Smith Micro Software, Inc. (SMSI) Financial Statements (2024 and earlier)

Company Profile

Business Address 5800 CORPORATE DRIVE
PITTSBURGH, PA 15237
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments14,02616,07825,75428,26812,1592,205
Cash and cash equivalents14,02616,07825,75428,26812,1592,205
Receivables10,50110,59012,34710,8947,1305,145
Other undisclosed current assets1,9831,9881,189802795576
Total current assets:26,51028,65639,29039,96420,0847,926
Noncurrent Assets
Operating lease, right-of-use asset3,7225,7105,7856,464
Property, plant and equipment1,4982,6982,1702,1098651,229
Intangible assets, net (including goodwill)71,36177,67224,96412,3323,9234,172
Goodwill35,04135,04112,2667,7973,6853,685
Intangible assets, net (excluding goodwill)36,32042,63112,6984,535238487
Other noncurrent assets490620694234140146
Other undisclosed noncurrent assets    94191404
Total noncurrent assets:77,07186,70033,61321,2335,1195,951
TOTAL ASSETS:103,581115,35672,90361,19725,20313,877
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,8253,7372,4982,2941,6101,749
Accounts payable3,2363,3012,2822,0501,1601,333
Accrued liabilities1,589436216244450416
Deferred revenue  1761,57298
Debt9,007  1,221  
Derivative instruments and hedges, liabilities1,575     
Deferred revenue and credits73
Due to related parties     1,000
Contract with customer, liability28
Other undisclosed current liabilities5,3245,4554,3002,1071,7451,994
Total current liabilities:20,7319,3688,3705,7203,3834,816
Noncurrent Liabilities
Long-term debt and lease obligation  4,4674,8055,774 1,558
Long-term debt, excluding current maturities      1,558
Liabilities, other than long-term debt3,1541171,0121,0191,2572,936
Deferred revenue and credits970
Deferred rent credit   887885723
Deferred income tax liabilities17811759 
Due to related parties     1,200
Other liabilities   66134534766
Operating lease, liability2,9764,4674,8055,774
Other undisclosed noncurrent liabilities3,317844    
Total noncurrent liabilities:6,4715,4285,8176,7931,2574,494
Total liabilities:27,20214,79614,18712,5134,6409,310
Equity
Equity, attributable to parent76,379100,56058,71648,68420,5634,567
Common stock565441382814
Additional paid in capital357,875352,779279,905274,041256,626237,486
Accumulated deficit(281,552)(252,273)(221,230)(225,395)(236,091)(232,933)
Total equity:76,379100,56058,71648,68420,5634,567
TOTAL LIABILITIES AND EQUITY:103,581115,35672,90361,19725,20313,877

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues48,51358,42251,30043,34626,28522,974
Revenue, net22,974
Cost of revenue
(Cost of Goods and Services Sold)
(14,210)(12,698)(5,190)(3,927)(4,333)(5,082)
Gross profit:34,30345,72446,11039,41921,95217,892
Operating expenses(65,230)(76,662)(42,589)(29,314)(23,166)(23,566)
Operating income (loss):(30,927)(30,938)3,52110,105(1,214)(5,674)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(115)76(3)(14)(26)(8)
Interest and debt expense    (203)(405)
Income (loss) from continuing operations before equity method investments, income taxes:(31,042)(30,862)3,51810,091(1,443)(6,087)
Other undisclosed income (loss) from continuing operations before income taxes1,98934807711(1,284)(1,120)
Income (loss) from continuing operations before income taxes:(29,053)(30,828)4,32510,802(2,727)(7,207)
Income tax expense (benefit)(226)(215)(160)(80)(13)546
Income (loss) from continuing operations:(29,279)(31,043)4,16510,722(2,740)(6,661)
Income (loss) before gain (loss) on sale of properties:(31,043)4,16510,722(2,740)(6,661)
Net income (loss) attributable to parent:(29,279)(31,043)4,16510,722(2,740)(6,661)
Preferred stock dividends and other adjustments    (119)(404) 
Net income (loss) available to common stockholders, diluted:(29,279)(31,043)4,16510,603(3,144)(6,661)

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(29,279)(31,043)4,16510,722(2,740)(6,661)
Comprehensive income (loss):(29,279)(31,043)4,16510,722(2,740)(6,661)
Other undisclosed comprehensive loss, net of tax, attributable to parent     (1) 
Comprehensive income (loss), net of tax, attributable to parent:(29,279)(31,043)4,16510,722(2,741)(6,661)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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