Smith Micro Software, Inc.

Good day and welcome to the Smith Micro third quarter 2023 earnings conference call. All participants will be in a 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. And to withdraw your question, please press star 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, sir.

Thank you, Operator, and good afternoon, everyone. We appreciate you joining us today to discuss Smith Micro Software's financial results for the third quarter ended September 30, 2023. By now, you should have received a copy of our press release with the financial results. If you do not 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 will hear during today's discussion consists of forward-looking statements, including, without limitations, those regarding the company's future revenue and profitability, our plans and expectations, new product development, new and expanded market opportunities, future product deployments, migration, and or growth by new and existing customers, operating expenses, and company cash reserves. Forward-looking statements involve risk and uncertainties, which could cause actual results or trends to differ materially from those expressed or implied by our forward-looking statements. For more information, please refer to our risk factors included in our most recently filed Form 10-K and in our subsequent filings on Form 10-Q. Smith Micros seems no obligation to update any forward-looking statements which speak to our management's belief and assumption 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 press release disseminated earlier today for reconciliation of these non-GAAP financial measures. With that said, I'll turn the call over to Bill. Bill?

Okay, before I kick this off, I need to let everybody know I'm in the the recovery mode, recovering from a battle with COVID. So if I don't sound like myself, it's probably because I don't totally feel like myself. But all that said, let's kick this off. Thanks, Charlie. Good afternoon, and thank you for joining us today for our 2023 third quarter conference call. I am excited to provide an update on what I feel has been a very strong quarter for the company. Specifically, are achieving both operational and financial targets that we previously outlined earlier this year. From a financial perspective, we executed an aggressive plan to significantly lower expenses, improve gross margins, begin to grow our core revenues, and achieve non-GAAP profitability while generating cash flow from operations. During the quarter, we delivered revenue of $11 million up from the previous quarter and a non-GAAP pre-tax profit of approximately $700,000. We also produced cash flow from operations of approximately $1.5 million. I am pleased that we achieved these goals during the third quarter. This is a strong testament to our team's commitment and focus. I also believe that these results really demonstrate the earnings power potential of the business now that we're past the significant investment in migration activities that we've made over the last two plus years. Speaking of those migration activities, with AT&T's launch of Secure Family on the Safe Path platform during the third quarter, We achieved an important milestone for the company and believe that we are now well positioned for significant growth at this customer. This has been a tremendous undertaking for Smith Micro, and I'm proud of the efforts of our team to get this across the finish line. I am very happy to have these activities behind us as it allows us to fully focus on the future. and pivot towards future innovations to advance our core focus of helping to protect families. Later in the call, I will talk about how we are re-imaging the vision of digital family lifestyle for 2024 and beyond to leverage AI and machine learning to better safeguard customers' safety and privacy as well as simplifying safe path deployments to capture broader segments of the market and new geographic opportunities. But first, let's turn the call over to Jim to discuss our financials in detail. Then I will return and elaborate more on this topic. Jim?