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Smith Micro Software (SMSI)
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Smith Micro Software Income Statement 2025-2011 | SMSI
Brief overview of income trends at Smith Micro Software
This overview is based on financial performance over the past five years. Smith Micro Software reported revenue of $51.3 million in 2020 and $17.4 million by 2025. The five-year change reached −66.2%, while CAGR stood at −19.5%. The decline points to a contraction in the scale of the business.
The five-year change in gross profit reached −72.1%: from $46.1 million to $12.9 million. The relationship between sales and direct costs deteriorated. At the margin level, the figure shifted from 89.9% to 74.1%. The contraction points to pressure from direct costs or weaker pricing power.
Over the period, EBITDA shifted from $7.1 million to −$23.6 million, a change of −431.5%. EBITDA underperformed the top-line trend. The EBITDA share of revenue changed from 13.9% to −136%. The business retained less EBITDA from each unit of revenue.
Across the five years, the net result shifted from $4.2 million to −$29.3 million. Profit turned into a loss, the most concerning signal in the results.
The market value of the business moved from $260 million to $14 million, or −94.6%. Lower capitalization reflects weaker investor expectations.
What the figures show
The results contain several connected negative signals. The weaker side of the profile includes pressure on operating profitability, weak sales momentum and a lower gross margin. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.
Annual Income Statement Smith Micro Software
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
14 M | 8.41 M | 30.5 M | 26 M | 205 M | 260 M | 174 M | 40.6 M | 33.9 M | 21.3 M | 25.7 M | 64.6 M | 60.3 M | 54.8 M | 67 M |
Shares |
20.6 M | 12.4 M | 64.9 M | 55.4 M | 51.2 M | 40.8 M | 34.5 M | 22.3 M | 13.5 M | 12 M | 11.5 M | 10.2 M | 9.25 M | 8.96 M | 8.9 M |
Historical Prices |
0.68 | 0.68 | 0.47 | 0.47 | 4.16 | 6.6 | 5.36 | 1.9 | 2.16 | 1.31 | 2.68 | 5.96 | 7 | 5.84 | 10.2 |
Net Income |
-29.3 M | -48.7 M | -24.4 M | -29.3 M | -31 M | 4.16 M | 10.7 M | -2.74 M | -6.66 M | -14.5 M | -2.6 M | -11.8 M | -28 M | -25.5 M | -160 M |
Revenue |
17.4 M | 20.6 M | 40.9 M | 48.5 M | 58.4 M | 51.3 M | 43.3 M | 26.3 M | 23 M | 28.2 M | 39.5 M | 37 M | 42.7 M | 43.3 M | 57.8 M |
Cost of Revenue |
4.5 M | 6.13 M | 10.6 M | 14.2 M | 12.7 M | 5.19 M | 3.93 M | 4.33 M | 5.08 M | 7.56 M | 8.15 M | 9.32 M | 9.71 M | 8.45 M | 13.8 M |
Gross Profit |
12.9 M | 14.4 M | 30.3 M | 34.3 M | 45.7 M | 46.1 M | 39.4 M | 22 M | 17.9 M | 20.7 M | 31.4 M | 27.7 M | 33 M | 34.9 M | 44 M |
Operating Income |
-29 M | -49.4 M | -18.1 M | -30.9 M | -30.9 M | 3.52 M | 10.1 M | -1.21 M | -5.67 M | -15.9 M | -2.54 M | -11.7 M | -27.8 M | -27 M | -166 M |
Interest Expense |
-164 K | 196 K | -52 K | -115 K | 76 K | -3 K | -14 K | -26 K | -8 K | -22 K | 3 K | -3 K | - | - | - |
EBITDA |
-23.6 M | -43.1 M | -10.7 M | -23.4 M | -29.7 M | 7.12 M | 11.6 M | -262 K | -4.88 M | -13.8 M | -634 K | -6.38 M | -18.2 M | -22.3 M | -39.4 M |
Operating Expenses |
41.9 M | 63.8 M | 48.4 M | 65.2 M | 76.7 M | 42.6 M | 29.1 M | 23 M | 23.7 M | 35.9 M | 33.9 M | 37 M | 55.2 M | 61.6 M | 93.6 M |
General and Administrative Expenses |
10 M | 10.6 M | 12.8 M | 15.5 M | 17.9 M | 12.8 M | 9.92 M | 8.61 M | 8.55 M | 10.3 M | 11.1 M | 13.2 M | 18.2 M | 20.2 M | 25.3 M |
All numbers in USD currency
Quarterly Income Statement Smith Micro Software
| 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
21 M | 19.4 M | 18.2 M | 17.7 M | 11.8 M | 10.6 M | 9.47 M | 9.35 M | 67.4 M | 7.81 M | 61.6 M | 56.2 M | 55.7 M | 55.2 M | 54.5 M | 54.3 M | 53.9 M | 53 M | 43.4 M | 41.3 M | 41.4 M | 41.1 M | 39.5 M | 38.5 M | 36.1 M | 32.1 M | 31.3 M | 26.9 M | 25 M | 21.9 M | 15.3 M | 14.3 M | 14.3 M | 13.2 M | 12.2 M | 12.3 M | 12.2 M | 11.7 M | 11.5 M | 11.5 M | 11.5 M | 11.6 M | 11.4 M | 45.1 M | 41.2 M | 38.5 M | 37.7 M | 37 M | 37 M | 37.2 M | 36.6 M | 35.9 M | 35.9 M | 36 M | 35.6 M | 35.7 M | 35.7 M | 35.8 M | 35.3 M |
Net Income |
-4.54 M | -15.1 M | -5.18 M | - | -6.37 M | -6.93 M | -31 M | - | -5.13 M | -5.66 M | -6.89 M | - | -5.81 M | -8.49 M | -7 M | - | -18.6 M | -5.2 M | -3.22 M | 580 K | 161 K | 1.38 M | 2.04 M | 3.67 M | 3.57 M | 3.44 M | 48 K | 2.8 M | -983 K | -2.18 M | -2.38 M | -160 K | -1.67 M | -1.95 M | -2.88 M | -3.72 M | -4.31 M | -3.28 M | -3.71 M | -591 K | -770 K | -1.23 M | -10 K | 205 K | -1.14 M | -5.7 M | -5.17 M | -1.5 M | -13 M | -7.24 M | -6.16 M | -4.14 M | -4.81 M | -6.82 M | -9.68 M | -9.52 M | -134 M | -7.85 M | -7.75 M |
Revenue |
4.35 M | 4.42 M | 4.62 M | - | 4.65 M | 5.14 M | 5.8 M | - | 11 M | 10.3 M | 10.9 M | - | 11.7 M | 12.7 M | 12.7 M | - | 16.4 M | 15.9 M | 11.4 M | 12.4 M | 12.6 M | 12.9 M | 13.3 M | 12.3 M | 11.8 M | 10.9 M | 8.43 M | 7.35 M | 6.52 M | 6.94 M | 5.46 M | 5.73 M | 5.8 M | 5.86 M | 5.58 M | 7.08 M | 6.48 M | 7.46 M | 7.21 M | 10 M | 9.59 M | 9.39 M | 10.5 M | 10.6 M | 9.45 M | 8.53 M | 8.45 M | 11.8 M | 8.75 M | 10.5 M | 11.6 M | 12 M | 11 M | 10.2 M | 10.1 M | 11.2 M | 12.6 M | 16.1 M | 17.8 M |
Cost of Revenue |
1.14 M | 1.17 M | 1.26 M | - | 1.32 M | 1.61 M | 1.99 M | - | 2.53 M | 2.59 M | 3.28 M | - | 3.63 M | 3.62 M | 3.64 M | - | 3.69 M | 3.36 M | 1.54 M | - | 1.33 M | 1.27 M | 1.17 M | - | 1.01 M | 974 K | 916 K | - | 979 K | 1.12 M | 1.31 M | - | 1.16 M | 1.28 M | 1.28 M | - | 1.8 M | 1.91 M | 2.11 M | - | 1.96 M | 2.07 M | 2.12 M | - | 2.2 M | 2.45 M | 2.42 M | - | 2.49 M | 2.4 M | 2.44 M | - | 2.12 M | 1.8 M | 2.2 M | - | 3.7 M | 3.56 M | 3.78 M |
Gross Profit |
3.21 M | 3.25 M | 3.36 M | - | 3.33 M | 3.53 M | 3.81 M | - | 8.47 M | 7.75 M | 7.65 M | - | 8.07 M | 9.06 M | 9.1 M | - | 12.8 M | 12.6 M | 9.84 M | 11 M | 11.3 M | 11.7 M | 12.1 M | 11.3 M | 10.8 M | 9.88 M | 7.52 M | 6.42 M | 5.55 M | 5.83 M | 4.15 M | 4.38 M | 4.64 M | 4.58 M | 4.29 M | 5.34 M | 4.68 M | 5.55 M | 5.1 M | 8 M | 7.63 M | 7.32 M | 8.41 M | 8.31 M | 7.25 M | 6.08 M | 6.03 M | 9.47 M | 6.25 M | 8.08 M | 9.16 M | 9.7 M | 8.89 M | 8.38 M | 7.92 M | 8.51 M | 8.93 M | 12.5 M | 14 M |
Operating Income |
-4.48 M | -15 M | -5.21 M | - | -6.51 M | -6.98 M | -31.4 M | - | -2.18 M | -3.24 M | -6.94 M | - | -8.36 M | -8.37 M | -7.04 M | - | -18.5 M | -5.21 M | -3.24 M | -12 K | 196 K | 1.38 M | 1.96 M | 3.63 M | 3.48 M | 2.93 M | 62 K | 678 K | 55 K | 74 K | -2.02 M | -535 K | -942 K | -1.62 M | -2.58 M | -3.76 M | -4.56 M | -3.91 M | -3.68 M | -547 K | -768 K | -1.22 M | 2 K | 217 K | -1.14 M | -5.68 M | -5.13 M | -1.5 M | -13 M | -7.25 M | -6.1 M | -4.56 M | -6.01 M | -6.82 M | -9.62 M | -11.6 M | -128 M | -13 M | -13 M |
Interest Expense |
-18 K | -67 K | -65 K | - | -71 K | -18 K | 219 K | - | 15 K | -36 K | -40 K | - | 9 K | -91 K | 59 K | - | -2 K | 5 K | 4 K | - | 3 K | 2 K | 86 K | - | -15 K | -6 K | -10 K | - | -1 K | -10 K | -40 K | - | -2 K | 1 K | -10 K | - | 83 K | -15 K | - | - | 4 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
-3.14 M | -13.6 M | -3.86 M | - | -5.08 M | -5.44 M | -29.5 M | - | -614 K | -1.62 M | -5.25 M | - | -6.53 M | -6.5 M | -5.07 M | - | -9.59 M | 271 K | -740 K | -12 K | 2.87 M | 3.04 M | 2.6 M | 3.63 M | 4.48 M | 3.61 M | 383 K | 678 K | 706 K | 481 K | -1.81 M | -535 K | -248 K | -1.16 M | -2.34 M | -3.66 M | -3.46 M | -3.13 M | -3.25 M | -547 K | 679 K | -255 K | 497 K | 217 K | 1.23 M | -4 M | -4.26 M | -1.5 M | -9.87 M | -5.13 M | -5.03 M | -4.56 M | -2.69 M | -4.61 M | -8.5 M | -11.6 M | -119 M | -7.23 M | -10.3 M |
Operating Expenses |
7.7 M | 18.2 M | 8.57 M | - | 9.83 M | 10.5 M | 35.3 M | - | 10.7 M | 11 M | 14.6 M | - | 16.4 M | 17.4 M | 16.1 M | - | 31.2 M | 17.8 M | 13.1 M | - | 11.1 M | 10.3 M | 10.2 M | - | 7.29 M | 6.95 M | 7.45 M | - | 5.49 M | 5.76 M | 6.18 M | - | 5.59 M | 6.2 M | 6.87 M | - | 9.24 M | 9.46 M | 8.78 M | - | 8.4 M | 8.54 M | 8.41 M | - | 8.39 M | 11.8 M | 11.2 M | - | 19.2 M | 15.3 M | 15.3 M | - | 14.9 M | 15.2 M | 17.5 M | - | 137 M | 25.6 M | 27 M |
General and Administrative Expenses |
2.27 M | 2.67 M | 2.72 M | - | 2.72 M | 2.74 M | 2.76 M | - | 2.93 M | 3.04 M | 3.48 M | - | 4.21 M | 3.75 M | 3.92 M | - | 5.14 M | 4.95 M | 3.66 M | - | 3 M | 3.07 M | 3.67 M | - | 2.4 M | 2.43 M | 2.7 M | - | 2.05 M | 2.06 M | 2.19 M | - | 2.22 M | 2.24 M | 2.19 M | - | 2.52 M | 2.87 M | 2.49 M | - | 2.7 M | 2.86 M | 2.88 M | - | 3.06 M | 3.42 M | 3.88 M | - | 4.57 M | 4.86 M | 4.94 M | - | 5.01 M | 5.15 M | 5.5 M | - | 5.88 M | 7.18 M | 6.98 M |
All numbers in USD currency
The income statement is one of the three key financial reports of a company Smith Micro Software (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
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