Posted on March 3, 2021 by Aaron Warwick
Yesterday, Smith Micro (SMSI), a software developer providing solutions to some of the leading wireless and cable service providers, announced a new customer win, as well as the expansion of one of their three main products, ViewSpot. Specifically, SMSI noted they added “a Tier-1 carrier” from Spain. Previous research indicates this carrier is likely Orange – Spain. Of note, this is SMSI’s first European ViewSpot customer.
Perhaps more importantly, however, is that SMSI also noted that their ViewSpot platform has been expanded to include iOS compatibility. Previously, ViewSpot only worked on Android. This significant update effectively means SMSI has doubled its revenue potential/TAM with ViewSpot. ViewSpot’s annual revenue is around $4-5M currently for the company, so doubling this amount would have a relatively small, but not immaterial impact on the company’s revenue and EPS.
Disclosure: I am long SMSI and may buy or sell shares at any time.