Smith Micro Software, Inc. (NASDAQ:SMSI)
Insiders here have filed 5 Form 4s in the last 90 days, but all of them are share awards, grants or other non-market transactions. Those are compensation, not a decision to buy, so they are not scored.
Loses money on what it sells.
- Revenue
- $16.9M
- Net income
- -$15.6M
- Net margin
- -92.6%
Heavily indebted for what it earns.
- Total debt
- $4.5M
- Cash
- $2.8M
- Net debt / EBITDA
- 4.28x
Covers near-term obligations, without much room.
- Current assets
- $6.8M
- Current liabilities
- $4.7M
- Current ratio
- 1.45
Consumes cash and must keep raising it.
- Operating cash flow
- -$9.0M
- Free cash flow
- -$9.0M
- FCF margin
- -53.3%
Burning cash with under a year of runway — expect a raise.
- Shares outstanding
- 5.2M
- Share growth (1y)
- 33.3%
- Cash runway
- 4 months
Five pillars — profitability, leverage, liquidity, cash generation, dilution & runway — each scored 0–20 from the company’s own income statement, balance sheet and cash-flow statement, then scaled to 100. A pillar the statements cannot answer is left out rather than guessed; fewer than three and no score is shown.
SMSI Income Statement
| Fiscal Period | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|---|---|
| Period Ending | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 |
| Revenue | 4.34 M | 4.22 M | 3.97 M | 4.35 M | 4.42 M | 4.62 M |
| Revenue Growth (YoY) | -1.79 % | -8.66 % | -20.04 % | -6.48 % | -14.01 % | -20.30 % |
| Cost of Revenue | 811.00 K | 911.00 K | 939.00 K | 1.14 M | 1.17 M | 1.26 M |
| Gross Profit | 3.53 M | 3.31 M | 3.04 M | 3.21 M | 3.25 M | 3.36 M |
| SG&A Expense | 3.23 M | 3.59 M | 3.54 M | 3.75 M | 4.34 M | 4.37 M |
| R&D Expense | 1.37 M | 1.85 M | 2.51 M | 2.60 M | 2.75 M | 2.86 M |
| Operating Expenses | 5.90 M | 5.77 M | 7.40 M | 7.70 M | 18.20 M | 8.57 M |
| Operating Income | -2.37 M | -2.46 M | -4.36 M | -4.49 M | -14.95 M | -5.21 M |
| Pretax Income | -2.65 M | -3.90 M | -4.63 M | -4.54 M | -15.06 M | -5.18 M |
| Tax Provision | 0.00 | 0.00 | -77.00 K | 0.00 | 0.00 | 1.00 K |
| Net Income | -2.65 M | -3.90 M | -4.55 M | -4.54 M | -15.06 M | -5.18 M |
| EPS (Basic) | -0.52 | -0.75 | -1.00 | -1.25 | -3.90 | -2.10 |
| EPS (Diluted) | -0.52 | -0.75 | -1.00 | -1.25 | -3.90 | -2.10 |
| Shares Outstanding | 5.17 M | 5.14 M | 4.77 M | 4.20 M | 3.88 M | 2.47 M |
Quarterly figures; YoY compares the same fiscal quarter a year earlier. Source: public market data.