Smith Micro Software, Inc., founded in 1982 by William W. Smith, Jr., is a developer and marketer of both enterprise and consumer-level software and services. Headquartered in Pittsburgh, Pennsylvania, Smith Micro maintains multiple domestic and international offices. United States locations include Aliso Viejo, California, and Pittsburgh, Pennsylvania.3 Its shares trade on Nasdaq under the symbol SMSI.1Wikipedia text CC BY-SA 4.0
Smith Micro Software, Inc., founded in 1982 by William W. Smith, Jr., is a developer and marketer of both enterprise and consumer-level software and services. Headquartered in Pittsburgh, Pennsylvania, Smith Micro maintains multiple domestic and international offices. United States locations include Aliso Viejo, California, and Pittsburgh, Pennsylvania. International offices are located throughout Europe and Asia. Currently, the company focuses on digital lifestyle solutions and security technologies, and is integrated into the evolving wireless media industry, as indicated by partnerships with cellular service providers such as Verizon Wireless, AT&T, and Sprint Corporation, now owned by T-Mobile US after the Sprint & T-Mobile merger in April 2020.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Cost of revenueResearch and developmentOther costs
Cost of revenue26¢$4.5M
Research and development62¢$10.7M
Other costs12¢$2.1M
Income tax0¢$76.0K
Out of $17.4M in revenue.8 The company lost money this year.
Financial statements
Revenue9101112138$17.4M in 2025−60% since 2019Gross profit9101112138$12.9M in 2025−67% since 2019Operating income9101112138-$29.0M in 2025Net income9101112138-$29.3M in 2025
Revenue1415$4.3M in Q2 FY2026+3% since Q1 FY2026Gross profit1415$3.5M in Q2 FY2026+7% since Q1 FY2026Operating income1415-$2.4M in Q2 FY2026−30% since Q1 FY2026Net income1415-$2.6M in Q2 FY2026−32% since Q1 FY2026
Every line of the income statement as filed: the last 2 fiscal years, latest first.8
Period ending
2025-12-31
2024-12-31
Revenues
$17.4M
$20.6M
Cost of revenues (including depreciation of $1 and $15 in the years ended December 31, 2025 and 2024, respectively)
$4.5M
$6.1M
Gross profit
$12.9M
$14.4M
Selling and marketing
$6.0M
$8.9M
Research and development
$10.7M
$14.1M
General and administrative
$10.0M
$10.6M
Depreciation and amortization
$5.4M
$6.3M
Gain on sale of ViewSpot, net
-$1.3M
$0
Goodwill impairment
$11.1M
$24.0M
Total operating expenses
$41.9M
$63.8M
Operating loss
-$29.0M
-$49.4M
Change in fair value of warrant liabilities
$179.0K
$372.0K
Interest (expense) income, net
-$407.0K
$112.0K
Other (expense) income, net
-$164.0K
$196.0K
Loss before benefit for income tax
-$29.4M
-$48.7M
Income tax benefit
-$76.0K
-$13.0K
Net loss
-$29.3M
-$48.7M
Deemed dividend
-$769.0K
$0
Net loss attributable to common stockholders
-$30.1M
-$48.7M
Basic and diluted (in dollars per share)
-$1.46
-$3.94
Basic and diluted (in shares)
20.6M shares
12.4M shares
Cost of revenues, depreciation
$1.0K
$15.0K
No quarter-by-quarter statement was filed.
Total assets9101112138$25.0M in 2025−59% since 2019Shareholders’ equity101112138$18.4M in 2025−62% since 2019Cash9101112138$1.5M in 2025−95% since 2019
Total assets1514$25.9M in Q2 FY2026+4% since Q2 FY2025Shareholders’ equity1514$17.3M in Q2 FY2026−6% since Q2 FY2025Cash1514$2.8M in Q2 FY2026+87% since Q2 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.8
Period ending
2025-12-31
2024-12-31
2024-03-31
2023-12-31
Cash and cash equivalents
$1.5M
$2.8M
Accounts receivable, net of related allowances of $0 and $3 at December 31, 2025 and 2024, respectively
$1.8M
$5.7M
Prepaid expenses and other current assets
$1.2M
$1.5M
Total current assets
$4.5M
$10.0M
Equipment and improvements, net
$331.0K
$538.0K
Right-of-use assets
$1.1M
$2.4M
Other assets
$500.0K
$496.0K
Intangible assets, net
$18.5M
$23.6M
Goodwill
$0
$11.1M
$35.0M
Total assets
$25.0M
$48.0M
Accounts payable
$1.9M
$1.7M
Accrued payroll and benefits
$1.5M
$1.7M
Current operating lease liabilities
$914.0K
$1.3M
Other current liabilities
$773.0K
$940.0K
Notes payable net of discount
$1.0M
$0
Total current liabilities
$6.1M
$5.7M
Warrant liabilities
$45.0K
$224.0K
Operating lease liabilities
$417.0K
$1.3M
Deferred tax liabilities, net
$0
$128.0K
Total non-current liabilities
$462.0K
$1.6M
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
$26.0K
$18.0K
Additional paid-in capital
$403.1M
$395.4M
Accumulated comprehensive deficit
-$384.7M
-$354.6M
Total stockholders equity
$18.4M
$40.8M
$75.4M
Total liabilities and stockholders' equity
$25.0M
$48.0M
Allowance for credit loss
$0
$3.0K
Common stock, par vlaue (in dollars per share)
$0.00
$0.00
$0.00
Common stock, shares authorized (in shares)
100.0M shares
100.0M shares
100.0M shares
Common stock, shares issued (in shares)
25.8M shares
17.7M shares
Common stock, shares outstanding (in shares)
25.8M shares
17.7M shares
76.8M shares
Period ending
2025-12-31
2024-12-31
2024-03-31
2023-12-31
Cash and cash equivalents
$1.5M
$2.8M
Accounts receivable, net of related allowances of $0 and $3 at December 31, 2025 and 2024, respectively
$1.8M
$5.7M
Prepaid expenses and other current assets
$1.2M
$1.5M
Total current assets
$4.5M
$10.0M
Equipment and improvements, net
$331.0K
$538.0K
Right-of-use assets
$1.1M
$2.4M
Other assets
$500.0K
$496.0K
Intangible assets, net
$18.5M
$23.6M
Goodwill
$0
$11.1M
$35.0M
Total assets
$25.0M
$48.0M
Accounts payable
$1.9M
$1.7M
Accrued payroll and benefits
$1.5M
$1.7M
Current operating lease liabilities
$914.0K
$1.3M
Other current liabilities
$773.0K
$940.0K
Notes payable net of discount
$1.0M
$0
Total current liabilities
$6.1M
$5.7M
Warrant liabilities
$45.0K
$224.0K
Operating lease liabilities
$417.0K
$1.3M
Deferred tax liabilities, net
$0
$128.0K
Total non-current liabilities
$462.0K
$1.6M
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
$26.0K
$18.0K
Additional paid-in capital
$403.1M
$395.4M
Accumulated comprehensive deficit
-$384.7M
-$354.6M
Total stockholders equity
$18.4M
$40.8M
$75.4M
Total liabilities and stockholders' equity
$25.0M
$48.0M
Allowance for credit loss
$0
$3.0K
Common stock, par vlaue (in dollars per share)
$0.00
$0.00
$0.00
Common stock, shares authorized (in shares)
100.0M shares
100.0M shares
100.0M shares
Common stock, shares issued (in shares)
25.8M shares
17.7M shares
Common stock, shares outstanding (in shares)
25.8M shares
17.7M shares
76.8M shares
Cash from operations9101112138-$7.2M in 2025Capital spending8$88.0K in 2025+340% since 2024Free cash flow8-$7.3M in 2025−49% since 2024
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.8
Period ending
2025-12-31
2024-12-31
Net loss
-$29.3M
-$48.7M
Depreciation and amortization
$5.4M
$6.3M
Goodwill impairment
$11.1M
$24.0M
Non-cash lease expense
$13.0K
-$304.0K
Change in fair value of warrant liabilities
-$179.0K
-$372.0K
Amortization of debt discount and financing issuance costs
$239.0K
$0
Stock based compensation
$3.6M
$4.5M
Gain on sale of ViewSpot, net
-$1.3M
$0
Deferred income taxes
-$128.0K
-$40.0K
Gain on license of patents, net
$0
-$198.0K
Accounts receivable
$3.9M
$2.2M
Prepaid expenses and other assets
$247.0K
$361.0K
Accounts payable, accrued, and other liabilities
-$736.0K
-$2.0M
Net cash used in operating activities
-$7.2M
-$14.3M
Capital expenditures, net
-$88.0K
-$20.0K
Proceeds from sale of ViewSpot, net
$1.3M
$0
Proceeds from license of patents, net
$0
$198.0K
Net cash provided by investing activities
$1.2M
$178.0K
Issuance of Common Stock and warrants in connection with common stock offering, net of issuance costs
Smith Micro Software sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Smith Micro Software
William W. Smith Jr. Filed SCHEDULE 13D/A on Smith Micro Software, latest Jul 14, 2026 (10 filings since Feb 14, 2022)
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Smith Micro Software reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our corporate headquarters is located in Pittsburgh, Pennsylvania, where we currently lease approximately 35,621 square feet of space under a lease that expires on April 30, 2026. In February 2026, we executed a renewal on the lease whereby beginning May 1, 2026 we will lease approximately 9,571 square feet through April 30, 2031. We occupy approximately 8,513 square feet of space in Aliso Viejo, California in a lease that expires on February 29, 2028. Internationally, we lease approximately 12,728 square feet in Belgrade, Serbia under a lease that expires July 31, 2026, approximately 1,500 square feet in Stockholm, Sweden under a lease that expires September 30, 2026, and approximately 2,659 square feet in Braga, Portugal under a lease that expires May 31, 2027.
Smith Micro's initial focus was on dial-up modem and fax software technology, distributing predominantly to OEM computer software/hardware manufacturers. Smith Micro established an IPO in 1995, and became publicly traded in the NASDAQ under the symbol SMSI. Initial stock values were approx. $12.75 per share.
As the company entered the 90's, dial-up internet was quickly being replaced by cable internet, DSL, and wireless broadband due to substantially higher speeds and increased reliability. This change led Smith Micro to venture into wireless and mobile network software. Network connection management became an expertise of the company and, Smith Micro quickly developed products of interest to large-scale mobile network operators such as AT&T, Bell Canada, Orange, Sprint, T-Mobile, Verizon, and Vodafone. While fax and modem-related products were still a part of their portfolio, the QuickLink Platform of wireless connection managers became a primary source of revenue in the early 2000s.
By 2005, Smith Micro acquired Allume Systems and their StuffIt data compression software. Soon after, Smith Micro acquired Israel-based image editing company, PhoTags. Smith Micro followed with two more acquisitions, (e frontier America and busineSMS.com Software.) By acquiring these smaller companies, Smith Micro rapidly expanded its consumer business presence, however the company retained focus on network and wireless-related products.
In early 2008, the company began to expand its portfolio with the addition of wireless access and mobile services. Smith Micro introduced multiple solutions for enhanced mobile communications, such as push-to-talk software, visual voicemail services, and video streaming. Smith Micro also expressed interest in WiMAX broadband, a newly developed cellular technology which was considered to be a 4G wireless protocol and the replacement of current 3G cellular systems.
In 2019, Smith Micro entered the retail technology space with its acquisition of ISM Connect, LLC’s Smart Retail product suite. Most recently, the company has continued to expand its family safety business through the acquisitions of Circle Media Labs’ operator business in February 2020, and the Family Safety Mobile Business of Avast Software s.r.o in April 2021.
Mar 11, 2025Reported quarterly or annual results58
Nov 13, 2024Reported quarterly or annual results59
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
387 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 57 major events, 195 insider forms, 15 large holders, 10 private raises, 90 other. The latest 20:
23 open-market trades by officers, directors and large owners since October 2021: 11 buys and 12 sales. Grants, option exercises and gifts are left out.
BlackRockSC 13G, 2 filings Feb 4, 2022 to Mar 9, 202262
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
Where the company's money came from, by calendar year: private offerings filed with the SEC,
federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA.
Each bar links to the records below.
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Jun 15, 2026Filed a private offering of securities42Form D: 6 investors so farForm D
Mar 6, 2026Raised $4.9 million in a private offering of debt64Form D: 6 investors so farForm D
Nov 7, 2025Raised $1.5 million in a private offering of equity65Form D: 1 investor so farForm D
Nov 6, 2025Filed a private offering of securities66Form D: 11 investors so farForm D
Sep 11, 2025Raised $933,000 in a private offering of debt67Form D: $1.4 million offered in allForm D
Jul 18, 2025Filed a private offering of securities68Form D: 3 investors so farForm D
Oct 2, 2024Filed a private offering of securities69Form D: 14 investors so farForm D
Oct 2, 2024Raised $3 million in a private offering of equity70Form D: 1 investor so farForm D
May 14, 2024Filed a private offering of securities71Form D: 2 investors so farForm D
Aug 11, 2022Raised $15 million in a private offering of equity72Form D: 4 investors so farForm D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Smith Micro Software is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Mar 5, 2026 (Section 12(b) of the Exchange Act).16
Risk factors and legal proceedings
The risks Smith Micro Software names in Item 1A of its 10-K filed Mar 5, 2026: 31 risks under these headings, as written.16
Risks Related to our Business Operations
We derive a significant portion of our revenues from sales to a concentrated number of customers, and a reduction in sales to any of them have adversely impacted, and in the future may adversely impact, our revenues and operating results.
Our growth depends in part on our customers’ ability and willingness to timely launch and deliver our products and services, to promote our products and services, and to attract and retain new end user customers or achieve other goals outside of our control.
If we are unable to retain key personnel, the loss of their services could materially and adversely affect our business, financial condition, and results of operations.
Security breaches, improper access to or disclosure of our data, our customers’ data or their end users’ data, other hacking attacks on our systems or the third-party systems that we use, or other cyber incidents and privacy breaches could harm our reputation and adversely affect our business.
Interruptions or delays in service from data center hosting facilities or virtual cloud infrastructures could impair the delivery of our service and harm our business.
Our products depend upon effective operation with operating systems, devices, networks, standards, and other third party technology that we do not control and on our continued relationships with mobile operating system providers, device manufacturers, and other third-party technology providers. Changes in our products or to those operating systems, devices, networks, standards, or third-party technology, or interference with those relationships may seriously harm our customers’ ability to retain or attract new users and may harm our revenue and growth.
Our products may contain undetected software defects, which could negatively affect our revenues.
Financial, Investment and Indebtedness Risks
If we are unable to meet our obligations as they become due over the next twelve months, the Company may not be able to continue as a going concern.
We may raise additional capital through the issuance of equity or convertible debt securities or by entering into borrowing arrangements in order to meet our capital needs. Additional funds to allow us to meet our capital needs may not be available on terms acceptable to us or at all.
The Company has a history of net losses and may incur substantial net losses in the future.
The other 21 risks
The results of cost reduction efforts undertaken by the Company could negatively impact the Company's future operational goals and may negatively impact the Company.
Our operating income or loss may continue to change due to shifts in our sales mix and variability in our operating expenses.
Our results of operations may be adversely affected if we fail to realize the full value of our intangible assets.
Exercise of outstanding warrants issued in connection with our capital raising efforts will dilute the ownership interest of our existing stockholders or may otherwise depress the price of our common stock.
Risks Related to Our Convertible Notes
The terms of our Convertible Notes, and our debt repayment obligations thereunder, may restrict our ability to obtain additional financing, and adversely affect our financial condition and cash flows from operations in the future.
Conversion of the Convertible Notes and exercise of the warrants issued in connection with the Convertible Notes will dilute the ownership interest of our existing stockholders or may otherwise depress the price of our common stock.
Our obligations to the holders of our Convertible Notes are secured by a security interest certain of our assets, including our accounts receivable, and if we default on those obligations, the note holders could foreclose on those assets.
The holders of our Convertible Notes have certain additional rights upon an event of default under the Convertible Notes which could harm our business, financial condition and results of operations and could require us to curtail or cease our operations.
Risks Related to our Industry and Macroeconomic Conditions
We derive a significant portion of our revenues from wireless carriers, and changes within this vertical market, or failure to penetrate new markets, could adversely impact our revenues and operating results.
Technology and customer needs change rapidly in our market, which could render our products obsolete and negatively affect our business, financial condition, and results of operations.
Competition within our target markets is intense and includes numerous established competitors and new entrants, which could negatively affect our revenues and results of operations.
Our business, financial condition and operating results could be adversely affected as a result of legal, business, and economic risks specific to international operations.
Legal and Regulatory Risks
The actual or perceived failure by us, our customers, partners, or vendors to comply with stringent and evolving information security, data protection and data privacy laws, regulations, standards, policies, and contractual obligations could harm our reputation and business, may result in increased compliance costs and impediments to the development or performance of our offerings, and may subject us to significant monetary or other penalties and liability.
Our solutions are generally distributed by or on behalf of our customers under their respective brands, and in such instances our customers are responsible for maintaining the direct relationship with the end user, including by establishing the end user terms of use, privacy policies and other commercial terms for the use of our products. Failure by our customers to establish or any deficiency in such terms could expose us to liability.
Regulations affecting our customers and our business and future regulations, to which they or we may become subject, may harm our business.
We may be unable to adequately protect our intellectual property and other proprietary rights, we may be subject to claims for intellectual property infringement, and our customers may be subject to claims for intellectual property infringement with respect to which we have indemnification obligations, which could negatively impact our business and financial results.
If we fail to comply with the requirements for continued listing on the Nasdaq Stock Market, our common stock could be delisted from trading on Nasdaq, which would likely reduce the liquidity of our common stock and could cause our trading price to decline.
Other General Risks
Our customers’ launch of our products and services may be subject to the negotiation and completion of new agreements or amendments to existing agreements and/or lengthy design, qualification and go-to-market processes, which may result in longer sales and launch cycles than we expect, which may impact our financial results and cause our revenues and operating results to be difficult to predict.
Our acquisitions of companies or technologies may disrupt our business and divert management attention and cause our other operations to suffer.
We rely directly and indirectly on third-party intellectual property and licenses, which may not be available on commercially reasonable terms or at all.
Our quarterly revenues and operating results are difficult to predict and could fall below analyst or investor expectations, which could cause the price of our common stock to fall.
Legal proceedings
The Company may become involved in various legal proceedings arising from its business activities. While management does not currently believe that the ultimate disposition of these matters will have a material adverse impact on the Company’s consolidated results of operations, cash flows, or financial position, litigation is inherently unpredictable, and depending on the nature and timing of these proceedings, an unfavorable resolution could materially affect the Company’s future consolidated results of operations, cash flows or financial position in a particular period.
