NASDAQ : SMSI
Smith Micro Software, Inc. — Financial statements
Technology · Software - Application · United States
Last price 2.35 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 13.14M
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Financial statements
Smith Micro Software, Inc. (SMSI) reported revenue of 16.88M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 16.88M | 17.36M | 20.55M | 40.86M | 48.51M | 58.42M |
| Cost of Revenue | 3.80M | 4.50M | 6.13M | 10.56M | 14.21M | 12.70M |
| Gross Profit | 13.09M | 12.86M | 14.43M | 30.30M | 34.30M | 45.72M |
| Selling, General & Admin | 14.10M | 15.99M | 19.46M | 23.87M | 28.39M | 29.50M |
| Research & Development | 8.33M | 10.72M | 14.09M | 17.14M | 29.39M | 26.20M |
| Amortization of Goodwill & Intangibles | 6.60M | |||||
| Operating Expenses | 27.68M | 32.10M | 39.83M | 48.36M | 65.23M | 62.30M |
| Operating Income | -14.59M | -19.25M | -25.40M | -18.05M | -30.93M | -16.57M |
| Interest Expense | -1.11M | -407.00K | -6.35M | -2.68M | ||
| Interest & Investment Income | 112.00K | 34.00K | ||||
| Other Non Operating Income (Expenses) | -13.00K | 15.00K | 568.00K | 4.16M | 4.55M | 62.00K |
| EBT Excluding Unusual Items | -15.71M | -19.64M | -24.72M | -20.25M | -29.05M | -16.48M |
| Impairment of Goodwill | -11.05M | -23.99M | ||||
| Gain (Loss) on Sale of Assets | 1.29M | 14.00K | ||||
| Asset Writedown | -1.50M | |||||
| Other Unusual Items | -3.99M | -12.86M | ||||
| Pretax Income | -15.71M | -29.40M | -48.71M | -24.24M | -29.05M | -30.83M |
| Income Tax Expense | -77.00K | -76.00K | -13.00K | 158.00K | 226.00K | 215.00K |
| Net Income | -15.63M | -29.33M | -48.70M | -24.40M | -29.28M | -31.04M |
| Preferred Dividends & Other Adjustments | 855.00K | 769.00K | ||||
| Net Income to Common | -16.49M | -30.10M | -48.70M | -24.40M | -29.28M | -31.04M |
| Shares Outstanding (Basic) | 4.83M | 4.12M | 2.47M | 1.62M | 1.39M | 1.28M |
| Shares Outstanding (Diluted) | 4.83M | 4.12M | 2.47M | 1.62M | 1.39M | 1.28M |
| EPS (Basic) | -3.42 | -7.30 | -19.69 | -15.03 | -21.13 | -24.24 |
| EPS (Diluted) | -3.42 | -7.30 | -19.70 | -15.05 | -21.20 | -24.40 |
| Free Cash Flow | -9.09M | -7.28M | -14.31M | -6.98M | -19.31M | -13.75M |
| Free Cash Flow Per Share | -1.88 | -1.77 | -5.79 | -4.30 | -13.94 | -10.73 |
| Gross Margin | 77.50% | 74.05% | 70.20% | 74.16% | 70.71% | 78.27% |
| Operating Margin | -86.41% | -110.84% | -123.58% | -44.19% | -63.75% | -28.37% |
| Profit Margin | -97.66% | -173.33% | -236.91% | -59.70% | -60.35% | -53.14% |
| Free Cash Flow Margin | -53.81% | -41.93% | -69.64% | -17.08% | -39.80% | -23.53% |
| EBITDA | -9.35M | -13.85M | -19.10M | -10.66M | -23.37M | -7.24M |
| EBITDA Margin | -55.35% | -79.75% | -92.93% | -26.09% | -48.18% | -12.39% |
| D&A For EBITDA | 5.25M | 5.40M | 6.30M | 7.39M | 7.56M | 9.34M |
| EBIT | -14.59M | -19.25M | -25.40M | -18.05M | -30.93M | -16.57M |
| EBIT Margin | -86.41% | -110.84% | -123.58% | -44.19% | -63.75% | -28.37% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.79M | 1.49M | 2.81M | 7.12M | 14.03M | 16.08M |
| Cash & Short-Term Investments | 2.79M | 1.49M | 2.81M | 7.12M | 14.03M | 16.08M |
| Accounts Receivable | 2.62M | 1.82M | 5.72M | 7.91M | 10.50M | 10.59M |
| Receivables | 2.62M | 1.82M | 5.72M | 7.91M | 10.50M | 10.59M |
| Prepaid Expenses | 1.39M | 1.22M | 1.47M | 1.84M | 1.98M | 1.99M |
| Total Current Assets | 6.80M | 4.53M | 10.00M | 16.88M | 26.51M | 28.66M |
| Property, Plant & Equipment | 2.47M | 1.45M | 2.90M | 3.64M | 5.22M | 7.56M |
| Goodwill | 11.05M | 35.04M | 35.04M | 35.04M | ||
| Other Intangible Assets | 16.14M | 18.49M | 23.60M | 29.53M | 36.32M | 42.63M |
| Other Long-Term Assets | 484.00K | 500.00K | 496.00K | 482.00K | 490.00K | 620.00K |
| Total Assets | 25.89M | 24.97M | 48.05M | 85.58M | 103.58M | 114.51M |
| Accounts Payable | 1.83M | 1.94M | 1.74M | 2.52M | 3.24M | 3.30M |
| Accrued Expenses | 1.46M | 1.49M | 1.69M | 2.50M | 3.88M | 4.05M |
| Short-Term Debt | 1.01M | |||||
| Current Portion of Long-Term Debt | 9.01M | |||||
| Current Portion of Leases | 663.00K | 914.00K | 1.28M | 1.48M | 1.44M | 1.40M |
| Other Current Liabilities | 748.00K | 773.00K | 940.00K | 1.14M | 3.16M | 612.00K |
| Total Current Liabilities | 4.70M | 6.12M | 5.65M | 7.64M | 20.73M | 9.37M |
| Long-Term Debt | 2.00M | |||||
| Long-Term Leases | 1.80M | 417.00K | 1.29M | 1.78M | 2.98M | 4.47M |
| Long-Term Deferred Tax Liabilities | 128.00K | 168.00K | 178.00K | 117.00K | ||
| Other Long-Term Liabilities | 54.00K | 45.00K | 224.00K | 597.00K | 3.32M | |
| Total Liabilities | 8.56M | 6.58M | 7.29M | 10.19M | 27.20M | 13.95M |
| Common Stock | 6.00K | 26.00K | 18.00K | 9.00K | 56.00K | 54.00K |
| Additional Paid-In Capital | 408.70M | 403.11M | 395.38M | 381.33M | 357.88M | 352.78M |
| Retained Earnings | -391.38M | -384.74M | -354.64M | -305.95M | -281.55M | -252.27M |
| Shareholders' Equity | 17.33M | 18.39M | 40.76M | 75.39M | 76.38M | 100.56M |
| Total Liabilities & Equity | 25.89M | 24.97M | 48.05M | 85.58M | 103.58M | 114.51M |
| Total Debt | 4.46M | 2.34M | 2.57M | 3.26M | 13.42M | 5.87M |
| Net Cash (Debt) | -1.67M | -844.00K | 242.00K | 3.86M | 602.00K | 10.21M |
| Net Cash Per Share | -0.35 | -0.20 | 0.10 | 2.38 | 0.43 | 7.97 |
| Filing Date Shares Outstanding | 5.59M | 5.15M | 3.55M | 1.87M | 1.47M | 1.36M |
| Total Common Shares Outstanding | 5.59M | 5.16M | 3.53M | 1.87M | 1.40M | 1.36M |
| Working Capital | 2.10M | -1.59M | 4.34M | 9.24M | 5.78M | 19.29M |
| Book Value Per Share | 3.10 | 3.56 | 11.53 | 40.32 | 54.36 | 74.13 |
| Tangible Book Value | 1.20M | -102.00K | 6.11M | 10.82M | 5.02M | 22.89M |
| Tangible Book Value Per Share | 0.21 | -0.02 | 1.73 | 5.79 | 3.57 | 16.87 |
| Machinery | 6.26M | 7.43M | 7.46M | 11.18M | ||
| Leasehold Improvements | 1.44M | 1.44M | 1.44M | 3.38M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -15.63M | -29.33M | -48.70M | -24.40M | -29.28M | -31.04M |
| Depreciation & Amortization | 5.25M | 5.40M | 6.30M | 7.39M | 7.56M | 9.34M |
| Other Amortization | 765.00K | 239.00K | ||||
| Loss (Gain) From Sale of Assets | 6.00K | -1.29M | -198.00K | 12.00K | 4.00K | -14.00K |
| Asset Writedown & Restructuring Costs | 11.05M | 23.99M | ||||
| Stock-Based Compensation | 2.18M | 3.61M | 4.50M | 4.83M | 4.95M | 4.85M |
| Provision & Write-off of Bad Debts | -103.00K | 5.00K | ||||
| Other Operating Activities | -348.00K | -294.00K | -716.00K | 5.57M | -1.59M | 13.98M |
| Change in Accounts Receivable | 54.00K | 3.90M | 2.19M | 2.59M | 85.00K | 7.94M |
| Change in Accounts Payable | -1.35M | -736.00K | -2.03M | -2.83M | -1.12M | -16.31M |
| Change in Other Net Operating Assets | 220.00K | 247.00K | 361.00K | -152.00K | 135.00K | -1.66M |
| Operating Cash Flow | -8.96M | -7.19M | -14.29M | -6.97M | -19.26M | -12.92M |
| Capital Expenditures | -129.00K | -88.00K | -20.00K | -4.00K | -49.00K | -830.00K |
| Cash Acquisitions | -56.87M | |||||
| Divestitures | 300.00K | 1.29M | ||||
| Sale (Purchase) of Intangibles | 198.00K | |||||
| Other Investing Activities | 136.00K | 164.00K | 192.00K | |||
| Investing Cash Flow | 220.00K | 1.20M | 178.00K | 132.00K | 115.00K | -57.50M |
| Short-Term Debt Issued | 2.27M | 1.04M | 981.00K | |||
| Long-Term Debt Issued | 16.54M | |||||
| Total Debt Issued | 6.13M | 2.27M | 1.04M | 981.00K | 16.54M | |
| Short-Term Debt Repaid | -940.00K | -1.09M | -1.04M | |||
| Long-Term Debt Repaid | -1.28M | |||||
| Total Debt Repaid | -900.00K | -940.00K | -1.09M | -1.04M | -1.28M | |
| Net Debt Issued (Repaid) | 5.23M | 1.33M | -44.00K | -55.00K | 15.26M | |
| Issuance of Common Stock | 4.90M | 3.35M | 9.84M | 3.00M | 61.78M | |
| Other Financing Activities | 2.00K | 5.00K | -5.00K | -1.17M | -1.03M | |
| Financing Cash Flow | 10.13M | 4.68M | 9.80M | -60.00K | 17.09M | 60.74M |
| Net Cash Flow | 1.39M | -1.31M | -4.32M | -6.90M | -2.05M | -9.68M |
| Free Cash Flow | -9.09M | -7.28M | -14.31M | -6.98M | -19.31M | -13.75M |
| Free Cash Flow Margin | -53.81% | -41.93% | -69.64% | -17.08% | -39.80% | -23.53% |
| Free Cash Flow Per Share | -1.88 | -1.77 | -5.79 | -4.30 | -13.94 | -10.73 |
| Levered Free Cash Flow | -2.10M | 854.88K | -4.11M | -4.42M | -6.14M | 4.99M |
| Unlevered Free Cash Flow | -2.17M | 870.25K | -4.11M | -453.38K | -4.47M | 4.99M |
| Cash Income Tax Paid | -60.00K | -80.00K | 187.00K | 253.00K | 84.00K | |
| Change in Working Capital | -1.07M | 3.42M | 524.00K | -388.00K | -900.00K | -10.04M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 12.69M | 13.79M | 23.24M | 59.41M | 118.10M | 268.46M |
| Enterprise Value | 14.36M | 14.77M | 24.66M | 58.11M | 111.04M | 242.39M |
| Last Close Price | 2.27 | 2.70 | 6.55 | 33.04 | 84.00 | 196.80 |
| Forward PE | 30.29 | 30.29 | 30.29 | 47.92 | 47.92 | |
| PS Ratio | 0.75 | 0.79 | 1.13 | 1.45 | 2.43 | 4.59 |
| PB Ratio | 0.73 | 0.75 | 0.57 | 0.79 | 1.55 | 2.67 |
| P/TBV Ratio | 10.60 | 3.81 | 5.49 | 23.54 | 11.73 | |
| EV/Sales Ratio | 0.85 | 0.85 | 1.20 | 1.42 | 2.29 | 4.15 |
| Debt / Equity Ratio | 0.26 | 0.13 | 0.06 | 0.04 | 0.18 | 0.06 |
| Net Debt / Equity Ratio | 0.10 | 0.05 | -0.01 | -0.05 | -0.01 | -0.10 |
| Net Debt / EBITDA Ratio | -0.18 | -0.06 | 0.01 | 0.36 | 0.03 | 1.41 |
| Net Debt / FCF Ratio | -0.18 | -0.12 | 0.02 | 0.55 | 0.03 | 0.74 |
| Asset Turnover | 0.61 | 0.48 | 0.31 | 0.43 | 0.45 | 0.62 |
| Quick Ratio | 1.15 | 0.54 | 1.51 | 1.97 | 1.18 | 2.85 |
| Current Ratio | 1.45 | 0.74 | 1.77 | 2.21 | 1.28 | 3.06 |
| Return on Equity (ROE) | -78.66% | -99.17% | -83.86% | -32.15% | -33.09% | -38.98% |
| Return on Assets (ROA) | -32.88% | -32.95% | -23.76% | -11.93% | -17.73% | -11.05% |
| Return on Invested Capital (ROIC) | -74.10% | -64.42% | -45.34% | -24.51% | -37.23% | -25.59% |
| Return on Capital Employed (ROCE) | -68.90% | -102.10% | -59.90% | -23.20% | -37.30% | -15.80% |
| Earnings Yield | -150.49% | -212.60% | -209.58% | -41.06% | -24.79% | -11.56% |
| FCF Yield | -71.61% | -52.78% | -61.61% | -11.74% | -16.35% | -5.12% |
| Buyback Yield / Dilution | -43.91% | -66.61% | -52.40% | -17.14% | -8.18% | -19.80% |