Technology · Software - Application
Price
$2.81
Market Cap
$11.6M
Employees
164
Beta
0.66
Avg Volume
152,982
CEO
William W. Smith Jr.
Business Description
Smith Micro Software, Inc. engineers and distributes specialized software solutions globally, primarily to telecommunications and cable service providers, with the goal of enriching the mobile experience. Their product lineup includes the SafePath suite—encompassing SafePath Family, SafePath IoT, and SafePath Home—which provides users with essential tools to protect their digital activities and manage connected devices both within and beyond their households. Additionally, the company offers CommSuite, an advanced messaging platform that empowers mobile carriers to deliver state-of-the-art voicemail services, including multi-language voice-to-text transcription, to their subscribers. Another core offering is ViewSpot, a retail display management system that delivers interactive, on-screen demonstrations for wireless carriers and their retail partners. Beyond its software products, Smith Micro Software also furnishes comprehensive technical assistance and customer support. The company was established in 1982 and maintains its corporate headquarters in Pittsburgh, Pennsylvania.
Business History
Price Overview
Last updated: Jun 27, 2026 9:00am (just now)$2.81
+0.08 (+2.93%)
Day Range
$2.69 – $2.83
52-Week Range
$2.05 – $6.50
50-Day MA
$3.81
200-Day MA
$3.38
Volume
62,958.00
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.38
Stock Price: $2.81
EPS (Diluted): -7.30
EPS (Diluted): -7.30
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
0.61
Stock Price: $2.81
Total Equity: $18.39M
Shares: 4,121,000
Total Equity: $18.39M
Shares: 4,121,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-5.87
Market Cap: $11.58M
Total Debt: $1.01M
Cash: $1.49M
EBITDA: -$23.60M
Total Debt: $1.01M
Cash: $1.49M
EBITDA: -$23.60M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$13.6M
Market Cap: $11.58M
Total Debt: $1.01M
Cash: $1.49M
Total Debt: $1.01M
Cash: $1.49M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.64
Stock Price: $2.81
Revenue: $17.36M
Shares: 4,121,000
Revenue: $17.36M
Shares: 4,121,000
EV/Sales (Total value vs revenue — works when P/E can't)
API0.80
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
74.1%
Gross Profit: $12.86M
Revenue: $17.36M
Revenue: $17.36M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-110.8%
Operating Income: -$19.25M
Revenue: $17.36M
Revenue: $17.36M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-173.3%
Net Income: -$30.10M
Revenue: $17.36M
Revenue: $17.36M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-141.9%
Net Income: -$30.10M
Total Equity: $18.39M
Total Equity: $18.39M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-118.2%
Operating Income: -$19.25M
Tax Rate: -2.4%
Equity: $18.39M
Total Debt: $1.01M
Cash: $1.49M
Tax Rate: -2.4%
Equity: $18.39M
Total Debt: $1.01M
Cash: $1.49M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
1.37
Current Assets: $4.53M
Current Liabilities: $6.12M
Current Liabilities: $6.12M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.05
Short-Term Debt: $1.01M
Long-Term Debt: $0.00
Total Debt: $1.01M
Total Equity: $18.39M
Long-Term Debt: $0.00
Total Debt: $1.01M
Total Equity: $18.39M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$4.21
Revenue: $17.36M
Shares: 4,121,000
Shares: 4,121,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$4.46
Total Equity: $18.39M
Shares: 4,121,000
Shares: 4,121,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.77
Operating CF: -$7.19M
CapEx: -$88,000
Shares: 4,121,000
CapEx: -$88,000
Shares: 4,121,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $2.81
Stock Price: $2.81
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$30.10M
Net Income: -$30.10M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares SMSI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 23, 2026 9:54pm (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $58.4M | $48.5M | $40.9M | $20.6M | $17.4M |
| Cost of Revenue | $12.7M | $14.2M | $10.6M | $6.1M | $4.5M |
| Gross Profit | $45.7M | $34.3M | $30.3M | $14.4M | $12.9M |
| Operating Expenses | $76.7M | $65.2M | $48.4M | $63.8M | $32.1M |
| Operating Income | -$30.9M | -$30.9M | -$18.1M | -$49.4M | -$19.2M |
| Net Income | -$31.0M | -$29.3M | -$24.4M | -$48.7M | -$30.1M |
| EBITDA | -$8.7M | -$17.7M | -$10.5M | -$19.1M | -$23.6M |
| EPS | $-24.40 | $-21.20 | $-15.20 | $-19.70 | $-7.30 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 23, 2026 9:54pm (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $16.1M | $14.0M | $7.1M | $2.8M | $1.5M |
| Total Current Assets | $28.7M | $26.5M | $16.9M | $10.0M | $4.5M |
| Total Assets | $114.5M | $103.6M | $85.6M | $48.0M | $25.0M |
| Current Liabilities | $9.4M | $20.7M | $7.6M | $5.7M | $6.1M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $14.0M | $27.2M | $10.2M | $7.3M | $6.6M |
| Total Equity | $100.6M | $76.4M | $75.4M | $40.8M | $18.4M |
| Retained Earnings | -$252.3M | -$281.6M | -$305.9M | -$354.6M | -$384.7M |
Cash Flow (Annual)
Last updated: Jun 23, 2026 9:54pm (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$12.9M | -$19.3M | -$7.0M | -$14.3M | -$7.2M |
| Capital Expenditure | $-830,000 | $-49,000 | $-4,000 | $-20,000 | $-88,000 |
| Free Cash Flow | -$13.7M | -$19.3M | -$7.0M | -$14.3M | -$7.3M |
| Acquisitions (net) | -$56.9M | $0 | $0 | $0 | $1.3M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$9.7M | -$2.1M | -$6.9M | -$4.3M | -$1.3M |
Growth Trends (YoY %)
Last updated: Jun 23, 2026 9:54pm (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -17.0% | -15.8% | -49.7% | -15.5% |
| Gross Profit Growth | -25.0% | -11.7% | -52.4% | -10.9% |
| Operating Income Growth | +0.0% | +41.6% | -173.6% | +61.0% |
| Net Income Growth | +5.7% | +16.7% | -99.6% | +38.2% |
| EBITDA Growth | -102.3% | +40.6% | -82.1% | -23.5% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for SMSI — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30