Smith Micro Software, Inc.

Good day and welcome to Smith Micro Softwares. Financial results for the third quarter ended September 30, 2025. Today, all participants will be in a listen-only mode. Should you need assistance during today's call, please signal for a conference specialist by pressing the star then zero key on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star, then two. Please note that today's event is being recorded. I would now like to turn the conference over to Charles Messman, Vice President of Marketing. Please go ahead, sir.

Thank you, Operator. We appreciate you joining us today to discuss Smith Micro Software financial results for the third quarter into September 30th, 2025. 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 Tim Huckmire, our Chief Operating Officer and 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 and availability, new and expanded market opportunities, future product deployments, growth by new and existing customers, operating expenses, and the company's 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 the risk factors included in our most recently filed Form 10-K. This micro assumes no obligation to update any forward-looking statements, which speak to the management's beliefs and assumptions only as the day 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 a reconciliation of these non-GAAP financial measures. With that said, I'll turn the call over to Bill. Bill?

Thanks, Charlie, and thank you for joining us today for our third quarter 2025 conference call. I am pleased with the progress we have made overall as we continue to advance our discussions around key customer initiatives and identify new opportunities aimed at broadening the reach of our products, setting the stage for future growth. More recently, we implemented some strategic changes across our organization as part of a broader effort to realign our cost structure in line with our long-term business goals, strengthen our financial foundation, and accelerate our path to profitability. These cost reduction measures will save the company approximately $7.2 million in annualized costs. To achieve organizational changes, We made effective approximately 30% of the overall workforce and were in part enabled by the completion of certain key development efforts. While difficult, these changes were a necessary and meaningful step forward toward enhancing organizational efficiencies and accelerating the company's path to profitability. We are building a culture of continuous improvement and operational efficiency. and we'll continue to assess and optimize our spending in the coming quarters while we continue to invest in strategic areas that support innovation and to deliver exceptional value to our customers and stakeholders. We have also made several structural changes to streamline operations and enhance agility, which will enable us to accelerate the delivery of our solutions to markets. The timing of these adjustments has been carefully planned and aligns with the completion of our core Safe Path 8 platform development efforts. With these initial changes complete, we believe we will be very close to break even and expect to be profitable in mid-2026. Additionally, to further support our financial position and business objectives, We also announced a strategic round of financing, which Jim will cover in greater detail a little later in the call. With the opportunities that are in front of us and the efficiencies we have achieved, I truly believe we are entering a new phase of our journey as we progress to return the company back to growth and profitability. Regarding these opportunities, I am pleased to report that our pipeline remains strong and continues to grow. We are engaged in ongoing activities and customer trials in both North America and Europe. We are witnessing a meaningful shift in the carrier market that includes a renewed focus on family subscribers as 5G growth begins to plateau Carriers are actively seeking new avenues for expansion, and families represent a high-value opportunity. They consistently demonstrate lower churn rates, higher lifetime value, and increased spending across devices, data plans, and services. Our expanded SafePath platform now offers a more comprehensive ecosystem of tools and flexible delivery mechanisms. tailored to family needs. This not only opens new revenue streams, but more closely aligns with carriers' core business strategies, such as selling devices and rate plans, rather than relying on traditional secondary sales of value-added services, which have become less of a priority. I believe we are very well positioned to capitalize on these changes. Now let's turn the call over to Tim for a deeper dive into our financials. I'll follow up with more updates later in the call. Tim?