SMITH MICRO SOFTWARE, INC.

Listed Company

SMSICIK 0000948708NasdaqNon-AcceleratedSmaller ReportingServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-29.33M

Total Assets

$24.97M

Equity

$18.39M

Shares Out

25.76M

Op. Cash Flow

$-7.19M

Business

SMITH MICRO SOFTWARE, INC. provides software solutions that simplify and enhance the mobile experience for wireless service providers and connected-device ecosystems. It offers family safety and digital lifestyle platforms (SafePath suite), a retail display management platform (ViewSpot), and a premium messaging platform (CommSuite) for visual voicemail and voice-to-text services. The company reports a single operating segment, Wireless, focused on carrier-grade, white-label and SaaS deployments. It distributes products primarily through mobile network operators and cable multiple system operators worldwide, and via in-store Android demo devices.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	17	21	—	—	—
Cost of revenues (including depreciation of $1 and $15 in the years ended December 31, 2025 and 2024, respectively)	5	6	—	—	—
Gross profit	13	14	30	34	46
Selling and marketing	6	9	11	13	12
Research and development	11	14	17	29	26
General and administrative	10	11	13	16	18
Depreciation and amortization	5	6	7	7	—
Gain on sale of ViewSpot, net	−1	0	—	—	—
Goodwill impairment	11	24	0	—	—
Total operating expenses	42	64	48	65	77
Operating loss	−29	−49	−18	−31	−31
Change in fair value of warrant liabilities	179,000	372,000	—	—	—
Interest (expense) income, net	−407,000	112,000	—	—	—
Other (expense) income, net	−164,000	196,000	−52,000	−115,000	76,000
Loss before benefit for income tax	−29	−49	−24	−29	−31
Income tax benefit	−76,000	−13,000	158,000	226,000	215,000
Net loss	−29	−49	−24	−29	−31
Deemed dividend	−769,000	0	—	—	—
Net loss attributable to common stockholders	−30	−49	—	—	—
Basic and diluted (in dollars per share)	−1.46	−3.94	−3.01	−0.53	−0.61
Basic and diluted (in shares)	21	12	8	55	51

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1	3	7	14	16
Accounts receivable, net of related allowances of $0 and $3 at December 31, 2025 and 2024, respectively	2	6	8	11	11
Prepaid expenses and other current assets	1	1	2	2	2
Total current assets	5	10	17	27	29
Equipment and improvements, net	331,000	538,000	883,000	1	3
Right-of-use assets	1	2	3	4	5
Other assets	500,000	496,000	482,000	490,000	620,000
Intangible assets, net	18	24	30	36	43
Goodwill	0	11	35	35	35
Total assets	25	48	86	104	115
Accounts payable	2	2	3	3	3
Accrued payroll and benefits	1	2	—	—	—
Current operating lease liabilities	914,000	1	1	1	1
Other current liabilities	773,000	940,000	—	—	—
Notes payable net of discount	1	0	—	—	—
Total current liabilities	6	6	8	21	9
Warrant liabilities	45,000	224,000	—	—	—
Operating lease liabilities	417,000	1	2	3	4
Deferred tax liabilities, net	0	128,000	168,000	178,000	117,000
Total non-current liabilities	462,000	2	3	6	5
Commitments and contingencies	—	—	—	—	—
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 25,798,092 and 17,673,404 shares issued and outstanding at December 31, 2025 and 2024, respectively	26,000	18,000	9,000	56,000	54,000
Additional paid-in capital	403	395	—	—	—
Accumulated comprehensive deficit	−385	−355	—	—	—
Total stockholders equity	18	41	75	76	101
Total liabilities and stockholders' equity	25	48	86	104	115

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	5	6	7	8	—
Non-cash lease expense	13,000	−304,000	—	—	—
Amortization of debt discount and financing issuance costs	239,000	0	—	—	—
Stock based compensation	4	5	5	5	5
Deferred income taxes	−128,000	−40,000	—	—	—
Gain on license of patents, net	0	−198,000	—	—	—
Accounts receivable	4	2	3	85,000	8
Prepaid expenses and other assets	247,000	361,000	12,000	−25,000	−268,000
Accounts payable, accrued, and other liabilities	−736,000	−2	−3	−1	−16
Net cash used in operating activities	−7	−14	−7	−19	−13
Capital expenditures, net	−88,000	−20,000	—	—	—
Proceeds from sale of ViewSpot, net	1	0	—	—	192,000
Proceeds from license of patents, net	0	198,000	—	—	—
Net cash provided by investing activities	1	178,000	132,000	115,000	−58
Issuance of Common Stock and warrants in connection with common stock offering, net of issuance costs	3	10	0	—	—
Issuance of Notes payable and warrants	1	0	—	—	—
Proceeds from financing arrangements	933,000	1	981,000	2	0
Repayments of financing arrangements	−940,000	−1	—	—	—
Other financing activities	2,000	5,000	−5,000	58,000	102,000
Net cash provided by financing activities	5	10	−60,000	17	61
Net decrease in cash and cash equivalents	−1	−4	−7	−2	−10
Deemed dividend	769,000	0	—	—	—

Filings

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