Smith Micro Software, Inc. (SMSI) Financial Statements
Industry: Prepackaged Software (Services)
In fiscal 2025, Smith Micro Software reported revenue of $17.4M, down 15.5% from $20.6M the year before. Net income was -$29.3M (a -168.9% net margin), or -$7.30 per diluted share. Gross margin was 74.1% and operating margin was -167.1%. Operating activities generated -$7.2M of cash, leaving -$7.3M of free cash flow. At fiscal year end, Smith Micro Software held $25.0M in total assets against $6.6M in total liabilities, including $1.5M of cash and equivalents.
Open the full interactive Smith Micro Software financials → Quarterly statements, key ratios, valuation history and price charts.
Smith Micro Software Key Stats
| Share Price | $2.40 |
|---|---|
| Market Cap | $12.5M |
| Revenue YoY Growth | -15.5% |
| 52-Week Range | $2.20 – $4.55 |
| Shares Outstanding | 5.2 million (basic, 2026 Q2) |
Smith Micro Software Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $51.3M | $58.4M | $48.5M | $40.9M | $20.6M | $17.4M |
| Cost of Goods Sold | $5.2M | $12.7M | $14.2M | $10.6M | $6.1M | — |
| Gross Profit | $46.1M | $45.7M | $34.3M | $30.3M | $14.4M | $12.9M |
| Operating Income | $3.5M | -$30.9M | -$30.9M | -$18.1M | -$49.4M | -$29.0M |
| Pre-Tax Income | $4.3M | -$30.8M | -$29.1M | -$24.2M | -$48.7M | -$29.4M |
| Income Tax | $160,000 | $215,000 | $226,000 | $158,000 | -$13,000 | -$76,000 |
| Net Income | $4.2M | -$31.0M | -$29.3M | -$24.4M | -$48.7M | -$29.3M |
| Diluted EPS | $4.00 | -$24.40 | -$21.20 | -$15.20 | -$19.70 | -$7.30 |
Smith Micro Software Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $4.3M | $4.0M | $4.2M | $4.3M |
| Net Income | -$4.5M | -$4.6M | -$3.9M | -$2.6M |
| Diluted EPS | -$1.25 | -$0.22 | -$0.75 | -$0.52 |
Smith Micro Software Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $25.8M | $16.1M | $14.0M | $7.1M | $2.8M | $1.5M |
| Current Assets | $39.3M | $28.7M | $26.5M | $16.9M | $10.0M | $4.5M |
| Total Assets | $72.9M | $115.4M | $103.6M | $85.6M | $48.0M | $25.0M |
| Current Liabilities | $8.4M | $9.4M | $20.7M | $7.6M | $5.7M | $6.1M |
| Total Long-Term Debt | — | — | $27.0M | — | — | — |
| Total Liabilities | $14.2M | $14.8M | $27.2M | $10.2M | $7.3M | $6.6M |
| Shareholders' Equity | $58.7M | $100.6M | $76.4M | $75.4M | $40.8M | $18.4M |
Smith Micro Software Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $7.9M | -$12.9M | -$19.3M | -$7.0M | -$14.3M | -$7.2M |
| Cash From Investing | -$14.7M | -$57.5M | $115,000 | $132,000 | $178,000 | $1.2M |
| Cash From Financing | $4.2M | $60.7M | $17.1M | -$60,000 | $9.8M | $4.7M |
| Free Cash Flow | $6.6M | -$13.7M | -$19.3M | -$7.0M | -$14.3M | -$7.3M |
Figures from Smith Micro Software's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Smith Micro Software financials page for every line item.
Smith Micro Software Company Profile
| Ticker | SMSI |
|---|---|
| Exchange | Nasdaq |
| Industry | Prepackaged Software (Services) |
| Headquarters | Pittsburgh, Pennsylvania |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0000948708 |
Frequently Asked Questions
What was Smith Micro Software's revenue in fiscal 2025?
Smith Micro Software (SMSI) reported revenue of $17.4M for fiscal 2025.
What is Smith Micro Software's annual revenue history?
Smith Micro Software's annual revenue by fiscal year: 2020: $51.3M; 2021: $58.4M; 2022: $48.5M; 2023: $40.9M; 2024: $20.6M; 2025: $17.4M.
What was Smith Micro Software's net income in fiscal 2025?
Smith Micro Software reported net income of -$29.3M for fiscal 2025.
What was Smith Micro Software's earnings per share (EPS) in fiscal 2025?
Smith Micro Software's diluted EPS was -$7.30 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Smith Micro Software generate in fiscal 2025?
Smith Micro Software generated -$7.3M of free cash flow in fiscal 2025.
What was Smith Micro Software's revenue last quarter?
In its most recent reported quarter (2026 Q2), Smith Micro Software reported revenue of $4.3M.
How many shares of Smith Micro Software are outstanding?
Smith Micro Software reported a weighted average of 5.2 million basic shares outstanding in 2026 Q2.
What is Smith Micro Software's market cap?
Based on its latest closing price, Smith Micro Software (SMSI) has a market capitalization of about $12.5M.
When does Smith Micro Software's fiscal year end?
Smith Micro Software's fiscal year end, as registered with the SEC, is December 31.
Where is Smith Micro Software headquartered?
Smith Micro Software lists its business address in Pittsburgh, Pennsylvania in its SEC filings.