Smith Micro Software, Inc.
Climate Impact & Sustainability Data (2016)
Reporting Period: 2016
Environmental Metrics
Social Achievements
- Reduced headcount by 37% through a strategic restructuring to maximize talent and leverage lower cost locations.
Climate Goals & Targets
Short-term Goals:
- Grow revenues profitably and make Smith Micro a growth-oriented tech stock.
Environmental Challenges
- Significant decrease in revenues primarily due to Sprint terminating a contract for NetWise Wi-Fi offload software.
- Slow materialization of revenues from acquisitions despite a pipeline of new deals.
- Need to implement a significant restructuring plan.
Mitigation Strategies
- Significant organizational changes and headcount reduction by 37%.
- Restructuring to align expenses with short-term revenue projections, reducing quarterly expenses by approximately $3.5 million.
- Focus on sales of SafePath and NetWise IoT platforms due to high market demand and ease of implementation.