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This statistic highlights Smith Micro’s Revenue by Segment, split across Graphics-Software, and Wireless, reported on a quarterly basis.
Smith Micro’s solution portfolio includes tried-and-true products that enable customers to offer: In-demand digital services that connect today’s digital lifestyle, such as family location services, parental controls, and consumer IoT devices to mobile consumers worldwide, easy visual access to voice messages on mobile devices via visual voicemail and voice-to-text transcription functionality, and Strategic, consistent, and measurable digital demo experiences.
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
(All figures in millions, except percentages)
The total revenue generated by the company has been increasing every quarter. The revenue increased by 3.27% on a quarter-on-quarter basis, from $15.92 million in Q2 2021 to $16.44 million in Q3 2021. The year-on-year growth was 30.17%, when compared to Q3 2020, where the revenue generated was $12.63 million.
Smith Micro’s revenue can be bifurcated into the following segments:
During the period of the agreement, the business provides royalty-free, non-exclusive, non-transferable, limited-use software licenses to customers in the Wireless sector. Before transferring the license, Smith Micro may provide customization services to ensure that the software runs on the customer’s operating platforms as well as the operating platforms of the mobile devices used by their end customers.
The revenue from these services is recorded at a specific point in time, when the customer accepts the software license. On platforms, the corporation also generates income based on consumption. Active licenses utilized by a customer’s end customers, hosting services, revenue share based on media placements on the platform, and cloud-based services are all sources of usage-based revenue.
The total revenue generated generated by this segment has been increasing every quarter. The revenue increased by 3.27% on a quarter-on-quarter basis, from $15.92 million in Q2 2021 to $16.44 million in Q3 2021. The year-on-year growth was 31.41%, when compared to Q3 2020, where the revenue generated was $12.51 million.
The company provides off-the-shelf software packages with no customization or post-sale technological support services for Graphics products, and revenue is recognized when control of the product is transferred to the customer. This happens when the consumer receives the merchandise or downloads the software from the company’s website or a reseller’s website. Customers can return items for up to 30 days; a return reserve is set when revenue is recorded, and the reserve is monitored and changed depending on actual experience.
The company’s process of winding down non-core product lines, which began in fiscal 2019, continued in fiscal 2020. It sold its Moho and Motion Artist animation software solutions in December 2020 as part of this approach. Therefore, the revenue generated from this segment is only a minor $0.12 million in Q3 2020, after which it was discontinued.
In November 1983, the Company was incorporated in California, then in June 1995, it was reincorporated in Delaware. Smith Micro develops software that enables wireless carriers and cable service providers to simplify and improve the mobile consumer experience around the world. Smith Micro helps its carrier customers develop stronger, more profitable relationships with their mobile subscribers by providing mobile apps for digital family safety, carrier-grade voice messaging systems, and smart retail solutions.
In order to capitalize on growth opportunities in emerging markets such as digital lifestyle services and online family safety, the company continues to innovate and evolve its business case in response to industry trends. However, not just technology innovation, but a customer-first attitude to business is the key to long-term success.
Smith Micro has specialized on embedded software for networked devices, policy-based management systems, and highly scalable mobile applications and hosted services for more than 35 years. Smith Micro’s first product, Stock Portfolio System, was a system for downloading stock quotes using an analogue modem when company was founded in 1982. It released their QuickLink remote connectivity software solution as the field of remote connectivity grew. QuickLink was adopted by modem makers such as IBM, AT&T, Motorola, Hayes, and US Robotics as fax modems grew more common, while Smith Micro became a prominent name in fax and modem communication. The common stock of the company goes by the symbol “SMSI” and is listed on the NASDAQ.
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