Smith Micro Software, Inc.

Thank you for holding. Good day and welcome to the Smith Micro third quarter 2022 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star and then two. Please note, this event is being recorded. I would now like to turn the conference over to Mr. Charles Messman, Vice President of Investor Relations and Corporate Development. Please go ahead.

Thank you, Operator, and good afternoon, everyone. We appreciate you joining us today to discuss Smith Microsoftware's financial results for our third quarter ended September 30th, 2022. By now, you should have received a copy of the press release with the financial results. If you don't have a copy and would like one, please visit the Investor Relations section of our website at www.smithmicro.com. On today's call, we have Bill Smith, our Chairman of the Board President and Chief Executive Officer, and Jim Kempton, our Chief Financial Officer. Please note that some of the information you'll hear during today's discussion consists of forward-looking statements, including, without limitations, those regarding the company's future revenue and profitability, our future plans, new product development, and new expanded market opportunities, future product deployments, migrations, and or growth by new and existing customers, operating expenses, company cash reserves, and the expected impact of last year's acquisition of a vast family safety mobile business on our business strategy, operations, and financial positions going forward. Forward-looking statements involve risk and uncertainties, which could cause actual results or trends to differ materially from those expressed or implied by forward-looking statements. For more information, Refer to the risk factors included in our most recently filed Form 10-K and our subsequent filings on Form 10-Q. Smith-Miker assumes no obligation to update any forward-looking statements which speak to our management's belief and assumptions only as the date they are made. I want to point out that in our forthcoming prepared remarks, we will refer to specific non-GAAP financial measures. Please refer to our PLUS release disseminated earlier today for a reconciliation of these non-GAAP financial measures. With that said, I'll turn the call over to Bill. Bill?

Thanks, Charlie. Good afternoon, and thank you for joining us today for our 2022 third quarter conference call. Since our last call, we've been extremely busy on many fronts, not only with our customers, but also with the strategic changes we began making as we outlined in our last call. After a long development process, to migrate our Tier 1 customers to the SafePath platform, we are finally nearing completion. Once the migration is complete, having all carriers on a feature-enhanced best-of-both platform will ensure a best-in-class digital family lifestyle experience for our carrier partners' subscribers. Transitioning onto the SafePath platform also creates significant new market opportunities for Safe Path Home, Safe Path IoT, and Safe Path Drive for Smith Micro and our carrier partners. This really leads me to the point that this is just the beginning of our journey to deliver on our long-held vision of providing a single, comprehensive, digitally connected life experience for families around the world, keeping families safe in this ever-changing and evolving digital age through the Safe Path platform. As we discussed during our Q2 conference call, another key benefit of nearing the completion of the migration development efforts was the capitalizing on the cost synergies that we had anticipated for the acquisition from Avos. Those cost rationalization efforts began in the third quarter, resulting in $1 million in sequential quarter-over-quarter reductions in operating costs. In addition, we've taken further actions thus far in fourth quarter to continue to execute on our plan to reduce quarterly operating expenses by over $3 million compared to the $14.1 million in operating expense that we reported in the second quarter of this year. Jim reviewed these activities in more detail in his remarks, but we believe that we have a very clear path to the achievement of our targeted operating expense level by the second quarter of 2023. We remain extremely focused on the very critical task at hand to bring the migration to a close and turn the focus on the building for the future. This next phase of the company is more exciting and larger than any opportunity I have seen at Smith Micro in our 40-year history. After Jim's remarks on our financials, I will provide some additional details about our customers and some new initiatives. So, let's turn the call over to Jim. Jim?