0001437749-26-027656.txt : 20260813 0001437749-26-027656.hdr.sgml : 20260813 20260813160235 ACCESSION NUMBER: 0001437749-26-027656 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20260813 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20260813 DATE AS OF CHANGE: 20260813 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMITH MICRO SOFTWARE, INC. CENTRAL INDEX KEY: 0000948708 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology EIN: 330029027 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35525 FILM NUMBER: 261273056 BUSINESS ADDRESS: STREET 1: 5800 CORPORATE DRIVE CITY: PITTSBURGH STATE: PA ZIP: 15237 BUSINESS PHONE: 4128375300 MAIL ADDRESS: STREET 1: 5800 CORPORATE DRIVE CITY: PITTSBURGH STATE: PA ZIP: 15237 FORMER COMPANY: FORMER CONFORMED NAME: SMITH MICRO SOFTWARE, INC DATE OF NAME CHANGE: 20181023 FORMER COMPANY: FORMER CONFORMED NAME: SMITH MICRO SOFTWARE INC DATE OF NAME CHANGE: 19950731 8-K 1 smsi20260618_8k.htm FORM 8-K smsi20260618_8k.htm
false 0000948708 0000948708 2026-08-01 2026-08-01
 


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 

 
FORM 8-K
 

 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 13, 2026
 

 
Smith Micro Software, Inc.
(Exact name of Registrant as Specified in Its Charter)
 

 
Delaware
001-35525
33-0029027
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
 
5800 Corporate Drive
PittsburghPA
15237
(Address of Principal Executive Offices)
(Zip Code)
 
Registrants Telephone Number, Including Area Code: (412837-5300
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
 
Trading
Symbol(s)
 
Name of each exchange on which registered
Common Stock, par value $0.001 per share
 
SMSI
 
NASDAQ
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
 
Emerging growth company 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 


 

 
Item 2.02
Results of Operations and Financial Condition
 
On August 13, 2026 , Smith Micro Software, Inc. issued a press release announcing its financial results for the three and six months ended June 30, 2026. A copy of the press release is hereby furnished to the Securities and Exchange Commission as Exhibit 99.1 and incorporated by reference herein.
 
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section and will not be incorporated by reference into any filing under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
 
Item 7.01
Regulation FD
 
The information set forth under Item 2.02 is incorporated into this Item 7.01 by reference.
 
Item 9.01.
Financial Statements and Exhibits.
 
(d) Exhibits
 
Exhibit
Description
99.1
 
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
Smith Micro Software, Inc.
 
 
 
 
 
Date: August 13, 2026 
By:
/s/ Bethany M. Braund
 
 
 
Bethany M. Braund
 
 
 
Vice President, Chief Financial Officer and Treasurer
 
 
EX-99.1 2 ex_979029.htm EXHIBIT 99.1 ex_979029.htm

Exhibit 99.1

 

smithmicro01.jpg

 

IR INQUIRIES:

Charles Messman

Investor Relations

412-837-5300

IR@smithmicro.com

 


Smith Micro Reports Second Quarter 2026 Financial Results

 

 

PITTSBURGH, PA, August 13, 2026 – Smith Micro Software, Inc. (Nasdaq: SMSI) (“Smith Micro” or the “Company”) today reported financial results for its second quarter ended June 30, 2026.

 

“I am pleased with our second quarter, which marked an important step forward for Smith Micro as we continued to execute on our strategy and delivered our second consecutive quarter of sequential revenue growth,” said Tim Huffmyer, President and Chief Executive Officer of Smith Micro. “We are continuing to see strong demand for our solutions and are encouraged by the momentum we are seeing across the business. We have two new customers ready to launch in the near term and multiple contracts under negotiation that we expect will drive additional revenue. We also continue to broaden the capabilities of our SafePath® platform, creating new opportunities for growth with both current and prospective customers.

 

“As we enter the second half of 2026, we believe we are better positioned than we have been in years. The introduction of SafePath Connect™ and our new SDK and API deployment options has increased the overall addressable market, opening new channels for growth and enabling us to reach customers beyond traditional carrier deployments. Combined with the strongest pipeline activity we have seen in years, we are confident in our direction and excited about the opportunities ahead.” 

 

 

Second Quarter 2026 Financial Results

 

Smith Micro reported revenue of $4.3 million for the quarter ended June 30, 2026, compared to $4.4 million reported in the quarter ended June 30, 2025.

 

Gross profit for the quarter ended June 30, 2026 was $3.5 million, compared to $3.2 million for the quarter ended June 30, 2025.

 

Gross profit as a percentage of revenue was 81.3% for the quarter ended June 30, 2026, compared to 73.5% for the quarter ended June 30, 2025.

 

GAAP net loss attributable to common stockholders for the quarter ended June 30, 2026 was $2.7 million, or $0.52 loss per share, compared to GAAP net loss attributable to common stockholders of $15.1 million, or $3.88 loss per share, for the quarter ended June 30, 2025.

 

Non-GAAP net loss attributable to common stockholders for the quarter ended June 30, 2026 was $1.0 million, or $0.19 loss per share, compared to non-GAAP net loss attributable to common stockholders of $2.8 million, or $0.71 loss per share, for the quarter ended June 30, 2025. Non-GAAP net loss attributable to common stockholders excludes the items noted below under "Non-GAAP Measures."

 

All share and per share amounts for common stock herein have been retroactively adjusted for all periods presented to give effect to the one-for-five reverse stock split of our common stock, which became effective June 4, 2026 at 11:59 pm Eastern time.

 


Smith Micro Software Second Quarter 2026 Financial Results

Page 2

 

Second Quarter Year-to-Date 2026 Financial Results

 

Smith Micro reported revenue of $8.6 million for the six months ended June 30, 2026, compared to $9.0 million reported in the six months ended June 30, 2025.

 

Gross profit for the six months ended June 30, 2026 was $6.8 million compared to $6.6 million reported for the same period in 2025.

 

Gross profit as a percentage of revenue was 79.9% for the six months ended June 30, 2026 compared to 73.1% for the six months ended June 30, 2025.

 

GAAP net loss attributable to common stockholders for the six months ended June 30, 2026 was $6.6 million, or $1.28 loss per share, compared to GAAP net loss attributable to common stockholders of $20.2 million, or $5.38 loss per share, for the six months ended June 30, 2025.

 

Non-GAAP net loss attributable to common stockholders for the six months ended June 30, 2026 was $2.5 million, or $0.48 loss per share, compared to non-GAAP net loss attributable to common stockholders of $5.6 million, or $1.49 loss per share for the six months ended June 30, 2025. Non-GAAP net loss attributable to common stockholders excludes the items noted below under "Non-GAAP Measures."

 

Total cash and cash equivalents as of June 30, 2026 were $2.8 million.  

 

Non-GAAP Measures

 

To supplement our financial information presented in accordance with GAAP, the Company considers, and has included in this press release, the following non-GAAP financial measures and a non-GAAP reconciliation from the equivalent GAAP metric: non-GAAP net loss, non-GAAP gross profit, and non-GAAP basic and diluted loss per share in the presentation of financial results in this press release. Management believes these non-GAAP presentations may be more meaningful in analyzing the Company's income generation and has therefore excluded the following items from GAAP earnings calculations: stock compensation, intangibles amortization, depreciation, fair value adjustments, and other items, which includes amortization of debt discount and financing issuance costs, executive transition costs, costs associated with corporate actions, deemed dividends, and costs associated with shareholder-approved reverse stock split. Additionally, since the Company currently has federal and state net operating loss carryforwards that can be utilized to reduce future cash payments for income taxes, these non-GAAP adjustments have not been tax effected, and the resulting income tax expense reflects actual taxes paid or accrued during each period. This presentation may be considered more indicative of the Company's ongoing operational performance. The tables below labeled "Reconciliation of GAAP to Non-GAAP Results" present the differences between non-GAAP net loss and net loss on an absolute and per-share basis. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and the non-GAAP financial measures as reported by Smith Micro may not be comparable to similarly titled amounts reported by other companies.

 

Investor Conference Call

 

Smith Micro will hold an investor conference call today, August 13, 2026, at 4:30 p.m. ET, to discuss the Company’s second quarter 2026 financial results. To access the call, dial 1-844-701-1164; international participants can call 1-412-317-5492. A passcode is not required to join the call; ask the operator to be placed into the Smith Micro conference. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins. An internet webcast is available at https://event.choruscall.com/mediaframe/webcast.html?webcastid=5GDGfTWs. In addition, the conference call will be available on the Smith Micro website in the Investor Relations section.

 


Smith Micro Software Second Quarter 2026 Financial Results

Page 3

 

About Smith Micro Software, Inc.

 

Smith Micro develops software to simplify and enhance the mobile experience, providing solutions to some of the leading wireless service providers around the world. From enabling the family digital lifestyle to providing powerful voice messaging capabilities, our solutions enrich today’s connected lifestyles while creating new opportunities to engage consumers via smartphones and consumer IoT devices. For more information, visit www.smithmicro.com.

 

Smith Micro and the Smith Micro logo are registered trademarks or trademarks of Smith Micro Software, Inc. All other trademarks and product names are the property of their respective owners.

 

Forward-Looking Statements

Certain statements in this press release are, and certain statements on the related conference call may be, forward-looking statements regarding future events or results within the meaning of the Private Securities Litigation Reform Act, including statements related to our financial prospects, goals and other projections of our outlook or performance our cost reduction plans and other future business plans, and statements using such words as expect, anticipate,” “believe, plan, intend, could,” “will and other similar expressions. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Among the important factors that could cause or contribute to such differences are customer concentration, given that the majority of our sales currently depend on a few large customer relationships; our ability to establish and maintain strategic relationships with our customers and mobile device manufacturers, their ability to attract customers, and their willingness to promote our products; our ability and/or customers’ ability to distribute our mobile software applications to their end users through third party mobile software application stores, which we do not control; our dependency upon effective operation with operating systems, devices, networks and standards that we do not control and on our continued relationships with mobile operating system providers, device manufacturers and mobile software application stores; our ability to hire and retain key personnel; the possibility of security and privacy breaches in our systems and in the third-party software and/or systems that we use, damaging client relations and inhibiting our ability to grow; interruptions or delays in the services we provide from our data center and cloud hosting facilities; the existence of undetected software defects in our products and our failure to resolve detected defects in a timely manner; our ability to remain a going concern; our ability to raise additional capital and the risk of such capital not being available to us at commercially reasonable terms or at all; our ability to be profitable; current and potential future negative impacts from cost reduction efforts we have taken and may in the future undertake; unanticipated delays or obstacles in our development and release cycles; the degree to which competing business needs or resource constraints may affect our allocation of resources to planned projects; changes in our operating income due to shifts in our sales mix and variability in our operating expenses; adverse impact to our results of operations if we fail to realize the full value of our intangible assets; our current client concentration within the vertical wireless carrier market, and the potential impact to our business resulting from changes within this vertical market, or failure to penetrate new markets; rapid technological evolution and resulting changes in demand for our products from our key customers and their end users; intense competition in our industry and the core vertical markets in which we operate, and our ability to successfully compete; the risks inherent with international operations; the impact of evolving information security and data privacy laws on our business and industry; the impact of governmental regulations on our business and industry; our ability to protect our intellectual property and our ability to operate our business without infringing on the rights of others; and the risk of being delisted from Nasdaq if we continue to fail to meet any of its applicable listing requirements. These and other factors discussed in our filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q, could cause actual results to differ materially from those expressed or implied in any forward-looking statements. The forward-looking statements contained in this release are made on the basis of the views and assumptions of management, and we do not undertake any obligation to update these statements to reflect events or circumstances occurring after the date of this release.

 


Smith Micro Software Second Quarter 2026 Financial Results

Page 4

 

Smith Micro Software, Inc.

Consolidated Balance Sheets

(in thousands except share and par value data)

 

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

(unaudited)

 

 

(audited)

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$2,795

 

 

$1,494

 

Accounts receivable

 

 

2,617

 

 

 

1,817

 

Prepaid expenses and other current assets

 

 

1,388

 

 

 

1,218

 

Total current assets

 

 

6,800

 

 

 

4,529

 

Equipment and improvements, net

 

 

160

 

 

 

331

 

Right-of-use assets

 

 

2,312

 

 

 

1,119

 

Other assets

 

 

484

 

 

 

500

 

Intangible assets, net

 

 

16,137

 

 

 

18,492

 

Total assets

 

$25,893

 

 

$24,971

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$1,830

 

 

$1,937

 

Accrued payroll and benefits

 

 

1,463

 

 

 

1,488

 

Current operating lease liabilities

 

 

663

 

 

 

914

 

Other current liabilities

 

 

748

 

 

 

773

 

Notes payable, net of discount

 

 

 

 

 

1,007

 

Total current liabilities

 

 

4,704

 

 

 

6,119

 

Non-current liabilities:

 

 

 

 

 

 

 

 

Warrant liabilities

 

 

54

 

 

 

45

 

Convertible notes payable

 

 

1,996

 

 

 

 

Operating lease liabilities

 

 

1,805

 

 

 

417

 

Total non-current liabilities

 

 

3,855

 

 

 

462

 

Commitments and contingencies

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

 

 

Common stock, par value $0.001 per share; 100,000,000 shares authorized; 5,589,880 and 5,159,618 shares issued and outstanding at 2026 and 2025, respectively

 

 

6

 

 

 

5

 

Additional paid-in capital

 

 

408,703

 

 

 

403,128

 

Accumulated comprehensive deficit

 

 

(391,375)

 

 

(384,743)

Total stockholders’ equity

 

 

17,334

 

 

 

18,390

 

Total liabilities and stockholders' equity

 

$25,893

 

 

$24,971

 

 


Smith Micro Software Second Quarter 2026 Financial Results

Page 5

 

Smith Micro Software, Inc.

Consolidated Statements of Operations

(in thousands except share data)

 

 

 

For the Three Months Ended

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(unaudited)

 

 

(unaudited)

 

 

(unaudited)

 

 

(unaudited)

 

Revenues

 

$

4,341

 

 

$

4,420

 

 

$

8,562

 

 

$

9,041

 

Cost of revenues

 

 

811

 

 

 

1,171

 

 

 

1,723

 

 

 

2,429

 

Gross profit

 

 

3,530

 

 

 

3,249

 

 

 

6,839

 

 

 

6,612

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Selling and marketing

 

 

1,234

 

 

 

1,665

 

 

 

2,710

 

 

 

3,309

 

Research and development

 

 

1,369

 

 

 

2,752

 

 

 

3,217

 

 

 

5,609

 

General and administrative

 

 

1,999

 

 

 

2,671

 

 

 

4,111

 

 

 

5,395

 

Depreciation and amortization

 

 

1,297

 

 

 

1,349

 

 

 

2,544

 

 

 

2,698

 

Gain on sale of ViewSpot, net

 

 

 

 

 

(1,287

)

 

 

 

 

 

(1,287

)

Goodwill impairment

 

 

 

 

 

11,052

 

 

 

 

 

 

11,052

 

Total operating expenses

 

 

5,899

 

 

 

18,202

 

 

 

12,582

 

 

 

26,776

 

Operating loss

 

 

(2,369

)

 

 

(14,953

)

 

 

(5,743

)

 

 

(20,164

)

Other (expense) income:

 

 

 

 

 

 

 

 

 

 

 

 

Change in fair value of warrant liabilities

 

 

(13

)

 

 

(20

)

 

 

(9

)

 

 

103

 

Interest expense, net

 

 

(221

)

 

 

(22

)

 

 

(747

)

 

 

(47

)

Other expense, net

 

 

(46

)

 

 

(67

)

 

 

(47

)

 

 

(131

)

Loss before provision for income tax

 

 

(2,649

)

 

 

(15,062

)

 

 

(6,546

)

 

 

(20,239

)

Provision for income tax expense

 

 

 

 

 

 

 

 

 

 

 

1

 

Net loss

 

$

(2,649

)

 

$

(15,062

)

 

$

(6,546

)

 

$

(20,240

)

Deemed dividend

 

 

(86

)

 

 

 

 

 

(86

)

 

 

 

Net loss attributable to common stockholders

 

$

(2,735

)

 

$

(15,062

)

 

$

(6,632

)

 

$

(20,240

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share attributable to common stockholders – basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(0.52

)

 

$

(3.88

)

 

$

(1.28

)

 

$

(5.38

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

5,212

 

 

 

3,883

 

 

 

5,175

 

 

 

3,764

 

 


Smith Micro Software Second Quarter 2026 Financial Results

Page 6

 

Smith Micro Software, Inc.

Consolidated Statements of Cash Flows

(in thousands)

 

 

 

For the Six Months Ended

 

 

 

June 30,

 

 

 

2026

 

 

2025

 

 

 

(unaudited)

 

 

(unaudited)

 

Operating activities:

 

 

 

 

 

 

 

 

Net loss

 

$

(6,546

)

 

$

(20,240

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

2,544

 

 

 

2,698

 

Goodwill impairment

 

 

 

 

 

11,052

 

Non-cash lease expense

 

 

(56

)

 

 

110

 

Change in fair value of warrant liabilities

 

 

9

 

 

 

(103

)

Amortization of debt discount and financing issuance costs

 

 

526

 

 

 

 

Provision for credit losses

 

 

 

 

 

103

 

Stock based compensation

 

 

757

 

 

 

2,183

 

Gain on sale of assets, net

 

 

6

 

 

 

 

Gain on sale of ViewSpot, net

 

 

 

 

 

(1,287)

 

Changes in operating accounts:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(800

)

 

 

3,051

 

Prepaid expenses and other assets

 

 

(155

)

 

 

(128)

 

Accounts payable, accrued, and other liabilities

 

 

(919

)

 

 

(309

)

Net cash used in operating activities

 

 

(4,634

)

 

 

(2,870

)

Investing activities:

 

 

 

 

 

 

 

 

Capital expenditures, net

 

 

(72

)

 

 

(31

)

Proceeds from sale of ViewSpot, net

 

 

 

 

 

987

 

Proceeds from sale of equipment, net

 

 

49

 

 

 

 

Net cash (used in) provided by investing activities

 

 

(23

)

 

 

956

 

Financing activities:

 

 

 

 

 

 

 

 

Proceeds from Common Stock and Warrant Offering

 

 

1,546

 

 

 

 

Proceeds from convertible notes, notes payable and warrants offerings

 

 

4,000

 

 

 

 

Proceeds from financing arrangements

 

 

800

 

 

 

933

 

Repayments of financing arrangements

 

 

(388

)

 

 

(428

)

Other financing activities

 

 

 

 

 

2

 

Net cash provided by financing activities

 

 

5,958

 

 

 

507

 

Net increase (decrease) in cash and cash equivalents

 

 

1,301

 

 

 

(1,407

)

Cash and cash equivalents, beginning of period

 

 

1,494

 

 

 

2,808

 

Cash and cash equivalents, end of period

 

$

2,795

 

 

$

1,401

 

 

 

 

 

 

 

 

 

 

Supplemental disclosure of non-cash financing activities:

 

 

 

 

 

 

 

 

Issuance of convertible notes in settlement and prepayment of notes payable

 

$

1,889

 

 

 

 

Deemed Dividend

 

$

86

 

 

 

 

 

 


Smith Micro Software Second Quarter 2026 Financial Results

Page 7

 

Smith Micro Software, Inc.

Reconciliation of GAAP to Non-GAAP Results

(in thousands, except per share data) - unaudited

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2026

 

GAAP

 

 

Stock Compensation

 

 

Intangibles Amortization

 

 

Depreciation

 

 

Fair Value Adjustments

 

 

Goodwill Impairment

 

 

Other¹

 

 

Non-GAAP

 

Gross profit

 

$

3,530

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

3,530

 

Selling and marketing

 

 

1,234

 

 

 

(56

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,178

 

Research and development

 

 

1,369

 

 

 

(34

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,335

 

General and administrative

 

 

1,999

 

 

 

(81

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(84

)

 

 

1,834

 

Depreciation and amortization

 

 

1,297

 

 

 

 

 

 

(1,177

)

 

 

(120

)

 

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

$

5,899

 

 

$

(171

)

 

$

(1,177

)

 

$

(120

)

 

$

 

 

$

 

 

$

(84

)

 

$

4,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before provision for income taxes

 

$

(2,649

)

 

$

171

 

 

$

1,177

 

 

$

120

 

 

$

13

 

 

$

 

 

$

84

 

 

$

(1,084

)

Net loss attributable to common stockholders

 

$

(2,735

)

 

$

171

 

 

$

1,177

 

 

$

120

 

 

$

13

 

 

$

 

 

$

265

 

 

$

(989

)

(Loss) earnings per share: basic and diluted

 

$

(0.52

)

 

$

0.03

 

 

$

0.23

 

 

$

0.02

 

 

$

 

 

$

 

 

$

0.05

 

 

$

(0.19

)

Note: (Loss) earnings per share: basic and diluted - may be impacted by rounding to allow rows to calculate.

1Other includes approximately $84 of costs associated with shareholder-approved reverse stock split, deemed dividends of $86 and amortization of debt discount and financing issuance costs of approximately $95.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2025

 

GAAP

 

 

Stock Compensation

 

 

Intangibles Amortization

 

 

Depreciation

 

 

Fair Value Adjustments

 

 

Goodwill Impairment

 

 

Other¹

 

 

Non-GAAP

 

Gross profit

 

$

3,249

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

3,249

 

Selling and marketing

 

 

1,665

 

 

 

(263

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,402

 

Research and development

 

 

2,752

 

 

 

(204

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,548

 

General and administrative

 

 

2,671

 

 

 

(629

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(78

)

 

 

1,964

 

Depreciation and amortization

 

 

1,349

 

 

 

 

 

 

(1,276

)

 

 

(73

)

 

 

 

 

 

 

 

 

 

 

 

 

Gain on sale of ViewSpot, net

 

 

(1,287

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,287

 

 

 

 

Goodwill impairment

 

 

11,052

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(11,052

)

 

 

 

 

 

 

Total operating expenses

 

$

18,202

 

 

$

(1,096

)

 

$

(1,276

)

 

$

(73

)

 

$

 

 

$

(11,052

)

 

$

1,209

 

 

$

5,914

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before provision for income taxes

 

$

(15,062

)

 

$

1,096

 

 

$

1,276

 

 

$

73

 

 

$

20

 

 

$

11,052

 

 

$

(1,209

)

 

$

(2,754

)

Net loss attributable to common stockholders

 

$

(15,062

)

 

$

1,096

 

 

$

1,276

 

 

$

73

 

 

$

20

 

 

$

11,052

 

 

$

(1,209

)

 

$

(2,754

)

(Loss) earnings per share: basic and diluted

 

$

(3.88

)

 

$

0.28

 

 

$

0.33

 

 

$

0.02

 

 

$

0.01

 

 

$

2.85

 

 

$

(0.31

)

 

$

(0.71

)

Note: (Loss) earnings per share: basic and diluted - may be impacted by rounding to allow rows to calculate.

1Other includes costs associated with executive transition of approximately $78, offset by gain from sale of ViewSpot of $1,287.

 


Smith Micro Software Second Quarter 2026 Financial Results

Page 8

 

Smith Micro Software, Inc.

Reconciliation of GAAP to Non-GAAP Results

(in thousands, except per share data) - unaudited

 

Six Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2026

 

GAAP

 

 

Stock Compensation

 

 

Intangibles Amortization

 

 

Depreciation

 

 

Fair Value Adjustments

 

 

Goodwill Impairment

 

 

Other¹

 

 

Non-GAAP

 

Gross profit

 

$

6,839

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

6,839

 

Selling and marketing

 

 

2,710

 

 

 

(288

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(82

)

 

 

2,340

 

Research and development

 

 

3,217

 

 

 

(115

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,102

 

General and administrative

 

 

4,111

 

 

 

(354

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(129

)

 

 

3,628

 

Depreciation and amortization

 

 

2,544

 

 

 

 

 

 

(2,355

)

 

 

(189

)

 

 

 

 

 

 

 

 

 

 

 

 

Total operating expenses

 

$

12,582

 

 

$

(757

)

 

$

(2,355

)

 

$

(189

)

 

$

 

 

$

 

 

$

(211

)

 

$

9,070

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before provision for income taxes

 

$

(6,546

)

 

$

757

 

 

$

2,355

 

 

$

189

 

 

$

9

 

 

$

 

 

$

737

 

 

$

(2,499

)

Net loss attributable to common stockholders

 

$

(6,632

)

 

$

757

 

 

$

2,355

 

 

$

189

 

 

$

9

 

 

$

 

 

$

823

 

 

$

(2,499

)

(Loss) earnings per share: basic and diluted

 

$

(1.28

)

 

$

0.15

 

 

$

0.46

 

 

$

0.04

 

 

$

 

 

$

 

 

$

0.16

 

 

$

(0.48

)

 

Note: (Loss) earnings per share: basic and diluted - may be impacted by rounding to allow rows to calculate.

1Other includes personnel and reorganization costs of $127, approximately $84 of costs associated with shareholder-approved reverse stock split, deemed dividends of $86 and amortization of debt discount and financing issuance costs of approximately $526.

 

Six Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2025

 

GAAP

 

 

Stock Compensation

 

 

Intangibles Amortization

 

 

Depreciation

 

 

Fair Value Adjustments

 

 

Goodwill Impairment

 

 

Other¹

 

 

Non-GAAP

 

Gross profit

 

$

6,612

 

 

$

 

 

$

 

 

$

1

 

 

$

 

 

$

 

 

$

 

 

$

6,613

 

Selling and marketing

 

 

3,309

 

 

 

(498

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,811

 

Research and development

 

 

5,609

 

 

 

(418

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,191

 

General and administrative

 

 

5,395

 

 

 

(1,267

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(78

)

 

 

4,050

 

Depreciation and amortization

 

 

2,698

 

 

 

 

 

 

(2,552

)

 

 

(146

)

 

 

 

 

 

 

 

 

 

 

 

 

Gain on sale of ViewSpot, net

 

 

(1,287

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,287

 

 

 

 

Goodwill impairment

 

 

11,052

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(11,052

)

 

 

 

 

 

 

Total operating expenses

 

$

26,776

 

 

$

(2,183

)

 

$

(2,552

)

 

$

(146

)

 

$

 

 

$

(11,052

)

 

$

1,209

 

 

$

12,052

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before provision for income taxes

 

$

(20,239

)

 

$

2,183

 

 

$

2,552

 

 

$

146

 

 

$

(103

)

 

$

11,052

 

 

$

(1,209

)

 

$

(5,618

)

Net loss attributable to common stockholders

 

$

(20,240

)

 

$

2,183

 

 

$

2,552

 

 

$

146

 

 

$

(103

)

 

$

11,052

 

 

$

(1,209

)

 

$

(5,619

)

(Loss) earnings per share: basic and diluted

 

$

(5.38

)

 

$

0.58

 

 

$

0.68

 

 

$

0.04

 

 

$

(0.03

)

 

$

2.94

 

 

$

(0.32

)

 

$

(1.49

)

Note: (Loss) earnings per share: basic and diluted - may be impacted by rounding to allow rows to calculate.

1Other includes costs associated with executive transition of approximately $78, offset by gain from sale of ViewSpot of $1,287.

 

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Document And Entity Information
Aug. 01, 2026
Document Information [Line Items]  
Entity, Registrant Name Smith Micro Software, Inc.
Document, Type 8-K
Document, Period End Date Aug. 13, 2026
Entity, Incorporation, State or Country Code DE
Entity, File Number 001-35525
Entity, Tax Identification Number 33-0029027
Entity, Address, Address Line One 5800 Corporate Drive
Entity, Address, City or Town Pittsburgh
Entity, Address, State or Province PA
Entity, Address, Postal Zip Code 15237
City Area Code 412
Local Phone Number 837-5300
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock
Trading Symbol SMSI
Security Exchange Name NASDAQ
Entity, Emerging Growth Company false
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