New Risk • May 04
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$30m Forecast net loss in 2 years: US$3.1m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$3.1m net loss in 2 years). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$22.4m market cap). New Risk • Apr 30
New major risk - Revenue and earnings growth Earnings have declined by 19% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 19% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$21.1m market cap). Announcement • Apr 23
Smith Micro Software, Inc. to Report Q1, 2026 Results on Apr 29, 2026 Smith Micro Software, Inc. announced that they will report Q1, 2026 results After-Market on Apr 29, 2026 Announcement • Apr 17
Smith Micro Software, Inc., Annual General Meeting, May 26, 2026 Smith Micro Software, Inc., Annual General Meeting, May 26, 2026. Location: meetnow.global/mcvkkst, United States Announcement • Mar 17
Smith Micro Software, Inc. announced that it has received $4.889325 million in funding On March 16, 2026, Smith Micro Software, Inc. closed the transaction. The company raised $4,889,325 in the transaction. Reported Earnings • Mar 06
Full year 2025 earnings released Full year 2025 results: Net income: (up US$48.7m from FY 2024). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 60% per year, which means it is significantly lagging earnings. Price Target Changed • Mar 05
Price target decreased by 38% to US$2.50 Down from US$4.00, the current price target is an average from 2 analysts. New target price is 268% above last closing price of US$0.68. Stock is down 44% over the past year. The company is forecast to post a net loss per share of US$0.47 next year compared to a net loss per share of US$1.56 last year. Announcement • Feb 26
Smith Micro Software, Inc. to Report Q4, 2025 Results on Mar 04, 2026 Smith Micro Software, Inc. announced that they will report Q4, 2025 results After-Market on Mar 04, 2026 Breakeven Date Change • Feb 25
No longer forecast to breakeven The analyst covering Smith Micro Software no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of US$9.00m in 2027. New forecast suggests the company will make a loss of US$2.50m in 2027. Price Target Changed • Jan 15
Price target increased by 13% to US$4.50 Up from US$4.00, the current price target is an average from 2 analysts. New target price is 676% above last closing price of US$0.58. Stock is down 49% over the past year. The company is forecast to post a net loss per share of US$1.34 next year compared to a net loss per share of US$3.94 last year. Board Change • Jan 15
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Asha Keddy was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 07
Smith Micro Software, Inc. Announces Launch of SafePath OS for Senior Phone Smith Micro Software, Inc. announced the official launch of its SafePath OS™? for Senior Phone. A carrier-grade software solution designed to meet the unique needs of older adults, SafePath OS for Senior Phone also delivers a significant value proposition to mobile network operators around the world. SafePathOS for Senior Phone builds on the proven foundation of Smith Micro's SafePath®? platform, introducing a tailored solution that meets the needs of today's senior market. This diverse audience spans fully independent seniors, active seniors who want some extra support, as well as those seniors who rely on caregivers for assistance. The experience is designed to simplify technology, while delivering essential safety tools that seniors want and need and enabling the creation of a trusted safety net of family and friends. SafePath OS for Senior Phone is engineered to simplify technology and enhance safety: Easy-to-Use Interface: Large font, simplified navigation, and voice assisted support; Simple Onboarding: Streamlined setup process with step-by-step guidance; Real-TimeLocation & Geofences: Location sharing with alerts when entering or exiting safe zones; Drive & Crash Detection: Monitors driving behavior and detects collisions; Check-In & Family SOSAlerts: One tap check-in and emergency alerts to family members. A Strategic Opportunity for Carriers: The senior market represents a significant opportunity in an underserved market. As families seek solutions that balance independence with safety for older adults, carriers can lead the way by offering a phone experience that prioritizes care without compromising dignity; Brand Customization: Aligns with carrier branding, plans, and promotions; New Marketing Channels: Promotes additional services through a trusted safety-first platform. SafePath OS for Senior Phone is available now. Announcement • Dec 25
Smith Micro Gets Additional 180 Days to Regain Compliance with Nasdaq Listing Rules As previously announced, on June 23, 2025, Smith Micro Software, Inc. (the Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market (Nasdaq") advising that the Company was not incompliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the Minimum Bid Price Requirement") as a result of the closing bid price of the Company's common stock (Common Stock") having been below $1.00 for thirty consecutive business days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company was granted a period of 180 calendar days from the notification date, or until December 22, 2025, to regain compliance with the Minimum Bid Price Requirement. On December 23, 2025, the Company received a written notice from Nasdaq (the December Notice") granting an additional 180 days, or until June 22, 2026, to regain compliance with the Minimum Bid Price Requirement. If at any time before June 22, 2026, the closing bid price of the Company's Common Stock is at least $1.00 per share for a minimum of ten consecutive business days, unless Nasdaq exercises its discretion to extend this ten-day period, Nasdaq will provide written confirmation stating that the Company has achieved compliance with the Minimum Bid Price Requirement. The December Notice has no immediate effect on the continued listing status of the Company's Common Stock on The Nasdaq Capital Market, and the Company's listing remains fully effective. The Company intends to monitor the closing bid price of its Common Stock and assess its available options in order to regain compliance with the Minimum Bid Price Requirement and continue listing on The Nasdaq Capital Market, including by effecting a reverse stock split, if necessary. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement or will otherwise be in compliance with the other Nasdaq listing requirements. Announcement • Nov 20
Smith Micro Software, Inc. announced that it has received $1.5 million in funding On November 20, 2025, Smith Micro Software, Inc. closed the transaction. Announcement • Sep 18
Smith Micro Software, Inc. announced that it has received $0.933 million in funding from Smith Living Trust On September 17, 2025, The company has closed the transaction. The company has amended the terms of the transaction. The company received $933,000 in the transaction, where it received $833,000 from Smith (comprised of $709,706 as a loan and $123,293 for the purchase of the accompanying Warrants) and $100,000 from Huffmyer (comprised of $85,030 as a loan and $14,970 for the purchase of the accompanying Warrants).
On the same date the company has received it's second and final tranche. Reported Earnings • Aug 08
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: US$0.78 loss per share (further deteriorated from US$0.66 loss in 2Q 2024). Revenue: US$4.42m (down 14% from 2Q 2024). Net loss: US$15.1m (loss widened 117% from 2Q 2024). Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US. Breakeven Date Change • Aug 07 The 2 analysts covering Smith Micro Software previously expected the company to break even in 2027. New consensus forecast suggests losses will reduce by 63% per year to 2026. The company is expected to make a profit of US$5.90m in 2027. Average annual earnings growth of 114% is required to achieve expected profit on schedule.
Announcement • Jul 31
Smith Micro Software, Inc. to Report Q2, 2025 Results on Aug 06, 2025 Smith Micro Software, Inc. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 Announcement • Jul 19
Smith Micro Software, Inc. has completed a Follow-on Equity Offering in the amount of $1.5 million. Smith Micro Software, Inc. has completed a Follow-on Equity Offering in the amount of $1.5 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,612,903
Price\Range: $0.93
Transaction Features: Registered Direct Offering Announcement • Jun 25
Smith Micro Software Receives a Letter from the Listing Qualifications Staff of the Nasdaq Stock Market On June 23, 2025, Smith Micro Software, Inc. (the “Company”) received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market (“Nasdaq”) indicating that as a result of the closing bid price of the Company’s common stock (“Common Stock”) for the last 30 consecutive business days having been below the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”) the Company was not in compliance with the Minimum Bid Price Requirement (the “Minimum Bid Price Notice”). The Minimum Bid Price Notice has no immediate effect on the continued listing status of the Company’s Common Stock on The Nasdaq Capital Market, and, therefore, the Company’s listing remains fully effective. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until December 22, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before December 22, 2025, the closing bid price of the Common Stock is at least $1.00 per share for a minimum of ten consecutive business days, unless Nasdaq exercises its discretion to extend this ten-day period, Nasdaq will provide written confirmation stating that the Company has achieved compliance with the Minimum Bid Price Requirement. If the Company’s Common Stock does not regain compliance with the Minimum Bid Price Requirement during this initial 180-day compliance period, the Company may be eligible for an additional compliance period of 180 calendar days provided that (i) the Company satisfies Nasdaq’s continued listing requirement for market value of publicly held shares and all other initial listing standards, other than the Minimum Bid Price Requirement; and (ii) the Company provides written notice to Nasdaq of its intention to cure the deficiency during the second grace period. The Company intends to monitor the closing bid price of its Common Stock and assess its available options in order to regain compliance with the Minimum Bid Price Requirement and continue listing on The Nasdaq Capital Market. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement or will otherwise be in compliance with the other Nasdaq listing requirements. Breakeven Date Change • May 12
Forecast to breakeven in 2027 The 2 analysts covering Smith Micro Software expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 66% per year to 2026. The company is expected to make a profit of US$5.90m in 2027. Average annual earnings growth of 80% is required to achieve expected profit on schedule. Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: US$0.28 loss per share (improved from US$3.28 loss in 1Q 2024). Revenue: US$4.62m (down 20% from 1Q 2024). Net loss: US$5.18m (loss narrowed 83% from 1Q 2024). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Major Estimate Revision • May 09
Consensus revenue estimates fall by 15% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$26.2m to US$22.3m. Forecast losses increased from -US$0.675 to -US$0.94 per share. Software industry in the US expected to see average net income growth of 16% next year. Consensus price target of US$4.83 unchanged from last update. Share price fell 9.4% to US$0.96 over the past week. New Risk • May 09
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$49m Forecast net loss in 2 years: US$5.7m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (85% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$14m). Currently unprofitable and not forecast to become profitable over next 2 years (US$5.7m net loss in 2 years). Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (US$18.6m market cap). Announcement • May 08
Smith Micro Software, Inc. Unveils SafePath® 8: A Bold Leap into AI-Powered Family Safety Smith Micro Software, Inc. announced the upcoming launch of SafePath 8, the next-generation evolution of its industry-leading family safety platform. Launching in 2025, SafePath 8 will introduce a suite of AI-driven features designed to help families navigate and manage their digital lives with greater confidence, control, and care. These new capabilities will be available across the full SafePath ecosystem, including the SafePath Kids rate plan solution, over-the-top (OTT) apps, and SafePath OS-powered phones for kids and seniors. Whether it’s a connected app or a purpose-built device, SafePath 8 will bring smarter safety to every family. Social Media Intelligence: Upon release, SafePath 8 will help parents better understand their children’s online world. Using Advanced AI, Social Media Intelligence, SafePath will automatically notify parents of areas of potential concern appearing in their children’s social media activity, including content containing cyberbullying, hate speech, profanity, and self-harm. These insights will allow parents to react quickly and have valuable conversations with their children about their online activities. Dynamic Age-Awareness: With SafePath 8, the company also plans to introduce a dynamic age-aware platform that can adapt to the child’s age. Once parents enter their child’s age group during setup, SafePath will automatically enter a self-configuring mode that will establish age-based settings for the child across several categories of protection based on recommendations of industry-leading experts, allowing parents to have an expert based starting point, while also having the ability to change these settings within the application to those they feel are most appropriate for their children. AI Blocking Function: Another key new enhancement planned for future release on the SafePath 8 platform will be the ability to block kids from using AI chatbots and tools. This will allow parents to establish limits on AI use, putting them back in charge of what’s age-appropriate for their children. For example, studies have shown that using AI for homework can hinder critical thinking, where kids rely on external tools instead of engaging in deep internal thinking or putting in the steps to solve a math problem. AI Assistant: Safe Path 8 will also include an AI Assistant for parents. This unique feature is planned for a future release on SafePath 8 and will use large language models to provide parents with valuable insights about family activities in the digital and physical worlds. Digital Wellness Resource Website: Available directly from its SafePath application, the Digital Wellness Resources site is a curated collection of online resources aimed at helping parents and families obtain helpful information on critical topics related to their child’s online safety. This resource will continue to expand to contain information relevant to today’s families. Announcement • May 02
Smith Micro Software, Inc. to Report Q1, 2025 Results on May 07, 2025 Smith Micro Software, Inc. announced that they will report Q1, 2025 results After-Market on May 07, 2025 Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Director Asha Keddy was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 25
Smith Micro Software, Inc., Annual General Meeting, Jun 03, 2025 Smith Micro Software, Inc., Annual General Meeting, Jun 03, 2025. Location: meetnow.global/mhzwg2g, United States Major Estimate Revision • Mar 19
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$31.8m to US$26.2m. Forecast losses increased from -US$0.58 to -US$0.675 per share. Software industry in the US expected to see average net income growth of 17% next year. Consensus price target of US$4.83 unchanged from last update. Share price fell 24% to US$0.82 over the past week. New Risk • Mar 12
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -US$14m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Shareholders have been substantially diluted in the past year (89% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$14m). Market cap is less than US$100m (US$19.1m market cap). Reported Earnings • Mar 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: US$3.94 loss per share (further deteriorated from US$3.01 loss in FY 2023). Revenue: US$20.6m (down 50% from FY 2023). Net loss: US$48.7m (loss widened 100% from FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.3%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Announcement • Mar 05
Smith Micro Software, Inc. to Report Q4, 2024 Results on Mar 11, 2025 Smith Micro Software, Inc. announced that they will report Q4, 2024 results After-Market on Mar 11, 2025 Breakeven Date Change • Dec 31
Forecast to breakeven in 2027 The 3 analysts covering Smith Micro Software expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$9.00m in 2027. Average annual earnings growth of 85% is required to achieve expected profit on schedule. Price Target Changed • Dec 10
Price target decreased by 29% to US$4.83 Down from US$6.83, the current price target is an average from 3 analysts. New target price is 552% above last closing price of US$0.74. Stock is down 87% over the past year. The company is forecast to post a net loss per share of US$4.20 next year compared to a net loss per share of US$3.01 last year. Announcement • Nov 28
Smith Micro Software Receives Nasdaq Non-Compliance Letter Regarding Minimum Bid Price Requirement On November 26, 2024, Smith Micro Software, Inc. (the Company") received a letter from the Listing Qualifications Staff of The Nasdaq Stock Market (Nasdaq") indicating that as result of the closing bid price of the Company's common stock (Common Stock") for the last 30 consecutive business days having been below the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the Minimum Bid Price Requirement") the Company was not in compliance with the Minimum Bid Price Requirement (the Minimum Bid Price Notice"). The Minimum Bid Price Notice has no immediate effect on the continued listing status of the Company's Common Stock on The Nasdaq Capital Market, and, therefore, the Company's listing remains fully effective. Pursuant to Nasdaq Marketplace Rule 5810(c)(3)(A), the Company has been provided an initial compliance period of 180 calendar days, or until May 26, 2025, to regain compliance with the Minimum Bid Price Requirement. If at any time before May 26, 2025, the closing bid price of the Common Stock is at least $1.00 per share for a minimum of ten consecutive business days, unless Nasdaq exercises its discretion to extend this ten-day period, Nasdaq will provide written confirmation stating that the Company has achieved compliance with the Minimum Bid Price Requirement. If the Company's Common Stock does not regain compliance with the Minimum Bid Price Requirement during this initial 180-day compliance period, the Company may be eligible for an additional compliance period of 180 calendar days provided that (i) the Company satisfies Nasdaq's continued listing requirement for market value of publicly held shares and all other initial listing standards, other than the Minimum Bid Price Requirement; and (ii) the Company provides written notice to Nasdaq of its intention to cure the deficiency during the second grace period. The Company intends to monitor the closing bid price of its Common Stock and assess its available options in order to regain compliance with the Minimum Bid Price Requirement and continue listing on The Nasdaq Capital Market. There can be no assurance that the Company will regain compliance with the Minimum Bid Price Requirement or will otherwise be in compliance with the other Nasdaq listing requirements. Reported Earnings • Nov 15
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: US$0.54 loss per share. Revenue: US$4.65m (down 58% from 3Q 2023). Net loss: US$6.37m (loss widened 24% from 3Q 2023). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 6.4%. Revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Announcement • Nov 08
Smith Micro Software, Inc. to Report Q3, 2024 Results on Nov 13, 2024 Smith Micro Software, Inc. announced that they will report Q3, 2024 results After-Market on Nov 13, 2024 New Risk • Oct 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 82% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (38% average weekly change). Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$17.0m market cap). Announcement • Oct 04
Smith Micro Software, Inc. has completed a Follow-on Equity Offering in the amount of $3.869991 million. Smith Micro Software, Inc. has completed a Follow-on Equity Offering in the amount of $3.869991 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 3,321,881
Price\Range: $1.165
Transaction Features: Registered Direct Offering Announcement • Oct 03
Smith Micro Software, Inc. announced that it expects to receive $3 million in funding Smith Micro Software, Inc. announced a private placement of 2,575,107 unregistered shares at a price of $1.165 per share for the gross proceeds of $2,999,999.655 and warrants on October 2, 2024. Each warrant issued as part of the Private Placement transaction will be exercisable for one share of common stock at an exercise price of $1.04 per share, will become exercisable six months after it is issued and will expire five years thereafter. The Private Placement transaction is expected close on October 2, 2024. Announcement • Oct 02
Smith Micro Software, Inc. has filed a Follow-on Equity Offering in the amount of $3.869991 million. Smith Micro Software, Inc. has filed a Follow-on Equity Offering in the amount of $3.869991 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 3,321,881
Price\Range: $1.165
Transaction Features: Registered Direct Offering Announcement • Sep 17
Smith Micro Software, Inc. has withdrawn its Follow-on Equity Offering. Smith Micro Software, Inc. has withdrawn its Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Security Name: Common Warrants
Security Type: Equity Warrant
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Security Name: Placement Agent Warrants
Security Type: Equity Warrant New Risk • Aug 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.41m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (US$9.41m market cap). Minor Risk Shareholders have been diluted in the past year (32% increase in shares outstanding). Major Estimate Revision • Aug 12
Consensus revenue estimates decrease by 22% The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$27.6m to US$21.6m. EPS estimate unchanged at -US$4.71 per share. Software industry in the US expected to see average net income growth of 18% next year. Consensus price target down from US$10.67 to US$8.17. Share price fell 41% to US$1.11 over the past week. Announcement • Aug 08
Smith Micro Software, Inc. has filed a Follow-on Equity Offering. Smith Micro Software, Inc. has filed a Follow-on Equity Offering.
Security Name: Common Stock
Security Type: Common Stock
Security Name: Common Warrants
Security Type: Equity Warrant
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Security Name: Placement Agent Warrants
Security Type: Equity Warrant New Risk • Aug 05
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$50m Forecast net loss in 3 years: US$226k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$226k net loss in 3 years). Shareholders have been diluted in the past year (34% increase in shares outstanding). Market cap is less than US$100m (US$21.0m market cap). Reported Earnings • Aug 04
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: US$0.66 loss per share. Revenue: US$5.14m (down 50% from 2Q 2023). Net loss: US$6.93m (loss widened 22% from 2Q 2023). Revenue missed analyst estimates by 3.0%. Earnings per share (EPS) exceeded analyst estimates by 6.6%. Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Announcement • Jul 25
Smith Micro Software, Inc. to Report Q2, 2024 Results on Aug 01, 2024 Smith Micro Software, Inc. announced that they will report Q2, 2024 results at 4:00 PM, US Eastern Standard Time on Aug 01, 2024 Announcement • May 15
Smith Micro Software, Inc. has completed a Follow-on Equity Offering in the amount of $4.105655 million. Smith Micro Software, Inc. has completed a Follow-on Equity Offering in the amount of $4.105655 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 1,065,000
Price\Range: $2.15
Discount Per Security: $0.129
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 845,000
Price\Range: $2.149
Discount Per Security: $0.129
Transaction Features: Registered Direct Offering Major Estimate Revision • May 15
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$30.4m to US$29.0m. Losses expected to increase from US$2.70 per share to US$3.04. Software industry in the US expected to see average net income growth of 28% next year. Consensus price target down from US$16.50 to US$14.67. Share price rose 11% to US$2.79 over the past week. Price Target Changed • May 10
Price target decreased by 21% to US$14.67 Down from US$18.50, the current price target is an average from 3 analysts. New target price is 464% above last closing price of US$2.60. Stock is down 72% over the past year. The company is forecast to post a net loss per share of US$2.67 next year compared to a net loss per share of US$3.01 last year. Breakeven Date Change • May 10
No longer forecast to breakeven The 3 analysts covering Smith Micro Software no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$5.50m in 2026. New consensus forecast suggests the company will make a loss of US$1.80m in 2026. Reported Earnings • May 10
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: US$3.28 loss per share (further deteriorated from US$0.89 loss in 1Q 2023). Revenue: US$5.80m (down 47% from 1Q 2023). Net loss: US$31.0m (loss widened 350% from 1Q 2023). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 61% per year, which means it is performing significantly worse than earnings. Announcement • May 03
Smith Micro Software, Inc. to Report Q1, 2024 Results on May 08, 2024 Smith Micro Software, Inc. announced that they will report Q1, 2024 results After-Market on May 08, 2024 Announcement • May 01
Smith Micro Regains Compliance with Nasdaq Minimum Bid Price Requirement Smith Micro Software, Inc. (‘Smith Micro’ or the ‘Company’) announced that it has received notice from The Nasdaq Stock Market informing the Company that, after having a closing bid price at or greater than $1.00 per share for 12 consecutive business days from April 11, 2024 to April 26, 2024, the Company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market, and that the matter is now closed. Announcement • Apr 04
Smith Micro Software Announces 1-for-8 Reverse Stock Split to Regain Compliance with the Minimum Bid Price Requirement for Continued Listing on The Nasdaq Capital Market Smith Micro Software, Inc. (‘Smith Micro’ or the ‘Company’) announced that the company’s board of directors has approved a 1-for-8 reverse split of the company’s common stock, par value $0.001 per share (the ‘Common Stock’) (the ‘Reverse Split’). The Reverse Split was approved by the Company’s stockholders at a special meeting held on April 3, 2024. The Reverse Split will legally take effect at 11:59 p.m. Eastern Time, on April 10, 2024. The company’s common stock will open for trading under a new CUSIP number 832154405 on The Nasdaq Capital Market on April 11, 2024, on a split-adjusted basis under the current ticker symbol ‘SMSI.’ The Reverse Split is intended to increase the per share trading price of the Company’s common stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. New Risk • Mar 21
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$24m Forecast net loss in 3 years: US$500k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$7.0m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$500k net loss in 3 years). Share price has been volatile over the past 3 months (14% average weekly change). Shareholders have been diluted in the past year (37% increase in shares outstanding). Market cap is less than US$100m (US$26.9m market cap). Reported Earnings • Feb 25
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: US$0.38 loss per share (improved from US$0.53 loss in FY 2022). Revenue: US$40.9m (down 16% from FY 2022). Net loss: US$24.4m (loss narrowed 17% from FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has fallen by 58% per year, which means it is performing significantly worse than earnings. Breakeven Date Change • Feb 25
Forecast breakeven date pushed back to 2026 The 2 analysts covering Smith Micro Software previously expected the company to break even in 2025. New consensus forecast suggests losses will reduce by 79% per year to 2025. The company is expected to make a profit of US$5.50m in 2026. Average annual earnings growth of 75% is required to achieve expected profit on schedule. Announcement • Feb 23
Smith Micro Announces New SafePath OS™ Solution Expanding its Focus on Family Safety Smith Micro Software, Inc. introduced SafePath OS™, a new family safety solution to be built on the Android operating system, which focuses on digital safety for children and families while providing mobile network operators (MNOs) another way to offer a kids phone to their subscribers. The solution is expected to be available in the second half of this year and will serve as another means for MNOs to support their family subscribers in the rapidly changing and increasingly dangerous digital and physical world. Smith Micro will work with MNOs to package and promote a kids phone with Smith Micro’s powerful SafePath® digital family safety software preinstalled and configured on one or more devices selected by the MNO. A software-only solution, SafePath OS will expand Smith Micro’s reach from a subscription app-only solution to enabling MNOs to offer devices powered by SafePath OS. SafePath OS will provide an option for MNOs to market and promote a safe and secure kids device pre-loaded with the SafePath OS and position MNOs to more fully compete with over-the-top family safety solutions. Most importantly, the selected device will come out of the box ready to use with pre-determined parental control settings, an always active VPN, and evasion protection so that SafePath cannot be bypassed or evaded. SafePath OS will be offered through MNOs in North America and Europe and will be an off-the-shelf solution that works immediately with pre-configured and pre-installed defaults that do not require pairing with a parent app, but once paired with the parent app will offer even more safety controls and features. 
