SMITH MICRO SOFTWARE, INC. SMSI
Smith Micro provides software solutions that simplify and enhance the mobile experience to some of the leading wireless service providers around the globe. From enabling the Digital Family Lifestyle™ to providing powerful voice messaging capabilities, we strive to enrich today's connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer Internet of Things ("IoT") devices.
We continue to innovate and evolve our business to respond to industry trends and maximize opportunities in growing and evolving markets, such as digital lifestyle services and online safety, the consumer IoT marketplace, and by leveraging advanced technologies like artificial intelligence to enhance the features and capabilities of our solutions. The key to our longevity, however, is not simply technological innovation, but our focus on understanding our customers' needs and delivering value.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.4M | $20.6M | $40.9M | $48.5M | $58.4M | $51.3M | $43.3M | $26.3M | $23.0M | $28.2M |
| Cost of revenue | $4.5M | $6.1M | $10.6M | $14.2M | $12.7M | $5.2M | $3.9M | $4.3M | $5.1M | $7.6M |
| Gross profit | $12.9M | $14.4M | $30.3M | $34.3M | $45.7M | $46.1M | $39.4M | $22.0M | $17.9M | $20.7M |
| R&D | $10.7M | $14.1M | $17.1M | $29.4M | $26.2M | $17.8M | $11.7M | $8.6M | $9.0M | $15.9M |
| SG&A | $10.0M | $10.6M | $12.8M | $15.5M | $17.9M | $12.8M | $9.9M | $8.6M | $8.6M | $10.3M |
| Total operating expenses | $41.9M | $63.8M | $48.4M | $65.2M | $76.7M | $42.6M | $29.3M | $23.2M | $23.6M | $36.6M |
| Operating income | -$29.0M | -$49.4M | -$18.1M | -$30.9M | -$30.9M | $3.5M | $10.1M | -$1.2M | -$5.7M | -$15.9M |
| Interest expense | $407.0K | $112.0K | $6.4M | $2.7M | $34.0K | $96.0K | $228.0K | $472.0K | $1.1M | $313.0K |
| Pre-tax income | -$29.4M | -$48.7M | -$24.2M | -$29.1M | -$30.8M | $4.3M | $10.8M | -$2.7M | -$7.2M | -$15.6M |
| Income tax | $76.0K | $13.0K | $158.0K | $226.0K | $215.0K | $160.0K | $80.0K | $13.0K | $546.0K | $229.0K |
| Net income | -$30.1K | -$48.7K | -$24.4K | -$29.3M | -$31.0M | $4.2M | $10.7M | -$2.7M | -$6.7M | -$15.3M |
| EPS, basic | -1.46 | -3.94 | -3.01 | -0.53 | -0.61 | 0.10 | 0.31 | -0.14 | -0.49 | -1.28 |
| EPS, diluted | -1.46 | -3.94 | -3.01 | -0.53 | -0.61 | 0.10 | 0.29 | -0.14 | -0.49 | -1.28 |
| Shares, diluted (wtd. avg.) | 20.6M | 12.4M | 8.1M | 55.4M | 51.2M | 42.8M | 37.0M | 22.3M | 13.5M | 12.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.5M | $2.8M | $7.1M | $14.0M | $16.1M | $25.8M | $28.3M | $12.2M | $2.2M | $2.2M |
| Receivables | $1.8M | $5.7M | $7.9M | $10.5M | $10.6M | $12.3M | $10.9M | $7.1M | $5.1M | $5.0M |
| Inventory | — | — | — | — | — | — | — | — | — | $12.0K |
| Total current assets | $4.5M | $10.0M | $16.9M | $26.5M | $28.7M | $39.3M | $40.0M | $20.1M | $7.9M | $7.9M |
| Property, plant and equipment | $331.0K | $538.0K | $883.0K | $1.5M | $2.7M | $2.2M | $2.1M | $865.0K | $1.2M | $1.8M |
| Goodwill | $0 | $11.1M | $35.0M | $35.0M | $35.0M | $12.3M | $7.8M | $3.7M | $3.7M | $3.7M |
| Other intangibles | $18.5M | $23.6M | $29.5M | $36.3M | $42.6M | $12.7M | $4.5M | $238.0K | $487.0K | $745.0K |
| Total assets | $25.0M | $48.0M | $85.6M | $103.6M | $114.5M | $72.9M | $61.2M | $25.2M | $13.9M | $14.3M |
| Accounts payable | $1.9M | $1.7M | $2.5M | $3.2M | $3.3M | $2.3M | $2.0M | $1.2M | $1.3M | $1.9M |
| Total current liabilities | $6.1M | $5.7M | $7.6M | $20.7M | $9.4M | $8.4M | $5.7M | $3.4M | $4.8M | $5.5M |
| Long-term debt | — | — | — | — | — | — | — | — | $3.8M | $2.6M |
| Retained earnings | — | -$354.6M | -$305.9M | -$281.6M | -$252.3M | -$221.2M | -$225.4M | -$236.1M | -$232.9M | -$226.2M |
| Total equity | $18.4M | $40.8M | $75.4M | $76.4M | $100.6M | $58.7M | $48.7M | $20.6M | $4.6M | $3.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7.2M | -$14.3M | -$7.0M | -$19.3M | -$12.9M | $7.9M | $10.0M | -$2.9M | -$7.4M | -$11.5M |
| Depreciation and amortisation | $5.4M | $6.3M | $7.3M | $7.6M | $1.2M | $700.0K | $400.0K | $500.0K | $700.0K | $1.2M |
| Stock-based compensation | $3.6M | $4.5M | $4.8M | $4.9M | $4.8M | — | — | — | — | — |
| Capital expenditure | $88.0K | $20.0K | $4.0K | $49.0K | $830.0K | $1.3M | $1.7M | $173.0K | $77.0K | $500.0K |
| Investing cash flow | $1.2M | $178.0K | $132.0K | $115.0K | -$57.5M | -$14.7M | -$5.3M | -$173.0K | -$77.0K | $1.1M |
| Financing cash flow | $4.7M | $9.8M | -$60.0K | $17.1M | $60.7M | $4.2M | $11.4M | $13.0M | $7.5M | $3.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-012555.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.2M | $23.0M | $26.3M | $43.3M | $51.3M | $58.4M | $48.5M | $40.9M | $20.6M | $17.4M |
| Gross profit | $20.7M | $17.9M | $22.0M | $39.4M | $46.1M | $45.7M | $34.3M | $30.3M | $14.4M | $12.9M |
| Net income | -$15.3M | -$6.7M | -$2.7M | $10.7M | $4.2M | -$31.0M | -$29.3M | -$24.4K | -$48.7K | -$30.1K |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Material agreement signed Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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