size to stores mentioned making base. very at positive user

carriers. these learned things over of a evenly the So, years that lot large we've all to of three applied I being the think you're seeing Tier now X

Eric Martinuzzi

dropping. Okay, Safety home, QX, you step had had -- dropping business, I for of an back sort kind flattish sort really kind and a at Family I sort modeled the modeling legacy of in in in and guys, those outlook of What the absence in -- of then then then guess, I half of of from us of and here QX, up.

like You into sound in you T-Mobile, of contract to qX marketing is other you you XXXX? aggressive, efforts flipping XXXX. step-up of that November half of up or So, was light -- in things a know But there's out and it the hammer of from puts the QX takes what revenue? make -- lean given the back the and switch XXXX with I sense some potentially still too January

Charles Messman

kind a look overview. of That's think Eric, I But kind -- rolls it Hey, good that's an over to think to time. see we'd high way love I fair. -- how high out of over that's at

Eric Martinuzzi

question. taking thanks Okay. All for right, my

Operator

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

Josh Nichols

Yes, and T-Mobile. team commercial thanks time for the agreement I worked on question that for taking a that now. exceptionally my long getting congratulations on has hard know with

You Sprint expected, is mentioned monthly high this assume share a level diving kind line was similar with you of guys revenue with you it's T-Mobile of that that is specifics. a in that into kind that at model, to the ARPU what to or receive some the without like agreement much too had where

Bill Smith

for Yes, looks very should about the strong It I that's it. us. you way think think

Josh Nichols

curious. then, was And I

growing we and expectations Or as SafePath it's quarters So, the look Is base like, that with sub over a engagement you're to is couple today? see lot of as the what's the there. it enhanced of doing next for with that, good out Verizon, kind business of now drive? additional your traction

Josh Nichols

capabilities, Well, okay, think The first of questions. of received. well and it's the been launch a really I is different the drive two that's

out lot growth that they manner. result try and message offering it Verizon, service And of a folks out fact offering get in work clear that drive. a premium concise doing to the of very are a and look with for we do get in their the We to are as at

overall onto the the X subs carriers of as the point and millions to are at where as of to at you growth getting Safety. the here -- just the millions number we're subs So, of of three we get starting look family each Tier think if are the in going to we're how about There U.S. subs far there Family

thing. very is this think I a doable

follow. And I think what ourselves. for all us revenues that we're this set operating is the need towards, the of to that's will obviously, goal

Charles Messman

we said, too, watch other on get that. don't want each individual to I Yes, thing to you customer, the have we like think specific is,

of our them Josh. I what that get helps? them, of a all see you'll Hopefully whole think So, all to rhat's goal of as growing,

Josh Nichols

for off is mid-next XX% clarification, running fair if the it's to is keeping it going Yes, that was growing, revenue, to of which Boost the be year. to going going be of to it, so and of sales to And running going other be then CommSuite mean, Not assume for or But actually all the just I XX% you're off? be Boost that's keeping to what's does. it so business, right? you're portion effectively --

Bill Smith

the portion we yet grow of will Yes, Boost comes to and the as dish the then the that opportunity another marketplace, size will provide user keep the postpaid offering to base. CommSuite

exist. So, that's opportunity upside the where

Josh Nichols

a was very happen well, some I me. sales big as and Sprint Is significantly? know, question that then with of is weight you your that to the will people Thanks. it as And job something up last -- marketing that as far think they're be expectation whatnot T-Mobile the their and I talked to that something I joint is investing mean, training And T-Mobile did good going guess is put I their going for sales about initiatives, marketing growth. this heavily? it driver understanding behind a

Charles Messman

very working time. some think Yes, yes, on quite We've Josh, this that so excited. I for -- we're all

to place. it's we think have I that So, very in a plan fair strong say

and excited I team so as we're are think about it's several from to actually part the there people important this quite note Sprint that of it.

Josh Nichols

guys. the back hope queue. Thanks in I'll

Operator

McIlree The Please question next from ahead. James. Dawson go with comes Jim

Jim McIlree

Yes, revenue going a in maintain to keep everyone. you you're level? at How bit about there? -- address order a going how to the talk CommSuite you hello, Can expenses have and that going little lower what you're to to thank expenses

Bill Smith

Well, the we'll move DISH expense right now, offering. Right, down overall presented for it Is, slightly just as think and it we get the by is business very, load the very I you'll pushed on rationalize opportunity so based see low. that's CommSuite. forward,

Jim McIlree

business next go helpful. the X platform? you. Family something by it SafePath that's end the business is Okay, all complete your into Is -- that your year that XXXX? Thank of does will of or be then all Safety when of that And on

Bill Smith

we're the over then to to of Path Safety goal in base a part to Safe quarterly is the call, unified on But Tier That the U.S. As over X know, last and of for the this goal some the I to big of carriers those heavy code said clearly our going and be large under. is XXXX. first, the is single three X lift our operating bring that conference customers move to XXXX. course into Europe end Family renames customers latter all you our have And additional on by of XXXX. get over,

Jim McIlree

have servicing in early rest does Okay, before of the the carriers, XXXX? world do then thinking on any base the about year, looking that U.S. Europe start you're is customer at working it world? the domestic wins in have like rest work into late Or wins you at the great. rest customer world, you to still do or the customer that -- -- or busy And maintaining base still -- of of you through seems next the push U.S. XXXX the significant

Bill Smith

I following Group, other cash. here as of opportunity But Avast there at think using are the that the in now, the three of the customer well the is Czech as a look, at we Well, are code big the the about U.S. the Tier cash just Italy, talked Republic, in Vodafone acquisition which result Hutchinson noth are opportunities, part the as Xs Avast in base. [indiscernible] one we're significant right And

they will migrated Now, the XXXX. of like to before be end SafePath

those a become we on public to do we're disclosure, working other will point make as have that where some can We and so. we opportunities

base, grow but is here that's the big opportunities the Tier our in following are we're carriers We at millions of our U.S., to right about you, subs And now. clearly where of sell large where that's as focuses. are continuing talking the cash where you're to the revenue and each one X

follow be The additive. and others will

Jim McIlree

a me. it All That's for lot. Thanks right.

Operator

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

Charles Messman

a questions, I us week. us Should We're for to ROTH out joining Conference please reach you to to in next any today. everybody want participating feel have free also directly. thank further

we'll Thank there, to Everybody, you. you. you're look talking And we'll call. have look if forward earnings talking on a our to day. to So, next great forward

Operator

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

now may disconnect. You

Smith Micro Software (SMSI) 11 Nov 212021 Q3 Earnings call transcript