Smith Micro Software, Inc.

Good day and welcome to the Smith Micro fourth quarter 2025 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 telephone keypad, and to withdraw your question, please press star then two. Please note, 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. Thank you, Operator. We appreciate you joining us today to discuss Smith Micro Software's financial results for the fourth quarter and year ended December 31, 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 Huffmeyer, 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 expectation, new products development and availability, new and expanded market opportunities, future product deployments, 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 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 of the date they are made. I want to point out that in 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?

Thanks, Charlie. Thank you for joining us today for our fourth quarter and year-end 2025 conference call. As we move 2025 to the history books, I believe the company continues to make great strides on our return path to growth and profitability. Much of the work completed in 2025 has contributed to our progress. We have strengthened our product lineup with a strategic focus on phones in our Safe Path OS solutions for kids and seniors. The senior focus solution alone more than doubles our total addressable market. Safe Path OS provides carriers with a tool to grow subscriber base with the highest quality subscribers available in the market, the family subs. While we redirected our product strategy, we also continued to rationalize our cost structure. As we said during our last call, we are building a culture of continuous improvement and operational efficiency. We will continue to assess and optimize our spending while we continue to invest in strategic areas that support innovation. Our substantially reduced cost structure results in a reduced loss in the fourth quarter of 2025. And we believe it will support an even further reduced loss in Q1 of 2026. And most importantly, non-GAAP profit in Q2 and beyond. To reinforce this outlook, we plan to bring two new carrier customers to the market by mid-year 2026. Both customer wins are the result of our Safe Path OS product offerings. Our new product strategy is working and will drive the growth that we believe is ahead for Smith Micro. Our existing customer base is also showing signs of growth. as recruiting new family subs has become an important topic of discussion. Beyond all of this positivity, we are seeing a strong sales pipeline that should provide even more new opportunities in the back half of 2026. In other exciting news, I am sure many of you have seen our press release issued earlier today that announced the implementation of our executive succession plan for Smith Micro. After 44 years at the helm, I will step down from the CEO role and will move to a new role as executive chairman for Smith Micro Software. This transition has been in the works for some time, and I believe that the timing is ideal. I am also pleased to announce that Tim Hoffmeier will be taking over as our new president and CEO at the close of the quarter on March 31st. Tim is a proven leader with the experience and judgment to guide the company forward. And I am confident in his ability to lead the company through the exciting return to profitability and growth ahead. I look forward to working alongside Tim to ensure a seamless transition and continued momentum as Smith Micro returns to a role of leadership in providing cutting edge software for wireless carriers. As you can see, I am very bullish about the future of this company that I co-founded so many years ago. And as a result, my wife Deva and I have decided to provide an additional $4 million in funding. This will provide Smith Micro the time needed to return the profitability and the organic creation of cash to fund and grow the business going forward. Later in the call, I will provide more details around the status of our customer base and additional thoughts about our path forward in 2026. Let us turn the call over to Tim to discuss further the results of the fourth quarter and fiscal 2025. Tim?