SMSI Operating Model
 Share
The version of the browser you are using is no longer supported. Please upgrade to a supported browser.Dismiss

 
$
%
123
 
 
 
 
 
 
 
 
 
AFGHIJKLMNOPQRSTUVWXY
1
This model is now editable by anyone6/30/189/30/1812/31/183/31/196/30/199/30/1912/31/193/31/206/30/209/30/2012/31/2020192020
2
Revenues (Street Estimates)6,9456,5256,6006,7006,9007,3007,600----28,500-
3
Revenues6,9456,5256,8007,2007,8408,8109,55010,28011,25012,05012,82033,40046,400
4
CommSuite (ex. Services & Contract revenue)
5,3625,1155,2005,3005,4005,5005,6005,6005,7005,7005,70021,80022,700
<<< Commsuite revenue leveling out in 2020
5
SafePath (ex. Services & Contract revenue)7009601,2001,5001,8202,2902,6002,9003,3503,7504,1008,21014,100
<<< Modest growth in Safepath w/ existing contracts
6
Safepath (w/ T-Mobile?)2006009001,3001,7002,1002,5001,7007,600
<<< T-Mobile contract revenue beginning mid-2019
7
Smart Retail
8
Graphics4392422002002202202502803003003208901,200
<<< Little to no graphics growth based on bad Amazon reviews
9
Other444208200200200200200200200200200800800
10
Cost of revenues1,1169799951,0191,0581,1161,1601,2041,2621,3101,3564,3535,133
11
Gross profit5,8295,5465,8056,1816,7827,6948,3909,0769,98810,74011,46429,04741,267
12
GM83.9%85.0%85.4%85.8%86.5%87.3%87.9%88.3%88.8%89.1%89.4%87.0%88.9%
<<< Margins remain strong, but don't breach 90%
13
[Revenue Notes]
14
^^^ Begin to recognize revenue from T-Mobile
15
16
Selling and marketing1,4471,3111,3111,3241,3371,3511,3641,3781,3921,4061,4205,3765,595
17
Research and development2,1952,0492,0492,1312,2162,3052,3972,4932,5932,6962,8049,04910,586
18
General and administrative2,0612,0482,0482,0682,0892,1102,1312,1522,1742,1962,2188,3998,740
19
Restructuring expense528300000000000
20
Total operating expenses5,7555,4915,4085,5245,6435,7665,8926,0236,1586,2986,44222,82424,921
21
Operating income (loss)74553976571,1401,9292,4973,0533,8294,4425,0226,22316,346
22
23
Interest expense, net-143-128-103-78-53-28-322477297-162238
2020 EPS Growth
24
Change in fair value of warrant liability
-2,085000000000000132.3%
25
Other income (expense), net-10000000000000PEG Ratio
26
Profit / Loss before income taxes-2,164-732945791,0871,9012,4943,0753,8764,5145,1196,06116,5840.25
<<< Low PEG assigned due to customer concentration
27
Provision for income tax expense13000000000000
Net Cash / NOLs
28
Net Profit / Loss-2,177-732945791,0871,9012,4943,0753,8764,5145,1196,06116,584$0.14
29
30
Less preferred stock dividends-185000000000000Valuation
31
Net profit / loss to common stockholders
-2,362-732945791,0871,9012,4943,0753,8764,5145,1196,06116,584$7.38
32
Basic and diluted avg shares outstanding
21,88825,02028,50028,70032,00032,00035,00035,20035,40035,60035,80035,00035,500
33
Basic and diluted-0.110.000.010.020.030.060.070.090.110.130.140.170.47Current Price
34
$2.01
35
Non-GAAP Adjustments2,588355281224123-40-159-275-435-563-684148-1,957
36
Non-GAAP Earnings2262825758031,2091,8602,3352,8003,4413,9514,4356,20914,627
Upside Potential
37
Non-GAAP EPS0.010.010.020.030.040.060.070.080.100.110.120.180.41267.13%
38
39
Operating Cash Earnings2853276949791,4872,3012,8943,4754,2764,9145,5197,66118,184
40
Cash EPS0.010.010.020.030.050.070.080.100.120.140.150.220.51
41
42
2019 P/E2020 P/E
43
9.183.92
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
Loading...
Main menu