SMSI · Smith Micro Software, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.22M | - | $4.35M | $4.42M | $4.62M | - | $4.65M | $5.14M | $5.80M | - |
| Cost of Revenue | $911.0K | - | $1.32M | $1.61M | $1.26M | - | $1.32M | $1.61M | $1.99M | - |
| Gross Profit | $3.31M | - | $3.21M | $3.25M | $3.36M | - | $3.33M | $3.53M | $3.81M | - |
| R&D | $1.85M | - | $2.60M | $2.75M | $2.86M | - | $3.64M | $3.70M | $3.99M | - |
| SG&A | $2.11M | - | $2.27M | $2.67M | $2.72M | - | $2.71M | $2.74M | $2.76M | - |
| Total Operating Expenses | $6.68M | - | $7.70M | $18.20M | $8.57M | - | $9.83M | $10.51M | $35.26M | - |
| D&A | $1.25M | - | $1.42M | $1.35M | $1.35M | - | $1.42M | $1.54M | $1.91M | - |
| Operating Income | ($3.37M) | - | ($4.49M) | ($14.95M) | ($5.21M) | - | ($6.51M) | ($6.98M) | ($31.45M) | - |
| Interest Expense | $25.0K | - | $66.0K | $22.0K | - | - | - | - | - | - |
| Income Tax | $0 | - | $0 | $0 | $1.0K | - | $0 | $0 | $39.0K | - |
| Net Income | ($3.90M) | - | ($4.54M) | ($15.06M) | ($5.18M) | - | ($6.37M) | ($6.93M) | ($31.01M) | - |
| EPS - Basic | ($0.15) | - | ($0.25) | ($0.78) | ($0.28) | - | ($0.54) | ($0.66) | ($3.28) | - |
| EPS - Diluted | ($0.15) | - | ($0.25) | ($0.78) | ($0.28) | - | ($0.54) | ($0.66) | ($3.28) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.74M | $1.49M | $1.39M | $1.40M | $2.29M | $2.81M | $1.51M | $5.63M | $6.16M | $7.13M |
| Accounts Receivable | $2.90M | $1.82M | $2.58M | $2.87M | $3.24M | $5.72M | $3.41M | $3.82M | $4.30M | $7.91M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $1.57M | $1.94M | $2.28M | $1.77M | $1.67M | $1.74M | $2.05M | $2.34M | $2.22M | $2.52M |
| Current Assets | $5.96M | $4.53M | $5.06M | $5.87M | $6.96M | $10.00M | $6.42M | $11.51M | $12.26M | $16.88M |
| Total Assets | $25.79M | $24.97M | $27.13M | $29.58M | $43.36M | $48.05M | $46.18M | $52.99M | $55.44M | $85.58M |
| Current Liabilities | $4.36M | $6.12M | $6.52M | $6.27M | $5.67M | $5.65M | $6.41M | $7.54M | $7.19M | $7.64M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $18.34M | $18.39M | $19.89M | $22.41M | $36.56M | $40.76M | $37.75M | $42.90M | $45.44M | $75.39M |
| Retained Earnings | - | - | - | - | ($359.82M) | ($354.64M) | ($350.25M) | ($343.88M) | ($336.95M) | ($305.95M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($3.75M) | - | - | - | ($602.0K) | - | - | - | ($1.34M) | - |
| Investing Cash Flow | ($11.0K) | - | - | - | ($4.0K) | - | - | - | $194.0K | - |
| Financing Cash Flow | $4.01M | - | - | - | $86.0K | - | - | - | $181.0K | - |
| CapEx | $4.0K | - | - | - | $4.0K | - | - | - | $4.0K | - |
| Free Cash Flow | ($3.76M) | - | - | - | ($606.0K) | - | - | - | ($1.35M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 78.4% | - | 73.9% | 73.5% | 72.8% | - | 71.6% | 68.7% | 65.7% | - |
| Operating margin | -79.9% | - | -103.2% | -338.3% | -112.7% | - | -140.0% | -135.8% | -542.4% | - |
| EBITDA margin | -50.4% | - | -70.5% | -307.8% | -83.6% | - | -109.4% | -105.8% | -509.5% | - |
| Net margin | -92.3% | - | -104.3% | -340.8% | -112.1% | - | -137.0% | -134.8% | -534.8% | - |
| Free cash flow margin | -89.0% | - | - | - | -13.1% | - | - | - | -23.3% | - |
| FCF / Net income | 0.96 | - | - | - | 0.12 | - | - | - | 0.04 | - |
| R&D / Revenue | 43.8% | - | 59.9% | 62.3% | 61.8% | - | 78.2% | 72.0% | 68.8% | - |
| SG&A / Revenue | 50.1% | - | 52.2% | 60.4% | 58.9% | - | 58.4% | 53.3% | 47.5% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -15.1% | - | -16.7% | -50.9% | -11.9% | - | -13.8% | -13.1% | -55.9% | - |
| Return on equity | -21.2% | - | -22.8% | -67.2% | -14.2% | - | -16.9% | -16.2% | -68.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.37 | 0.74 | 0.78 | 0.93 | 1.23 | 1.77 | 1.00 | 1.53 | 1.70 | 2.21 |
| Quick ratio | 1.37 | 0.74 | 0.78 | 0.93 | 1.23 | 1.77 | 1.00 | 1.53 | 1.70 | 2.21 |
| Cash ratio | 0.40 | 0.24 | 0.21 | 0.22 | 0.40 | 0.50 | 0.24 | 0.75 | 0.86 | 0.93 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -134.9x | - | -68.0x | -679.7x | - | - | - | - | - | - |
| Equity multiplier | 1.41 | 1.36 | 1.36 | 1.32 | 1.19 | 1.18 | 1.22 | 1.24 | 1.22 | 1.14 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.16 | - | 0.16 | 0.15 | 0.11 | - | 0.10 | 0.10 | 0.10 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 251d | - | 216d | 237d | 256d | - | 267d | 272d | 271d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 628d | - | 630d | 401d | 486d | - | 566d | 531d | 407d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 1.0x | - | 0.8x | 0.7x | 0.4x | - | 0.3x | 0.5x | 0.6x | - |
| P / S | 4.4x | - | 3.5x | 3.8x | 2.9x | - | 2.6x | 4.5x | 4.4x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -8.7% | - | -6.5% | -14.0% | -20.3% | - | -57.7% | -50.3% | -47.0% | - |
| Revenue CAGR (3y) | -27.2% | - | -28.1% | -29.6% | -28.7% | - | -34.4% | -31.4% | -20.1% | - |
| Revenue CAGR (5y) | -18.0% | - | -19.2% | -19.3% | -19.1% | - | -17.0% | -13.9% | -7.2% | - |
| Gross profit growth (YoY) | -1.6% | - | -3.5% | -8.0% | -11.7% | - | -60.7% | -54.4% | -50.2% | - |
| Operating income growth (YoY) | 35.3% | - | 31.1% | -114.3% | 83.4% | - | -198.3% | -115.1% | -353.4% | - |
| Net income growth (YoY) | 24.7% | - | 28.8% | -117.4% | 83.3% | - | -24.1% | -22.3% | -350.2% | - |
| EPS growth (YoY) | 46.4% | - | 53.7% | -18.2% | 91.5% | - | -575.0% | -633.3% | -2881.8% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -519.8% | - | - | - | 55.1% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -49.8% | -54.9% | -47.3% | -47.8% | -19.5% | -45.9% | -50.9% | -42.4% | -38.5% | -1.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$17.36M totalFamily Safety$14.12M · 81.3%
Commsuite$3.10M · 17.9%
Viewspot$142.0K · 0.8%
Geographic
$17.36M totalAmericas$17.31M · 99.7%
EMEA$56.0K · 0.3%
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing SMITH MICRO SOFTWARE against the 5 most active filers in the same SIC group.