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PITTSBURGH - Smith Micro Software, Inc. (NASDAQ:SMSI) has announced the return of Tim Huffmyer in a new dual role as the company’s chief operating officer and chief financial officer, effective June 9, 2025. Huffmyer, who previously served as Smith Micro’s CFO, will oversee key operational and financial areas of the company. This strategic hire aims to drive Smith Micro towards renewed growth and profitability, a crucial goal given the company’s current challenges. According to InvestingPro data, the company faces significant headwinds with a 45.77% revenue decline in the last twelve months and negative EBITDA of $17.42 million.
Huffmyer’s appointment marks his return to the company after a tenure as CFO of Urgent.ly Inc., a connected mobility assistance software platform provider. His earlier stint at Smith Micro, from June 2017 to September 2021, as vice president, CFO, and treasurer, provided him with a deep understanding of the company’s business, customer base, and employees.
President, CEO, and Chairman William W. Smith, Jr. expressed enthusiasm for Huffmyer’s return, citing his strategic and data-driven leadership as essential for the company’s mission. Huffmyer himself is committed to leveraging Smith Micro’s strong customer relationships and technology to deliver value to customers and shareholders, and to drive operational efficiencies. The company maintains a moderate debt level with a debt-to-equity ratio of 0.06, though InvestingPro analysis indicates the company is currently trading below its Fair Value, with 12 additional key insights available to subscribers.
In his new role, Huffmyer will succeed James Kempton, who has been the CFO since 2021. Smith thanked Kempton for his contributions and wished him well for the future.
Smith Micro Software, known for developing software that simplifies and enhances the mobile experience, serves leading wireless service providers worldwide. The company’s solutions range from Digital Family Lifestyle™ to voice messaging capabilities, engaging consumers through smartphones and IoT devices. Despite maintaining a healthy gross profit margin of 72.15%, the company’s financial health score remains challenged. For detailed analysis and comprehensive insights, investors can access the full Pro Research Report, available exclusively on InvestingPro, covering this and 1,400+ other US stocks.
This announcement is based on a press release statement from Smith Micro Software, Inc. and does not include any speculative content regarding the broader industry or the company’s future performance.
In other recent news, Smith Micro Software reported a 20% decline in revenue for Q1 2025, totaling $4.6 million compared to the previous year. The company also recorded a GAAP net loss of $5.2 million, or $0.28 per share, despite an improved gross margin of 73%. Smith Micro’s Family Safety segment saw a 15% decrease in revenue, although the CommSuite segment experienced a slight revenue increase. Analysts from ROTH Capital and Benchmark have shown interest in the company’s new AI-powered features for the upcoming SafePath 8 platform, which aims to enhance family safety solutions. The company is engaging with mobile operators for potential launches of SafePath Seniors and SafePath Kids, anticipated to occur in Q3 2025. Despite the revenue challenges, CEO Bill Smith expressed optimism about future product launches and their potential to drive growth. The company forecasts Q2 2025 revenue between $4.4 million and $4.8 million, with a gross margin expected to range from 72% to 75%. Smith Micro’s management is focused on innovation and strategic partnerships to align with mobile operators’ long-term visions.
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